Managing Across Borders Assignment Solved

Managing
across Borders

EXECUTIVE SUMMARY
This assignment, report explained the importance of Corporate social responsibility. This
concludes its essential and importance for a company which provide welfare for society.
Employees of company are motivated by adopting CSR initiatives. Also, CSR activities helps in
building goodwill for company in business environment.

Table of Contents
EXECUTIVE SUMMARY ............................................................................................................2
INTRODUCTION ..........................................................................................................................4
MAIN BODY ..................................................................................................................................4
Meaning of Corporate Social Responsibility (CSR)...................................................................4
Published Standards for CSR .....................................................................................................4
Core Drivers for CSR .................................................................................................................5
Benefits of CSR ..........................................................................................................................5
Role of Corporate Social Responsibility in today's world..........................................................5
Examples of companies doing CSR ...........................................................................................6
CONCLUSION ...............................................................................................................................7
REFERENCES ...............................................................................................................................8

INTRODUCTION
Corporate social responsibility activities is self regulating business model, which helps an
organisation to be socially responsible towards stakeholders, social welfare, and organization. If
a company practises the CSR activities, then management of company focussing and dealing
with activities in conscious of way and giving vast impact, as they are dealing with different
aspects of society such as legal, social, environmental and economic. The following report has a
discussion on importance of CSR within a company.
MAIN BODY
Meaning of Corporate Social Responsibility (CSR).
CSR is defined as an evolving business practise that incorporates sustainable
development into business model of a company. This has a positive impact on economic, social
and environment factors. CSR helps in improving image of company and building brand and this
also helps in motivating employees as well as owner of the company. A business is part of
society and it is responsibility of owners to work in such a way so that are appreciated by people
for doing good for society. The way in which a company behaves affects a lot of people as well
as shareholders. Thus, an organisation is responsible for performing operations within a society
(Ali, Frynas, and Mahmood, 2017). If a company is making profits it is important for them to
get connected to several fair treatment programs for employees and fundamental friendly
methods for sustainable environment. The company must participate in discussions associated
with social ethical dilemmas,etc. There are some key factors that plays an essential role in
system of CSR such as state, firms, academic institutions, labour, foreign actors and local NGOs.
Published Standards for CSR
The International Organisation for Standardisation (ISO) provided a set of voluntary
standards in the year 2010. This was developed for helping companies to implement CSR. This
set of standard provides guidance as quality of corporate social responsibility is more qualitative.
This standard clarifies what is the CSR and it helps an organisation to interpret the CSR
principles into effective and efficient manner.

Core Drivers for CSR
Every company has rationale for Corporate social responsibility as it is about developing
the global economic system which sustain in competitive market, where labour, communities and
market are also built. The core drivers of CSR are mentioned below- Enlightenment of Self Interest – This is an important core driver for CSR in a company.
This includes creation of cohesive society, sustainable global economy and synergy of
ethics. This consists of various factors of business like market, labour and communities to
function in an appropriate manner. Social Investment – If a business is operating successfully in market then it is important
to contribute in social capital and social infrastructure (Schäfer, 2016.). This helps in
building good image of brand.
 Trust – There is low rating of trust of business in perception of public. People of society
expects that company can be more accountable or more open and prepared for publicity
reporting on the performance in social and environmental arenas.
Benefits of CSR
Corporate Social Responsibility in an organisation which deals in various social activities
which are beneficial for the society. As both, Public and government are fully aware of need and
importance of CSR activities as well as its requirement for the corporations for conducting social
beneficial activities.
Role of Corporate Social Responsibility in today's world
CSR is a trending topic in business environment. This is a term used for describing how a
company is working for improving it's community. There are various ways by which companies
can demonstrate CSR such as employee volunteering, donations, implementation of
environmental friendly processes (Grayson and Hodges, 2017). Organisations which are
continuously demonstrating their commitment to CSR activities which are focusing on
initiating, and able to recognise their ability for helping their community and performing on that
knowledge. It is concluded from a survey that more than 55% of consumers are buying products
from company that is socially responsible. There are following four major benefits of CSR listed
below -

Satisfaction OF Employees – This is a way by which a company treats and handle with
social community, which reflects, how the management of company are treating their employees.
Individuals who gets respected and support at his workplace, gives more productivity in his
work. People who are involved in community acts as brand ambassadors. If employees are more
engaged and invested in the organisation, they are more productive. According to a survey,
companies with highly engaged workers have 20% more business profitability.
Improve in brand image – There is digital era in today's business environment and this
demonstrates that CSR is gaining exposure. The brand reputation of a company is benefited by
doing good for society. Customers feel good and satisfied as they purchase its products and
services from organisations which are helping social communities.
Increase in customer loyalty – Customers are more loyal towards brands in which
corporate values align with personal values. According to Forbes, millennials prefer to do
business activities with companies and brand which focuses on giving pro-social messages to
society. Ethical business standards and sustainable manufacturing methods (Liang, and
Renneboog, 2017). Different CSR programs work for showcasing the corporate values. They
also helps in demonstrating team work, community engagement and community involvement.
Increased creativity – CSR activities helps in encouraging employees of the company to
do their work effectively. The social involvement helps employees to get motivated and search
for creative ideas. Employees give new innovative ideas regarding their products and services as
well as about their internal processes of business organization. They can also innovate new
problem solving solutions.
Examples of companies doing CSR
Johnson and Johnson – This company is a global company that is involved in selling of
baby products. This company has focused on minimising impact on planets for three decades.
This company has purchased the energy supplier in Texas Panhandle that has helped in reducing
pollution as well as helps in renewable electricity and economical alternative to electricity.
Google – This business organization owned by Sundar Pichai has earned highest CSR
score for their data centre which has used 50% less energy than other in the world. This company
has also started renewable energy projects of around $1 billion.
Coca Cola – The massive fleet or huge product delivery in trucks of Coca cola has
contributed approximately 3.7 million metric tons of greenhouse gases in to the whole world

(Petrenko, and Et. Al., 2016). This company has made changes into their supply chain
management practise of their products and services including investment in new fuelled trucks.
CONCLUSION
From the above report, it is analysed that Corporate social responsibility plays an vital
role in developing image of business organization in society. It is responsibility of the company
to perform welfare activities for society. The CSR activities done by a company help in building
stronger relationship between employee and business corporation. By doing CSR activities, the
motivation of employees as well as employers can be boosted. A commitment to CSR for
company is no longer optional. Organisations have to understand the ssneed of CSR and it's
affect on employee engagement, productivity, increased sales, customer loyalty, brand awareness
and turnover rate. If companies are involved in different CSR initiatives then they can grab the
effective opportunity for business organization which helps in showcasing core values and
focuses on creating trust among customers and employees.

REFERENCES
Books and Journals
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.
Grayson, D. and Hodges, A., 2017. Corporate social opportunity!: Seven steps to make
corporate social responsibility work for your business. Routledge.
Hopkins, M., 2016. The planetary bargain: corporate social responsibility comes of age.
Springer.
Liang, H. and Renneboog, L., 2017. On the foundations of corporate social responsibility. The
Journal of Finance, 72(2), pp.853-910.
Petrenko, O. V. and Et. Al., 2016. Corporate social responsibility or CEO narcissism? CSR
motivations and organizational performance. Strategic Management Journal, 37(2),
pp.262-279.
Schäfer, H., 2016. 26 Corporate Social Responsibility Rating. A Handbook of Corporate
Governance and Social Responsibility, p.449.