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Introduction:
A growing number of evidence suggests that companies can do well by doing good. Many well-known companies have taken that path and their good practices have already proven that they can differentiate their brands, reputation and even their products and services if they own their impact and act more responsibly for the well-being of the societies and environments in which they operate. These are the likes of companies such as Google, IBM, Johnson and Johnson, Nestle, Unilever etc. who understand and own their responsibility and are working towards creating a better world with their sustainable business practices. These companies are practicing Corporate Social Responsibility (CSR) in a manner that generates significant returns
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However, to develop an effective CSR strategy, a company must first self-assess and know it where it stands in the process. There are five stages that company generally pass through when engaging in CSR (McElhaney, 2008);
Stage 1 – when CSR is a defensive move because someone has exposed the poor business practices and forced the company to improve
Stage 2 – Because of the pressure, company needs to do something, so they choose initiatives which involves minimum financial investment just to show that they are addressing the concerns.
Stage 3 – Ultimately, the company develops some sort of system like an ISO 14000 standards so as to assign responsibility and measure results. These programs are treated as cost to the company
Stage 4 – Companies here start viewing CSR as part of their value and opportunity creating strategies and treat it on par with other line functions
Stage 5 – This is the final stage of CSR maturity process where a company embeds CSR into its daily business operations, collaborate with other companies and work towards attacking a social issue at its
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Being in business for over 70 years, HP has grown to become one of the largest technology companies in the world. With this exponential growth its CSR initiatives have also grown wide. It treats CSR as part of its value and opportunity creating strategies, however, there are several different initiatives under many different banners like Sustainability, Global Citizenship, Corporate Social Responsibility, Social innovation etc. Too many initiatives run in many different direction, thereby reducing the overall impact of the program. A coherent CSR strategy for HP will provide a conducive platform for all its initiatives to exist as one portfolio and this would maximise the positive impact on the social and environmental system in which it operates.
Considering the many different initiatives that HP is currently engaged in, I will use The three theatre model (Rangan, Chase and Karim, 2015) to formulate a CSR strategy for it.
The three theatre model suggests that in order to develop a coherent CSR strategy the activities typically must be divided among three theatres of
It is a step of defining the goals of the projects and the results are aimed at reaching certain levels of productivity of customer satisfaction. The second stage is measure, and it is the stage of collecting data and facts and evaluating current operational performance. The third stage is analyze with the purpose of developing methods and theories that will best suit the solving of the problem; it is also a stage of detecting cause-and-effect ties of the processes. The fourth stage is improve, it is aimed at generating ideas for reaching the desired process improvement. Finally, there is the control stage that is about monitoring the operations to find out whether the process of improvement is smooth and the problems were solved (Meredith & Shafer,
Over the last decade, Corporate Social Responsibility (CSR) has emerged as an inescapable priority for companies all over the world. Governments, activists, and the media have to a greater extend become adept at holding companies account for the social consequences of their business activities. As a result, companies are increasingly being ranked on their CSR performance.
According to Mike Peng, Corporate Social Responsibility (CSR) is the consideration and response to issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with traditional economic gains the firm seeks. CSR is a way in which a company seeks to achieve a balance between profit, environmental concerns and social imperatives. This is known as the ‘Triple-Botto...
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
I begin this essay by defining CSR, there are many definitions for this term by various different theorists, and EU says that CSR is "A concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis." On the other hand, Sloman et al. define it as "The concept in which a firm takes into account is the interests and concerns of a community rather than just its shareholder". Davis and Blomstrom (1966), say it "Refers to a person’s obligation to consider the effects of his decisions and actions on the whole social system". These definitions differ from one another in many ways but they agree that CSR involves taking the environment into account and therefore, one must look take social responsibility.
The examination has given an incredible understanding into the changing part of CSR, and how firms ought to approach this moderately new idea. We realize that associations are turning out to be more open in their operations, and that customers are presently turning out to be more taught and investigating the organization itself when settling on obtaining choices. We realize that shareholders don 't have faith in CSR unless it gives more noteworthy business sector introduction, then again we have confirm that backings advantages which far exceed this presentation and give the organizations more prominent brand value and respectability. We have considered the lawful point of view and realize that whilst there are authoritative confinements on
Initial, companies dedicated to CSR plans and strategies should generate initiatives that are reliable with their own company identities and that are perceived as unselfish programmes that augment corporate trustworthiness. Both coherence and motivational attributions are the main forerunners of helpful perceptions with customers and of intensification the customer---company nexus.
CSR is a concept where company involves in social and environmental in their business operations. This is done to achieve a balance of economic, environmental and social obligations.in simple terms giving a hand for those who are not capable of achieving with their objectives and attending to them so that they could make those objectives a reality. This could improve organizations cooperate image which would also leads to attain a high market share.
The environmental aspect of CSR is defined as the duty to cover the environmental implications of the company’s operations, products and facilities; eliminate waste and emissions; maximize the efficiency and productivity of its resources; and minimize practices that might adversely affect the enjoyment of the country’s resources by future generations. In the emerging global economy, where the Internet, the news media and the information revolution shine light on business practices around the world, companies are more frequently judged on the basis of their environmental stewardship. Partners in business and consumers want to know what is inside a company. This transparency
Corporate Social Responsibility (CSR) is a very familiar term in today’s world. Most of the successful companies try to be ethical and socially responsible toward their stakeholders. Because becoming ethical and socially responsible gains a lot in terms of profit or capturing more market share (Aras and Crowther,2009). This socially responsible approach is paved by the CSR activities of the companies which has a great contribution to their corporate strategy of winning the customers’ mind. In this assignment, the pros and corn of CSR activities of a particular organization a...
CSR is the obligation of business to promote and to protect the interest of shareholders.
The idea of companies existing in order to make money for their investors is widely accepted as the core business concept. In recent years, the involvement of corporate social responsibility (CSR) in the business model can be clearly observed. CSR can be described as the undertaking of initiatives which benefit other members of society. However, there is a great ambivalence and uncertainty about what CSR really means as well as what drives corporate units to pursue it. This part will describe the notion of CSR and present the debate between narrow and broad view of corporate social responsibility, the link between CSR and the Triple Bottom Line (TBL) and examine the shift in paradigms from altruistic standpoint to the strategic standpoint on CSR
Each definitions of CSR does vary around the core characteristics based on their conceptual concentrations and particular focus, for example, under the Voluntary Characteristic, CSR see the overall voluntary activities beyond the law. The Externalities, study both, the positive ...
The classical view of CSR is a prominent ideology which business organizations are seen merely as profit-driven organizations. Simply put, businesses work for the sole purpose of making a profit. Thus, this profit motive is the sufficient and unique social identifier that separates a business organization from other institutions in society. These business organizations have a limited, yet essential role in society. Social concerns are considered important, but businesses, in the classical view, are focused solely on the economic activities and are judged accordingly. By having a limited role in society (i.e.,...