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Running Head: SOCIAL RESPONSIBILITES 1

Corporate Social Responsibilities

Khadeen Jackson

International College of the Cayman Islands

Lecturer: Melisa Hamilton


SOCIAL RESPONSIBILITIES 2

Introduction

On November 13 to 19, 2017 I was part of the International College of Cayman Islands

(ICCI) local business seminar on Business and Society. This seminar was comprised of chapter

summary, presentation and tours between the three islands, Grand Cayman, Cayman Brac and

Little Cayman. As a part of the seminar, I was required to do short lecture session of my assign

chapter from the required textbook Business and Society, Stakeholder, Ethics, Public Policy 15th

Edition. I was assigned chapter nine and ten which covers Political Environment, Sustainable

Development, and Global Business respectively.

I was also assigned final presentation topic which involved choosing a company or

organization within the Cayman Islands that depict the topic that was attached to me, how the

topic is effectively demonstrated or modeled by the said company. I will also incorporate how

the different tours and presentation are essential to my assign topic. The topic that I was

assigned is Corporate Social Responsibility (CSR). I have selected the company Sagicor life of

Cayman Islands to incorporate in my paper. Thought out this paper I will give a summary of

Sagicor life of Cayman Island, its organizational structure, its vision, mission and its view on

corporate

Business and Society Topic Exploration

Social responsibility. In the early writing Corporate Social Responsibility was refer to as

Social Responsibilities, this was perhaps this was because the age of modern corporation's

prominences and dominance in the business sector has not yet occurred or been noted (Carroll,

1999, p. 269). According to Carroll (1991), for the better part of 30 years now corporate have

struggled with the issues of firms responsibility to its society (p.39). According to Lawaerace
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and Weber (2014), Corporate Social responsibility is a corporate initiative to assess and take

responsibility for the companys effects on environmental, social wellbeing (p.49). CSR

generally applies to the effort that goes beyond what may be required by regulators or ecological

protection groups. CSR can also be view as a corporate citizenship and can involve incurring a

short-term cost that does not provide an immediate benefit to the company, but instead promote

positive social, environmental change. It is stated that for Corporate Social Responsibilities to be

accepted by a conscientious business person, it should be framed in such a way that the entire

range of business responsibilities are embraced (p.40).

Social Responsibilities is essential for the business of the Cayman Islands as this is a way to

give back to the community they operate in but also build a good relationship with the

communities. Corporate Social Responsibilities is vital in the Cayman Islands, as a small Island

this can improve the public image of the business. This can also help solve social problems. The

organization has the responsibility to the society to protect the environment and take care of the

amenities. This will take into consideration the potential danger of the pollutions, noise, and

disposal of water and avoidance of excessive packaging and use biodegradable materials.

Company Features

Sagicor life of Cayman Islands is a subsidiary of Sagicor Group Jamaica. The company is

registered with the Cayman Islands Monetary Authority (CIMA) as a class A Domestic Insurer

and carrier full and attractive range of life, pension, groups' life and annuity products (Sagicor

life, n.d). Sagicor Life of the Cayman Islands strives by their vision to be a great company

committed to improving the life in the communities in which they operate. Sagicor also allows

their values to decide who they are which. These values are communication, respect, Integrity,

Performance, and teamwork. As it relates to communication Sagicor life of Cayman Islands they
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will find all ways, listen and seek to understand the needs of others, encourage and accept

feedback, facilitate open decision ad always share information. Sagicor life of Cayman Islands

also establish respect by maintaining the view of others, challenge ideas not people and respect

other person time. Sagicor life of Cayman Islands maintain their integrity by always doing what

is ethical, deliver on their word, hold themselves accountable and still lead by example (Sagicor

life, n.d.). To maintain their performance, they meet deadlines, embrace creativity, be passionate

about exceeding expectation and always recognize good work. Sagicor life of Cayman Islands is

also big on teamwork, by still inviting collaboration, support others to achieve their goals and

value diverse views.

The organization structure consists of Management team which are Norman L. Wilson Branch

Manager, Mark Chisholm President &CEO, Rohan Miller Executive vice president-Investment,

and Camille Witter, Assistant Vice president-Actuarial. There is also Audrey Flowers-Clarke,

Vice President-Insurance operations, Ingrid Card, Vice President-Group Marketing, Jacqueline

Somers-King, Vice President-Finance, and Merrick Plummer, Assistant Vice president-

Individual life Sales & Distribution (Sagicor life n.d.). Sagicor Life of the Cayman Islands

mission statement is committed to the development of their staff, agent and the broader

community that they serve, providing high quality financial and outstanding service while

earning superior returns for their shareholder.

