You are required to write a report to the Board of Directors of Illuminate Ltd on the apparent growing importance of Corporate Social Responsibility.
You should include in your report:
1. An explanation of what is meant by the term “Corporate Social Responsibility”
2. A description of how it is connected to the strategic purpose of the Company;
3. An analysis of the results of the application of CSR in the light of various stakeholder group expectations, using both good and poor examples from a variety of industry sectors; and
4. An explanation of why you think the Board should adopt the concept of CSR; giving clear and concise reasons for your recommendation.
The project lies in the corporate social responsibility of the companies situated in the globalized economy of the organization. The corporate social responsibility and its related theories are important for maintaining the better environment of the organization in the society. The project lies in the understanding of the purpose of corporate social responsibility in a particular environment of the country. The overall idea of the social responsibilities is performed for the maintaining the external environment of the company and compensating the hazards given by the different organization of the society of a nation. There are certain numbers of activities that are about to done by the companies to maintain their social for avoiding legal obligations from a government of the country (Ahmad, 2012).
The corporate social responsibility is also an activity that is lies on the maintaining the goodwill of the company in the market and reducing the compliance issues of the organization. In this project, some of the practical scenarios of corporate social responsibilities are shown for understanding of the involvement of that organization to provide the social benefit to the country. The CSR activities are a movement that is mandatory for an organization to maintain during their operation period (AhÌ£mad and Crowther, 2013). The corporate social responsibility of the organization generally reduces the risk of the business activities. There are some metrics follow the organization during the operational activities and also a measurement tools for the investors of the business activities of the company.
The corporate social responsibilities are the one of the most mandatory activity initiated by the government of the particular country. And also the CSR activities are influenced the company to create the goodwill of the organization by doing corporate social responsibility in the organization (Arvidsson, 2014). Corporate social responsibilities are having different aspects of the companies. Those are required to utilize for social contribution like health services, education services, enhancement of quality of environment and also regional responsibilities of the company in a particular place of the nation.
Every company in the economy requires corporate social responsibilities strategies to maintain the discipline and corporate value of the company. There are some of the companies is having the engagement with the company. Companies are faced many difficulties during the operational activities of the organization. They are taking initiatives for the improvement of business activities of the companies. There are certain corporate social responsibilities that are used from corporate in their supply chain activities, marketing and brand promotion activities of the company (Brejning, 2012). Now, days CSR is a social event that is initiated by the organization to maintained the goodwill of the organization in the market. The corporate social responsibilities have three different aspects of managing the frameworks of a strategic implication of the organization to follow the social responsibility towards society. There are various types of components are available to measured the corporate social responsibilities of the company.
The companies are mostly doing charitable activities for reducing the tax obligations of the company. And also established some of the charitable instituted to serve poor and needful people.
The corporate social responsibilities of the organization are based on the reduction techniques of short-term risk of the company.
The company's social responsibilities are measured by the legal obligations of the organization to maintain the stability of business ecosystem of the company and made coordination between social environment and company for long-term sustainability of the company.
The large organizations that are having earning huge numbers of money from the different operational activities in the society.And those activities handle the degradation of a quality of the environment are mandatory to do corporate social responsibilities to maintain the welfare of the company.
There are some numbers of applications of corporate social responsibility is required for the fulfillment of stakeholder's group expectation of the company. There are some of the CSR theories are presented for the corporate social responsibilities of the organization. The corporate social responsibility activity of the organization is based on the social responsibility theories utilitarian, managerial and relational are related to the theories of social cost or functionalism, corporate social performance. And also the stakeholder approaches of the organization based on the corporate responsibilities towards society (Coombs and Holladay, 2012). The stake holder's theories are invented for the maintaining the complex relationship between companies and environment of the society. The company is addressing some of the social issues to maintain the quality of the environment of the company. The business and society environment, corporate citizenship and social contract of the organization are maintaining the social responsibility.
As per the stakeholders approach of the companies in the global market is required for the developing the different models to improve the social responsibilities of the organization which is based on the individual behavior of the firms in the social environment of society. The stakeholders of the company are willing to maintain the relationship with the social environment by providing various kind of benefits to the people and social activities to improve the quality of the environment (Fleming and Jones, 2012). The company is maintaining different kinds of social responsibilities in daily management activities of the organization cooperating with the adaptive system of the organization to maintain the relationship between legal and political relationships of the organization.
The impact of Corporate Social Responsibility Good Example: Company Coca-Cola food and beverage companies are dealing with the chemical preservatives and others are degrading the quality of the environment of particular countries. But due to good rating of social work done by the company can easily save the reputation of the company in the market. The goodwill of the company is created by the company themselves by doing different corporate social responsibilities of the organization in all around the world (coca-colacompany.com, 2015). The corporate governance policies and practices are different as per the law and judicial authorities of the country the company belongs to. But the reason behind doing these activities are same to compensate the degradation of environment quality, health facilities of people and education facilities for children for the particular country. The Coca-Cola Company has been spent more than $ 71.23 million dollars in the corporate social responsibilities of the organization. Coca-Cola Company is always trying to cover all the impact on the business structure of the organization whereas the company is organized huge numbers of corporate social responsibilities events to legal obligations of the government of different countries.
