Discussion Post: After reading Stobierski s article below, locate a news article or news story online that covers an issue dealing with corporate social responsibility. The focus should be on one of the four areas Stobierski discussed. In your post, give a brief summation of the issues and your thoughts on the companys behavior. Provide a link to the article in your post. Remember to post your initial answer by Friday for attendance credit. You must respond to at least two of your classmates by Monday to receive full attendance credit.

Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility. Environmental Responsibility Environmental responsibility refers to the belief that organizations should behave in as environmentally friendly a way as possible. Its one of the most common forms of corporate social responsibility. Some companies use the term environmental stewardship to refer to such initiatives. Companies that seek to embrace environmental responsibility can do so in several ways: Reducing harmful practices, such as decreasing pollution, greenhouse gas emissions, the use of single-use plastics, water consumption, and general waste Regulating energy consumption by increasing reliance on renewables, sustainable resources, and recycled or partially recycled materials Offsetting negative environmental impact; for example, by planting trees, funding research, and donating to related causes 2. Ethical Responsibility Ethical responsibility is concerned with ensuring an organization is operating in a fair and ethical manner. Organizations that embrace ethical responsibility aim to practice ethical behavior through fair treatment of all stakeholders, including leadership, investors, employees, suppliers, and customers. Firms can embrace ethical responsibility in different ways. For example, a business might set its own, higher minimum wage if the one mandated by the state or federal government doesnt constitute a livable wage. Likewise, a business might require that products, ingredients, materials, or components be sourced according to free trade standards. In this regard, many firms have processes to ensure theyre not purchasing products resulting from slavery or child labor. 3. Philanthropic Responsibility Philanthropic responsibility refers to a businesss aim to actively make the world and society a better place. In addition to acting as ethically and environmentally friendly as possible, organizations driven by philanthropic responsibility often dedicate a portion of their earnings. While many firms donate to charities and nonprofits that align with their guiding missions, others donate to worthy causes that dont directly relate to their business. Others go so far as to create their own charitable trust or organization to give back and have a positive impact on society. 4. Economic Responsibility Economic responsibility is the practice of a firm backing all of its financial decisions in its commitment to do good in the areas listed above. The end goal is not to simply maximize profits, but make sure the business operations positively impact the environment, people, and society. Most firms are driven to embrace corporate social responsibility due to moral convictions, and doing so can bring several benefitsLinks to an external site. and important social changeLinks to an external site.. Corporate social responsibility initiatives can, for example, be a powerful marketing tool, helping a company position itself favorably in the eyes of consumers, investors, and regulators. CSR initiatives can also improve employee engagementLinks to an external site. and satisfactionkey measures that drive retention. Such initiatives can even attract potential employees who carry strong personal convictions that match those of the organization. Finally, corporate social responsibility initiatives, by their nature, force business leaders to examine practices related to how they hire and manage employees, source products or components, and deliver value to customers. This reflection can often lead to innovative and groundbreaking solutions that help a company act in a more socially responsible way and increase profits. Reconceptualizing the manufacturing process so that a company consumes less energy and produces less waste, for example, allows it to become more environmentally friendly while reducing its energy and materials costsvalueLinks to an external site. that can be reclaimed and shared with both suppliers and customers. Types of Corporate Social Responsibility to be Aware of. Tim Stobierski. Updated on October 12, 2022. Originally published on April 8, 2021.