The size of the board is a product balance between two opposing needs which are a business

need for strong geographical, professional and industry sector representation and need to be

small enough to facilitate open effort and effective dialogue and decision making (Sagicor life of

the Cayman Islands, n.d.). To achieve this need the company has a set of articles that the number
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of Directors shall not be less than 5 and no more than 14. Currently, five directors have been

appointed to the Board.

Sagicor life of Cayman aim is to deliver exceptional customer service in every interaction

with them. To achieve this, they promise transparency, privacy, innovation and reliability,

fairness, and accountability. Sagicor also promises transparency by providing timely and

accurate information that will help make an informed decision in selecting product and service

that will meet customer needs and financial circumstances. Sagicor is also big on privacy, so they

are committed to treating all personal information as private and confidential.

Sagicor life of Cayman Islands committed to being socially responsible corporate entity who

consistently seek to build and better the lives of people in the Cayman Islands. Sagicor life of

Cayman Island has donated to the funds to the Cayman Heart Fund in 2016 to purchase an

ambulance and also give Funds to the Cayman Cancer society to support their Cancer Education

Program.

The Cayman Heart Fund is dedicated to supporting access to high-quality care for all

Caymanians through various programs and initiatives, which directly ties into Sagicor Vision of

improving the lives of the communities in which they operate (Sagicor life.n.d). The funds

received by the Cancer society will be used towards the free community cancer education

programs. The fund was used to purchase display items to help educate the person on cancer and

how to do self-checks to help with early detection. Sagicor as the partner with the Cayman island

cancer society as they believe in supporting activities that help to improve the life of the

communities they operate in and are happy to play their role in helping to enhance the cancer

education program which will lead towards more early detections and saving more lives.
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The Seminar Experience

Corporate social responsibilities were highlighted in the field trip we did. On my visit to the

sister Island Cayman Brac and visit the District Administration and meet Mr. Ernie Scott. E.

Scott (Personal Communicator, November 17, 2017), speak about how government shows

corporate social responsibilities by offer Internship program for high school graduates and

college graduate. By doing this government help in building the community and also helping

with brain drain.

Dart enterprise is committed to corporate social responsibilities as they work with much other

organization and individual on community projects that share a common goal, to enhance the

quality of life for all those who live in the Cayman Islands. Dart is the organized o Mind inspired

which embodies the Dart family believe in the importance of pursuing educational excellence.

Mind Inspired currently funds the Minds Inspired High school scholarship and the William A.

dart memorial Scholarship (Dart Enterprise, n.d.). Since 2012, every year since the high school

scholarship awards two, four-year scholarship on their academic excellence with a clear focus on

mathematics and science (Dart Enterprise, n.d). The William A Dart Memorial Scholarship was

established in 2013 in memory of the Ken Dart's late father who was the founder of Dart

Corporation. It is awarded annually to a student pursuing a Territory education an accredited

overseas institution and renews annually for up to four years. Both this scholarship include

bespoke mentoring and enrichment opportunity, designed to encourage further, support and

inspire students to achieve their full potential (Dart Enterprise, n.d).

Dart also believe in the importance of community park and open gathering space for people to

connect with nature and celebrate the family event is the inspiration for growing communities.

Growing communities is a public-private partnership in Cayman Islands government that created


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parks in each district. This park are owned and manage by the government, and dart recently

renewed its commitment to maintain the parks, landscaping so that they can use and enjoyed for

years to come.

Dart enterprise also believe that sustainability is intrinsic to our development approach, business

and technological innovations. In championing the move towards alternative energy source, dart

has installed solar panels on Dart properties across the island and are one of the largest producers

of solar energy in the Cayman Islands (Dart Enterprise, n.d.). Dart was also an early advocate for

recycling Cayman, they collect and reuse glass by crushing it to produce the aggregate used to

pave our sidewalks(Dart Enterprise, n.d.).

One of the fascinating things to be about dart enterprise has a Dart Corporate Green team,

which is a group of employees who are interested in sustainability. This is where member comes

together to implement greening initiatives in the office, and frequently these practices spill over

to business around Camana Bay. The green team meets monthly and discussion focus on

recycling composting food and garden waste, encouraging best practices for the event, energy,

and water saving initiatives, etc. a bonus for the green team is that social responsibility learned at

work often has a positive impact on employee and ultimately on the community.

