13.7 Role of Businesses
369
businesses benefit when prioritizing CSR with small changes. Whereas profits could
be the ultimate objective of businesses, responsible businesses can attract more
investors, minimize their vulnerabilities, and tackle stakeholder concerns. There is
more interest in corporations demonstrating CSR today.
13.7.1.1 Examples of Corporate Social Responsibility (CSR)
Organizations
As shown in Table 13.2, numerous organizations have successfully integrated
CSR into their programs. General Electric (GE) is one of the CSR organizations
whose GE Foundation, committed towards the transformation of communities and
shaping tomorrow’s diverse workforce, contributed about $88 million to educational
and community programs in 2016 (Castelló and Lozano 2009). Its Developing
Healthcare Programs often focus on access to healthcare globally for communities.
Deloitte is committed to spurring environmental sustainability and societal change.
Many of its employees donate time towards pro bono work. International Business
Table 13.2 Examples of Corporate Social Responsibility by companies
Company name
CSR activities
Walt Disney Company
Supports communities by instilling hope, happiness, and
comfort to children and families
VoluntEARS program encourages the employees to donate
their time
Google
Supports various initiatives to attain social objectives
Uses data to unearth racial injustice and improve
economic mobility
Bayerische Motoren
Werke (BMW)
Has a wide range of social sustainability programs,
including wellness, education, and intercultural
understanding
Dell
Rolled out the 2020 Legacy of Good Plan as its
commitment to foster human progress through
environmental sustainability, addressing community
challenges, and hiring diversity
Ingvar Kamprad Elmtaryd
Agunnaryd (IKEA)
Established the IKEA Foundation that focuses on Circle of
Prosperity, which funds health, education, and sustainable
income for communities in need
Starbucks
Sensitive to social responsibility and committed to
strengthening communities. For example, Starbucks
provides one million coffee trees to farmers
Ben & Jerry’s
Ben & Jerry’s Foundation is responsible for 7.5% of the
organization’s pretax profits that are allocated to
philanthropy. Every year, the foundation awards this
amount for funding social change, sustainability, and
community action
Source: Adopted from Idowu et al. (2013)
369
businesses benefit when prioritizing CSR with small changes. Whereas profits could
be the ultimate objective of businesses, responsible businesses can attract more
investors, minimize their vulnerabilities, and tackle stakeholder concerns. There is
more interest in corporations demonstrating CSR today.
13.7.1.1 Examples of Corporate Social Responsibility (CSR)
Organizations
As shown in Table 13.2, numerous organizations have successfully integrated
CSR into their programs. General Electric (GE) is one of the CSR organizations
whose GE Foundation, committed towards the transformation of communities and
shaping tomorrow’s diverse workforce, contributed about $88 million to educational
and community programs in 2016 (Castelló and Lozano 2009). Its Developing
Healthcare Programs often focus on access to healthcare globally for communities.
Deloitte is committed to spurring environmental sustainability and societal change.
Many of its employees donate time towards pro bono work. International Business
Table 13.2 Examples of Corporate Social Responsibility by companies
Company name
CSR activities
Walt Disney Company
Supports communities by instilling hope, happiness, and
comfort to children and families
VoluntEARS program encourages the employees to donate
their time
Supports various initiatives to attain social objectives
Uses data to unearth racial injustice and improve
economic mobility
Bayerische Motoren
Werke (BMW)
Has a wide range of social sustainability programs,
including wellness, education, and intercultural
understanding
Dell
Rolled out the 2020 Legacy of Good Plan as its
commitment to foster human progress through
environmental sustainability, addressing community
challenges, and hiring diversity
Ingvar Kamprad Elmtaryd
Agunnaryd (IKEA)
Established the IKEA Foundation that focuses on Circle of
Prosperity, which funds health, education, and sustainable
income for communities in need
Starbucks
Sensitive to social responsibility and committed to
strengthening communities. For example, Starbucks
provides one million coffee trees to farmers
Ben & Jerry’s
Ben & Jerry’s Foundation is responsible for 7.5% of the
organization’s pretax profits that are allocated to
philanthropy. Every year, the foundation awards this
amount for funding social change, sustainability, and
community action
Source: Adopted from Idowu et al. (2013)