Key aspects: Corporate Social Responsibility Read the following text. Think and talk about what you think is, or should be, the social responsibility of companies and businesspeople. Some economists believe that the only responsibility of business is to increase its profits (the “Friedman doctrine”). Others argue that economic performance cannot be the only focus. What’s your opinion? 3.10 Corporate Social Responsibility “CSR, including consideration of environmental sustainability, has evolved in recent years as a […] way of thinking about a company’s impact and interaction with society. It covers subjects that affect all companies, such as employment standards, equal opportunities, diversity and carbon emissions; as well as those that are specific to a particular industry, such as advertising to children, drug pricing, nanotechnology or sustainable use of water. […] For the CEO and board, the challenge is to have a clear map of their business’s impact on and interactions with society, a way of exploring and agreeing the company’s approach to the challenges these raise, and then a way of ensuring that business operations and performance carry through the direction provided by their leadership.” “Corporate social responsibility as a business practice involves putting certain funds toward organisations or people who are in need of aid. Some corporations put part of their proceeds towards programs that feed the hungry, others towards organizations that clean up the environment. Businesses are also expected to maintain a certain level of responsibility in the way they run their operations. A company can be viewed as ethically irresponsible if it knowingly brings harm to the environment or if its business tactics cause employees to be treated unfairly. Corporate social responsibility has multiple forms. As the world has become increasingly connected, the consumer has developed more concern for the ethics behind the goods and services that they purchase. Consumers are not the only ones looking for socially responsible corporations; employees are doing the same. Many individuals looking to go into the field of business want to work for an ethically responsible company. […] While businesses are designed to make money and bring in a profit, it is important to know how to resolve ethical and governance issues in a socially responsible manner. Businesses have to be aware of new technologies, the trending demands of their clientele and changes in market conditions so that they can continue to operate in ways that are both responsible and profitable.” Researching & discussing current CSR trends ■■ Read the previous section on the basics of CSR. Translate unknown words and learn how to pronounce them (1 5.4). Look up concepts you do not understand. ■■ Using a search engine that is set to English (1 5.6), find out some key facts on at least three of the following search terms: − − B Lab certification − − triple bottom line − − corporate governance and accountability − − differences between shareholders and stakeholders − − ESG ratings − − greenwashing − − Exxon Mobil shareholder revolt and role of Engine No. 1 (sometimes called Engine Company #1) − − Netherlands court order: Shell CO2 emissions reduction (45% by 2030) ■■ Using your findings as well as the material from this unit and your previous knowledge, do the sample Matura task below (1 3.14). ■■ When you feel that you are finished with your individual long turn (= your presentation or speech), use one of the phrases from the collection below (1 3.13) to make the transition to the dialogue. ■■ These phrases also work well to ask your dialogue partner for their opinion during the second part of the exam (and, of course, in your later life). To do [A] [F] 3.11 32 Key aspects Strategies Sample task 3 Companies & CSR Nur zu Prüfzwecken – Eigentum des Verlags öbv
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