Approaches to CSR of Micro, SME and Corporate Business

Csr
Table of Contents

INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Sustainable approach to business strategy and management.................................................1
Challenges associated with Corporate social responsibility...................................................4
Approaches to CSR of Micro, SME and Corporate Business................................................4
CONCLUSION................................................................................................................................7
REFERENCES................................................................................................................................8

INTRODUCTION
Corporate Social Responsibility (CSR) is basically a management concept that reflects
enhanced integration of social and environmental concerns in business operations and functions
of a company or firm along with meeting expectations of their stakeholders in more ethical way
(Hopkins, 2016). Thus, it can be evaluated that CSR is a self-regulating business model that
males a company more socially accountable trough practicing corporate social responsibility that
makes it more conscious on all aspects of society, including economic, social, and environmental
factors. The current report consists of an explanation about the suitable approach to business
strategy and management. Beside this, different approaches to CSR of micro, SME and
Corporate Business are also consisting in this report along with measuring success in their CSR
strategies.
MAIN BODY
In today’s world Corporate social responsibility (CSR) has become a vital part of all
organisation irrespective of their size or business operations. The main reason for enhancing
importance of CSR consists of the fact that a business corporate sustainability is both strategic
and profitable for businesses through leading Sustainable management with enhanced
intersection of business and sustainability (Cui, Jo and Na, 2018).
Sustainable approach to business strategy and management
Sustainable approach to business strategy and management consists of ensuring proper
compliance and balance with environmental regulations along with researching and adopting
sustainable policies and initiatives that consists of setting sustainability performance goals that
are more strategic and ambitious to build awareness about the sustainability programs within the
company for proposing initiatives towards sustainable development of an organisation (Matten
and Moon, 2020). The main approach and theory that is adopted by business orgnisation is
fulfilling their Corporate social responsibility which reflects a type of self-regulation by
organisations that aims at contributing more towards societal goals of a philanthropic, activist, or
charitable nature by engaging in or supporting volunteering or ethically-oriented practices.
Sustainability approach to business strategy and management consists of various ways and
strategies that are adopted by a business orgnisation to ensures a better balance and integrations
among its business operation and social and environmental concerns to ensure protection of
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environment along with meeting demands and expectations level of all stakeholders including
overall economic, social, and environmental factors (Kang, Germann and Grewal, 2016).
Sustainable business strategy and approach basically reflects is the integration of
economic, environmental, and social aims into a goals, activities, and planning of an organisation
with the main aim of creating long-term value for the whole organisation, its associated
stakeholders including the whole society and environment in a wider context (Schäfer, 2016).
Thus, it could be evaluated that Sustainability business approach consist of a set of actions that
meet the needs of the firm and its stakeholders today along with while protecting, sustaining, and
enhancing the natural and resources that will be needed in the future. The main Sustainable
approach to business strategy and management that could be adopted by an organisation consist
of following main strategies and approach (Five ways to make your business more sustainable in
2017, 2017).
Thinking about sustainability while setting goals and objectives
The first and foremost step that is adopted my many business orgnisation like Tesco,
Uniliver, Aston martin, etc, consists of thing about sustainability while setting goals and
objectives that makes them able to set such objectives and mission that ensures fulfilment of
corporate social responsibility along with meeting expectations of customers. The belief of Aston
martin and other automotive brands like Bentley, Rolls Royce that aim at coming up with more
electric vehicles reflects their goals and aim towards leading a more better environment that is
free from pollution and high carbon emission (Baik, Farber and Lee, 2016). Thus, it can be
evaluated that the best and most forward way to make your business socially conscious and build
a sustainable approach to business strategy and management consists of having a belief in this
concept and coordinate and balance sustainability with the mission and vision statements in order
to will actively seek help and support to community, society and other ecological and social
factor.
Thinking Paperless and recycling agenda
The another way and approach that is adopted by business organisation to work towards
sustainability and fulfil their CSR approach consists of Thinking Paperless and recycling agenda
in order to preserve the trees and forest that are cut to produce papers along with maintaining
availability of resources in future through adopting the approach of recycling (Demirag, 2018). It
has been seen that, thinking paperless is the relativity of today’s virtual world as it not only lade
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