SHRM SCP 2020: Corporate Social Responsibility

Cultural relativism

Ethical behavior is determined by local culture, laws, and business practices. (polycentric)

Social Audit Areas

Ethics, staffing, environment, human rights, community, society, compliance

Ethical universalism

Fundamental principles apply across all cultures without regard to local ethical norms. (ethnocentric)

CSR Triple Bottom Line

Goal: Excellence in the economic, environmental, and social performance dimensions

Areas of CSR Value

Growth, returns on capital, risk management

Key areas for HR in CSR

Culture change, corporate strategy, organization effectiveness, human capital development

CSR Strategy

Defined by the specific combination of socially beneficial activities the company opts to support with its contributions of time, money, and other resources Starts with Executive Commitment and education of leaders!

Forces shaping today's CSR

Technology, environment concerns (sustainability), economic pressures (value), and sociopolitical forces (civil and social rights)

CSR Maturity Curve

compliance (tactical response), integration (integrated into reg functioning of bus) and transformation (orgs have redefined themselves, their brand to reflect a commitment to CSR

Sustainability sweet spot

where sustainability becomes an engine of innovation and a way to identify bus opportunities...generating new products, processes, markets and bus models

Sustainability Stakeholders

- company executives - community, society, customers - shareholders and potential investors - creditors - regulators - standard setters

Compliance vs ethics

Compliance asks "What can I do?" Ethics asks "What should I do?"

Corporate Social Responsibility

Includes a broader range of decisions or action's effects on a broader field of stakeholders. Integrated into organizational mission and core business strategies. Moved to the center stage.

GRI Standards

Reporting standards to help demonstrate that a company is a good corporate citizen. Reporting on CSR program

OECD (Organization for Economic Cooperation and Development)

Research arm of International Labor Organization; helped influence organizations be good citizens and started the idea of CSR.

Three Spheres of Sustainability

environmental (planet), social (people), economic (profit); different from triple bottom line (for evaluation purposes) in that we're looking at this for planning purposes. Identifying best balance for these three areas.