CSR - the Essential Economist Podcast

This podcast is a couple of years old, but frankly it is so good that I think it ought to be essential listening to every colleague and student preparing students for exams which feature CSR…

The podcast is streamed below.  I have jotted down some summary notes further below which you are free to use as required.

NOTES

Interview with Daniel Franklin (2008)

The sceptics about CSR - their battle has been lost.
Focus now is what companies are actually doing, not whether it is a good or bad thing

Two good examples of CSR best practice:
- M&S Plan A - lead from the top, but not trying to get too far ahead of customers
- GE - Ecomagination - investing in green technologies

Why has CSR become mainstream?
- Expectations of companies have risen
- Consumers much more aware of the actions of firms
- increased scrutiny by NGOs and pressure groups
- Business reputation is at risk if they are found to have behaved inappropriately
- Environmental concerns - state of the planet
- increasing focus on risk management

How are companies getting CSR wrong?
- Many firms make a lot of noise about CSR, but dont think or act deeply
- CSR located in the PR/marketing department
- Phrase CSR covers such a wide area of activities; companies are too scatter-gun rather than focusing on the benefits that matter to the business, shareholders and society

Can CSR be a bad thing?
- If it is not good for the business, then it is no good
- Well-intentioned activities can end up damaging businesses (e.g. regulations, laws)

Resistance to CSR
- Several reasons why firms ignore CSR
- Ignorance of potential pressures (may be surprised in the future)
- Deliverately ignoring CSR - can’t see the benefits or operating in a sector that is not really under pressure

CSR as an opportunity for business
- Attracting, motivating and retaining the best people
- Need to be an organisation which top people want to work for
- Green agenda: opportunity to reduce operating costs as well as innovate to create new products and services
- A mindset of being closely attuned to changing customer and market needs

Measuring CSR
- Difficult to measure / quantify?
- Output side: how much good is being done?
- Various rankings and reporting initiatives (but are these box-ticking exercises) + potentially provide a form of cover for firms who are not really taking CSR seriously

CSR as a global concept
- CSR is undoubtedly spreading through the global economy
- Globalised supply chains (e.g. multinational supply chains)
- E.g. toy industry & product recalls from Chinese factories
- Firms within emerging markets increasingly looking to expand globally - now coming under scrutiny
- Growing awareness/appreciationg of CSR in China, albeit from a low-base
- Pressure/conflict between growth & CSR

Relationships between Business & CSR activists
- Changing relationship between business & NGOs
- Less confrontational and more partnership based
- Some NGOs still very suspicious of / hostile to business
- Collaboration between the two helps develop the relationship
- Helps business reach consumers in poorer countries

CSR and the Economic Downturn
- Is CSR a discretionary add-on or is it here to stay?
- A test of how serious businesses value CSR
- Management under pressure to justify the benefits

