Formal (rules and regulations) and informal institutions demand for better environmental and corporate social responsbility from firms. As a result, sustainability has become a key focus for multi national enterprises as it enabled companies to achieve better organizational performance. One of the Human Resources Management(HRM) function consists of assisting in creating and implementing sustainability strategy in various ways. Human Resources(HR) ensures that the employees of a global firm implement the strategy consistently across the globe. A sustaniable human resource management uses various methods and tools to create a global worksforce that trusts the organization and its strategies towards the global sustainability.
In order to be success in the businesses, it must meet the expectations from the society. How do management ethics relate to Corporate Social Responsibility (CSR)? The management¡¯s core ethical values and standards should underpin everything that it does and the way its employees conduct their everyday business. Management ethics is about "doing things ethically". How an organisation approaches the social and environmental impacts of its business operations and its voluntary contribution to the wellbeing of the global and local communities in which it operates, is often known as Corporate Social Responsibility (CSR); it is often about "doing ethical things".
Building sustainable supply chains not only benefits the stakeholders but also aims at safeguarding business interests. Businesses can easily become sustainable by understanding who they are and working closely with people. Nestle is company that has been at the forefront in advocating for sustainable supply through the ‘creating shared value’ platform. The report makes recommendation on the role of supply chain management in attaining sustainability. Nestle Sustainability Efforts Nestle recognizes its position as a global leader in food and beverage company and the unique role it
Protecting the environment has become an important issue in today’s society. There is no longer any doubt that businesses should consider their social responsibility and the impact of their activities on their stakeholders. In addition, firms are beginning to realize that corporate sustainability can prove to be a win win. There are multiple benefits of sustainability linked to costs, revenues, community relations, and more. The decision to strive for sustainability is obvious, but this process is easier said than done.
Sustainable Production Utilizing sustainability policies within a Corporate Social Responsibility framework allows companies to be socially responsible and respond to the concerns of third parties whilst still maintaining economic control and maximizing their profits (Dauvergne & Lister, 2013). The majority of the sustainability practices big brands are integrating focus on enhancing the eco-efficiency of production, in order to improve their bottom line (Dauvergne & Lister, 2013). The primary focus of sustainable production practices is to find ways to continue to make products, but with less resources, energy and waste. Looking for solutions to improve production efficiencies allows businesses to coast through financial downturns that cause
PwC philosophy is that sustainability is more than just environmental issues. Through sustainability efforts, companies will realize elements like cost containment, ability to proactively address business concerns regarding sustainability to mitigate risk. They believe that sustainable business solution affects the entire scope of strategies for a business. Business strategy, reporting and supply chain assessment are just some of the services PwC offer in their audit and assurance division of the business. Under the business strategy of services, PwC will assist clients in identifying risks and opportunities with strategic sustainability goals in mind.
"Corporate social responsibility is the commitment of businesses to contribute to sustainable economic development by working with employees, their families, the local community and society at large to improve their lives in ways that are good for business and for development." Petkoski D & Twose N 2003, p.1). Leadership plays a critical role in sustainable development through his vision, mission and by providing a strategic direction to the organization (Srivastava k, n.d). Ghandour is an example of a good leader. He played an important role in maintaining the relationship between CSR and Aramex's business.
This product innovation costs the business a considerable amount of money to acquire. It will only make the investment if the business believes that customers will value the product and make a buying decision based on its changed features. Sustainable marketing at the production level is intended to bring these new eco-friendly characteristics to the consumer's attention. At the public relations stage, the company can communicate to its shareholders and consumers that it is an accountable corporate citizen that it cares about sustainable product innovation for the betterment of future generations.
Both of these areas are the lifeblood of the company, and any benefit to them should not be overlooked. Before a company can become proficient at corporate social responsibility, they must first know its definition. Corporate social responsibility is defined as actions that can be taken by a company to ensure they are adhering to ethical and social responsibilities of the day. These corporate social actions are self-regulatory, as a company strives to adhere to guidelines while also going above and beyond being a Good Samaritan in the business world (ECA, 2015). This can place certain businesses at the forefront in customers mind because of the example they are setting in the marketplace.
“Corporate Social Responsibility is a hard-edged business decision. Not because it is a nice thing to do or because people are forcing us to do it because it is good for our business” – Niall Fitzerald, Former CEO, Unilever This quote came from the sustainability page of Unilever website. This company’s website also has statistics about what the firm is doing to plan for sustainable growth in the future and how they are changing to become more environmentally friendly. Additionally, Unilever has published statistics detailing various safety, environmental, and social performance indicators relative to their industry. Clearly, this is a firm that deeply cares about its environmental and social sustainability efforts and performance.