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DeBeers Corporate Social Responsibility - Research Paper Example

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This research paper describes DeBeers’ Corporate Social Responsibility. It analyses DeBeers' response to the importance of social responsibility by developing and implementing socially responsible, sustainable, strategies and practices. This paper outlines CSR group principles, mission and community building…
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DeBeers Corporate Social Responsibility
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Download file to see previous pages What is Corporate Social Responsibility? Three words stand out in this phrase: corporate, social, and responsibility. Simply states, it is the responsibility of business corporations (who work mainly for profit) to contribute to the welfare of the society in which it exists. Society is represented by the different persons the corporation comes in contact with. These include its customers, its employees, its shareholders, its community, and its country.
termed corporate social responsibility (CSR)….It refers to a company linking itself with ethical values, transparency, employee relations, compliance with legal requirements and overall respect for the communities in which they operate. It goes beyond the occasional community service action, however, as CSR is a corporate philosophy that drives strategic decision-making, partner selection, hiring practices and, ultimately, brand development.” - South China Morning Post, 2002
manage the impact they have on the environment and society. In particular, this could include how organizations interact with their employees, suppliers, customers and the communities in which they operate, as well as the extent they attempt to protect the environment.” - The Institute of Directors, UK, 2002
De Beers has decided to make a shift away from a monopoly into competitive yet socially responsible strategic management. The mission of DeBeers is shared throughout its global enterprise. Its mission statement is, “We are driven to turn ‘diamond dreams’ into lasting realities.”
The De Beers policies and principles embody the standards of the ISO 14001, OHSAS 18001, and the Best Practice Principles. More than just a promotional ploy, the Principles by which De Beers Group of Companies abides embodies De Beers commitment to abide by its corporate responsibility to all its stakeholders – its customers, employees, shareholders, the community, and the environment. These are shown in the following diagram. ...Download file to see next pagesRead More
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