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1、Corporate Social ResponsibilityThere are several different definitions about Corporate Social Responsibility (CSR),according to United Nations Industrial Development Organization; CSRis ”a management concept whereby companies integrate social and environmental concerns in their business operations a
2、nd interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic, environmental and social imperatives, while at the same time addressing the expectations of shareholders and stakeholders 1 People, planet and profit, also kn
3、own as the triple bottom line forms one way to evaluate CSR. People refers to fair labor practices, the community and region where the business operates. Planet refers to sustainable environmental practices. Profit is the economic value created by the organization after deducting the cost of all inp
4、uts, including the cost of the capital.Idea: Triple bottom line. The Economist. Nov 17, 2009. Retrieved March 20, 2013Therefore, to fulfill CSR, corporations need to do three things really well. Firstly, corporations need to realize that their business activities would influence the relative social
5、environment greatly; meanwhile, the latter could also influence the possibility of corporate success. Secondly, the influence of corporate business activities on economy, society and environment not only benefits the corporations themselves, but also benefits the surrounding social groups. Thirdly,
6、corporations need to cooperate closely with local organizations, communities, government sectors to realize those benefits.Why it is essential for corporations to undertake their social responsibilities? We can understand this by the following aspects.1. public wishes： Corporations need to react to
7、public requirements.2. Long-term profits: Corporations who undertake social responsibilities tend to obtain more stable long-term profits; and this is a corollary of a better corporate image.3. Moral obligation: Corporations can and should have consciences, because responsible activities are in thei
8、r own interests.4. Public image: Corporations try their best to strengthen their own public images in order to get more customers and better employees, enter the currency market and obtain other benefits.5. Better work atmosphere: The participation of corporations can solve a lot of social problems,
9、 thus to create better social reputations and more charming groups. This kind of work atmosphere is conducive to attract and retain the staff.6. Reduce the government intervention: Through undertaking social responsibility, corporations can expect to reduce the government intervention so as to reduc
10、e the economic costs.7. The balance between responsibility and authority: Corporations have1tremendous power and it has to give the same level of responsibility to balance. When the power is greater than the responsibility, irresponsible behaviors will run against the public benefits.8. Shareholder
11、s benefits: Over a long term, corporations who undertake social responsibilities will be regard as less risky in the stock market, which will bring them higher yields.9. Resources possession: Corporations have all kinds of talents. They have abilities to help public projects and charity projects.Fro
12、m the above, we can realize the interdependent relationship between corporations and the society. Corporation is the basic economic unit which supports human society survival. If corporations lost production and creation functions, they lost the fundamental value of their existence. Therefore the fi
13、rst factor of corporations is to improve production, create market benefit and realize its economic responsibility. However, we must see at the same time, corporations and society are also tightly involved. Whether corporations develop or disappear, it will always be social to undertake the result.
14、Furthermore, society is the survival environment for corporation, without a good environment, corporations are also difficult to survive. So corporations and the society are in a coexistence relationship.But corporate benefits are different from social benefits. The first target of corporations is t
15、o enhance their competitiveness. Their pursuit of efficiency is naturally. Only having market competitiveness, can corporations gain economic profits and finally to achieve the purpose of service to the society.From more and more corporate cases happened in the world, we can realize the interactive
16、relationship between enterprise and society more and more strongly. Corporations should undertake the social responsibility actively, which will strengthen corporations-terlmondgevelopment abilities. They can get more publictrusts and higher reputations. The intangible assets help corporates not onl
17、y to establish good corporate images, but to make their products and services more attractive to consumers, so as to obtain a better position in market competition, and get sustainable profitability.Since it is so important for corporations to undertake social responsibility, how should they do? The
18、re are three stages of CSR.A common and basic approach is philanthropy. This includes monetary donations, skills or other aids given to local organizations and poor communities in developing countries or regions. A medium approach is compliance as risk management. Risk management is a central part o
