Question

In your own words, explain what CSR is?

Name two examples of socially responsible companies you know and explain why you consider them so?

It is important for companies to incorporate social responsibility into their strategic plans. Give a brief summary of the American Express Company?

What aspects of corporate social responsibility would you recommend they incorporate into its strategic plan? Support your rationale.

Answer 1

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.

Corporate Social Responsibility (CSR)

Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all Corporate Social Responsibility (CSR) is the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit. Not only do responsible, sustainable and transparent approaches help build brand and reputation, they help strengthen the community and therefore the marketplace. A solid business plan, embedded into the business culture, reflecting organizational values and objectives through strategic CSR application, will help to build a sustainable and profitable future for all

Two examples of socially responsible companies

Burt’s Bees - The focus for Burt's Bees has always been on well-being and "the greater good." As part of the Natural Products Association, the company helped develop The Natural Standard for Personal Care Products, which created guidelines for what can be deemed natural. Burt's Bees follows the highest possible standards for packaging sustainability, furthering its dedication to the cause as a member of the Sustainable Packaging Coalition. Since the brand's start at a crafts fair selling $200 worth of honey, the company has since expanded to candles, lip balm and now more than 150 products. In 2009, revenue topped $250 million.

GE - To stay true to GE's mission, Ecomagination offerings include products that significantly and measurably improve customers' operating performance or value proposition and environmental performance. Ecomagination helped GE build its business by increasing awareness of how the company is using renewable energy and reducing carbon emissions. As proof of the effectiveness of GE's program, the Ecomagination portfolio has grown from 17 products to more than 80 today, with revenues reaching $17 billion in 2008, an increase of 21% over 2007.

Important for companies to incorporate social responsibility

Corporate social responsibility (CSR) has become one of the standard business practices of our time. For companies committed to CSR it means kudos and an enhanced overall reputation – a powerful statement of what they stand for in an often cynical business world.

Yes, the establishment of a CSR strategy (sometimes referred to as a sustainability strategy) is a crucial component of a company’s competiveness and something that should be led by the firm itself. This means having policies and procedures in place which integrate social, environmental, ethical, human rights or consumer concerns into business operations and core strategy – all in close collaboration with stakeholder

In American express the approach to CSR is a natural extension of a brand that stands for trust, security and service. The “Service Effect” is shorthand for the impact we aim to have in our communities, and the positive link we see between CSR performance and business performance. We believe the Service Effect creates value for our stakeholders, including our shareholders

Aspects of corporate social responsibility

Internal Assessment

Embed CSR into the company planning and budget processes.

Develop processes for employees to raise CSR issues and concerns to appropriate decision-makers and advocates

Communicate CSR performance visibly and frequently to all employees

Put CSR on the agenda of meetings at all levels of the company

Provide training for employees directly involved in CSR activities.