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Chapter 4 Presentation 3
1. CORPORATE SOCIAL
RESPONSIBILITY
Respective business act in ways that balance
profit and growth with the good of society.
Based on the concept that the relationship
between business and society ought to go deeper
than simply economics.
One part of corporate social responsibility is
Ethical Sourcing
Buying
from suppliers who provide safe working
conditions and respect workers’ rights.
Corporate Social Responsibility = Doing Well By
Doing Good
2. RESPONSIBILITY TO INDIVIDUALS
Customers
trust you to supply a good or service
Investors & Creditors
Trust
your business judgment and rely on you to
fulfill your financial obligations
Employees
Count
on you for income
3. RESPONSIBILITY TO EMPLOYEES
Employees Need The Following:
A Safe Work Environment
Trust
They
need respect for their skills and freedom to use
them.
The true test comes with giving them responsibility
with no supervision.
Employers are often cautious about giving too much
space because they want employees to stay with
them, but also grow professionally and personally.
4. RESPONSIBILITY TO EMPLOYEES
Consideration for Personal Needs
Employers
must respect the needs of employees as it
pertains to children, spouses, and other family
members.
5. RESPONSIBILITY TO CUSTOMERS
Business owners are bound by law to treat
customers fairly.
A wise entrepreneurs realizes that the ethical
obligations often go far beyond the legal
minimum.
The four qualities that customers are most
looking for are:
Honesty
Respect
Accessibility
Attention
6. RESPONSIBILITY TO CUSTOMERS
Honesty:
Be
honest and transparent in all areas
Inform about product advantages and drawbacks
Describe your service abilities accurately
Carefully estimate time and cost
Admit to mistakes without excuses
7. RESPONSIBILITY TO CUSTOMERS
Respect:
Customers
needs and problems are important to
them
Take customer complaints seriously
Research says that only 1-50 dissatisfied customers
actually complain
8. RESPONSIBILITY TO CUSTOMERS
Accessibility
Be
available when you promise to be
Keep the business hours that you advertise
Give accurate contact information where they can
reach you
Keep customers updated about the progress of their
work
9. RESPONSIBILITY TO CUSTOMERS
Attention:
Focus
your attention on the customer you are helping
at that current moment
Don’t be distracted by your cell phone or other
obligations.
10. RESPONSIBILITY TO SUPPLIERS
Make timely payments to the suppliers you deal
with.
Complaining that a supplier is being unfair or
dishonest is not appropriate
Using suppliers as bargaining chips is dishonest
as well.
11. RESPONSIBILITY TO
INVESTORS/CREDITORS
They provide the money to start and run a business
along with an emotional boost to the business.
Investors are not guaranteed a return on their
investment, but they should be guaranteed your
respect and timeliness in responses.
Creditors are owed a return on their investment,
often with interest tacked on.
Both do deserve respect because taking money on
false pretenses is illegal and can hurt your business.
12. DATE
Objective
What is the corporate
social responsibility
towards the
environment?
Bellringer
What are ways that
you can protect the
environment as a
business?
13. ENVIRONMENTALLY FRIENDLY
ENTERPRISES
Sustainable Design:
Meets
the planet’s needs while preserving resources
for future generations
Alternative Energy:
Researchers
are working to make alternatives to oil
and coal. Investors are excited to put money towards
a “clean” technology
Organics
Concerns
about personal health, as well as the
environment, have increased interest in organic
products, those made from crops and animals that
are raised without manufactured chemicals.
15. THE ENERGY EFFICIENT
WORKPLACE
Businesses that aren’t specifically green can
benefit from green practices.
The five ways a business can lower expenses
while being green are:
Get
into the recycling loop
Do business electronically
Buy supplies in bulk
Replace incandescent light bulbs with fluorescent
ones.
Use environmentally friendly transportation
16. KEY ENERGY EFFICIENT TERMS
Carbon Footprint
Measures
the amount of carbon you use and thus
release back into the atmosphere.
Carbon Offset
Buying
a certain amount of carbon, from non-profit
organizations, usually priced per ton, to offset your
carbon footprint. Money is invested back into
renewable energy.
Greenwashing
When
a business overstates their commitment to
being “green”
17. CAUSE RELATED MARKETING
CRM
Is
a partnership between a business and a non-profit
group for the benefits of both.
Accomplishes
two goals at its best:
Increases sales for the business
Raises money and awareness for the non-profit group
Sponsorship
One
form of CRM which a business sponsors an event
in exchange for advertising
18. CAUSE RELATED MARKETING
Facilitated Giving
When
a business makes it easier for customers to
contribute to a cause.
For example: a store may have canisters at check out
lines to make donations.
Purchase Triggered Donations
For
every purchase of an item the business will
contribute a certain amount or percentage of the
proceeds
19. PHILANTHROPY
When a business donates money and other
resources for socially beneficial causes.
Philanthropy is ideally a help up, not a handout.
Comes from two Greek words that translates to:
One
who loves human kind
In-Kind Donation
A
gift of a good or service
Can be counted on the entrepreneurs personal
income tax statement