Our visit to the Chamber of commerce which we had a meeting with CEO Will Pineau was

quite informative as he educated us on how committed the chamber of commerce was to the

community. As a part of their Corporate Social responsibility through the Chamber of

Commerce's leadership Cayman program one of the several offered by the organization. This is

where ever January since 2010, it has offered 24 volunteers six months of exposure to social

economic, business and political issues and community involvement opportunities( Personal

Communicator, W. Pineau, November 14, 2017).


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Chamber of Commerce also encourage social responsibilities initiatives in education and

environment protection. Each year they offer Mentoring Cayman matching 50 high school

students' with mentors from business and government; annual earth day and Christmas roadside

cleanup. Chamber of commerce also encourage members and the broader community to sign up

to take the environment pledge "reduce their carbon footprint and reduce, reuse and recycle.

As Stated by E. Costello (Personal Communicator, November 15, 2017), speak about how

Cayman is their home, so they deeply invested in the community. Tower Marketing not only

have their only wellness programs, but they also sponsored many local sporting events including

the Pilates for pink, the tower Titans Softball team, Academy Football club, Cayman Islands

Marathon and the Cayman Invitational (E. Costello, Personal Communicator, November 15,

2017). Tower Marketing is also a firm believer in the importance of community leaders. This is

carried out through their sponsorship and involvement with an organization such as leadership

Cayman, Junior Achievement, Rotary and the Cayman Islands Chamber of Commerce as they

hope to inspire change, led by example and make a difference in lives of other (Tower, n.d).

This seminar has to help me to understand more than main business aim is not just to make a

profit also to help build educate and build the communities they are a part of.

Application of the Learning

As it relates to my topic corporate social responsibilities, it was amazing to see how much these

companies give back to the community they are a part of, a measure they to help create a vibrant

community. This seminar has not just enhanced my knowledge but has encouraged me to do

more, volunteer my time to the development of my community. With this experience I believe

that every company should be Corporate Social Responsibilities, even if you its a small

business. Every organization or company should put measures in place that encourage and
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support employees to be social responsibility. On the visit to the sister island, especially Little

Cayman also show me how people live together as one big family. Due to the small population,

the resources are limited, so person work together to make their island productive. At the resort

we stay also show a vast diversity of task, one person is responsible for doing more than one job.

For example, the Resort Manager also services as a tour guide. We were privilege to see Little

Cayman annual pirate Day Parade, it was amazing parade although the population is small. This

shows that when we come together as one we can achieve great things.

Summary and Conclusion

I believe it is fair to say that Social responsibility is not a business organization's sole

responsibility. A member of civil society organization has a legal obligation as well as economic

responsibilities to their owner and other stakeholders affected by the financial well-being of the

firm. As highlighted in this paper it is clear that most organization/business in the Cayman

Islands believes that companies should make a profit but also balance this with their social

responsibilities. This can be seen as many companies seek to preserve the environment, protect

consumers, safeguard the health of their employees and also prevent job discrimination. It is also

fair to say that government officials too support Corporate Social Responsibilities as they ensure

corporate compliance laws and regulations that protect the public from abusive business

practices.

It is also clear that corporate social responsibilities also promotes long-term profit for the

business or organization. For example, the companies that invest in mentorship programs or

scholarship, this individual might come to work for them in the future. This also helps to enhance

the business reputation. According to Lawrence and Weber (2014), Reputation refers to the

desirable or understanding qualities associated with the organization or its actors that may
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influence the organization relationship with stakeholders. Corporate Social Responsibilities is not

just about charity, it focus on contributing to the society through other means, protecting the

environment, developing the culture of accountability and improve the human capital.
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Reference

Carroll., B. A. (1999). Corporate Social Responsibility. Evolution of Definition constructs.

Society.ttp:www.laura.fi./dokumentit/documents/eveolution_of_Definitional_construct.

Carroll, B., (1991). The Pyramid of corporate social responsibility: Toward the moral

management of organizational stakeholder. Journal Business Horizons, p39-48.

http://www.Plu.mx/pluma/a?doi=10.10162%2

Chamber of Commerce. (n.d). Retrieved December 04, 2017, Retrieved from

http://www.caymanchamber.ky

Dart Enterprise. (n.d). Retrieved December 03, 2017, from hhtp://www.dart.ky.

Sagicor life of Cayman Islands (n.d). Retrieved December 03, 2017, retrieved

http://www.sagicorcayman.com

Tower Marketing-Cayman Islands. (n.d.). Retrieved December 03, 2017, from

http://tower.com.ky/culture-career/community.

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