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Corporate Social Responsibility | Essay

   

Added on  2020-05-28

5 Pages1336 Words156 Views
Running head: CSR0CORPORATE SOCIALRESPONSIBILITY

CSR1ESSAY:Sustainable business is the need of hour today. It has been analysed that attaining theshareholder’s value and making the business sustainable cannot be done by short term profits butit is required by the organisations to be responsible in nature. Companies have to make efforts interms of managing their processes and operations in a way so that they can enhance the businesseconomically without affecting the environment in a negative way. Corporate socialresponsibility is term that has been given to the concept of businesses to be responsible towardssociety (Andersen & Skjoett-Larsen, 2009). The major aim of CSR is to make the company’saction responsible so that it can have a positive impact on the environment, consumers,employees, communities, stakeholders and society as a whole. CSR is basically about aligningthe business activities and values to the stakeholder’s needs. This develops a theory of CSR thatis called as stakeholders’ approach. Stakeholder’s approach is the approach that deals with fulfilling the needs of all the stakeholdersby the company without compromising with the responsibility towards the society andenvironment. There are many stakeholders of the company such as customers, employees,shareholders, suppliers etc. As far as the company like IKEA is considered, kit has been analysedthat the CSR commitments of the company purely follows the approach of stakeholder’s theory.This is because IKEA is the firm that focuses on fulfilling the needs of each and everystakeholder by their practices (Tai & Chuang, 2014). Customers are the stakeholders of thecompany which are very important. The company provides affordable products to the customerswhich are very energy efficient in nature. This suggests that the company is fulfilling the needsof the customers keeping the environmental safety in mind (Málovics, Csigéné & Kraus, 2008).As far as the suppliers of the company are considered, it has been analysed that the companydeals with the suppliers who are sustainable in nature and thus make sure that all their suppliersfollow the sustainable processes at their place. The company is also linked with some of the longterm partners or NGO’s. All these NGO’s and other organisation that have collaboration withIKEA suggest that IKEA is the firm that is committed towards it CSR policies and the policies ofthe company are very appreciable (Strand, 2009). IKEA is collaborated with two main partnersthat are amongst the major stakeholders of the companies that are UNICEF and WWF. As far the

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