Aim of Corporate Social Responsibility
20 Pages4560 Words290 Views
Added on 2019-09-20
Aim of Corporate Social Responsibility
Added on 2019-09-20
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Chapter 1: IntroductionCSR plays a pivotal role in strengthening and monitoring the business aspects and relations thatcomply with the ethical code of conduct at national and international level. CSR has beendenoted by several names, but it abbreviates to corporate social responsibility. However, thedifferent names and forms may include corporate conscience, corporate citizenship and ethical orresponsible business (Wood, 1991). The motive and reason behind several names are the domainand platform it extends its services. The primary aim and objective of CSR are to look beyondthe profit margins and work for social good, which is more close to an ethical code of conduct(McWilliams, 2001). CSR aims to build effective and trust relations with the public, whichprovides them long term benefits and profits for the company as the shareholders trust thecompany’s responsibility towards social, economic and environmental factors. CSR engages thestakeholders to work in proximity and make the best out of the least. The stakeholders whichinclude different employee domains, consumes, investors, shareholders, etc. all together makesignificant efforts and dedication to make the entire work channel of supply chain managementsmooth and non-redundant.The aim of corporate social responsibility is to make positive public relations and implementinga moral, social, corporate and environmental code of conduct which limits the company's roleand involvement in legal matters as they exhibit consumer trust and benefits. Corporate socialresponsibility blends and defines the role of the company by integrating and engaging itsstakeholders with social and environmental concerns. Corporate social responsibility follows a‘Triple bottom line' approach, which maintains a balance between different segments constitutingeconomic, social and environmental imperatives (UNido.org, 2017). CSR is a modernmanagement strategy that aims to build long-term partnerships and business relations rather thanimplying them as charity or sponsorship programs, which aims to lure customers and gainpublicity. But the aim, scope, and objective of CSR goes beyond normal business managementstrategies and is very crucial for the company to sustain in the global market while maintainingthe trust of its customers. All these factors help the company to maintain their brand and imagewith minimum engagement in the litigation processes. The role and responsibilities exhibited byCSR in these domains have been described in the image (Fig. 1) below: -Page | 1
Fig. 1, Source: -(2017).Unido.org. Retrieved 22 March 2017, fromhttp://www.unido.org/uploads/tx_templavoila/CSR_01.jpgThere are several key issues that are addressed while engaging with corporate socialresponsibility viz. helps the company to regulate their environmental management sector thatcomplies with latest guidelines and strictly adhering to them; maximizing the eco-efficiency andsustainability; makes and drives the company to follow responsible sourcing protocols andparameters; engages different stakeholders towards common aim and objectives; complying withnational and international labor standards and working regulations; build effective andtrustworthy relations of employee with its stakeholders (Walker, 2008); maintaining genderequality and benefits to all employees equally; complying with human rights at all costs andconditions; maintaining a good governance and share equal responsibility for all work done andlastly implementing ethical code of conduct covering all domains and strictly implementing anti-corruption management within the system. CSR offers multiple benefits and advantages to thePage | 2
company as they increase the brand trust and value, increases the company sales and profitmargins which help them to achieve set goals, increased efficiency among different stakeholders,and validated procedures and protocols to manage risk management. Aims and Objectives of PrimarkTo maintain quality standards and providing the best from the least.To use and maximize production of products that comply with environment safetyEnsuring all the products pass through several quality assurance and quality controlbarricades before stepping into the market.Making the packaging and industrial set up to be environment friendly and implicatingmore focus on renewable resources.To provide services without charge to poor or the persons in need.Strictly implementing labor laws and working conditions to safeguard the health andeconomic background of workers.Providing free medical assistance to workers while engaging in an accident during work.Formulating employee friendly policies to make positive work environment culture.To maintain quality checks and initiate regular audits on the suppliers to keep a close eyeon regulations implementation and preventing their exploitation.Project Management PlanProject management is very essential for any company as it involves proper utilization of skills,knowledge, resources, different tools and techniques to meet customer demands andrequirements, complying with national and international standards and regulations. A properlyvalidated project management plan helps the company to assess proper needs of the customer,helps to estimate the overall budget of project and risks involved, proper utilization of resourcesand organizing planned activities to complete the project in stipulated time. A standard projectmanagement plan (Larson, 2012) includes: -Page | 3
Primark project management process: -Control parameters in project management plan in Primark: -Page | 4
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