"CSR has four components: economic, legal, ethical, and philanthropic. Which responsibility do you think is right for the society? Do you think different businesses would act upon it?"
I believe that it is a mixture of all four components of Corporate Social Responsibility (economic, legal, ethical, and philanthropic) that is what is right for society considering that corporate social responsibility itself is a business's concern for society's welfare.
Philanthropic responsibilities are about being a good corporate citizen. Corporations take on philanthropic responsibilities by contributing resources to the community and improving the quality of life of society. Because large corporations have so much power in society they should take on philanthropic responsibilities.
Ethical responsibilities are about doing what is ethical, which means that a corporation is doing what is right, just, fair, and avoiding harm.
Legal responsibilities are about obeying the law, doing what is legally considered right and not wrong. If corporations don't do what is right legally they will most likely have to suffer the legal consequences.
Finally, economic responsibilities are about being profitable. If a corporation isn't profitable they won't succeed.
Businesses should act upon all of these responsibilities because combined they improve society as a whole.
What are some examples of large corporations taking on corporate social responsibilities?
Friday, February 8, 2013
Wednesday, February 6, 2013
Cause-Related Marketing
Cause-related marketing is defined by our textbook as "the cooperative marketing efforts between a for-profit firm and a nonprofit organization."
One cause-related marketing campaign that I have stumbled upon is a collaboration between Chili's Grill and Bar and St. Jude Children's Research Hospital. The Create-A-Pepper to Fight Childhood Cancer campaign was established in 2002 in seven Memphis-area Chili's, and has now become a nation wide campaign. To participate in this campaign, customers donate $1 and color a chili which gets posted on the wall of the restaurant. T-shirts and Zip-up hoodies are also sold in an effort to raise more money for the campaign.
It occurs annually during the month of September (Childhood Cancer Awareness Month) and to date the campaign has donated over $41 million to St. Jude. They have made a commitment to donate at least $50 million, which is the largest donation in the hospital's history. There is a facility named after Chili's, The Chili's Care Center, which provides state-of-the art technology and care.
To learn more about the cause-related marketing campaign you can visit http://www.stjude.org/chilis.
Chili's Create-A-Pepper campaign has been extremely successful, and there have been no problems with it, it is a clean campaign. Can you think of any other successful cause-related marketing campaigns? Where they created selflessly, or did the company have another agenda?
One cause-related marketing campaign that I have stumbled upon is a collaboration between Chili's Grill and Bar and St. Jude Children's Research Hospital. The Create-A-Pepper to Fight Childhood Cancer campaign was established in 2002 in seven Memphis-area Chili's, and has now become a nation wide campaign. To participate in this campaign, customers donate $1 and color a chili which gets posted on the wall of the restaurant. T-shirts and Zip-up hoodies are also sold in an effort to raise more money for the campaign.
It occurs annually during the month of September (Childhood Cancer Awareness Month) and to date the campaign has donated over $41 million to St. Jude. They have made a commitment to donate at least $50 million, which is the largest donation in the hospital's history. There is a facility named after Chili's, The Chili's Care Center, which provides state-of-the art technology and care.
To learn more about the cause-related marketing campaign you can visit http://www.stjude.org/chilis.
Chili's Create-A-Pepper campaign has been extremely successful, and there have been no problems with it, it is a clean campaign. Can you think of any other successful cause-related marketing campaigns? Where they created selflessly, or did the company have another agenda?
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