The Importance Of Corporate Social Responsibility

790 Words2 Pages
bulb-icon

Recommended: Why is corporate social responsibility important to the socio-economic world

INTRODUCTION
1. RATIONALE
“Strong economic performance and good social and environmental performance are not mutually exclusive. In fact, I believe that good corporate citizenship improves our bottom line... Firms with social citizenship records and a real commitment to corporate responsibility are arguably more sustainable, better managed and, therefore, better long-term investments.”
Ed Zander,
Chairman and CEO of Motorola, 2004
In our increasingly interconnected world, where the forces of globalization and technological innovation are bringing massive change, the inseparable and interdependent linkages between business, society and environment have been gradually grown stronger, tighter and even more vital to both corporate success and social prosperity. Acting to create real and lasting contributions to society and environment therefore becomes a way for companies to advance social progress while also making profit, and ultimately becomes a way for many businesses to effectively sustain themselves over the long-term. It is believed that Corporate Social Responsibility (CSR), therefore, has become an essential part of any successful company’s business strategy. Indeed, CSR has gradually become a leading issue in business recently (Cramer 2004).
Although CSR was conceptualized in the 1950s, it is a relatively new field of research in the apparel discipline (Dickson & Eckman, 2006). The apparel industry is one of the first and largest industries globally. Rising consumption levels and low-cost apparel and footwear along with a shift to offshore production have thrust the apparel and footwear industries into the spotlight as a major contributor to global environmental issues and social im...

... middle of paper ...

...volving CSR through incorporating CSR strategy in its operation.

4. RESEARCH METHODOLOGY
A qualitative research design is employed based on observation and secondary data as the main techniques to obtain necessary data for the research. This study assesses the CSR performance of NIKE primarily by looking at available information published by the company, including annual reports, and sustainability/CSR reports, the trustworthy sources of media and publication of previous CSR-related researches.

5. RESEARCH STRUCTURE
Apart from Introduction and Conclusion, the research consists of three main chapters as follow:
Chapter 1: Theoretical background of Corporate Social Responsibility
Chapter 2: Corporate Social Responsibility performance of Nike Inc.
Chapter 3: Recommendations for Vietnam apparel and footwear enterprises in implementing Corporate Social Responsibility

Show More
Related

  • Tentree Case Study

    1000 Words  | 2 Pages

    21). Corporate social responsibility (CSR) directly corresponds to one’s organizational culture and the voluntary implementation of these beliefs, expectations and values. It goes hand in hand with their organizational reputability, especially if society benefits from them operating in an economic, social and environmentally sustainable manner (Global Affairs Canada, 2016). Two companies that demonstrate this initiative mindset are Tentree and Nike, yet they execute in completely different manners. On the organizational spectrum Tentree falls under the Social Venture category, meaning they are for-profit but also on focus on issues regarding social equity and environmental sustainability. Their social responsibility initiative is to plant ten trees for every item purchased by individuals on their website, or from retail vendors (Tentree, n.d., para. 1). Nike is categorized under being a Social Purpose Business because it achieves its desired social impact as well as continuous profit (Jones, George, & Haddad, 2016, p. 4). Nike’s social responsibility initiative is to transform production development and manufacturing to overall minimize the company 's environmental footprint (Nike,

    Read More

  • Adam Lindgreen And Valerie Swaen's Article: Corporate Social Responsibility

    881 Words  | 2 Pages

    ​Corporate Social Responsibility (CSR) is a movement that aims to promote a greater awareness of how business activities and decisions influence corporate environment, stakeholders, and society in general. Adam Lindgreen and Valerie Swaen’s article “Corporate Social Responsibility” addresses this broad topic in a more narrow direction of CSR implementation as it discusses the most important stages of this process. While this article relies only on the previous research, it provides unique insights into CSR and even challenges the common views of this concept as the authors thoroughly analyze their secondary sources.

    Read More

  • Whole Foods Market Corporate Social Respinsiblity(CSR)

    1726 Words  | 4 Pages

    CSR currently has no universal definition, but it is commonly agreed that the strategy engages the business brand with a specific societal issue that relates to the company’s field of work. For example a car company might apply their brand with uses of green energy with the automobile. Businesses have noticed the benefits CSR can generate for their company. However, this strategy is most effective when the company commits their entire brand around the particular cause. The Whole Foods Market (WFM) is the perfect example of how the use of the CSR works for a company. To understand how stores like the WFM influence society’s move towards sustainability and healthy living, it is important to look at the stores CSR strategy portrayed through their advertising, such as their website. In my paper I hope to further the conversation about the use of the corporate responsibility strategy for businesses to ...

