Corporate Social Responsibility and Sustainability

Running head: Corporate social responsibility and sustainability
Corporate social responsibility and sustainability

Corporate social responsibility and sustainability
Executive summary
Sustainability is a comprehensive approach or strategy that focuses on the economic, social and
environmental value. Aside this, CSR is an effective and unique business approach that
contributes to sustainable expansion and development. Nokia Company has been taken in the
task as a case study. The paper provides brief information about the key principles, roles and
significance of sustainability and corporate social responsibility. In addition, it explains that how
Nokia carry out sustainability practices and corporate social responsibility within the
organization. The paper describes that how CSR and sustainability may affect the survival and
expansion of the Nokia.
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Corporate social responsibility and sustainability
Table of Contents
Executive summary.....................................................................................................................................2
Introduction.................................................................................................................................................4
Literature review on key principles of sustainability practices and CSR......................................................5
Critical analysis and case study...................................................................................................................6
Sustainability and CSR practices at Nokia...............................................................................................6
Suggestions...............................................................................................................................................11
Conclusion.................................................................................................................................................12
References.................................................................................................................................................13
Bibliography...............................................................................................................................................16
Appendices................................................................................................................................................19
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Corporate social responsibility and sustainability
Introduction
The primary object of this literature review is to outline about the role, benefits and key
principles of sustainability practices and corporate social responsibility. CSR is a good and
effective way for the company to evaluate and analyze their impact on the community and
stakeholders. CSR and sustainability may also affect the productivity and effectiveness of the
workers. It is one of the biggest mobile telecommunication companies that provide smart phones
to the customers across the world. The role and key principles of corporate social responsibility
and sustainability in the context of Nokia have been explained in the task. Here is also discussion
about the business operations and functions of Nokia that helps the company to increase the sales
volume and operating income in the market. At the end, some suggestions have been represented
to improve and encourage sustainability practices and CSR.
Nokia is a mobile telecommunication Corporation that was originated in 1865 (Nokia, 2018).
The company is well known as the player of the telecommunications industry show an
impressive and attractive history of adapting to market shifts. The firm develops and builds
ample of mobile products of alarming similarity (Nokia, 2018). Corporate social responsibility
and sustainability provide access to investment and funding opportunities and along with this, it
also helps making unique and dynamic decisions in the competitive market. The company has
approx six business groups with operations in China, Europe, Asia Pacific, Latin America, North
America and the Middle East and Africa. Nokia employed approx 103,000 employees at the end
of 2017 (Nokia, 2018). The primary motive of the company is to provide unique and dynamic
smart phones to the customers at reasonable prices. The vision of Nokia is to uplift and enhance
the operating income and profitability by rendering innovative products to the customers in a
large extent. The firm makes policies and strategies to protect the interest of stakeholders and
provide value and worth to them. Effective leadership team is appointed by the firm to provide
assistance and guidance to the employees.
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Corporate social responsibility and sustainability
Literature review on key principles of sustainability practices and CSR
Sustainability practices and CSR play a significant role in each and every company to attain
desired goals and objectives effectively. Dahlsrud (2008), defines that CSR is the ongoing
assurance by business to treat morally and contribute to fiscal and social growth while improving
and enhancing the excellence of life of the labor force and their families and community in a
large extent (Dahlsrud, 2008). It is analyzed that corporate social responsibility is becoming an
integral and effective part of the company therefore the company needs to enhance the CSR
activities and practices for managing the value of wealth creation to community (Turker, 2009).
According to Carroll (2008), CSR is an organizations responsibility for the effects of its
activities, practices and decisions on the environment and community as well. It is analyzed that
the most ordinary and effective strategy is incorporating the principles and values of CSR and
environmental sustainability in their business models. It is stated by Bowen (2013), corporate
social responsibility is the capability of communities to decide or affect those decisions that
directly and indirectly affect the business activities and environment. CSR is a broad term used
to describe and explain a company’s efforts to enhance and improve community in some way.
Furthermore, CSR is significant and vital for the companies, employees and nonprofits alike
(Bowen, 2013). The corporate responsibility depends on the individuals working in the specific
organizations perceiving and working towards the business case. The key principles of corporate
social responsibility are discussed below.
 Esteem for human rights
 Respect for the differences of views.
 Promote diversity and there should not be any discrimination among the people.
 Make and enhance social contribution.
 Enter into e dialogue.
 Creativity, vision and self realization.
 Collaboration, cooperation and fair dealings.
 Feedback and reviews from the community.
 Positive or favorable value added.
 Long term social and economic development and expansion.
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Corporate social responsibility and sustainability
Crane and Matten (2016), defines that sustainability is a vital and significant part of the
organizations to meet the needs and wants of the customers. Sustainability is a strategy to
minimize or reduce negative social and environmental impacts and ensure that future generations
will have sufficient resources to attain their needs and requirements. According to Benn,
Edwards and Williams (2014), sustainability is a awareness that each entity is surrounded by
stakeholders. Furthermore, sustainability is responsibility for the impact that the firm exerts on
its atmosphere in business and social terms (Linnenluecke and Griffiths, 2010). In other words,
sustainability is skilled positioning of the firm in the economic reality taking account of the
economic and social challenges, threats, risks and environmental opportunities. The five
principles of sustainability are elaborated below.
 Living with environmental limits
 Attaining a sustainable economy
 Encouraging and improving good governance
 Using or utilizing sound science responsibly
 Ensuring a strong, healthy and society.
It is noted that corporate social responsibility and sustainability are significant and vital tool for
the company to provide wealth and value to the stakeholders. The three level of sustainability
include economic dimension, ecological dimension and social dimension. Aside this,
sustainability and corporate social responsibility also boost and build innovations and morale
among the workers in the workplace. It also provides tax benefits and further sustainability
reduces energy related costs. Sustainability improves and enhances company’s bottom line
(Welford, 2016).
Critical analysis and case study
Sustainability and CSR practices at Nokia
After the various analysis, it is noted that sustainability and corporate social responsibility are
very high agenda at Nokia. The CSR practices which are operated and managed at Nokia have
been detailed below.
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