Ramon Folch, the Director of Corporate Social Responsibility (CSR) at the ISS Foundation, gave a talk to fourth-year Business Administration students on Wednesday, 22 October 2014. The session formed part of the Business Ethics module, which is taught by the Department of Management by Missions and Corporate Governance.
Folch began by looking back at how the concept of CSR became part of the corporate environment. “It dates back to 1865, when the company BASF built apartments for its employees, but it wasn’t until the 1970s that the terminology we are familiar with began to be used”, he explained.
“CSR was born out of the objective to serve society and make companies more than just capitalist operations whose only goal is to obtain more and more profit”, Folch went on. “Companies must do good business by using their business to do good, as this will add value to their activities”, he continued.
Moving on from CSR, Folch spoke about ISS, the company he works for, and its foundation, which was set up to create jobs in developing countries.
The ISS Foundation gets its income from voluntary donations made by the company’s employees. The company covers all the administrative costs, thereby ensuring that all the money donated by the employees goes towards the foundation’s projects. In the seven years since its creation, the foundation has received in excess of €400,000, which it has used to fund six projects in six different countries.
The students came away from the talk having learnt that CSR is beneficial for companies, as it not only gives businesses a positive image, but also provides a service to society.
