Business chapter 3
Social responsibility:
- def: management’s obligation to protect and promote the welfare of all stakeholders
- act in a ethical manner
CSI - corporate social investment
- Acting in a responsible manner
Sustainability
- long term difference
- Have to set up structures to enable the community to start becoming self sufficient
- Teaching skills will enable the means to get a job in the long run
- Vegetable garden
- Marketing skills
- Creates innovation
CSR positive impacts on a business:
- marketing strategy
- Competing advantage
- Attract experienced employees
- Attracts investors
- Government will enforce the issue through legislations if it’s not implemented
- Higher rating on JSE
CSR negatives for the business:
- smaller entrepreneurs find it difficult to implement
- Can distract the business from their core businesses functions
- Social involvement is paid from companies profit
- Detailed reports must be drawn up
- Reduces companies exotic efficiency
- Difficulty to measure the effectiveness
Social responsibility:
- def: management’s obligation to protect and promote the welfare of all stakeholders
- act in a ethical manner
CSI - corporate social investment
- Acting in a responsible manner
Sustainability
- long term difference
- Have to set up structures to enable the community to start becoming self sufficient
- Teaching skills will enable the means to get a job in the long run
- Vegetable garden
- Marketing skills
- Creates innovation
CSR positive impacts on a business:
- marketing strategy
- Competing advantage
- Attract experienced employees
- Attracts investors
- Government will enforce the issue through legislations if it’s not implemented
- Higher rating on JSE
CSR negatives for the business:
- smaller entrepreneurs find it difficult to implement
- Can distract the business from their core businesses functions
- Social involvement is paid from companies profit
- Detailed reports must be drawn up
- Reduces companies exotic efficiency
- Difficulty to measure the effectiveness
