CSR

What are some key trends related to corporate volunteerism?

"Increase in the integration of employee volunteer efforts into existing corporate social initiatives and connecting volunteer efforts to business goals. A strategic approach appears tao be the norm, where employees are encouraged to volunteer for causes that are currently supported by other corporate social initiatives, frequently connected to core business values and goals" (??)

example of cause related marketing

--a corporation commits to making a contribution or donation of a percentage of revenue linked to product sales or other consumer actions... can be organized in diff ways 1.May be specified amount for each 2. Percentage of a sales or transaction or profits ex: patagonia 3. One for one model ex: toms

Who can potentially decide how to give money?

-Corporate Department/Executives -Corporate Foundation -Independent group set up by company -- individual entity -Employees -Customers -Crowdsourcing

What are some of the hidden costs of cause-related marketing? How can those costs be alleviated?

-Investment in paid promo

What are some recommendations to keep a cause-related marketing initiative successful?

-Keep the offer simple -Look for a product with chemistry with the cause -Select a product that has mass market appeal -Align with an issue that has many supporters -Importance of transparency

Why is CSR relevant today?

-globalization- more things happening in the world today that we are more aware of.

Arguments for CSR

1. It is in the Business's long-term self-interest to by socially responsible 2. It will 'ward off government regulation' 3. 'business has the resources' and 'let business try' (because business has a reservoir of management talent. Functional expertise and capital, and because so many others have tried and failed to solve social problems, business should be given the chance) 4. Pro-acting is better than reacting 5. Business should engage in CSR because the public strongly supports it

What are the different ways to structure cause-related initiatives?

1. Specified dollar amount for each product sold 2. Specified amount for each account opened or every application 3. Percentage of sales of product or transaction 4. In-kind donation in response to purchase 5. Cash contribution that underwrites a tangible charitable benefit (??)

arguments against csr

1. classical economic argument 2. not equipped to handle social activities 3. Dilutes Businesses' primary purpose 4. Business already has enough power, so why should we place in its hands the opportunity to wield additional power such as social power? 5. By pursuing CSR, business will make itself less competitive globally

What is cause-related marketing?

A corporation links monetary or in-kind donations to product sales or other consumer actions. Most commonly, this offer is for an announced period of time and for a specific product and for a specified charity. In this scenario, a corporation is most often partnered with a nonprofit organization, creating a mutually beneficial relationship designed to increase product sales and generate financial support for the charity (

What are some reasons why people volunteer?

Being a part of something larger Helping others give back social experience creating a community pay it forward skill development reduce guilt of being more fortunate than others impact in community

Benefits of social marketing

Benefits connected to marketing: -supporting brand positioning -creating brand preference -building traffic -increasing sales Non marketing related benefits: -improving profitability -making a real social impact

What are some potential benefits of philanthropy

Benefits: Increased respect and community goodwill Signals other funders Improve the importance of grant recipients Advance knowledge and practice Expand markets Perhaps more challenging but sustainable & long-term Ensure future workforces Why so many companies donate to schools

What are some potential benefits of corporate volunteerism?

Benefits: build strong genuine relationships with local communities, attract and maintain satisfied and motivated employees, augmenting/leveraging current involvement in other social initiatives, contributions to business goals, enhancing corporate image, providing opportunities to showcase products/services

What are boycotting and buycotting? Examples of both?

Boycotting- avoid a product as protest example: Buycotting- over purchasing a product to support a cause example:

What are CEO/corporate and consumer activism? Examples of both?

CEO activism: Chick-fil-a example Consumer activism: -consumers take a stand on an issue and put pressure on a company to make changes

What are concerns abt philanthropy

Concerns: -Selecting the nonprofit charity or cause -Less visibility than other CSR programs -Challenge of focusing on short- versus long-term projects -Tracking activities and measuring outcomes

What are some potential concerns of corporate volunteerism?

Concerns: it can get expensive, efforts may get spread over so many issues that there ends up being no meaningful impact, how do we realize business benefits for the company?, tracking efforts and outcomes can be very difficult, tough to find balance between publicizing efforts and flaunting them/

What do we mean by the term corporate social responsibility (CSR)

Corporate social responsibility (CSR) is a commitment to improve community well-being through discretionary business practices and contributions of corporate resources. (Kotler et al)

Who do you think is the primary audience for corporate purpose and why?

Employees because they are the front of the company and represent the corporate ideals

What are some different ways how companies can structure volunteerism (typical programs)?

Promoting the ethnic through corporate communications, suggesting specific causes and charities, organizing volunteer teams, helping employees find opportunities through coordinators, providing paid time off during the year, awarding cash grants to charities, and recognizing exemplary employee volunteers

What do we mean by corporate purpose?

Purpose defines an organization's authentic role and value in society that allows it to simultaneously grow its business and positively impact the world. Most important with employee engagement and commitment, everyone on the same page; live and breathe the brand Lowes: blue vest

What is social marketing and can you provide an example?

Social marketing is some kind of marketing effort that attempts to induce a behavior change. -ie dont drink and drive -more difficult than cause related marketing because require an internal change in the customer -a process that uses marketing and techniques to inlace a target audience behavior that will benefit society as well as the individual -behaviors to reject, modify, accept or abandon -differs from education and advertising and social media -used mostly with late and early majority, "help me" group Example: Coca cola tries to solve problem of obesity

What stakeholders do corporations interact with?

Stakeholders that corporations interact with are employees, consumers, CEO's, investors or stock holders, community, government, and media.

What are a few research findings related to CEO activism as articulated by Weber Shandwick?

The research found that nearly 40% of American adults believe that it is a CEO's duty to engage with and speak out on hot-button issues.

What are some different ways companies engage in philanthropy?

Ways to give -cash donations -offer grants -Scholarships -donate products -donate service/technical expertise -allow use of facilities and/or channels -offer use of equipment good works page 142

How can corporate purpose best be communicated?

employees- testimonials