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Human Resource Management & CSR

   

Added on  2021-04-19

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Running head: HUMAN RESOURCE MANAGEMENT Human Resource ManagementName of the StudentName of the UniversityAuthor note
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HUMAN RESOURCE MANAGEMENT1What is shared value and how is it different to CSR? Shared value promises to create socialand economic value simultaneously, is this a utopian goal (are there limits to when this canoccur)Corporate social responsibility is an essential element of all business organization whichhelps to ensure that the business firms are able to taking account of all forms of socialconsequences. Idea of CSR has emerged to deal with ethical issues that are often raised by theoperations of business organization (Porter & Kramer, 2011). One of the major purpose ofimplementing CSR is to ensure that sustainability principles having incorporated in thepractically executed business plans. In order to deal with the issues of controversy between CSRand competitive advantage policy, the idea of business shared value has been incorporated. Themain purpose of incorporating this idea is to ensure that competitive policy of a business firm ismutually dependent upon the value of social responsibilities. In other words it can be said thatcompanies, which are able to follow the principles of CSR and business sustainability canautomatically generate competitive advantage in the society (Porter & Kramer, 2011). There have been several controversies in the past about the actual nature and purpose ofbusiness organization and the contribution of the same to the society. The idea of CSR hastherefore emerged to ensure that the society is positively benefited with the actual outcome ofbusiness operations. The cause of major controversies after introducing the policy of CSR is dueto the fact that most of the companies have to compromise upon their competitive advantagemarketing policies. This ultimately results in financial capital loss, thereby losing the actualpurpose of the business.
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HUMAN RESOURCE MANAGEMENT2It is essential to understand the connection between the social and economic progress inorder to properly implement the principles of shared values in business practice. One of themajor issues of incorporating traditional principles of CSR is due to the fact that they are poorlylinked with the actual practical strategies of business. As the idea of shared values in businesspractice image it help to identify the social opportunities that can be utilized by multinationalcorporations to generate new business ideas in the market (Porter & Kramer, 2006). Cost constraint is considered to be one of the major issue that prevented companies likeToyota, Ford or Volvo to implement the policy of CSR that can ultimately help them to achieveinnovation in business operations and competitive advantage policies. It is important to considerthe relationship between business and society as equal element of corporate growth. This canultimately help to device a new framework and course of action to discover new opportunity ofsocial market expansion. The mechanism of incorporating shared social value in business can include the businessfirm understanding and meeting the social needs by incorporating innovation design in product.For example large scale automobile companies like Toyota and Volvo can incorporate CSRstrategies by manufacturing advanced car machines that emit minimum amount of pollution inthe environment. Nevertheless, it is also essential to ensure that the cost of environment friendlyvehicles is in par with that of the traditional motor vehicles. Productivity can also be redefined in shared values by incorporating new value chain.This can include improvement in both quantity and quality along with the cost of manufacturing.Proper utilization of natural resources is also required in order to minimize the misuse of thesame. It is important to mention in the context that many of the business firms faced controversyof over exploiting natural resources. These can include pollution of the local environment from
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