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Corporate Social Responsibility - Marks & Spencer

   

Added on  2020-10-23

9 Pages2673 Words357 Views
CORPORATE SOCIALRESPONSIBILITY
Corporate Social Responsibility - Marks & Spencer_1
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 2 ...........................................................................................................................................3Summary and Rational ...............................................................................................................3Ranking to CSR with company ..................................................................................................3Specific example of corporate actions .......................................................................................4CSR influences purchasing power of consumers .......................................................................6CSR relevant in current business environment...........................................................................7CONCLUSION ...............................................................................................................................8REFERENCES ...............................................................................................................................9
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INTRODUCTION Corporate social responsibility (CSR) is essential to any company for growth and successof business. The present report is in context to Marks and Spencer which is a multinational retailcompany. Furthermore, the report will examine the extent to which the chosen organisationfocuses on corporate social responsibility analysing company’s action with regards to the same.In addition to this, the impact of CSR approach of Marks and Spencer on purchasing decisions ofthe customers will be also examined in this study. TASK 2 Summary and Rational Marks & Spencer group plc is one of the leading British multinational retailers in theworld. The company is headquartered in Westminster, London that is specialized in selling homeproducts, clothing & luxury food products. It is also listed on the London stock exchange. Marksand Spencer was established in the year 1884 by Thomas Spencer and Michael Marks in Leeds.The organisation started to sell branded items such as Kellogg's corn flakes in the year 2008. Thecompany presently has more than 980 stores all around the United Kingdom, it has more than600 stores that deals only in food products. In the year 1998, Marks and Spencer became the firstBritish retailer to earn a pre-tax profit of over £1billion. The company has employed more than85,000 employees in different countries. The current net income of the company isapproximately £115.7 million. The reason for choosing this organisation is that Marks andSpencer is highly focused on fulfilling their corporate social responsibility, it has recentlylaunched PLAN A. It is a strategy which assist the company to develop a sustainable future bybecoming a business enabling customers to have a positive impact on well-being, the planet andcommunities through the organisation activities (Jamali and Karam, 2018). Marks and Spenceruses various effective CSR strategies or approaches that will be helpful in analysing theimportance of social responsibilities and its impact on purchase decisions of the customers. Ranking to CSR with company The rank of Marks and Spencer is 55 with regard to corporate social responsibility in theretail industry. The score of M&S in CSR that is 73.2 in 2016. Therefore, company has alwaystaken accountabilities to consumers, workers, partners, suppliers severely. Firm is accountable
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