Corporate Social Responsibility

Corporate Social Responsibility

Difference between Total Societal Impact (TSI) and CSR

Corporate social responsibility is a business model that is applied to enable a company to remain socially accountable to the stakeholders, itself, and the community or public. It mainly focuses on the economic, environmental, and social consequences of an organization’s activities (Villiers, 2011). The main goal of CSR is to boost the organization’s image and build its brand. Formal CSR motivates employees by improving their morale, thus increasing productivity in the workplace. Total Societal Impact is the real benefit an organization yields to society through its operations, services, products, activities, and core capabilities (Beal et al., 2017). According to Woods (2013), the difference between CSR and Total Societal Impact is that CSR is a short-term strategy to create a good image for the company to meet stakeholders’ needs and increase profitability, while TSI is a long-term commitment to giving back to the community despite the economic consequences.

Adidas Company TSI implementation

Many companies are embracing the idea of Total Societal Impact to create a good image and contribute to building sustainable communities. For instance, Adidas practices total social impact by focusing on employee engagement, community involvement, and corporate giving. The company has designed a school program to create fitness accessibility for children between 5 and 12 years old, improving their executive function and memory. The company is also implementing various programs aimed at enhancing the skills of its female workers and helping them access substantial opportunities in the workplace. Such programs include the Pakison Women Empowerment Program.

Additionally, the company introduced the SOS Children’s Village, which is aimed at helping children without families by offering them the support they need to grow up. The company also partners with local organizations worldwide to reach people in need and offer the assistance that the company can manage to offer. For instance, the company donates products and provides financial aid for victims of natural disasters through humanitarian aid organizations worldwide. The community involvement segment includes support for refugees. The company is involved in various refugee initiatives through its refugee support approach. The approach follows a specific model based on humanitarian aid, employment integration, and close collaboration with external partners, public authorities, and volunteers. The company is also part of the Wir Zusammen initiative that focuses on helping refugees find their place in society. It also provides job opportunities for refugees by enrolling them in internship programs and ensuring that they are permanently or temporarily hired at the company. The company also ensures that the refugees get insight into its logistics, retail, and business endeavors and get the support they need for their incorporation into the European business environment.

The company’s TSI process also includes tuition for language classes, job application training, intercultural communication training, and sports courses. The company is currently offering financial assistance to support Syrian children in refugee camps so they have access to education. They can spend their summer holidays improving their social skills and physical and mental well-being. The company is also active in enhancing sustainability by focusing on reducing waste, making quality products, upholding health and safety standards, upholding decent labor, raising awareness of the dangers of plastic waste, and refining production methods. TSI has played a significant role in improving the company’s economic performance because it has gained recognition as a company that does not solely focus on increasing its profits but is also mindful of the community’s well-being, including communities that are not around the company’s area of operations.

References

Beal, D., Eccles, R., Hansell, G., Lesser, R., Unnikrishnan, S., Woods, W., & Young, D. (2017, October 25). Total societal impact: A new lens for strategy. BCG Global. https://www.bcg.com/publications/2017/total-societal-impact-new-lens-strategy

Villiers, C. (2011). Corporate social responsibility*. The Role of Labour Standards in Development. https://doi.org/10.5871/bacad/9780197264911.003.0011

Woods, W. (2013). The business benefits of doing good [Video]. TED: Ideas Worth Spreading. https://www.ted.com/talks/wendy_woods_the_business_benefits_of_doing_good?language=en#t-919104

ORDER A PLAGIARISM-FREE PAPER HERE

We’ll write everything from scratch

---

Corporate social responsibility (CSR) is a longstanding strategy for companies to be accountable to the public (ordinarily local areas) as well as to their stakeholders. But is that enough, according to Wendy Woods, a Social Impact Strategist?

View the following TED Talk video by Wendy Woods on The Business Benefits of Doing Good.

The Business Benefits of Doing Good (TED BCG 15:26) (Links to an external site.)

After watching the Video, read the article complimentary to the Video: Total Societal Impact: A New Lens for Strategy (BCG Henderson Institute) (Links to an external site.)

After viewing the Video and reading the article, respond to the following questions in essay format.

How does Total Societal Impact (TSI) differ from CSR?
Find a company already using ‘SI and provide a summary of its’ process and outcomes from TSI implementation.
Your essay should be at least two (2) pages, double-spaced, with proper references, and adhere to the citing format per APA guidelines. Use at least two (2) scholarly sources with in-text citations supporting your essay. Don’t forget to include a cover page, introduction, body, and conclusion for your essay.