2nd Bac - Social Responsibility

  Social Responsibility

The activities done by an entrepreneur must be aligned to social responsibility. The main elements of social responsibility are economy, society and the environment. An entrepreneurship must be driven by good relationships with the members of society. 

 

Social Responsibility as a Business

An entrepreneur must not only search for financial stability but also for social stability. Nowadays the society is well educated in all aspects and expect more from products. The excellent quality of a product and good customer service will help them in the social aspect.

 

Social responsibility is shown by the owner of a business when there is a balance between the following aspects:

-       Economic: Effective and efficient production

-       Social: To look for the good living of the members of society

-       Environment: To lower any impact to the environment 

 

Principles of Social Responsibility:

The UNO (United Nations Organizations) promotes ten principles:

The business must…

1.     Support and respect the protection of human rights

2.     Make sure they do not violate the human rights

3.     To support the liberty of association

4.     Support the elimination of hard work

5.     Support the elimination of child work

6.     Do not support discrimination in the workplace

7.     Maintain focus in favor of environment 

8.     Promote greater environmental responsibility

9.     Favor the development and diffusion of technologies that respect the environment

10.  Work against corruption in all its forms


Examples of Socially Responsible Corporations

Social responsibility takes on different meanings within industries and companies. For example:


Starbucks Corp. (SBUX) committed to social responsibility from the start, including sustainability and community welfare. It purchases Fair Trade Certified ingredients to manufacture products and actively supports sustainable farming in the regions where ingredients are sourced.


Ben & Jerry’s Homemade Holdings Inc. has integrated social responsibility into the core of its operations. Like Starbucks, the company purchases Fair Trade Certified ingredients.


The Lego Group, manufacturer of Lego toys, has committed to reducing its carbon impact. It was named a World Wildlife Fund Climate Savers Partner in 2014.


Salesforce.com Inc. (CRM) developed what it calls the 1-1-1 model. The company dedicates 1% of its equity, 1% of its product, and 1% of employees’ time back to the community.


Big-box retailer Target Corp. (TGT), also well known for its social responsibility programs, has donated money to communities in which the stores operate, including education grants

Comments

Post a Comment

Popular posts from this blog

1st Bac - The Entrepreneurship Ecosystem

Image
  https://youtu.be/mW6dGqp4YYQ The entrepreneurship ecosystem 1. What is an entrepreneurship ecosystem? 2. Stability 3. Activity  4. Entrepreneurs 1. What is an entrepreneurship ecosystem? An entrepreneurship ecosystem is an economic, social, and cultural environment comprising multiple stakeholders involved in or benefitting from concentrated activities related to entrepreneurship. These stakeholders are individuals, organizations and institutions across the private and the public sector such as entrepreneurs, investors, government, military, aid agencies, universities, research centres, professional services firms, local communities, and many more. The activities carried out by the stakeholders are largely geared towards facilitating entrepreneurship in a wider sense. Although these activities are not following a concerted approach they are interrelated. Entrepreneurs and investors represent the nucleus of an entrepreneurship ecosystem around which everything revolves. 2. St...
Read more

1st Bac - Ecuadorian Institute of Social Security

Image
  Benefits of being affiliated to IESS When a worker is affiliated with the IESS, immediately, he begins to have the right to a series of benefits, especially related to the field of health protection that, in several cases, can be affected by the exercise of labor activity you have been hired for. Among the main obligations that must begin to be fulfilled, in a timely manner, from the moment a worker joins the IESS are: payment of personal contributions, payment of employer contributions and payment of reserve funds. Employer contributions It is the additional payment to the worker's compensation that the employer must make on a monthly basis. In the case of private sector workers, who are in a dependency relationship, the contribution is equal to 11.15% that must be paid to the IESS during the first 15 days of each month. Hence, this item must be part of the monthly budget of costs and expenses required by the operation of the business that has been created by the entrepreneur. P...
Read more

3rd Bac - Cost-Benefit Analysis

Image
  https://www.youtube.com/watch?v=7tdKkeNClPE&ab_channel=ConservationStrategyFund What Is a Cost-Benefit Analysis (CBA)? A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action. Some consultants or analysts also build models to assign a dollar value to intangible items, such as the benefits and costs associated with living in a certain town. What is the formula for CBA? The output of cost benefit analysis will show the net benefit (benefits minus cost) of a project decision.  For example: Project A:  Build a new product will cost 100,000 with expected sales of 100,000 per unit (unit price = 2). The sales of benefits therefore are 200,000.  The simple calculation for CBA for this project is 200,000 monetary benefit minus 100,000 cost equals a ...
Read more