CSR

Corporate Social Responsibility

Corporate Social Responsibility

Introduction

For several decades, the concern for ethics in business and organizations has not stopped growing. The insight of the contradictory consequences of corporations on various facets of life has changed buyers' utilisation patterns in developed countries, and progressively in evolving countries. The ethical and social audits have emerged in recent years as an essential tool in two ways: as a crucial mechanism to respond to increased demand for transparency and a tool for the management of organizations in a more complex economic, social and culture. Through this public information, system argues the transparency and credibility of the betting business ethics, balancing the social, economic and environmental organization (Scott, 2000, 443).

An ethical Audit (HSBC's current approach to car)

Being a consultant I am going to perform ethical audit of HSBC in relation to CSR. Corporate social responsibility has been a recognized as an essential component of organization existence in the contemporary age. CSR has been recognized as a fundamental objective of HSBC success in its 140 years of history. HSBC success is the main reason of investments and initiatives by HSBC directed towards employees, customers, and other stakeholders. HSBC has actively taken CSR as an opportunity to strengthen the image in external communities that, not only strengthened the brand equity of the company but also added significant value in terms of business growth (Livesey, 2002, 313).CSR Program at HSBC

HSBC is ranked as the second largest bank in relation to its ethical practices. Corporate Social Responsibility (CSR) is decisive to HSBC success in China and worldwide countries. HSBC believes that CSR does not concern only with protecting the environment, but it requires adaptive approach towards society, environment, charitable donations, and building approaches for community development (HSBC, 2010). HSBC tries maintaining the balance between the environments, society its corporate business. HSBC vies the CSR activities as the as management principle of business sensitively and responsibly for long-term oriented success (Hopkins, 2007). HSBC claims that it is not concerned with the goals making profits only. One of the editorials from the president of HSBC Group said that HSBC believes in building trust and cooperation with society to determine success of HSBC in future (Filho, 2009). HSBC is concerned with addressing the expectations of shareholders, employees, customers, and stakeholders (Wickham, 2004, 22).

CSR Activity Domains

CSR Activities at HSBC is not limited to one domain. Instead, it is an integrated approach in multiple domains. HSBC Group emphasize on education and social development, consumer education, ethical banking, corporate governance, environmental protection, and HSBC Climate Partnership (HSBC CSR, 2010). Consumer education is related to providing investment to help consumers understand financial investment and associated risks (Garriga, 2004, 51).

HSBC has taken active actions for the social development of the people, addressing the risks, vulnerabilities, and crimes that are arising in the banking industry. Protection of the environment is also main focus of HSBC as a functional domain of its CSR activities. In countries like Pakistan, India, and Malaysia, HSBC has initiated different projects to control environmental pollution, such ...