Importance of CSR for Royal Mail

Corporate Social Responsibility (CSR) is crucial for the growth and development of Royal Mail. It helps in employee retention, brand image development, and attracting more consumers. This report explores the importance of CSR for the company, defines corporate governance and CSR, discusses the history of corporate governance in the UK, and evaluates Archie Carroll's Pyramid of CSR.

Evaluate the importance
of CSR for the Royal
Mail

Table of Contents
INTRODUCTION...........................................................................................................................3
Evaluation of importance of Corporate Social Responsibility (CSR) for the company-.................3
Define Corporate Governance and Corporate Social Responsibility (CSR)-..............................3
History of Corporate Governance in the UK with examples-......................................................4
Importance of CSR for organizations with particular emphasis on the company-......................4
Evaluations of Archie Carroll's Pyramid of CSR - .........................................................................5
CONCLUSION................................................................................................................................6

INTRODUCTION
Corporate Social Responsibility is very important for the Royal Mail. The Royal Mail can
raise their business with the help of the CSR activities. The employee retention can be gained by
company easily and thus annual turnover of employees can be raised. Company can develop
their brand image among the consumer and attract more and more consumers towards the
company's product and services.
Royal Mail Group Plc is the postal service and courier organization in United Kingdom.
The company is formed in 1516. It provides the delivery services and mail collection services
across United Kingdom. The above report includes definition of Corporate Governance and
Corporate Social Responsibility (CSR). The explanation to brief history of Corporate
Governance in United Kingdom. The study carried forward with importance of CSR for
company with particularly emphasis on Royal Mail. The report ends with the explanations of
Archie Carroll's Pyramid of CSR
Evaluation of importance of Corporate Social Responsibility (CSR) for the
company-
Define Corporate Governance and Corporate Social Responsibility (CSR)-
Corporate governance is set of processes, rules or laws by which any business can
controlled, regulated and operated. It also includes external and internal factor which affects the
company's interests for stakeholders, concluding customers, management, shareholders,
government regulators and suppliers. Board of directors of company is responsible for
developing framework for corporate governance which the best line up conducts for business
with its aims and objectives.
Corporate Social Responsibility is when organization operates in social and ethical way
and in future also deals with social and environmental impacts (Gond and et.al., 2017). It is
consideration of human rights, community, society and environment in which business activity is
conducted. It renders an opportunity to company for working towards betterment of the society
and developing it as the better place for enjoying and living. Companies are not legally bounded
by government to have a contribution in the CSR but it should be followed by the company as it
is the good practice. It renders better opportunity for company to work for society's betterment.

History of Corporate Governance in the UK with examples-
The “revolution” has started in early 1990s with Cadbury report on financial aspects of
the corporate governance, which was being attached as code of best practice. It was aimed for
listed companies and looking mainly on standards of corporate ethics and behaviour. The
“Cadbury Code” was adopted by Stock Exchange and City as benchmark for well boardroom
practices. In 1998 Combined Code of Corporate Governance was conducted which was further
renamed as the UK Corporate Governance Code, whose latest version will release on September
2012. Turnbull Guidance on Internal Control in 1999, Stewardship Code in 2010 and in 2013
Companies Act 2006 it was issued in which Strategic Report and Director 's Report Regulations
are conducted (Su and et.al., 2016). Further in 2014, the new guidance is being issued on Internal
Control, Risk Management and Going Concern Basis of Accounting. The revision of UK
Corporate Governance is being taken by FRC. This revision are being performed in every two
years. Executive remuneration, auditor rotation and diversity with regards to experience and
skills along with the gender and thus it has created challenges for FTSE 350. The broads must
take this as challenge along with as opportunities as well for considering it as strategy and future
proof for the company for ever-changing environment of business.
Importance of CSR for organizations with particular emphasis on the company-
The Corporate Social Responsibility is important for the Royal Mail. As the sustainable
and social responsible company, it also helps employees of Royal Mail to perform their work and
responsibilities in the sustainable manner. The company can develop ethical labour practices so
that they could provide competitive high salary to employees, compensation packages of high
amount by CSR. By developing the ethical code of practice Royal Mail so that satisfaction level
of employee can be raised and thus employees can be retained for long term (Claire, 2017). So
the labour turnover can be reduced by practising various practices of motivating and encouraging
employees. The brand loyalty and recognition of Royal Mail can be raised and awareness among
customers. As organizations are committed to ethical and social practices if this news spread into
marketplace thus more and more consumers are attracted towards the company. The public a
social image of company can be raised by their contribution in the CSR activity. Company can
reduce the costing by using this so that they can use sustainable practices in their company's
operational and functional activities.

