The strategic issues that are important in addressing corporate social responsibility issues

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Corporate social responsibility issues and challenges

In some cases, firms may have been coerced into adopting CSR and did so with insufficient enthusiasm and vigour, leaving many of them to ponder what they could and should have done differently. Competitive Advantage The data collected for the Carrefour case study offer evidence of some benefits obtained through CSR actions, including employee motivation, image and reputation enhancement as well as awards. The authors cited also state that, in the management literature, ethics and social responsibility have been frequently connected to corporate objectives and incorporated into business speeches. Institutional Shareholder Services Inc. In some situations, store directors take part in local community associations in order to find out more about how the company can contribute. The competitive advantage that stems from social responsibility can be seen through the direct influence of its resources, creating an improvement in reputation and image, the retention of exceptional people, employee motivation, aggregate value, better economic performance provided by social responsibility aligned with corporate strategy, innovative and efficient projects, better environmental performance, better social performance and improvement in corporate governance. Companies should be cognizant of certain potential legal issues involving the CSR report, including 1 Regulation FD Fair Disclosure , as the CSR report should not be the medium to release material nonpublic information, 2 other public disclosures, as the CSR report should contain information consistent with disclosures in other public documents e. As a result, many businesses openly advertise their commitment to offering only cruelty-free ingredients and products.

There are, however, certain elements and disclosures that consistently appear in such reports. Building theories from case study research.

4 social responsibility issues

Business Horizons, 50 1 A study by the Kenexa High Performance Institute in London a division of Kenexa, a global provider of business solutions for human resources found that organisations that had a genuine commitment to CSR substantially outperformed those that did not, with an average return on assets 19 times higher.

We are concerned about them.

need for corporate social responsibility

Scandinavian Journal of Management, 25 1 At the heart of life: sustainability report. Social responsibility and ethical practices are vital to your success.

The strategic issues that are important in addressing corporate social responsibility issues

Essential Components of Corporate Social Strategy The modelling of the essential components of social strategy is a necessary element for characterising such strategies. Husted and Salazar affirm that companies should put their social responsibility strategies into practise with the intention of improving both economic and social performance. Finally, the farms we work with to produce our botanicals are all certified as Fair Trade partners. These special suppliers are regularly audited and some receive a corporate stamp. The present work seeks to enrich the discussion on social responsibility and contribute to the existing literature on the associations between CSR, business strategy and competitive advantage. These aspects are also internal resources that are difficult for competitors to copy Barney, The second section explains the main and specific objectives of the work. References 5. However, to obtain this advantage, the resources must be 1 valuable, exploring the opportunities and neutralising threats to the environment of the firm; 2 rare, not being present in any rival or potential rival company; 3 inimitable, so that others cannot imitate them; and 4 non-substitutable, meaning they do not have strategic equivalents Barney, Scandinavian Journal of Management, 25 1 , Corporate responsibility: reflections on context and consequences. However, the jury is still very much out as to whether companies have it within them to embrace a broad or multifaceted vision of CSR.

A separate survey by Environics International revealed that more than a quarter of share-owning Americans took into account ethical considerations when buying and selling stocks.

The influence of stakeholders on CSR actions in the case of Carrefour can be seen in the conception of some CSR actions, which are demanded by the community through the regular surveys that assess their needs and priorities.

Potential Legal Issues. According to direct information from a Carrefour manager, employee retention is considered difficult to obtain if only taking the CSR contribution into account, but CSR together with other variables can make a difference in employee retention.

companies with corporate social responsibility issues 2018
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Social Responsibility: The Importance for Businesses