Exploring Strategic Corporate Social Responsibility
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The provided content discusses the concept of strategic corporate social responsibility (CSR) and its impact on a company's performance. It highlights several studies that examine the link between CSR and financial performance, as well as the potential benefits of CSR in terms of stakeholder engagement and environmental sustainability. The articles also explore the role of stakeholders in driving CSR efforts and the need for companies to adopt a strategic approach to CSR to achieve sustainable competitive advantage. Additionally, the content touches on the importance of continuous improvement through the PDCA cycle, which is a proven framework for achieving this goal.
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Strategic Corporate Social
Responsibility
2
Responsibility
2
TABLE OF CONTENTS
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
AC 1.1 Arguments for CSR related with internal and external objectives......................................3
AC 1.2 Impact of CSR strategies on internal and external stakeholders.........................................4
AC 1.3 Review of company's strategies for alignment with CSR strategies...................................5
AC 1.4 Corporate social responsibility strategy that supports company's objectives.....................6
Task 2....................................................................................................................................................7
AC 2.1 Company’s value chain for alignment with CSR strategy..................................................7
AC 2.2 Methods for agreement and engagement with all stakeholders for CSR strategy..............8
AC 2.3 Implementation plan for CSR strategy................................................................................9
Task 3..................................................................................................................................................10
AC 3.1 Internal report measurement for evaluating the impact of CSR strategy..........................10
AC 3.2 External reporting measurements to evaluate impact of CSR strategy.............................10
AC 3.3 Methods to refresh and reinforce CSR strategy................................................................11
CONCLUSION..................................................................................................................................12
REFERENCES...................................................................................................................................14
INTRODUCTION................................................................................................................................3
TASK 1.................................................................................................................................................3
AC 1.1 Arguments for CSR related with internal and external objectives......................................3
AC 1.2 Impact of CSR strategies on internal and external stakeholders.........................................4
AC 1.3 Review of company's strategies for alignment with CSR strategies...................................5
AC 1.4 Corporate social responsibility strategy that supports company's objectives.....................6
Task 2....................................................................................................................................................7
AC 2.1 Company’s value chain for alignment with CSR strategy..................................................7
AC 2.2 Methods for agreement and engagement with all stakeholders for CSR strategy..............8
AC 2.3 Implementation plan for CSR strategy................................................................................9
Task 3..................................................................................................................................................10
AC 3.1 Internal report measurement for evaluating the impact of CSR strategy..........................10
AC 3.2 External reporting measurements to evaluate impact of CSR strategy.............................10
AC 3.3 Methods to refresh and reinforce CSR strategy................................................................11
CONCLUSION..................................................................................................................................12
REFERENCES...................................................................................................................................14
INTRODUCTION
With the rapidly changing expectations and demands of consumers, employees and
regulators, becoming the best in world is a tough job. Business organisations are now also expected
to be the best in the world i.e. to socially and environmentally responsible, sustainable and ethical.
Business owners are required to know the way of creating shared value and managing stakeholders
along with employees and the community in which they are operating (Guzman and Becker Olsen,
2010). This is important because of the financial, moral and relational reasons. Strategic corporate
social responsibility is about integrating the strategies, core activities and competitive advantage
with social responsibilities of company. This report is prepared to understand the background of
strategic CSR in context of Tesco. The report will include arguments for CSR along with methods
for agreement and involvement with all stakeholders.
TASK 1
AC 1.1 Arguments for CSR related with internal and external objectives
Corporate social responsibility refers to those business practices which include initiatives
that benefits the society. It consists of a wide range of tactics consisting of offering a part of
company's profits to charity to implementing “greener” business operations. Below are the
following arguments that comply with internal and external objectives of cited firm, Tesco:
Environmental Efforts: If the organisation focuses on environmental issues and make sure
to minimise the damages that it is giving to natural resources then external objectives are
achieved in relation with the corporate social responsibility.
Philanthropy: When Tesco will donate to the local and national charities, it will be making
a positive impact on the external shareholders. This in turn will help in accomplishing the
external objectives. The firm is having adequate resources which can benefit charities and
local community programs (Werther and Chandler, 2010).
Ethical labour practices: By treating the employees in a fair, just and ethical manner, cited
firm can demonstrate its corporate social responsibility. It will benefit the company to a
large extent as if the employees who are internal stakeholders will be happy and satisfied
then it will reflect their productivity and performance.
