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Reflection of Corporate Social Responsibility

   

Added on  2020-10-05

7 Pages1751 Words151 Views
Individual Report and Reflection(FIRST PART)

Table of ContentsINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Presenting the sustainable approach to a business strategy....................................................1Different approaches to CSR..................................................................................................2CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5

INTRODUCTIONCorporate Social Responsibility is the strategy that provide benefits to society. Reportbased upon different organization such as TESCO, Marks and Spencer, Starbucks and Tatawho deal in different markets. Report main aim is to describe the importance of sustainabilityand CSR on different types of business. Report presents the application of sustainableapproach to a business with strategic planning and CSR challenges. MAIN BODYPresenting the sustainable approach to a business strategySustainability is a process that help to maintain sudden change in an ecology whichfurther includes exploitation of resources, position of technological development and thechanges of an institution that further helps to meet out the needs of human. Sustainability is themovement that leads to a social change in order to provide benefit to society. For example,TESCO also received a sustainability reward. Being the largest retailer in a world, it alsobecame the first corporate in order to create a carbon reduction target. Therefore, in 2006, italso achieved 41% reduction in carbon intensity in order to improve the energy and refrigerationefficiency and contributes their part for the welfare of an environment. On the other side,TESCO also develop the strategy and implement it by 2030 that all the stores' electricity will berenewable sourced and it saves 2.4 million tonnes carbon (TESCO's sustainability strategy,2018). Another example is Marks and Spencer, such that it develop the approaches to productsustainability and the company has many stakeholders or partners in order to make theproducts of a firm more sustainable. Further, the quoted firm also make their productspackaging widely recyclable and as a result firm introduced Plan A which provide the linkbetween the activities such as taking out the fats from a food (Epstein, 2018). Not only big firmcontributes their share for sustainability but small business firm also trying to establish theirstronger standards in order to raise the sustainability practices, but they face many challengesas well. There are many SME who usually concern is related to cost and ROI, while it is quiteimportant for them to understand the reduction of carbon and for this reason, they have tomeasure the energy, water consumption as well as waste in the terms of cost saving. Besidethis, it is to be recommended to SMEs to engage all stakeholder such as customers, suppliersand employees and through better communication, the firm can easily achieve its sustainabilitypractices (Kaklauskas and et.al., 2018). 1

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