CSR Policy

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Contents Executive summary 2 Introduction 2 RIOCH views in adopting and maintaining CSR policy 2 CSR through business activities 3 Competitive advantage through CSR 3 Increasing RIOCH value by adopting CSR policies 4 A unified CSR policy globally 5 Challenges facing the company in adopting unified CSR policies 5 Legal and cultural challenges 5 Ethical challenges 6 References 7 Appendix 9 Executive summary Understanding the important of a unified CSR policy and its benefits to the company make us insist in having such a policy. However looking at the challenges we will face in some countries we already operates in make us understand that while the goal is ambitious but unrealistic Introduction The purpose of this paper is defined the way RIOCH gain competitive advantages by applying CSR policies in global business environment. Increase the company value by practicing high standard CSR activities. Finding out the difficulties might face the company in adopting a unified CSR policy around 200 countries. RIOCH views in adopting and maintaining CSR policy We are a trusted company and we have operation in 200 countries. The board think that the company benefit from such trust and in order to increase trust we need to invest more in adopting high standard CSR policy. The reason behind adopting CSR years ago: Kurucz (2008) proposes four reasons to adopt CSR policies: 1- Cost and risk reduction 2- Gaining competitive advantage 3- Developing reputation and legitimacy 4- Seeking win-win outcomes through synergistic value creation The focus remains for our company is to gain a competitive advantage and to increase the company value. CSR through business activities The company will focus in hu... ... middle of paper ... ...: doi: 10.1111/j.1468-2370.2009.00275.x. The corporation in a democratic society: in whose interest ought it and will it be run. 1969. Business strategy, (225-39). Tokarski, K. 1999. Give and thou shall receive. Public Relations Quarterly, 44 pp. 34-40. Vogel, D. 2005. The market for virtue. Washington, D.C.: Brookings Institution Press. Walter, F. and Bruch, H. 2005. The keys to rethinking corporate philanthropy. MIT Sloan Management Review, 47 (1), pp. 49--55. Zadek, S. 2000. Doing good and doing well. New York: Conference Board. Appendix T. Smith (2005) maintains that CSR activities such as equal employment opportunity (EEO) policies and practices and environmentally responsibility standards enhance long term shareholder value by reducing costs and risks. He claims that EEO illustrates an inclusive policy which reduce employee turnover through improving morale.
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