Volunteering: Attending volunteer events and programs tell a lot about a company's
sincerity. By doing good work without expecting anything in return, Tesco will be able to
show their concern for particular issues which will support it in achieving the external
objectives.
4
With the rapidly changing expectations and demands of consumers, employees and
regulators, becoming the best in world is a tough job. Business organisations are now also expected
to be the best in the world i.e. to socially and environmentally responsible, sustainable and ethical.
Business owners are required to know the way of creating shared value and managing stakeholders
along with employees and the community in which they are operating (Guzman and Becker Olsen,
2010). This is important because of the financial, moral and relational reasons. Strategic corporate
social responsibility is about integrating the strategies, core activities and competitive advantage
with social responsibilities of company. This report is prepared to understand the background of
strategic CSR in context of Tesco. The report will include arguments for CSR along with methods
for agreement and involvement with all stakeholders.
TASK 1
AC 1.1 Arguments for CSR related with internal and external objectives
Corporate social responsibility refers to those business practices which include initiatives
that benefits the society. It consists of a wide range of tactics consisting of offering a part of
company's profits to charity to implementing “greener” business operations. Below are the
following arguments that comply with internal and external objectives of cited firm, Tesco:
Environmental Efforts: If the organisation focuses on environmental issues and make sure
to minimise the damages that it is giving to natural resources then external objectives are
achieved in relation with the corporate social responsibility.
Philanthropy: When Tesco will donate to the local and national charities, it will be making
a positive impact on the external shareholders. This in turn will help in accomplishing the
external objectives. The firm is having adequate resources which can benefit charities and
local community programs (Werther and Chandler, 2010).
Ethical labour practices: By treating the employees in a fair, just and ethical manner, cited
firm can demonstrate its corporate social responsibility. It will benefit the company to a
large extent as if the employees who are internal stakeholders will be happy and satisfied
then it will reflect their productivity and performance.
Volunteering: Attending volunteer events and programs tell a lot about a company's
sincerity. By doing good work without expecting anything in return, Tesco will be able to
show their concern for particular issues which will support it in achieving the external
objectives.
4
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Undertaking corporate social responsible initiatives is truly a win-win situation for Tesco.
This will not only appeal to socially concerned consumers and employees but it will also make a
real difference in the corporate world. As the consumers are becoming smarter about global issues
and trends, it is important for organisation to give attention to corporate social responsibility. By
doing this, company will receive positive responses (Orlitzky Siegel and Waldman, 2011).
Aforementioned initiatives when engaged in the current business processes can increase
brand value of Tesco. Corporate strategy which has ethical governance and employee motivation as
the prime objectives can help in supporting these initiatives. Moreover, the company has to develop
its corporate strategy which has more concern towards people and environment for attaining
sustainability. Hence, the proposed corporate strategy is to develop a technique which can grab
more attention of potential customers. The investment of resources for crafting business portfolio
and developing more brand value is the corporate strategy of company.
AC 1.2 Impact of CSR strategies on internal and external stakeholders
If Tesco does not have honesty and integrity then it would not be able to build strong
relationships with any of its stakeholders. Stakeholders lay down the foundation for success and
failure of any business enterprise. They have interests, rights or ownership in a company and its
activities. The internal or primary stakeholder of cited firm are suppliers, employees and
shareholders. Every one of them has a concern that how the firm is performing and interacting with
them. These stakeholders can get benefitted by the success and growth of cited organisation also get
harmed by its errors (McWilliams and Siegel, 2010). Secondary or external stakeholders are also
important as they can take action which can harm or support the firm. These include government,
unions, non-governmental organisations, activities, political action groups and media.
5
This will not only appeal to socially concerned consumers and employees but it will also make a
real difference in the corporate world. As the consumers are becoming smarter about global issues
and trends, it is important for organisation to give attention to corporate social responsibility. By
doing this, company will receive positive responses (Orlitzky Siegel and Waldman, 2011).
Aforementioned initiatives when engaged in the current business processes can increase
brand value of Tesco. Corporate strategy which has ethical governance and employee motivation as
the prime objectives can help in supporting these initiatives. Moreover, the company has to develop
its corporate strategy which has more concern towards people and environment for attaining
sustainability. Hence, the proposed corporate strategy is to develop a technique which can grab
more attention of potential customers. The investment of resources for crafting business portfolio
and developing more brand value is the corporate strategy of company.
