Csr in the Hospitality Industry - 1293 Words

Contemporary Issues in Hospitality Tourism Administration Arlene M. Garrick Oklahoma State University, Stillwater September 29, 2009 Corporate Social Responsibility in the Hospitality Industry Introduction Corporate Social Responsibility (CSR) has progressively become known as a germane issue in the corporate world for the past decade. Making the world a better place, socially and environmentally, is a global accepted phenomenon. According to Porter Kramer, 2006, â€Å"corporate social responsibility has emerged as an inescapable priority for business leaders in every country.† The objective of this review is to discuss benefits of CSR on the hotel industry. What is CSR? Corporate†¦show more content†¦In 1995, a study conducted by Vanderbilt University found that eight of ten cases of low-polluting companies financially outperformed their dirtier competitors (Brands that do good, 2003; Act responsibly, 2004; Clark, 2006). As such, consumers prefer to do business with companies that have good CSR reputations Recommendation for CSR in Hotels In making decisions, management, should consider environmental outcomes, which limit and/or reduce the impact of operations on the natural environment. Hotel’s management need to implement responsible measures because of high cost associated with electricity consumption for heating/cooling, lighting, cooking, etc., which levies pressure on local resource and increase costs. Thus, the impact on the total cost consumption of a hotel from energy conservation measures is strong and more direct (Kasim, 2006). Consumers are progressively more concerned with how companies make their money and are expecting businesses to engage in responsible activities that will limit, as well as lessen their social, ethical, and environmental impacts on society and the community. White, (2006) cautions that, â€Å"that travel-savvy consumers are more environmentally aware and that having environmental and social programmes in place are a consideration in selecting accommodation.† Furthermore, any CSR program must involve the employees in order to achieve success. White (2006) alsoShow MoreRelatedTo What Extent Is Csr Beneficial to a Companys Performance1184 Words   |  5 PagesTo What Extent is CSR Beneficial to a Company’s Performance? Corporate social responsibility (CSR), which is a popular debate topic over decades, has divided into five major dimensions over time. They are known as the stakeholder dimension, the social dimension, the economic dimension, the voluntariness dimension and the environmental dimension in research (Dahlsrud, 2008). The relationship between CSR and company’s performance, which is classified as the stakeholder dimension, aroused a controversialRead MoreCorporate Social Responsibility ( Csr )1035 Words   |  5 PagesSocial Responsibility The term corporate social responsibility (CSR) is related to a bunch of behaviors that business and firms both undertake and to facilitate social and environmental targets and also to minimize the cost of potential society and environment that refers to business events. In addition, a sense of belongingness and motivation could be built by corporate social responsibility (Stawiski). As a hospitality enterprise with CSR, Holiday Inn has a couple of sustainable practices to addressRead MoreCorporate Social Responsibility And Its Legal Requirements1366 Words   |  6 Pages This report will explore the concepts of Corporate Social Responsibility (CSR) and its legal requirements. It will also select and identify relevant issues surrounding the implementation of CSR principles into business polices and finally provide justified recommendations as to what type of CSR principles should be introduced if needed. What is Corporate Social Responsibility (CSR) Corporate Social Responsibility (CSR) can be understood as a management concept and a process that integrates socialRead MoreCreating New Services in the Ecotourism Industry1453 Words   |  6 PagesNew Service Business Idea Creating New Services in the Eco Tourism Industry Executive Summary There are many possibilities for a new service oriented business. However, one trend that has been identified is an increased interest in sustainability and people who are becoming more aware of environmental and social issues. Consumers are increasingly considering factors involving sustainability into their purchasing decisions. Therefore, it seems reasonable to expect that the niche referred to asRead MoreBanyan Tree’S Success Has Been A Great Case For Entrepreneurs1563 Words   |  7 Pagesentrepreneurs in the hospitality industry to study. With the genius ideas that had been put successfully into practices by Banyan Tree CEO Ho Kwon Ping, the company had made a dramatically transformation that had become a phenomenon at that time. This essay will briefly investigate deeply into business strategy applied by the Banyan Tree that had affected the core focus of the company, as well as discussing if the same strategies used in the hyper-dynamic hospitality industry today, wo uld they beRead MoreSustainability For New And Existing Hospitality Assets1183 Words   |  5 Pagesâ€Å"The concept of sustainability has gained momentum in recent years within the global investment community – resulting in significant financial implications for new and existing hospitality assets.† As we outline in this journal, the roots of environmentalism and sustainability in the hospitality sector became evident over half a century ago, when a few enterprising hoteliers realized they could provide an enhanced guest experience by integrating natural elements into the resort experience. In theRead MoreSustainability in Houpitality Education4611 Words   |  19 PagesHospitality Research Project Part A: Research Proposal Sustainability in Hospitality Education * A Case Study - Supervisor: David Proctor Stenden Hogeschool International Hotel Management Leeuwarden The Netherlands 2011 Fei Fei Wang amp; Anjani de Graaf Stenden University of Applied Scienes, Leeuwarden 20-Jan-‘12 Declaration of personal work 1. This work is composed by us. 2. This work has not been accepted in any previousRead MoreA Report On The Pyramid Model868 Words   |  4 Pagesfocus on the CSR concept by the support of Accor Hotel Group. Presently Accor is the leading hotel Group and one of the largest hotel chains which manages about 4000 hotels worldwide. Accor Hotel Group is a a well established organisation in hospitality industry and it arrange capital and related resources to support Ibis do a series of activities about CSR (Accor Hotel Group, 2015). By the support by Accor Hotel Group, Ibis is well placed to make social development which was involved in CSR program acrossRead MoreTaking a Look at the Hyatt Hotel Group1769 Words   |  7 PagesEndogenous Factors CSR activities Corporate Social Responsibility (CSR) is about delivering sustainable value to society, as well as to owners and shareholders, for the long-term benefit of both. A number of hotel chains have long since recognized that having sound social policies makes good business sense and has its own inherent paybacks. Good CSR policies are evident within the large hotel chains, particular those with a strong brands and a good reputation to maintain. Furthermore, the valueRead MoreCorporate Social Responsibility - Hilton3197 Words   |  13 PagesResponsibility Corporate social responsibility  (CSR, also called  corporate conscience,  corporate citizenship,  social performance, or sustainable responsible business/ Responsible Business)  is a form of  corporate  self- regulation  integrated into a  business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international  norms. CSR is a process with the aim to embrace responsibility