A detailed look inside Apple’s Foxconn factory [24 Apr 2012]
Revision Presentation - Business Ethics [7 Apr 2012]
Revision Presentation - Corporate Social Responsibility [6 Apr 2012]
Revision Presentation - Business and the Environment [6 Apr 2012]
CSR - Tesco leads firms having second thoughts about unpaid work experience scheme [22 Feb 2012]
Video starter - Inside the iPad factory [21 Feb 2012]
CSR - Growing public support for responsible capitalism [28 Dec 2011]
Is this CSR Champion Acting Like Scrooge? [11 Dec 2011]
International operations decisions - Adidas trainers for $1? [26 Nov 2011]
Olympus Epic Fail [9 Nov 2011]
Car Wars - VW v Greenpeace [17 Oct 2011]
CSR - 40 Years of Upsetting Big Business [15 Sep 2011]
Fresh Examples of Creating Shared Value [24 Aug 2011]
The Case for Transformation [29 Jul 2011]
New study shows CSR pays dividends [11 Jul 2011]
Shareholder revolt over executive pay at Burberry [7 Jul 2011]
CSR - £20m extra annual profit for M&S from Plan A [18 Jun 2011]
BUSS4 CSR Research Bullet 6 [18 Jun 2011]
BUSS4 CSR Research Bullet 5 [18 Jun 2011]
BUSS4 CSR Research Bullet 4 [18 Jun 2011]
BUSS4 CSR Research Bullet 3 [18 Jun 2011]
BUSS4 CSR Research Bullet 2 [17 Jun 2011]
BUSS4 CSR Research Bullet 1 [17 Jun 2011]
Quis custodiet ipsos custodes? Or who guards the guardians? Primark and The BBC. [16 Jun 2011]
CSR & Strategy - Why the Cooperative Group changed to survive [16 Jun 2011]
CSR - Evidence of Failure to “Walk the Talk” when it comes to Carbon? [15 Jun 2011]
CSR - Should Apple Pay More for its Geniuses? [14 Jun 2011]
CSR - Greenpeace takes on Barbie by recruiting Ken [13 Jun 2011]
CSR - The Top UK Businesses for CSR in 2011 [13 Jun 2011]
CSR - The Business Case For CSR - Superb Data for BUSS4 [13 Jun 2011]
Crisis? What Crisis? [31 May 2011]
CSR - Is it time for McDonalds to ditch Big Ron? [22 May 2011]
CSR - Puma first to publish environmental impact costs [16 May 2011]
CSR - Has Social Responsibility Failed? Insights from Dame Anita Roddick [12 May 2011]
CSR - Chocolate the Bitter Truth [12 May 2011]
CSR - Can better social responsibility boost the UK economy by £17bn? [12 May 2011]
CSR - Can we trust CSR claims or is it greenwash? [12 May 2011]
CSR in 3D [12 May 2011]
CSR - Sustainable Fish Needs a Packaging Boost [5 May 2011]
CSR - The PPI Scandal - so much for being socially responsible [5 May 2011]
CSR and Business Legislation - The Bribery Act comes to town [5 May 2011]
CSR - Evidence on the Greenhouse Gases of the top 300 European Firms [26 Apr 2011]
Private firms that grow big! [26 Apr 2011]
CSR - Picture Quiz [22 Apr 2011]
CSR - A responsible company from day one? [21 Apr 2011]
CSR - Apple: Big Profits but Dirty Data? [21 Apr 2011]
CSR - Evidence that Sustainability Works as a Business Strategy [19 Apr 2011]
CSR - Ikea’s Never Ending List… [25 Mar 2011]
CSR - Adidas restate’s its CSR objectives [25 Mar 2011]
CSR - Sport and Business Rediscover the CSR Buzz [25 Mar 2011]
CSR - Visioning the Future (Great Lesson Videos) [23 Mar 2011]
CSR - Corn: A Matter of Life or Death? [23 Mar 2011]
CSR - Responsible Jeans?  Its a Blast… [22 Mar 2011]
AQA BUSS4 Toolkit on CSR now available [15 Mar 2011]
CSR - Insights from the Leader of the Revolution [14 Mar 2011]
CSR in the Ad Break - Dettol [14 Mar 2011]
CSR - Meet ISO 26000 - the new standard for social responsibility [13 Mar 2011]
CSR - The Case Against CSR [12 Mar 2011]
CSR - All Change at BP: New Era, New Responsibilities [12 Mar 2011]
CSR - Unilever’s Sustainable Living Plan [11 Mar 2011]
CSR - An Interview with Paul Polman (Unilever) [11 Mar 2011]
CSR - Greenwashing & Carbon: Consumers Just “Don’t Believe It”! [10 Mar 2011]
CSR - Awesome Research Data on the Issue of Corporate Trust [6 Mar 2011]
CSR - Is Social Responsibility Vital for Business Survival? [6 Mar 2011]
CSR - How Transparent are the World’s Oil Companies? [6 Mar 2011]
CSR - How Companies Avoid Paying Tax [6 Mar 2011]
CSR - McDonalds and the Case for the Defence [5 Mar 2011]
CSR - What is going on at 250-266 Ecclesall Road? [5 Mar 2011]
CSR becomes the Strategy for Co-operative [5 Mar 2011]
BUSS4 - Research Theme for 2011 - CSR [26 Feb 2011]
CSR - Links to PLC Corporate Social Responsibility Reports [26 Feb 2011]
Stunning Video - CSR, Ethics and Milton Friedman [26 Feb 2011]
CSR - The Key UK CSR Organisations [25 Feb 2011]
CSR - Green Growth Case Studies from UK Businesses [25 Feb 2011]
CSR - The Mega Dairy, Economies of Scale and Cornflakes [25 Feb 2011]
CSR - Costing the Earth & Reporting Sustainability [24 Feb 2011]
CSR - BBC One Planet on Coca-Cola & Sustainability [24 Feb 2011]
CSR at the Movies - Capitalism a Love Story [23 Feb 2011]
CSR at the Movies - Thank You for Smoking [23 Feb 2011]
CSR at the Movies - Black Gold [23 Feb 2011]
CSR - The Word Cloud [23 Feb 2011]
CSR - Project Shakti [22 Feb 2011]
BUSS4 Section A Research Briefing Days - 2011 Research Task [22 Feb 2011]
CSR - Comic Relief, Crisps and Cause-Related Marketing [22 Feb 2011]
CSR - Cooperative Group invites you to join a revolution [21 Feb 2011]
BUSS4 2011 - Introducing the tutor2u Twelve [20 Feb 2011]
CSR at the Movies - The End of the Line [20 Feb 2011]
CSR at the Movies - Wal-Mart: the High Cost of Low Price [20 Feb 2011]
CSR at the Movies - Supersize Me in 7 Minutes [20 Feb 2011]
Introducing a new kind of business organisation - the benefit corporation [17 Feb 2011]
CSR - What is “Creating Shared Value”? [16 Feb 2011]
CSR - Lesson Video: Primark on the Rack [16 Feb 2011]
CSR - Lesson Video: Child Labour in Bangladesh [16 Feb 2011]
Michael Porter - Shared Value and the Limitations of CSR [15 Feb 2011]
CSR - Michael Porter speaks on Creating Shared Value [15 Feb 2011]
CSR - Apple audits the supply chain [15 Feb 2011]
CSR - Avoiding the child labour hotspots [15 Feb 2011]
CSR - Salad Slaves - Supermarkets and Corporate Irresponsibility? [8 Feb 2011]
CSR - Branson, Paphitis and Meaden Turn into Eco Warriors [7 Feb 2011]
CSR Video - Business Benefits of Corporate Social Responsibility [6 Feb 2011]

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