Corporate Social Responsibility Essay For Sompo Japan Nipponkoa Holdings.

Evaluating a CSR Report by Sompo Japan Nipponkoa Holdings

Discuss about the Corporate Social Responsibility for Sompo Japan Nipponkoa Holdings.

CSR stands for Corporate Social Responsibility and a CSR can be defined as a term or a practice of a business, which provides different-different benefits to the society. A business’s CSR consists of a large number of tactics, which is responsible of giving a part from the company’s profit for the charity purposes or for any other processes required for the implementation of greener business tasks. The corporate social responsibilities consist of various types of practices or in other words, we can say that various types of responsibilities are being carried out by the different types of businesses as to fulfil their social responsibilities. Environmental efforts, philanthropy, ethical labor practices, volunteering, etc., are some of the parts of business social responsibility practices. In the environmental effort phase the main focus of the corporate social responsibility is on the improvement of the environment or its surrounding. A large part of carbon is produced by the different- different activities of the corporate sector, therefore they can take several actions for reducing the carbon in the environment, which is beneficial for the company as well as for the society. In the philanthropy phase, the businesses fulfil their social responsibilities by donating to various charitable trusts working across the globe or within the country itself (O'Keefe, 2014). 

Treating the employees of the company ethically and fairly comes under the phase of ethical labor practices. While performing the ethical labor practices the company or any type of business can easily perform its social responsibilities. In the volunteering phase, the company attends various types of volunteer events arranged for the sake of the society or any other welfare purposes. The active participation of the each and every small, medium or large business helps that business in creating a good image in the society by showing its sincerity towards the society. To show their concern regarding the various specific issues without any expectations fulfil their social responsibility. The case study tells us about the CSR communication report of the Sompo Holdings, which is a Japan based company and was established in the year2010 having various affiliated group companies within the country as well as overseas (Sakurada, 2016). The CSR given in the case study includes various ward-looking facts, which are directly influenced by the company’s plans and other management policies. MR. Kengo Sakurada is the president and the CEO of the company and all the description and objectives related to the CSR are defined by him for the successful implementation of the working strategy (Sakurada, 2010).

The CSR report of the company defines various objectives, targets to be achieved and challenges to be faced by the company in the future. The CSR material of the company is totally dependent on various factors other than to international social trends. The CSR report of the company is arranged or designed according to the five material issues of the company (Inc., 2016). The company and its group branches have been working continuously for the fulfilment of the requirements of the people of the country as soon as possible. The company introduces a new management plan in themed of the year for the sake and the wellbeing of the people of the country. The company has expanded its business to a wide range, which includes nursing and the healthcare business across the country (Karnani, 2010). All these services are being provided by the company to the common people by the use of latest technology equipment’s, etc. All these factors are responsible for providing a better growth to the company as well as for providing a sustainable society. By using the latest technology or any type of digital technology helps in the development of the company’s business. As per according to the situation, the management of the company avails latest equipment’s for delivering a variety of services to the society (Sompo Japan Nipponkoa Holdings, 2016). The company is providing the facility of driving support and many more types of services through their call centers, etc. For the successful accomplishment of the CSR vision the company has designed a framework, which consists of different- different parts like solution for the problems raised due to disaster, plans for the welfare of the people related to their health, managing the situations raised due to global issues of the environment, providing relief to the society by empowering method, providing support to the diversity, etc.

The company has also defined some particular strength factors for the various approaches that will help the company in taking several decisions or we can say advantages that it has developed regarding the capabilities and for the management purpose of the various material issues discussed earlier (Shah, 2007). The strengths of the company include the development of the innovative products and the services with the use of financial expertise and many other digital technologies, which helps in delivering various solutions to the problems related to social issues. All this is done and is delivered to the people across the country through the use of latest technology. With the help of the stakeholders and other members of the company the promotion of the development and advancement of the human skills is done within the company and its group branches. Each and every representative of the company, board sectors and the civil society actively participate in the whole process. The facts related to the quality of the life and the facts related to its enrichment are done through the various applications and operations of the experts. All the resources are helpful for the promotion purpose in the field of art and culture (Swinand, 2014). The company has joined the UN global impact and the WBCSD (World Business Council for Sustainable Development) for the various development tasks. The company is taking active participation in the various discussions and the efforts related to the standardization for the sustainability purpose. All these tasks or the initiatives are responsible for the collaboration between all the stakeholders of the company (4-traders Team, 2016).