AC 1.2 Impact of CSR strategies on internal and external stakeholders
If Tesco does not have honesty and integrity then it would not be able to build strong
relationships with any of its stakeholders. Stakeholders lay down the foundation for success and
failure of any business enterprise. They have interests, rights or ownership in a company and its
activities. The internal or primary stakeholder of cited firm are suppliers, employees and
shareholders. Every one of them has a concern that how the firm is performing and interacting with
them. These stakeholders can get benefitted by the success and growth of cited organisation also get
harmed by its errors (McWilliams and Siegel, 2010). Secondary or external stakeholders are also
important as they can take action which can harm or support the firm. These include government,
unions, non-governmental organisations, activities, political action groups and media.
5
Organisation should adopt the model of corporate social responsibility to serve their
stakeholders in an ethical and social manner. If the cited organisation develops ethical and social
elements in its operating philosophy and align them in its business model, it will possess a self
regulating mechanism that guides, monitors and assures adherence to law, ethics and norms in the
functioning of business. It ensures the serving of interests to all stakeholders. The motive of being
socially responsible business firm is accomplished when its activities fulfil the expectations and
desires of all its stakeholders (Peloza and Shang, 2011).
There can be primary or secondary expectations for the stakeholders. Primarily, they expect
a return on investment in the shares. Secondary expectation is to add value to their assets. For the
employees, their key concern is getting enough pay scales before work satisfaction. The customers
are concerned more about supply of products and services more than the quality of product. For the
creditors, primary concern is credit worthiness and then security. Quick payment is expected by the
suppliers first and then long term relationships are expected. The government and its organisations
are concerned primarily about compliance to laws and policies and then it is expected to increase
competitiveness. Community is concerned about the safety and security in their regions. After that,
they expect contribution that will benefit them.
For instance, Tesco develops a corporate social responsibility of giving 2% of the total profit
which is acquired by the company every month to the orphanages and old-age homes in UK. This
CSR strategy is considered as a philanthropic approach towards business functioning. Considering
6
Illustration 1: Types of stakeholders
(Source: Hellriegel, Jackson and Slocum, 2009)
stakeholders in an ethical and social manner. If the cited organisation develops ethical and social
elements in its operating philosophy and align them in its business model, it will possess a self
regulating mechanism that guides, monitors and assures adherence to law, ethics and norms in the
functioning of business. It ensures the serving of interests to all stakeholders. The motive of being
socially responsible business firm is accomplished when its activities fulfil the expectations and
desires of all its stakeholders (Peloza and Shang, 2011).
There can be primary or secondary expectations for the stakeholders. Primarily, they expect
a return on investment in the shares. Secondary expectation is to add value to their assets. For the
employees, their key concern is getting enough pay scales before work satisfaction. The customers
are concerned more about supply of products and services more than the quality of product. For the
creditors, primary concern is credit worthiness and then security. Quick payment is expected by the
suppliers first and then long term relationships are expected. The government and its organisations
are concerned primarily about compliance to laws and policies and then it is expected to increase
competitiveness. Community is concerned about the safety and security in their regions. After that,
they expect contribution that will benefit them.
For instance, Tesco develops a corporate social responsibility of giving 2% of the total profit
which is acquired by the company every month to the orphanages and old-age homes in UK. This
CSR strategy is considered as a philanthropic approach towards business functioning. Considering
6
Illustration 1: Types of stakeholders
(Source: Hellriegel, Jackson and Slocum, 2009)
the primary stakeholders, this strategy shall help the company to develop a positive image in eyes of
employees and suppliers. On the other hand, there can be some sort of clashes and oppositions from
shareholders because they might not be willing to share their profits. Hence, a mixed reaction will
be assessed by Tesco after implementation of this CSR strategy. Considering secondary
stakeholders, non-governmental organisations will support firm in this decision. Moreover,
consumers will develop a thinking that their investment in terms of purchase is for good of the
needy people.
AC 1.3 Review of company's strategies for alignment with CSR strategies
To revise the company's strategies aligning with CSR strategies, Mintzberg's developed 5 P's
strategic model to develop them. With the help of following model, Tesco has to revise company's
strategies which is like
Strategy as a plan: Planning is something with which many managers are comfortable. And
it comes naturally in managers. The cited firm can align CSR strategies with planning. Under this,
strategies will be formed as a plan in which some sort of consciously intended course of action and
guideline or a combination of guidelines to handle a situation are there.
