Examples of Social Responsibility Theory. Master real-world business skills with our immersive platform and engaged community. We are also committed to supporting socially responsible vendors and business practices. It has partnered with nonprofits such as the Marine Conservation Institute, the Surfrider Foundation, the Pacific Marine Mammal Center, San Diego Coastkeepers and the Hawaii Wildlife Fund. Many business owners find it beneficial to craft a corporate social responsibility document. A portion of all sales goes to the company's nonprofit arm, the Dream Builders Project, which provides services and monetary donations to select charities. Avoiding "Greenwashing": "Greenwashing" is the use of environmentalism in marketing efforts without actually implementing sustainability best practices. In 2014, Bill Gates was the single largest giver in the world, donating $1.5 billion in Microsoft stock to the Bill and Melinda Gates Foundation. Her company,Â Headbands of Hope, sells made-in-the-U.S. headbands. Updates to your application and enrollment status will be shown on your Dashboard. Integrate HBS Online courses into your curriculum to support programs and create unique It's important to consumers that companies demonstrate corporate social responsibility. educational opportunities. Social responsibility is an increasingly important factor for today's consumers. In addition, consumers who are concerned about their health and exposure to toxins often look for organic labels on the products they buy. Many of today's consumers care about more than just the quality of your products. These include: Connecting with socially responsible businesses, and reading case studies, can help you and your team develop a realistic plan for meeting your social and business goals. HOH has donated headbands to every children's hospital in the United States. Made locally: Many consumers want to support local businesses and manufacturers. An example of economic responsibility is when a company modifies its manufacturing processes to include recycled products, which could benefit the company by potentially lowering the cost of … The company donates 10 percent of each sale to a cause you select at checkout. The media gives information and awareness on health … Help your employees master essential business concepts, improve effectiveness, and The four types of Corporate Social Responsibility are environmental sustainability initiatives, direct philanthropic giving, ethical business practices and economic responsibility. The basic characteristics of a social market economy. Howe… Since its outset, the company has championed its 1-1-1 philanthropic model, which involves giving one percent of product, one percent of equity, and one percent of employees’ time to communities and the nonprofit sector. In addition to sourcing organic materials and products, companies may also be involved in recycling efforts, or take steps to use recycled packaging. Many businesses will advertise charitable initiatives, such as annual fundraisers for a cause or a volunteer project their staff worked on. Artist and mother Rebecca Peragine began selling her whimsical wall art, cards and posters to promote environmental education for children. As part of its Circle of Care initiative, Rainbow Light helps fight global malnutrition with its supplements through Vitamin Angels, a nonprofit that delivers vitamins to at-risk mothers and babies. Unfortunately, the practices of some businesses have left people thinking of "business" and "profit" as dirty words. All Rights Reserved. This group has taken on projects including a discussion of Internet governance and a reasonable set of rights that people should have with respect to use of the Internet and other technology.