The company offers a large number of services to its customers as well as to the society. The management makes several efforts for getting connected to the people through the personal interaction method by making the use of digital technology, which directly influences the interface with the customers. The various types of services provided by the company are like P&C Insurance, Life insurance, nursing care, health care services etc. The net income of the company for the year 2015 was approximately 3,256,186 million Yen. The company has set various performance indicators for each and every type of CSR material issued. The company provides various products and services which relate to the health, security and wellbeing of the people. In this, the company has provided insurance to the people so that each every person can easily cope up with the situations of earthquake, any legal disputes, services related to supporting the accidents, etc. They are also making several efforts for making the use of eco-friendly parts through the help of various promotion tasks. For the successful accomplishment of the corporate social responsibilities the management of the company is taking strict and important actions regarding to the environmental issues on the global basis. For this the continuous promotion is being done for the use of renewable products. In the year 2015, the company is making use of 5% of the eco-friendly products, 18% bumpers were repaired by the company, 57% outer panels were repaired by the company for the sake of the environment or we can say for solving the issues related to the environment. The various steps taken by the company, helps the company in decreasing the emission of carbon dioxide in the environment by 7.6%, the consumption of the electric power is also decreased by 2.1% and the use of paper in the country is also reduced by 19% from the year 2014. With the help of Social Return On Investment (SROI) the biodiversity ranges to 2% in the year 2015. The company has increased the existing shares of SRI funds and has received approximately 20 billion yen for the sake of sustainable investment from the fund collected from the pensions.

The company has already provided and is providing various financial services for the purpose of addressing the variety of social issues through the method of loans and other investments. Approximately 4 billion yen is provided by the company regarding to the loans for the promotion purpose related to the use of renewable sources of the energy. The company has also invested a large amount of 51 billion in the growth sectors of the country, which includes various sources of renewable energy and the green bonds. Approximately 13000 employees of the company are taking active participation in the volunteer programs, which shows the involvement of the company in the communities working for the society. The company has the partnerships along with the large number of NGOs/NPOs working across the country for the wellbeing of the people. With respect to the human rights the company promotes the childcare leaves among the employees of the company. Various seminars are conducted from time to time for the promotion purpose as well as encouraging people for the work- life balance. Provide equal rights to both the male and females working in the company.

The company is working continuously for providing a large number of healthcare services to the people of the country and to the people living outside the country. In the long term care service section, the company provides various centres for the long term care, facility of houses for the elders, home care facility for the long as well as short terms. The physical health services are also being delivered by the company by providing guidance related to the health. Various health related programs are arranged by the company from time to time for the people those who are unaware about the critical diseases and for the people on medication. The facility of the mental health care services is also provided to the people by the company. Mental health checkups are arranged for the people living in any part of the country. The company has also provided the facility of consulting services, which provides the people information about every new scheme being introduced by the company for the well-being of the country. It has provided the consulting service for ISO 20121 certification, which helps in maintaining the international standards of sustainability. Support for the calculation of the emission of the gases in the environment taking place through the corporate value chain (Gelles, 2015). The company is also providing the financial products and financial services to the people. Various arrangements have been done by the company’s management for providing relief to the people in the critical conditions. The company provides various types of products related to the services for making the society more reliable.

Conclusion

Through the help of complete value chain, the company is making several promotions for the conservation of resources. It is also working for solving the issues related to the environment. The predefined activities, comes into action for raising the awareness programs related to the environment. It also focuses on the human rights coming under the sector of stakeholders of the company, it also keeps an eye on the equivalent rights of the employees of the company and the rules and regulations considered in the global market. For the corporate social responsibility, the company is taking several actions regarding the corporate citizen activities. It also provides the support for the employees on the individual basis for the efforts make on the social contribution basis.

References

4-traders Team, 2016. Sompo Japan Nipponkoa : Holdings Redefined Group's CSR Material Issues. Holdings Redefined Group's CSR Material Issues, 06 September.

Gelles, D., 2015. Social Responsibility That Rubs Right Off. Energy and environment, 17 October.

Inc., S. J. N. I., 2016. Sompo Holdings Group’s CSR. CSR Approach and Resources.

Karnani, A., 2010. The Case Against Corporate Social Responsibility. Corporate Social Responsibility, 23 August.

O'Keefe, L., 2014. Doing Good Is Good for Business -- Corporate Social Responsibility in 2015. Corporate Social Responsibility, 31 December.

Sakurada, K., 2010. “Corporate Social Responsibility Communication 2010: SJNK media, Available at: https://www.sjnk.co.jp/~/media/SJNK/files/english/news/sj/2010/20101006.pdf

Sakurada, K., 2016. Company Overview of Sompo Holdings, Inc.. Company Overview .

Shah, A., 2007. Corporate Social Responsibility. Global issues: CSR, 07 July.

Sompo Japan Nipponkoa Holdings, 2016. SOMPO HOLDINGS redefined group's CSR material issues. CSR material issues, 11 June.

Swinand, A., 2014. Corporate social responsibility is millennials' new religion. Corporate social responsibility, 25 March.