    Read More

  • New Balance Csr Analysis Essay

    1830 Words  | 4 Pages

    Case Study- CSR Analysis of New Balance New Balance is a privately held company that manufactures athletic shoes and apparel. New Balance has a strong social culture of responsibility and a commitment to creating the best environment for their employees. This is reflected in their mission by “demonstrating responsible leadership, we build global brands that athletes are proud to wear, associates are proud to create, and communities are proud to host” (Veleva, 2010, page 1). New Balance began as a simple shoe support insert, built to help alleviate pain for people who spent all day on their feet, and in later years developed into the athletic shoe that it is today. Sports shoes remained the focus for many years.

    Read More

  • Nike and Social Corporate Responsibility

    1070 Words  | 3 Pages

    Nike failed to address corporate social responsibility early on because in the 1990’s corporate responsibility was not that important to corporations yet. Nike failed to communicate with top management. The move to manufacture their products to Vietnam, China and Indonesia provided cheap labor. The manufacturing plants in ...

    Read More

  • The Top Three Competitiors of the American Repertory Theater

    807 Words  | 2 Pages

    Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...

    Read More

  • T.J. Maxx CSR

    1886 Words  | 4 Pages

    Two decades later, that one store grown into a whole chain of women's apparel stores that overextended from New England to Washington D.C. In the mid 70’s T.J. Maxx was born and grew into what is known today as the TJX Companies, Inc., which is the leading off-price retailer of apparel and home fashions in the United States and worldwide. Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications.

    Read More

  • Corporate Social Responsibility

    1700 Words  | 4 Pages

    In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.

    Read More

  • Corporate Social Responsibility Analysis: Wells Fargo

    958 Words  | 2 Pages

    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.

    Read More

  • Article Review: The Importance Of Corporate Social Responsibility

    1093 Words  | 3 Pages

    In the article, The Truth About CSR by Kasturi Rangan, Lisa Chase, and Sohel Karim, the importance that coherence plays in corporate social responsibility (CSR), is emphasized. Throughout the article, corporate social responsibility application, within corporations, is broken down into three theaters. According to the article, many corporations do not focus on their CSR programs, and usually see these CSR actions as a secondary responsibility following the responsibility they hold towards their shareholders. It is argued in the article that in CSR is a key and essential block for corporate success, focusing on CSR coherence throughout all three theaters will bring positive results along the way, possibly making the corporation

    Read More

  • Corporate Social Responsibility

    1916 Words  | 4 Pages

    Business organizations regularly run into demands from various stakeholders groups when conducting day-to-day business. These demands are generated from employees, customers, suppliers, community groups, governments, and shareholders. Thus, according to Goodpaster, any person or group of people that can shape or can be shaped by attainment of the objectives by an organization is considered a stakeholder. Most business organizations recognize and understand their responsibilities to these groups and endeavor to honor and fulfill them. These responsibilities are often communicated to the public by a statement of principles or beliefs. For many business organizations, corporate social responsibility (CSR) has become an essential and integral part of their business. Thus, this paper discusses the two CSR views: the classical view and the stakeholder view. Furthermore, I believe that the stakeholder view has brought ethical concerns to the forefront of businesses, and an argument shall be made that businesses would improve both socially and economically if CSR, guided by God’s love, was integrated into their strategic planning.

    Read More

  • Views on Corporate Social Responsibility

    1003 Words  | 3 Pages

    While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.

    Read More

  • Importance Of Corporate Social Responsibility

    1000 Words  | 2 Pages

    In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its

    Read More

  • The Importance Of Corporate Citizenship

    768 Words  | 2 Pages

    In this section of the report, I will be discussing the meaning of corporate citizenship. I will be explaining how companies can be considered good corporate citizens and taking into thought Corporate Accountability, Corporate Governance and the 3 Pillars of Sustainability, and why companies would need to change the audit model.

    Read More

  • Essay On Business Ethics And Social Responsibility

    853 Words  | 2 Pages

    Now-a-days it is considered that CSR is one of the major concerns of organization’s business ethics. Companies increasingly increase their corporate social responsibility (CSR) and ethical management accepting the positive impact on the bottom line. The vast bulk of Standard & Poor’s 500 companies publish sustainability reports unfolding their program challenges and achievements. These pre-emptive efforts can pr...

    Read More

More about The Importance Of Corporate Social Responsibility

Open Document