Corporate Social Responsibility: Challenges and Strategies
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Added on  2022/12/30
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This report discusses the challenges faced by companies in implementing corporate social responsibility (CSR) and explores the strategies to overcome them. It focuses on Tesco Plc, a multinational retail company, and its efforts to address CSR issues. The report also examines the impact of code of conduct and professional support on CSR initiatives.
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Table of Contents INTRODUCTION..........................................................................................................................3 PART 1............................................................................................................................................3 Issue or challenge chosen............................................................................................................3 Code of conduct which assist in resolving it...............................................................................4 Support from professional body..................................................................................................4 Impact of code of conduct and support on the issue...................................................................5 PART 2............................................................................................................................................5 Continuous personal development plan......................................................................................5 CONCLUSION...............................................................................................................................6 REFERENCES................................................................................................................................7 APPENDICES.................................................................................................................................8 Continuous personal development plan......................................................................................8
INTRODUCTION There are many ethical issues which is faced by the companies in their modern era. The ethical issues involves gender bias, economic injustice, racial prejudice and many other.The companiesworkingintheglobalenvironmentfacesthesecommonissues.Theglobal environment is one such think where the businesses are very much affected which involves international interactions and the uncontrollable local which influence the operations of the companies (Yin, 2017). The organisation chosen for this report is Tesco Plc, a retail based multinational company which was established in the year 1919. it deals in groceries and general merchandise retailer. This report shall cover the ethical issue or challenge faced by the company, code of conduct which assist in resolving it, support from professional bodies and impact of support and code of conduct on the issue. Further it will have a continuous personal development plan. PART 1 Issue or challenge chosen. Corporate social responsibility is the concept of management where the organisations integrate environmental and social concerns within their business operations and the interactions with the stakeholders(Dura and Driga, 2017). The CSR helps the organisations to build the brand identity and good will as it showcases the social responsibility of the companies. The activities or programs of the CSR may boost the morale of the workforce and lead them towards the greater productivity. CSR is the new idea where the companies incorporate new strategies to deal with the environmental and social concerns and plays a responsible role in the country. Tesco is one such organisation which faces the challenges of corporate social responsibility. The issue of CSR affects the corporate reputation and brand image of the companies. The organisations must have such business strategies in their organisation which can coordinate with the expectations of the society(Karmasin and Apfelthaler, 2017). Tesco is being affected by this issue in the early years when this concept came into existence. It has established a CSR committee which is entrusted withtheroletoensurethattheorganisationpaysufficientattentiontothecommunity responsibilities. The company works for the CSR strategies in order to meet the customer expectation.
The company has taken this issue positively by implementing healthier recipes in the food. It has cut down the sugar by 5% every year in their soft drinksand also put healthier snacks on the checkout rather than high calorie products. It has also reacted negatively to the CSR as the company is under pressure to implement the strategies of CSR in their organisation. The organisation Tesco believes that CSR contributes to their brand image so it satisfy the requirements of it. For instance, the company makes the efforts to promote healthy food by offering free fruit to children in its large stores but due to pressure if cost, these fruits are available only in large stores and not in each of the shop. Also the company Tesco have received the worst rating for its policy of using toxic chemical in the electronic products and as a part of CSR strategy it has pledge for the zero discharge of the hazardous chemicals but it did not includedelectronicsinitandincludedonlytextile,agricultureandleather(Frynasand Yamahaki, 2019). Code of conduct which assist in resolving it. The companies Act of UK deals with the CSR where it provides that CSR is a voluntary action which has to be taken by the companies so that they can make the world a better place to live in and address the impact on society. The code of conduct of company for dealing with the issues of CSR involves Animal welfare policy, animal testing where it does not support the testing on the animals for the household or cosmetic product. It has also removed the genetic modifications from its all brand products and increased the non genetic modifications where it is planning to launch the largest organic range. Itscodeof conduct also involves approaches for climate change where it is planning to bring zero carbon business by 2050, to bring green products by 2020 and many other(Park, Meglio and Schriber, 2019). These code of conduct helps in improving the company's good will and makes a great brand identity. The community is becoming a better place to live in where it promotes zero carbon business. Support from professional body. The Institute of Corporate Responsibility and Sustainability (ICRS) is aimed to develop and support professionalism in the CSR by establishing the code of conduct, and standards. This professional body is supported by many large companies like IBM and Marks & Spencer. It creates the learning and development opportunities . The aim of this body is to support the
