GOVERNANCE AND ETHICS - Learning Unit 3 Stakeholders in Corporate Governance
GOVERNANCE AND ETHICS - Learning Unit 2 The Legal and Regulatory framework of Corporate Governance in South Africa
GOVERNANCE AND ETHICS - Learning Unit 1: Introduction to Corporate Governance and Ethics
All for this textbook (6)
Written for
University of the Witwatersrand (wits)
Unknown
1
review
By: busisiwedube1 • 10 months ago
Seller
Follow
carmencrooney
Reviews received
Content preview
GOVERNANCE AND ETHICS
Learning Unit 6 : CSR, sustainability, and corporate citizenship
Theme 1: Corporate citizenship, responsibility, and sustainability
LO1: Explain the concept of corporate citizenship with specific reference to:
Corporate social responsibility (CSR) and corporate social investment (CSI); The
impact of companies on society; and How the profit motive of a company is married
with corporate citizenship.
Can companies be citizens?
As legal beings they have no physical existence, companies can only act through their
human agents.
They are incapable of the kind of physical present human beings haven't society, yet through
their actions they are able to have significance and far-reaching impact on society.
Accompanies both an economic institution and a corporate citizen.
The reference to companies as corporate citizens is a metaphorical reference to the fact that
companies have a presence like or exceeding that of a society's human citizens.
The concepts of corporate citizenship is complex and it is often difficult to separate activities
implied by corporate citizenship from other corporate activities such as reputation building
common marketing and public relations.
These days we have high expectations of what companies should be. It is not enough that
they have good products.
They also need to be good citizens; we expect them to:
- minimize their social and environmental harm,
- to report their impacts, and give money to charity
1
, The lobby for good corporate citizenship has gained in prominence and the study of
corporate governance:
- A company's corporate citizenship credentials are now as important as its regulatory
compliance and risk management practice in evaluating the quality of a company's
corporate governance.
- But a company's corporate social responsibilities must coexist where and not
override a corporation's fundamental obligation to make a reasonable return for its
investors.
Corporate social responsibility (CSR) and corporate social investment (CSI)
} Corporate citizen: co is a person in its own right
} Corporate citizenship: emphasizes the idea the corporations have rights and duties
as individuals that are distinct from those of their shareholders and directors.
} Corporate social responsibility focuses on the good that companies are expected to
do in the course of being or becoming good corporate citizens.
} Corporate Social Investment: one element of a CO’s CSR.
Corporate social responsibility
- Focuses on the good that companies are expected to do in the course of being good
corporate citizens.
- The World Bank defines it as the commitments of business to managing and
improving the economic, environmental, and social implications of its activities at the
firm, local, regional and global levels.
The term corporate social responsibility and corporate social investments have historically
been used interchangeably but recent trend has been to recognize CSI as one element of a
company CSR activities.
CSI should not be viewed as an exercise in grudging compliance rather companies should
seek to ensure that their business success is visible in the communities in which they
operate.
CSR policies should be integrated across a company to avoid missing synergies and
reducing compliance to a tick box exercise.
2
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller carmencrooney. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $4.50. You're not tied to anything after your purchase.