19、f many corporate strategies. Corruption scandals or environment accidents can even ruin a long-history corporation in several days. The highest stage of CSR is increasing corporate responsibility interest by innovation which is called Creating Shared Value (CSV). This stage is based on the idea that
20、 corporate success and public welfare are interdependent. Corporations can create shared value by reconceiving products and markets, redefining productivity in value chain and building supportive industry clusters.Instance: How YOKOGAWA(Suzhou) undertakes the CSR?YOKOGAWAs a Japanese electrical engi
21、neering and software company, with business based on its measurement, control, and information technologies. The company is listed on the Tokyo Stock Exchange and is a constituent of the Nikkei 225 stock index. YOKOGAWA Suzhou) is a sole corporation engaging the production of recorders and flow mete
22、rs.n theCDHETdI, JFld FlhirBlJlKin L Bjerms to Busnss M COWW.Coqwalfii fownwicB Risk maragemort物田即Cornpiancff匕 2hut I fl M I加如 gfi加通of fewMWd* Mfdud，北6皿斡 1931KlIT IfwlEed WEm Sbt-d Cmnpjet Edehrfcs af s gEies aiwr: meKe*由 e thf-ltO 360DC tt*Fdird wt r th* CRYOKOGAWAbelieves the most important social
23、 responsibility is to help build a sustainable society through its business activities. Yokogawas CSR concept is shown as below picture. 3 this picture, we can realize that the top corporate philosophy of YOKOGAWAs As a company, our goal is to contribute to society through broad-ranging activities i
24、n the areas of measurement, control, and information. Individually, we aim to combine good citizenship with the courage to innovate. Yokogawa continues to do its share by providing products and services of the highest quality and reliability to support and protect the backbone of industry and societ
25、y so as to assist in saving energy, conserving resources and preserving environment. Yokogawas constant mission is to create new values for their customers, through which they work with customers to build the future of the clients, industries and the earth, and contribute toward the creation of a su
26、stainable society.They have also improved corporate governance and upheld compliance to ensure sustainable growth. In 2009 they signed the United Nations Global Compact, and since then they have worked to practice the ten principles with respect to human rights, labor, environment and anti-corruptio
27、n. YokogawaGroup has a risk management system in place for the purpose of controlling the likelihood of events that might prevent its organizational units from achieving their goals. Based on the risk management activities carried out autonomously by the respective organizational units, Yokogawas ma
28、nagement gains a comprehensive understanding of risks surrounding the group from the two standpoints of business activities and internal control, and thereby deals with such risks. In YOKOGAWA(Suzhou), Business Management Division, the internal watchdog, carries out the supervision on purchasing and
29、 engineering activities independently to prevent the occurrence of violation of CSR.Since YOKOGAWA regards conservation of global environment as an important management issue, they pay close attention on it. In YOKOGAWASuzhou), many social activities were organized as assistant measures to support t
30、his vision including Cleanup Event on hills or in parks, Green Riding across the city, Classifying Rubbish sponsor, etc. Let s take an overview on the environmental policy of Yokogawa Group as below.1. Establish, maintain, and improve its environmental management system.2. Provide environmental trai
31、ning.3. Abide by legal regulations.4. Carry out resource recycling-based operations.5. Minimize environmental pollution.6. Create environmentally friendly products.7. Supply society with environmental solutions8. Contribute to local communities.9. Make environmental information available to the publ
32、ic.Philanthropy is another important aspect for YOKOGAWAengaging Corporate Citizenship. Including monetary and in-kind donation, YOKOGAWA (Suzhou) called on the employees to take part in the social activities to help the vulnerable groups. For example, they dedicated continuously weekend foster fami
33、ly activity at the Suzhou Municipal Social Welfare Home. The volunteer employees enjoyed with the children at the home, acting as weekend dads and moms. This activity gave the children, who rarely have a chance to feel the warm affection of parents in their daily lives, an opportunity to enjoy a hap
34、py day filled with smiles as a family.Last but most fundamentally, the employees of YOKOGAWAare regarded as valuable as Human Assets. They have established a compliance guideline that requires the management to comply with the international standards on human rights; consider the different geographi
35、cal and cultural backgrounds of other employees when working with them; refrain from discrimination on the basis of race, nationality, sex, religion, age or disability of any kind; and drive home these principles to all the subsidiaries. YOKOGAWAmakes an effort to provide a work environment where th
36、e employees are able to gain career development while maintaining a good balance between their work and private life.References1. Su Yong, 2003, Modern Management Ethics, Petroleum Industrial Press.2. Cheng Gang, 2006, Stakeholders and Corporate Ethics, East China University Of Science and Technology.3