Strategy as a ploy: Under this strategy, firm can get better competitors by plotting to disturb,
dissuade, discourage or otherwise impact them. Here, the strategy can be a ploy as well as a plan.
Through this, organisation can make a large impact on its rivals to gain competitive advantage.
Strategy as a pattern: If strategies can be intended as plans or ploys, they can be realised
too. In simple words, defining the strategies as a plan is not adequate. There is a need to define it in
terms of resulting behaviour. Under this, strategy as a pattern has a stream of actions. The definition
of strategy as a plan and pattern are independent on each other (Dhaliwal Tsang and Yang, 2011).
Plans may be unrealised whereas patterns may emerge without preconception. Plans are deliberate
strategies while patterns are realised strategies. By this, cited company can distinguish the intended
strategies where intentions which exist previously are realised and then, emerging strategies where
patterns are developed in the absence of intentions or despite them are realised.
Strategy as a position: Strategy as a position particularly refers to locate the cited firm in an
“environment”. With this definition, strategy becomes the mediating force or a fit between the
organisation and environment i.e. in the context of internal and external.
Strategy as a perspective: Strategies as perspective include not just a selected position but a
deep-rooted way of perceiving the world. Key importance is that strategy is a perspective shared by
members in the organisation by their intentions and or actions (Sekhar Bhattacharyya, 2010).
The corporate strategy and CSR strategy that has been proposed by Tesco are interlinked.
7
employees and suppliers. On the other hand, there can be some sort of clashes and oppositions from
shareholders because they might not be willing to share their profits. Hence, a mixed reaction will
be assessed by Tesco after implementation of this CSR strategy. Considering secondary
stakeholders, non-governmental organisations will support firm in this decision. Moreover,
consumers will develop a thinking that their investment in terms of purchase is for good of the
needy people.
AC 1.3 Review of company's strategies for alignment with CSR strategies
To revise the company's strategies aligning with CSR strategies, Mintzberg's developed 5 P's
strategic model to develop them. With the help of following model, Tesco has to revise company's
strategies which is like
Strategy as a plan: Planning is something with which many managers are comfortable. And
it comes naturally in managers. The cited firm can align CSR strategies with planning. Under this,
strategies will be formed as a plan in which some sort of consciously intended course of action and
guideline or a combination of guidelines to handle a situation are there.
Strategy as a ploy: Under this strategy, firm can get better competitors by plotting to disturb,
dissuade, discourage or otherwise impact them. Here, the strategy can be a ploy as well as a plan.
Through this, organisation can make a large impact on its rivals to gain competitive advantage.
Strategy as a pattern: If strategies can be intended as plans or ploys, they can be realised
too. In simple words, defining the strategies as a plan is not adequate. There is a need to define it in
terms of resulting behaviour. Under this, strategy as a pattern has a stream of actions. The definition
of strategy as a plan and pattern are independent on each other (Dhaliwal Tsang and Yang, 2011).
Plans may be unrealised whereas patterns may emerge without preconception. Plans are deliberate
strategies while patterns are realised strategies. By this, cited company can distinguish the intended
strategies where intentions which exist previously are realised and then, emerging strategies where
patterns are developed in the absence of intentions or despite them are realised.
Strategy as a position: Strategy as a position particularly refers to locate the cited firm in an
“environment”. With this definition, strategy becomes the mediating force or a fit between the
organisation and environment i.e. in the context of internal and external.
Strategy as a perspective: Strategies as perspective include not just a selected position but a
deep-rooted way of perceiving the world. Key importance is that strategy is a perspective shared by
members in the organisation by their intentions and or actions (Sekhar Bhattacharyya, 2010).
The corporate strategy and CSR strategy that has been proposed by Tesco are interlinked.
7
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Corporate strategy aims to increase company's brand value and grab more market share in terms of
customers. The proposal that has been made through CSR strategy helps in acquiring this customer
attention by the good deeds of Tesco. Moreover, a significant advantage is gained by organisation
because of the amalgamation of these two strategies.
