CORPORATE SOCIAL RESPONSIBILITY

Corporate Social Responsibility

Abstract

In this study we try to explore the concept of “Corporate Social Responsibility” in a holistic context. The main focus of the research is on “Corporate Social Responsibility” and how it appears in the policies, practices and operations of “Smith and Wesson Holding Corporation”. The research also analyzes many aspects of “Corporate Social Responsibility” and tries to gauge its effect on “Smith and Wesson Holding Corporation”. Finally the research describes various factors which shape the “Corporate Social Responsibility” policies for Smith and Wesson Holding Corporation and its overall impact on the business. Corporate Social Responsibility (CSR) has been defined as the management based on responses to "issues beyond the narrow economic, technical, and legal requirements of the firm, in line with wider social and environmental values Corporations have come to realize that they cannot operate in isolation to the community, that good governance and social involvement go beyond the work performed in their own offices. Smith & Wesson Holding Corporation (NASDAQ: SWHC) is a U.S.-based, global provider of products and services for safety, security, protection and sport The company maintains that consent in the use of arms should only be given to governments for national defense purposes and internal security The company needs to ensure that the manufacturing process becomes less damaging to the environment and carbon dioxide emission is kept at a minimum CSR is the visible part of the business contribution to sustainable development that involves three essential aspects in today's society: economic, social and environmental.

Table of Contents

Introduction1

CSR1

The USA scenario1

Discussion3

Dimensions of Corporate Responsibility3

Internal dimension3

External dimension3

S&W Corporate Social Resposibility……………………………………………………………...4

Company profile5

Environmental effects5

Adaptation measures6

Vision, direction, goals and planning6

Implementation7

Monitoring and measurement7

A periodic assessment to validate the actions8

Recommendations8

Conclusion8

References10

Corporate Social Responsibility

Introduction

CSR

Corporate Social Responsibility (CSR) has been defined as the management based on responses to "issues beyond the narrow economic, technical, and legal requirements of the firm, in line with wider social and environmental values (Font, 2004). While a number of articles have been written over the past few years on CSR within the context of company-community relations, there seems to be a gap in business anthropological research focusing specifically on organizational cultures generated by CSR values, structures, and practices. An organization committed to CSR values develops over time certain structures and positions dedicated specifically to CSR matters (e.g., CSR Divisions or Departments; CSR Managers; Community Relationship Managers and Community Liaison Officers). These structures and positions in turn generate practices that consolidate CSR values (Doh, 2006). Examples of CSR practices include social or environmental impact assessments, socially based policies such as "work/family balance," environmental protection policies, and community-based initiatives such as health and education programs.

The USA scenario

In USA, the remarkable point in history of the modern corporate social responsibility and responsibility is probably the moment the Cadbury Committee was set up in 1992, following cases of corporate failures such as that of Bank of Credit and Commerce International (BCCI) and Maxwell. The world also saw the USA experiencing its economic downturn between 1990 and 1992 (Pedersen, ...