Evaluations of Archie Carroll's Pyramid of CSR -
Archie Carroll's model is the easy framework and pyramid that helps to argue how and
why organization can meet their social responsibility. There are four kinds of social
responsibilities which consists of total CSR that are- economic, legal, ethical and philanthropic.
It can be explained below-
Economic Responsibilities-
It is responsibility of Royal Mail for being profitable so by this they can provide Return
On Investment to their owners and shareholders, be creating job in UK and for contributing in
important services and products to society (Ali, Frynas and Mahmood, 2017). The Economic
responsibility for searching most efficient way for running business and innovating their product
and services marketing. This will be helpful for Royal Mail in raising revenues.
Legal Responsibilities-
Royal Mail should ensures that their practices for business and operations are legal.
Company is mandate by regulations and laws so that consumer's are safeguarded by company
who had huge trust on organization' product and services. The Royal Mail must follow laws and
regulations an if it will be not followed by company then they could be penalised for that and
further they had to shut down their business for illegal practices.
Ethical Responsibilities-
The Royal Mail should follow the ethical responsibilities that include consumption,
managing waste and recycling (Wickert, Scherer and Spence, 2016). The other ethical
responsibilities is to advertise for not forcing their consumers to purchase their services and
treating their employees well. Minimum safety and minimum wage to the employees with extra
benefits will also given by company to their employees are incentives, rewards, insurance etc.,
Royal Mail also further invest in maintaining their company as safe and clean workplace.
Philanthropic Responsibilities-
This responsibility refers welfare of the human beings and spreading the company's
goodwill. The Royal Mail donates the some amount of money to welfare associations and
charitable trusts. It is responsibility of organization to render back what they have taken from
society so that further society can be benefited by the business activities and operations (Aguinis
and Glavas, 2019). The Royal mail can become good corporate citizen so that they can profit
society and the people in it up-to the great extent. This can be done by including various welfare

services in their business activities. This is helpful for company in raising the organization's
profit and revenue and along with consumer's attraction towards the company.
CONCLUSION
From the above study it has been concluded that the Corporate Social Responsibility
plays a major role in the Royal Mail's growth and development. The company can retain their
employees for long term thus the productivity of company can be raised directly. They can also
contribute to the technical and social responsibilities of the society so that this is helpful for
company in gaining he consumer's attraction towards the company's product and services. They
can reduce the costing by developing sustainable practices in the company for further operation
activities. Company's brand image can also be developed in the eye of consumer and thus they
can have trust of their consumer on their company.

REFERENCES
Books and Journals
Aguinis, H. and Glavas, A., 2019. On corporate social responsibility, sensemaking, and the
search for meaningfulness through work. Journal of Management. 45(3). pp.1057-1086.
Ali, W., Frynas, J.G. and Mahmood, Z., 2017. Determinants of corporate social responsibility
(CSR) disclosure in developed and developing countries: A literature review. Corporate
Social Responsibility and Environmental Management. 24(4). pp.273-294.
Claire, M.D., 2017. Human rights: The emerging norm of corporate social responsibility. In
Human Rights and Corporations (pp. 149-178). Routledge.
Gond, J.P and et.al., 2017. The psychological microfoundations of corporate social
responsibility: A person‐centric systematic review. Journal of Organizational Behavior.
38(2). pp.225-246.
Su, W and et.al., 2016. The signaling effect of corporate social responsibility in emerging
economies. Journal of business Ethics. 134(3). pp.479-491.
Wickert, C., Scherer, A.G. and Spence, L.J., 2016. Walking and talking corporate social
responsibility: Implications of firm size and organizational cost. Journal of Management
Studies. 53(7). pp.1169-1196.