(solution) Assignment : Corporate Social responsibility
Added on 2020-06-06
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Corporate Socialresponsibility
Table of ContentsINTRODUCTION...........................................................................................................................................3TASK 1..........................................................................................................................................................31.1Explanation of CSR..............................................................................................................................31.2Background and changing attitude towards CSR................................................................................41.3Regulatory framework of CSR.............................................................................................................41.4Environmental issues in CSR...............................................................................................................51.5Economic and Political issues in CSR...................................................................................................61.6Social and community issues in CSR...................................................................................................7TASK 2..........................................................................................................................................................72.1 Benefits of CSR to the employees......................................................................................................72.2 Analysis of impact of CSR on the supply chain management.............................................................82.3 How policy of CSR impacts on business.............................................................................................92.5 Conflicts that can occur.....................................................................................................................9Project 2....................................................................................................................................................10TASK 1........................................................................................................................................................103.1 CSR policy of a sports manufacturer................................................................................................103.2 Extent of voluntarism in CSR policy.................................................................................................11TASK 2........................................................................................................................................................113.3 Recommendation of changes..........................................................................................................11TASK 3........................................................................................................................................................133.4 Paper for senior management team ...............................................................................................13CONCLUSION.............................................................................................................................................13
INTRODUCTIONCorporate social responsibility can be considered as an approach that is beingused in business for the contribution to the sustainable development (Cheng, Ioannou andSerafeim, 2014). This is done by providing various benefits and advantages such as social,economic and environmental as well to all the partners including the stakeholders as well. Inbusiness as well, this approach can contribute to various factors such as sustainable development,which means the utilization of resources in such a way that it can stay preserved for the futuregeneration as well so that they can also take the benefits, which the current generation is takingfrom them. It also helps in delivering various social, economical and environmental benefits forall the involved stakeholders.TASK 1Explanation of CSRCSR refers to the corporate social responsibility which means the conscience of the corporate. Various topics are covered in this aspect such as human rights, health and safety etc. It can also be considered as a form of self regulation integrated in a business model. The process involves various short term costs that may not provide benefits to the company but can ensure the environmental and social change. Different people have their different concepts over it, as some think it as an oxymoron, some as a distraction , specially it is according to the lawful pursuit of profits. There are various initiatives and benchmarks of theCSR which are discussed as under :The Global Reporting Initiative (GRI), which offers a way of presenting information relating to CSR activities;The SA 8000 standard, created bySocial Accountability International(SAI), which takes into account the principles established by theInternational Labour Organization(ILO);The OHSAS standard, which is a system for managing occupational health, hygiene and safety;Scoring systems for socially responsible investing (SRI)
These are the benchmarks and initiatives of the corporate social responsibility that can help the business in achieving various positive outcomes in a shorter and a faster rate.Background and changing attitude towards CSRAs there was necessary spending on the corporate social responsibility, it acts as a piece of legislation. It depends on the number of problems increasing on the pubic and environmental concerns. When considering the changing attitude towards CSR, it is essential to understand the fact that in 1960, an organization for increasing the economic corporate was developed in order to understand all the necessary rules and regulations , with which their focus was the achievement of economic growth that can stay stable and sustainable as well. Along with it, they focused on increasing employment and the control over finances as well. After a few years, CSR was started used conventionally. Various strategies have been used such as OECD’s etc. which can be helpful in stimulating the act of National treatment and compliment the foreign investment review. Then, in 1985, another international strategy was developed in order to have a more stable economy that can help in maximizing the rate of economy of the world and help it from removing from various issues, either socially, economically or politically along with the poverty issues as well. Change in economic conditions also leads to the attitude of people in a change towards the corporate social responsibility. The businesses these days act quite more sensitive because of the issues they have to face in communities along with their field activities. A narrow representation in front of people is observed as the profits and advantages only but in reality, it is beyond the imagination.It considers all the facts and figures people face while interacting with each other. Some face communication issues while some face confidence issues (Aguinis and Glavas, 2012). The more and more growing awareness of the businesses can gain a competitive advantage over this but for developing the confidence level between the customers, it can be done by the help of corporate social responsibility only. The people, consumers pays attention to the quality and service of the product but along with it, they also check the overall production rate of the
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