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peopleandorganisationtobecomebrilliantintheirCorporatesocialresponsibilityand sustainability work. It advice the people and companies to grapple with the issues of CSR. This professional body support Tesco in dealing with the issues of CSR by advising on its working and how it can implement its strategies for promoting corporate social responsibility. The company is also supported by the professional accountants who implement the standards and rules set outby the professional body and focus on past rather than future and present which help in reporting environmental and social issues. Impact of code of conduct and support on the issue. The code of conduct and the professional body helps in eradicating the issues of CSR and support the companies to bring such strategies which fulfil their environmental and social concerns. The positive impact of these code of conduct and professional body is that it helps the company to bring such strategies which helps in fulfilling their obligations towards society but the negative impact can be that it put pressure on the companies to implement it irrespective of their rise in cost or degrading the profitability(Loosemore and Lim, 2018). From the viewpoint of community, these code of conduct and professional body makes the organisation responsible for taking care of the society and environment but these standards and rules may result in high cost for the companies which affect the price of the products. PART 2 Continuous personal development plan. In Appendices
CONCLUSION It is concluded from the above report that the corporate social responsibility is one of the major concern which the companies are facing nowadays. Tesco has been working hard to eradicate this issue. It has brought many strategies to implement the obligations of CSR so that it can build its brand identity and reputation. It implement such strategies as it is likely to rise the customers expectation and help companies to gain loyal customers. The company law regulate thecorporatesocialresponsibilityandTescohasitscodeofconductwhichhelpsin implementing such strategies. The institute of corporate social responsibility is a professional body which support and guide the organisation to deal with the issue.
REFERENCES Books and Journals Dura, C. and Driga, I., 2017. The impact of multinational companies from Romania on increasingthelevelofcorporatesocialresponsibilityawareness.Contemporary Economics.11(1). pp.45-67. Frynas, J.G. and Yamahaki, C., 2019. Corporate social responsibility: An outline of key concepts, trends, and theories. InPractising CSR in the Middle East(pp. 11-37). Palgrave Macmillan, Cham. Karmasin,M.andApfelthaler,G.,2017.Integratedcorporatesocialresponsibility communication: A global and cross-cultural perspective. InHandbook of integrated CSR communication(pp. 237-250). Springer, Cham. Loosemore, M. and Lim, B.T.H., 2018. Mapping corporate social responsibility strategies in the construction and engineering industry.Construction management and economics.36(2). pp.67-82. Park, K.M., Meglio, O. and Schriber, S., 2019. Building a global corporate social responsibility programviamergersandacquisitions:Amanagerialframework.Business Horizons.62(3). pp.395-407. Yin, J., 2017. Institutional drivers for corporate social responsibility in an emerging economy: A mixed-method study of Chinese business executives.Business & society.56(5). pp.672- 704.
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APPENDICES Continuous personal development plan Area of learningReflection of learningFuture implications Corporate social responsibilityThe concept of CSR has been very interesting as it helps in two ways, one of it is that it helpsthecompaniesin building the brand reputation andalsohelpsthein improving the society and the nature.Ihavelearntthe importance of CSR from both company'sperspectiveand from the view point of society. Asnotedfromthepointof viewofcompany,Ihave learnedthatCSRhelpsin meetingthecustomer expectationandhelpsin building the loyalty customer baseandfromsociety's viewpoint, I have learned that it helps insocial welfare. I have also learned the impact of not implementing the strategy ofCSRasitmayresultin negative impact.Tesco is the correct company whose study helpedmeinlearningthe conceptandimportanceof Thisstudywillhelpmein futuretomeetthecorporate social responsibilities easily as I have learned this concept in detailandalsoidentifiedits advantages. It is a two way advantageousconceptwhich will help me in meeting the customerexpectationinthe future.Iwillimplementthe strategies relating to corporate socialresponsibilitiesinmy working so that I can create the brand identity and goodwill.
corporatesocial responsibilities. Animal welfareFromthisconcept,Ihave learnedtheimportanceof animalwelfareandhowit mustbeimplicatedinthe business.Ihaveseenthe negativeimpactofanimal testingandIambecoming ready to stop this practice. I also learned the importance of animal welfare from the point of view of society. This concept will help me in stopping the animal testing and workforthewelfareofthe animals.Iwilltrytobuild some policies which will focus on animal welfare. Also I will try to implement some rules and regulations in my working which will strictly adhere to the animal welfare and their protection so that they can live peacefully in the environment.