Report on Corporate Social Responsibility (Csr): Five-Star Hotels
CORPORATE SOCIAL RESPONSIBILITY : A REPORT ON HOTELS (a) Introduction
Sales, consumer purchases fundamentally have always remained informed by quality; price and convenience but there had been a big change towards responsibly produced commodities. For example the demand in all of Europe for fair trade goods had raised from 51% in 2008 to almost 79% in 2012, consumer awareness for ethically produced commodities has also substantially risen. (Goff, 2012). Corporate Social Responsibility (CSR) and its extent has always been a practice usually dictated by the owner or the major stakeholders but in today’s world of infinite connectivity and social media, reputation can make or break a corporation.
CSR is usually a pledge taken by an establishment or corporation to set in place socio-ethically responsible policies in areas of work ethics, human welfare, environment and human rights. According to Smith, (2003), “CSR refers to the obligations of the firm to society or, more specifically, the firm’s stakeholders—those affected by corporate policies and practices.”
All major five star establishments today are owned and run by giant corporations and most of them have adapted a responsible approach of doing business by recognizing that in order to be successful in this current era they will have to win over their customers respect. Although most businesses have opted for the moral high ground, one can only wonder if the sentiments are genuine or just a successful Public Relations front?
(b) Objective of the report
In this report we will analyze and study CSR and its several impacts it has had on the hospitality industry. This report will elaborate upon several areas of business policy in relation to CSR that modern day five-star hotels have adapted and evaluate their merits, de-merits and legitimacy. We will further discuss criticisms CSR practices are facing. Finally this report will provide business/policy strategies and recommendations that can help a corporation
Sales, consumer purchases fundamentally have always remained informed by quality; price and convenience but there had been a big change towards responsibly produced commodities. For example the demand in all of Europe for fair trade goods had raised from 51% in 2008 to almost 79% in 2012, consumer awareness for ethically produced commodities has also substantially risen. (Goff, 2012). Corporate Social Responsibility (CSR) and its extent has always been a practice usually dictated by the owner or the major stakeholders but in today’s world of infinite connectivity and social media, reputation can make or break a corporation.
CSR is usually a pledge taken by an establishment or corporation to set in place socio-ethically responsible policies in areas of work ethics, human welfare, environment and human rights. According to Smith, (2003), “CSR refers to the obligations of the firm to society or, more specifically, the firm’s stakeholders—those affected by corporate policies and practices.”
All major five star establishments today are owned and run by giant corporations and most of them have adapted a responsible approach of doing business by recognizing that in order to be successful in this current era they will have to win over their customers respect. Although most businesses have opted for the moral high ground, one can only wonder if the sentiments are genuine or just a successful Public Relations front?
(b) Objective of the report
In this report we will analyze and study CSR and its several impacts it has had on the hospitality industry. This report will elaborate upon several areas of business policy in relation to CSR that modern day five-star hotels have adapted and evaluate their merits, de-merits and legitimacy. We will further discuss criticisms CSR practices are facing. Finally this report will provide business/policy strategies and recommendations that can help a corporation
References: Dean, P, 1997, “Examining the Profession and Practice of Business Ethics”, The Journal of Business ethics, Vol. 15, p. 16 Friedman, M, 1970, “Social Responsibility of a business to increase its profits”, The New York Times Magazine, United States, p 7 Goff, C, 2012, “Almost Famous” Ethical corporations ltd, Newark, DE, p 63 Hopkins, M, 2011, “Corporate Social Responsibility Defined”, MHC International, viewed on 22nd April 2013, from <http://mhcinternational.com/articles/definition-of-csr >