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Management, Pages: 3, Research paper

Continuing the Corporate Social Responsibility Journey

Continuing the Corporate Social Responsibility Journey

Today’s customers, the general public, and governments expect businesses to incorporate corporate social responsibility (CSR) initiatives as a core component of their operations. CSR initiatives help companies to align their operations with societal and environmental goals. Considering CSR’s brand image implications on businesses, organizations seeking to gain, maintain, or enhance their competitive edge must undertake CSR initiatives: Continuing the Corporate Social Responsibility Journey.

CSR programs undertaken by businesses revolve around environmental sustainability, social justice, inclusion, and human rights. This proposal presents environmental factors that will influence Global Protech’s CSR initiatives and CSR strategy, the company’s CSR vision.

Stellar Examples of CSR

Gavin (2019) presents examples of CSR initiatives undertaken by different companies for environmental sustainability and people-oriented purposes. One such company is Lego, a toy production company. Lego is among the few companies in the toy production industry that has committed to contributing to environmental sustainability. The company’s initiatives include curbing its carbon footprint, reducing waste, and using renewable resources.

For instance, the company sought to reduce its packaging size by 14%, an initiative that made the company save up to 7,000 tons of cardboard between 2013 and 2014. A related environmental sustainability initiative was using botanic material produced from sugarcane instead of petroleum-based plastics. This example shows how companies can contribute to environmental sustainability along their supply chains.

Philanthropy is another opportunity for corporate social responsibility. Through employee volunteerism and direct financial support to non-profit groups that offer social services, businesses can make a beneficial impact on the welfare of the communities in which they operate.  A good example of successful philanthropy work is the cloud-based software company Salesforce. Salesforce implements a 1-1-1 philanthropic model through which it offers one percent of its products and another one percent of equity toward philanthropic works.

The company also provides one percent of employee time for philanthropic activities (Gavin, 2019). Salesforce’s CSR initiatives provide a perfect model for internet-based companies on how they can directly impact societies despite being virtual. Moreover, Ben and Jerry’s social mission shows how companies can sacrifice a percentage of their profits to promote social justice initiatives.

Since 1985, the company has actively supported grassroots organizations that promote social justice. Every year, the company offers $2.5 million in grants to Vermont organizations supporting social justice initiatives (Gavin, 2019).

Another key component of CSR presented in the sources is a commitment to offer employees more than just the minimum living wage. Patagonia is one such company that seeks to ensure its employees receive more than just the minimum wage. Although the company has yet to achieve this objective, it emphasizes that achieving the goals would be critical to improving employees’ welfare (Vuong & Bui, 2023). As the adage says, ‘Charity begins at home,’ businesses will improve their image if they are seen to care about their employees’ welfare.

Elements Left Out in the Previous Vision

One of the critical CSR elements left out in the previous vision is employees’ economic welfare. Renumerating employees competitively and beyond industry standards influences employees to commit to the organization (Li & Wang, 2022). Such an initiative not only bolsters employees’ welfare but also ensures that the organization saves on the cost of conducting recruitment exercises for new employees.

Another benefit is that when CSR is directed toward employees, they are likely to exploit their potential and engage in innovative initiatives (Li & Wang, 2022). Besides, compensating employees competitively bolsters a company’s image as a fair employer, hence the likelihood of attracting quality hires in future recruitment exercises.

Another CSR opportunity I overlooked in the previous vision is the pursuit of social justice. Business companies can support a community’s social justice initiatives by offering direct financial support to nonprofit organizations that implement CSR initiatives. Participation in social justice can bolster an organization’s reputation as one that cares about the welfare of its people, hence attracting a loyal customer base. It is worth noting that today’s customers look at more than the quality of products before deciding whether to patronize a company.

Vision statement for CSR at Global ProTech

            “Our vision at Global Protech is to lead with integrity and innovation in fostering a sustainable future for people, the planet, and our business. Our commitment to social justice seeks to ensure the company sustains inclusion, diversity, and fair access to opportunities for all. We value the environment and will pursue initiatives, technologies, and practices that curb our carbon footprint. We also seek to remunerate our employees fairly to make them feel valuable so that they can align with the organization’s goals.”

Potential Impact of the Global Protech CSR Vision

Integrating the CSR vision into operations will lead to the company adopting technologies and processes that reduce energy consumption, curb wastage, and reduce overall company costs. Besides, the company will enhance brand loyalty by prioritizing sustainability initiatives (Becker-Olsen et al., 2006). Today, commitment to sustainability has become a key differentiation strategy for companies seeking a competitive edge. Similarly, commitment to sustainability will help the company better manage risks associated with environmental regulations.

Externally, a commitment to environmental sustainability will help the company set industry standards, potentially influencing other industry players to adopt ethical and sustainable practices. Besides, Global Protech’s commitment to sustainability will open more doors to collaboration opportunities with governments and non-governmental organizations, introducing synergy for innovation. The company’s proactive CSR approach will also lift the community by supporting educational access and creating a pathway to employment opportunities.

References

Becker-Olsen, K. L., Cudmore, B. A., & Hill, R. P. (2006). The impact of perceived corporate social responsibility on consumer behavior. Journal of Business Research, 59(1), 46–53. https://doi.org/10.10 16/j.jbusres.2005.01.001

Gavin, M. (2019, June 6). 6 corporate social responsibility examples that were successful. Harvard Business School. https://online.hbs.edu/blog/post/corporate-social-responsibility-examples

Li, T., & Wang, Y. (2022). Corporate responsibility towards employees and innovation: Evidence from an emerging market. International Review of Financial Analysis, 102410. https://doi.org/10.1016/j.irfa.2022.102410

Vuong, T. K., & Bui, H. M. (2023). The role of corporate social responsibility activities in employees’ perception of brand reputation and brand equity. Case Studies in Chemical and Environmental Engineering, 7(100313), 100313. ScienceDirect. https://doi.org/10.1016/j.cscee.2023.100313

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Question

In your role as the new HR executive at Global ProTech hired to help advance the CSR vision for the organization, you have been working on a proposal for what CSR should look like at your organization. However, in order to be truly satisfied with your work, you have continued your research and your assessment of the organization and have examined how other organizations have effectively conceptualized CSR. In other words, your vision of what Global ProTech needs to do is continuing to evolve.

To complete this Assignment, review the Learning Resources for this week and respond to the following key points in a 3- to 4-page academic paper; refine your proposal for what CSR should look like at Global ProTech.

  • Explain how you will draw from the stellar examples in the assigned resources to revision your thinking about CSR in your organization.
  • Note elements you left out or opportunities you overlooked in your previous vision.
  • Write the vision statement for CSR at Global ProTech that could advance valuable initiatives fundamental to the company’s contribution to a sustainable future. i.e., being able to sustain this effort over time. Keep in mind that through your vision statement, you will paint a picture with words for the goals of the CSR initiative at Global ProTech.
  • Analyze the potential impact of this vision, if realized, on both its internal environment (i.e., its operations, its employees, its success) and externally (i.e., the industry, communities, worldwide initiatives).

    Continuing the Corporate Social Responsibility Journey

    Continuing the Corporate Social Responsibility Journey

Sources that can be used as a guide are: