Moral and social responsibility practices in small business

Besides, there are harmful external effects to which are not given due considerations by private enterprises in making their business decisions.

ways to practice csr

Manmohan Singh wants the private corporate sector to give preference to minorities, especially Muslims in providing employment. By adopting socially responsible norms early on, you can set the bar for your industry and refine your process. The resources and capital they use for production of goods and services, according to him, should be used not to maximize profits for them but for the larger benefit of the society.

He has been a college marketing professor since His previous papers include contributions to stakeholder versus shareholder theory, corporate moral agency, corporate philanthropy, corporate social versus financial performance, Fair Trade and the application of modern virtue ethics to business.

Corporate social responsibility strategies

For example, a sales person might make an unethical transaction with a customer, and then the customer spreads information about that transaction around the market, hurting your business reputation. Build sound business practices by setting an ethical example and creating policies and procedures that govern the activities of your employees. There is now a growing awareness towards reduction in environment pollution. It applies to the production, distribution, marketing, sale and consumption of goods and services. Do not pay excessive remuneration to promoters and senior executives as it creates social resentment. The rules of the game obviously include accepted ethical practices, in addition to international, national and other laws. Photo Credits. Create an internal team to spearhead the efforts and choose an organization or cause they care about. Simply put, ethics involves learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as straightforward as conveyed in a great deal of business ethics literature.

Any steps they can take to reduce those footprints are considered good for both the company and society. The above two examples should serve as a wake-up call for Indian corporate businesses that they should discharge their responsibility to their customers, employees, other stakeholders and society at large.

Corporate social responsibility examples small business

Pollution of environment poses a great health hazard for the people and is a cause of several respiratory and skin diseases. Social responsibility of business enterprises to the various stakeholders and society in general is considered to be the result of a social Fig. To provide quality healthcare to their employees. Undertaking CSR initiatives is truly a win for everyone involved. To generate sufficient employment opportunities so as to make good contribution to the reduction of poverty in the country. For every pair of shoes sold, the company provides a new pair of shoes to children in developing countries. Palgrave MacMillan, Hampshire, pp. To take appropriate measures to reduce level of pollution and adopt eco-friendly technologies.

Google Scholar Jenkins H. Palgrave MacMillan, Hampshire, pp.

Importance of corporate social responsibility

To generate sufficient employment opportunities so as to make good contribution to the reduction of poverty in the country. This concept goes beyond legal standards and addresses the notion that these stakeholders prefer to deal with responsible businesses when given the choice. Consumers aren't the only ones who are drawn to businesses that give back. This is a preview of subscription content, log in to check access. Katie Schmidt, the founder and lead designer of Passion Lilie , said CSR can positively impact your business by improving your company image, building your brand and motivating you as a business owner. Applying Ethics to a Career in Business Business professionals should have a solid grasp of ethical practices for their careers. Other aspects of corporate social responsibility can vary. For example, small businesses depend on reputation and trust among people in the community. While the captains of Indian industries generally complain about low productivity of their employees, little has been done to address their problems. This can lead to greater loyalty, less turnover and better collective knowledge. Business Ethics and Corporate Social Responsibility Definition and Characteristics Corporate social responsibility is similar to ideas of social responsibility for individuals and businesses.

In: Brenkert G. Customers must believe in your brand to make repeated purchases.

Types of social responsibility

Also see the section "Recent Blog Posts" in the sidebar of the blog or click on "next" near the bottom of a post in the blog. Finally, a third motive for corporate social responsibility activities is meeting societal expectations and stakeholder pressure. This is especially true of businesses that operate in international locations with labor laws that differ from those in the United States. The most important responsibility of a corporate enterprise towards employees is the payment of fair wages to them and provide healthy and good working conditions. Does Size Matter? Google Scholar Spence L. It is best to consult with these organizations about their specific needs before donating. By adopting socially responsible norms early on, you can set the bar for your industry and refine your process.
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Business Ethics and Social Responsibility