Corporate Social Responsibility

1. 5.Winning Strategies-Part 2 Corporate Social Responsibility TEAM A2 Bo Kongthaisereekul Janet Ho Veronica Mwikwabhi Edelen Melo-Ortega Cresna Ponthy James Byrne

2. CSR - A G E N D A - 2011 • Introduction • Definition • Fundamental of CSR • CSR Best Practices • Advantages • Action Plans • Business Conduct • Wave Riders Vision • Wave Riders Strategy vs. CSR objectives • Conclusion

3. Introduction “Corporate social responsibility (CSR) is extremely vital in todays globalized World to be considered as an Excellent Organization. Furthermore, CSR understanding can develop in competitive opportunities by identifying key stakeholders; therefore it’s an important part of our Agenda 2011” (MIB Motor Insurers' Bureau, 2009) (Griseri & Seppala) “In a globalized market economy, CSR is part of modern business.” Thomas Donaldson (Financial Times, June 2nd 2005) “…today, CSR goes beyond the old philanthropy… responsibility that companies accept for the environment around them, for the best working practices, for their engagement in their local communities and for their recognition that brand names depend not only on quality, price and uniqueness but on how, cumulatively, they interact with companies’ workforce, community and environment…” (Gordon Brown, CSR A Government Update, 2004)

4. Definitions “Social responsibility is the obligation of decision makers to take action, which protect and improve the welfare of society as whole along with their own interest” “… a new managerial model centered on the voluntary integration on economics, social and environmental responsibilities into entire value chain and all over company functions throughout stakeholder networks that aim to achieve sustainable objectives…” Perrini, Pogutz, & Tencati, (2006 p.11) Carroll & Buchholtz (2009)

5. Fundamental of CSR Value Sustainability & Innovation STRATEGIC OPERATIONAL IMPACT Resources Effort: Min. Op Impact/Risks External relationships Risk Management Legal or Compliance RESPONSIBILITIES Philanthropy (Corporate Social Responsibility Forum:Keeping it Private, 2011) Funding or Skills Ethical (Expected) Laws/Regulations Reflects society values/norms Legal (Required) Laws and Regulations Economic (Required) (Carroll, 1991)

6. Four Pillars of CSR • Human Rights • Labour • Environment • Anti-Corruption (Corporate Governance) OPERATIONAL IMPACT (Corporate Social Responsibility Forum:Keeping it Private, 2011)

7. CSR Best Practices ISO 2600 (Social responsibilities) “Sustainable business for organizations means not only providing products and services that satisfy the customer, and doing so without jeopardizing the environment, but also operating in a socially responsible manner”. UK MOD 00-42-Reliability/Risk Management

8. CSR Advantages Wave Riders Foster positive brand image and reputation Increase employee attraction Engagement and retention Cost saving Increase market share From: Weber (2008) cited in Benn & Bolton (2011)

9. Wave Riders action plans on CSR Assessment to entire value chain Establish new Vision Establish Business Conduct From: Team discussion

10. Wave Riders Business Conduct • Compliance to laws and regulations • Corporate opportunities • Sustainability • Safety and Health • Society and Environment From: Group discussion

11. V I S I O N

12. S T R A T E G Y

13. LEARNING & GROWTH

14. INTERNAL BUSINESS PROCESS

15. Customer

16. FINANCIAL

17. Creation of Shared Value Environment Society Shared Value Corporate performance Porter (2011)

18. Conclusion By having strategic deployment using BSCthat put emphasize on engagement of global harmony among people, society, and environment. To satisfy shareholders and entire stakeholders toward creation of sustainability culture to achieve long term objectives and excellence organization. Enterprises or firms responsibility and opportunity is to go further than just making profit by involving all stakeholders. This includes thinking in Long-term, which is and added value for any Strategy within a company WIN-WIN STRATEGY/VALUES

19. Thank You! • Comments?

20. References: Benn, S., & Bolton, D. (2011). Key Concepts in Corporate Social Responsibility. London, UK: SAGE. Carroll, A. (1991, July-August). The pyramid of CSR Corporate Social Responsibility: Toward the moral Management of Organizational Stakeholders . Business Horizons , 39-48. Carroll, A., & Buchholtz, A. (2009). Business & Society - Ethics and Stakeholders Management. Mason, USA: South-Western. Powell, M. (Performer). (2011). Corporate Social Responsibility Forum:Keeping it Private. London, Coventry. Crane, A., McWilliams , A., Matten, D., Moon, J., & Siegel, D. (2008). The Oxford Handbook of CSR. 455-460. Griseri , P., & Seppala , N. (n.d.). Business Ethics and Corporate Social Responsibility. MIB Motor Insurers' Bureau. (2009). Retrieved February 17, 2011, from http://www.mib.org.uk/NR/rdonlyres/4617D6DD-E0A9-458F-8816-CC40D3E496C3/0/CSR_Annual_Report_20092010final.pdf Perrini, F., Pogutz, S., & Tencati, A. (2006). Developing corporate social responsibility: a European perspective.Glos, UK: Edward Elgar. Regester, M., & Larkin, J. (2008). Risk Issues and Crisis Management: A Casebook of Best Practice (4th ed.). London.