The notion Corporate social responsibility CSR has provoked an extensive history of academic debate whether corporations have a social as well as financial responsibility to the community or not. The main conflict in this field has been associated with the evolution of the concept and the definition of CSR.
Even though this concept has a long and varied history, which arose centuries ago, the formal writing on social responsibility, however, is mostly a product of the past 50 years. During that time, there have been many papers published by academics and business practitioners. Davis became famous because he emphasised the correlation between social responsibility and business power and justified socially responsible business decision in light of a good chance of bringing long-run prosperity to the corporation.
In fact, he does not dispute the validity of CSR, but rather argues that when these activities are carried out for reasons of self-interest, then they are merely profit-maximization under the cloak of CSR. This being said as a short introduction to the academic development of CSR, highlights that CSR is not at all common sense and therefore needs further theoretically examination. Besides these debates in the academic world, there has been also a development in practise.
The business world offers numerous examples of companies not only focusing on short-term profit without considering social and environmental issues. There have been an increasing number of companies containing ethical and moral values in their corporate strategy and considering their society and environment as important factors towards a long-term success. The aim of this paper is to critically evaluate social responsibility of business in a global economy.
First this paper will put its focus on defining CSR and evaluating whether corporations can even have responsibility. In addition, the author would like to draw attention to CSR theory. Furthermore, this paper should illustrate that the theory of Corporate Social Responsibility helps corporations to differentiate its products and to improve their corporate reputation by acting socially responsible.
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A company that is actively recognised in that field should prove this argument. Blowfield and Frynas betoken CSR as an umbrella term because this theory enfolds a range of concepts and practices. They consider CSR as a heterogeneous and incoherent concept which recognizes. Some of the theory associated with CSR such as the stakeholder- and shareholder theory will be lighted thereinafter. First it is necessary to define the term CSR and deepen into this notion. In literature, there are multiple approaches for defining Corporate Social Responsibility.
Therefore it is crucial to define the notion of CSR. Joseph W. McGuire was an important contributor to the definition of social responsibility during the s. This definition shows its remarkableness, if one compares it to a more recent published definition by McWilliams and Siegel.
These definitions are similar and both encompass that a corporation has far more obligations than just obey to law. This leads to the question whether a Corporation could even have certain types of responsibility. Therefore it might be helpful to define the term corporation and to scrutinise whether a corporation can be morally responsible for its actions.
Defining the term Corporation may seem to be obvious, but there have been many discussions about whether a Corporation can be morally responsible for its actions. In legal terms, a corporation is considered as independent from its people who work for them, invest in them, manage them or receive products or services from them. Remember Me. As an ice cream lover, I can see at least one benefit of climate change.
Rising temperatures justify my nightly ritual: mint chocolate chip ice cream. A Kepler Cheuvreux report suggests 1 degree Celsius corresponds to percentage points of sales.
A cocoa shortage would likely correspond with higher prices. Accordingly, the company should also institute policies that accommodate climate change.
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First, the company can partner with agricultural specialists to teach cocoa producers about sustainable practices. Of course, other ingredients are going to face similar challenges, so the company should think about which ingredients are less susceptible to the perils of climate change. Both mitigation and adaptation could promote social responsibility, and such association would likely grow the brand and sales.
Given the merits of both, how should the company determine the appropriate level of investment? Also, since rising temperatures can support ice cream demand, is there any point where such socially responsible initiatives should not be pursued? Amazing opener — I laughed out loud. And a very interesting read, John Pettifred!
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I think there are two key ways in which they can look to adapt. First, I agree that they should look to further diversify their product portfolio. If the company is thoughtful and strategic, they can work towards new flavors with ingredients less prone to similar risk, as the article mentions.
Ben & Jerry’s: Committed to the cause
Over time, the company can increase marketing efforts towards these flavors, making them staples and at the same time, rotate out some of the chocolate-heavy flavors. Which brings me to my second idea for adaptation. While this would initially lead to inefficiencies in the supply chain — having to revise recipes and production schedules, it allows the company to eliminate the amount of cocoa needed per pint. Mitigation activity will primarily be driven by creating awareness among citizens and more specifically, consumers , and lobbying with governments to drive policy in the right direction and not melt away past efforts.
Ben Cohen & Jerry Greenfield
For starters, this is an action over which the ice-cream chain has complete control. Adaptation will involve developing new flavours whose ingredients are more immune to climate change, and identifying new suppliers, supply chains and production processes — all of which are expensive but potentially necessary given present trends.
Ice cream will not be the only commodity impacted by climate change, and most food items are expected to become more expensive in the process. Since ice-cream would fall into the indulgences waffle cone for a significant part of the population, ice cream tubs might find themselves to be the victims of a shrunken real wallet. John- great article on one of my favorite food groups! In response to your thoughts about mitigation vs adaptation, here are my two cents:.
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