An impact of Corporate Social Responsibilities Bad Example: Company Rio Tinto Limited Australia based company is about to done with so many numbers of corporate social responsibilities activities during their operational period. The company is an ore mining organization doing lots of hazards to the external environment that created lots of environmentally based issues in the society is directly and indirectly provided the impact on the business and revenue-generating activities of the company (Riotinto.com, 2015). So the company is invested huge amount of contribution $ 2.71 million dollars in education services, health facilities providing activities and also others society welfare activities of the organization. There are some of the sustainability activities of the organization is based on the increasing the demand and supply of the company in the market (Quazi and Richardson, 2012). Rio Tinto is also produced lots of chemical minerals which is responsible to decreases quality of the environment. And life of people who are residing in the Australia but as company did numbers of corporate social responsibilities, but due to some lacking activities in that gives higher inverse situation facing incidence for the company by the Australian government for corporate governance (LoÌˆber, 2012).
According to the overall analysis of corporate social responsibility for companies, are required to as per the environment degradation activities done of the organization in different companies and institutes in all around the world. But now a day's companies are doing CSR activities for initiating the people of the country and as a promotion activity (Illuminatedesign.co.uk, 2015). According to the overall benefits and advantage are showing that corporate social responsibility is always good for the making the better connection between companies and environmental culture of the country to developed the work standards of the country in all around the world. So the board required adopting the corporate social responsibilities to provide benefits to the society and in return the reputation of the country will increase in a vital manner in all around the world.
According to the overall project report on corporate social responsibilities and its benefits to stakeholders of the company and external environment of the country from where the company belongs to. There are some of the applications of corporate social responsibility is discussed in the report for understanding of benefits of the CSR activities for the companies in the society. There are few examples of Rio Tinto Limited and Coca-Cola food and beverage companies are showing the different impact of corporate social responsibilities of the company depends on the segment of the companies belongs in the market. And at the last the overall recommendation is given to the Board of Directors of the company Illuminate Ltd, that proceeding with corporate social responsibilities will be beneficial for the business environment of the country.
Ahmad, J. (2012). Can a university act as a corporate social responsibility (CSR) driver? An analysis.Social Responsibility Journal, 8(1), pp.77-86.
AhÌ£mad, J. and Crowther, D. (2013). Education and corporate social responsibility. Bingley, U.K.: Emerald.
Arvidsson, S. (2014). Corporate social responsibility and stock market actors: a comprehensive study.Social Responsibility Journal, 10(2), pp.210-225.
Brejning, J. (2012). Corporate social responsibility and the welfare state. Farnham, Surrey: Ashgate Pub.
coca-colacompany.com, 2. (2015). [online] Available at: https://www.coca-colacompany.com/2013-2014-coca-cola-sustainability-report... [Accessed 4 Aug. 2015].
Coombs, W. and Holladay, S. (2012). Managing corporate social responsibility. Malden, MA: Wiley-Blackwell.
Fleming, P. and Jones, M. (2012). The end of corporate social responsibility. London: SAGE.
Gonzalez-Perez, M. and Leonard, L. (2013). International business, sustainability and corporate social responsibility. Bingley [England]: Emerald.
Haynes, K., Murray, A. and Dillard, J. (2012). Corporate social responsibility. Abingdon, Oxon: Routledge.
Illuminatedesign.co.uk, (2015). Illuminate Design Ltd | Lighting, Sound and Vision Specialists. [online] Available at: https://www.illuminatedesign.co.uk [Accessed 4 Aug. 2015].
Lindgreen, A. (2012). A stakeholder approach to corporate social responsibility. Farnham, Surrey: Gower.
LoÌˆber, H. (2012). Corporate management, corporate social responsibility and customers. Hamburg: Diplomica Verlag.
Quazi, A. and Richardson, A. (2012). Sources of variation in linking corporate social responsibility and financial performance. Social Responsibility Journal, 8(2), pp.242-256.
Riotinto.com, (2015). Home - Sustainable development 2014 - Rio Tinto. [online] Available at: https://www.riotinto.com/sd2014/ [Accessed 4 Aug. 2015].
Thauer, C. (2014). Managerial Sources of Corporate Social Responsibility. Cambridge University Press.
Tsutsui, K. and Lim, A. (n.d.). Corporate social responsibility in a globalizing world.
Tully, S. (2012). International corporate legal responsibility. Alphen aan den Rijn: Kluwer Law International.
Underwood, S. and Murray, A. (2012). Social and sustainable enterprise. Bingley, U.K.: Emerald.
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