AC 1.4 Corporate social responsibility strategy that supports company's objectives
To develop corporate social responsibility strategy, Tesco can follow the following steps:1. Insist on profitability: The top managers in firm have to focus on business value, not on
philanthropy or managing NGO or for marketing purpose. Company needs to think wisely
about the way in which corporate responsibility can help in saving or making money with
meeting challenge to fulfil the needs of society (Michelon Boesso and Kumar, 2013).2. Alignment with key purpose: Core purpose of firm should be the beacon for finding a
valuable CSR strategy. Strategies must be linked with the core purpose of company. An
effective and sustainable strategy relates the customer, society and business and it does not
compromise on these terms.3. Understand customers: Company needs to understand the diversity among customers and
should not draw a picture of them which may be inaccurate. Tesco is required to know its
customers, the way they fall on this spectrum and also, the manner in which these strategies
will change over the life of their products.4. Focus on the right issues: Corporate social responsibility and sustainability apply to a varied
range of issues. The cited firm, Tesco should pay attention on environmental and energy
issues as they are more relevant as compared to the local economic opportunities.5. Use the organisation properly: Company is needed to support the search for value, reinforce
the principles to make corporate strategy effective and profitable as well as to protect it in
initial stages (Aguinis and Glavas, 2012).
6. Other benefits: An effective CSR strategy will help the firm in employee involvement,
innovation and cooperation. Apart from these, the most important benefit is corporate
responsibility changes the views and opinions of cited firm i.e. “them” to “us”.
The aforementioned strategies are aligned with corporate strategy of Tesco. In order to
support the internal and external objectives of firm, following corporate social responsibility has
been proposed:
Developing guidelines reflecting CSR: The individuals who are working for Tesco shall
align their activities according to CSR principles if they are aware about basic guidelines
8
customers. The proposal that has been made through CSR strategy helps in acquiring this customer
attention by the good deeds of Tesco. Moreover, a significant advantage is gained by organisation
because of the amalgamation of these two strategies.
AC 1.4 Corporate social responsibility strategy that supports company's objectives
To develop corporate social responsibility strategy, Tesco can follow the following steps:1. Insist on profitability: The top managers in firm have to focus on business value, not on
philanthropy or managing NGO or for marketing purpose. Company needs to think wisely
about the way in which corporate responsibility can help in saving or making money with
meeting challenge to fulfil the needs of society (Michelon Boesso and Kumar, 2013).2. Alignment with key purpose: Core purpose of firm should be the beacon for finding a
valuable CSR strategy. Strategies must be linked with the core purpose of company. An
effective and sustainable strategy relates the customer, society and business and it does not
compromise on these terms.3. Understand customers: Company needs to understand the diversity among customers and
should not draw a picture of them which may be inaccurate. Tesco is required to know its
customers, the way they fall on this spectrum and also, the manner in which these strategies
will change over the life of their products.4. Focus on the right issues: Corporate social responsibility and sustainability apply to a varied
range of issues. The cited firm, Tesco should pay attention on environmental and energy
issues as they are more relevant as compared to the local economic opportunities.5. Use the organisation properly: Company is needed to support the search for value, reinforce
the principles to make corporate strategy effective and profitable as well as to protect it in
initial stages (Aguinis and Glavas, 2012).
6. Other benefits: An effective CSR strategy will help the firm in employee involvement,
innovation and cooperation. Apart from these, the most important benefit is corporate
responsibility changes the views and opinions of cited firm i.e. “them” to “us”.
The aforementioned strategies are aligned with corporate strategy of Tesco. In order to
support the internal and external objectives of firm, following corporate social responsibility has
been proposed:
Developing guidelines reflecting CSR: The individuals who are working for Tesco shall
align their activities according to CSR principles if they are aware about basic guidelines
8
and regulations. It is possible that collecting all sorts of wastes in one particular bin would
not be an issue for normal people but this has a negative impact over environment. When
guidelines are developed and provided, individuals will be able to correct their actions.
Evaluating the impact of actions: Every strategy that is to be developed and executed must
have some sort of impact over environment. Tesco needs to evaluate this impact and
generate its correlation with CSR. This shall take a step ahead towards sustainability.
Recruitment and selection by using CSR: Enthusiastic, educated and talented individuals
who display support and value for organisation's initiatives and philanthropies are
considered in CSR. The basic corporate social responsibility denotes that Tesco need not
recruit in large quantities but focus on qualities that can take the CSR program way farther
from the vision.
TASK 2
AC 2.1 Company’s value chain for alignment with CSR strategy
Tesco can take Porter's value chain analysis to integrate them with CSR strategy. The
diagram here divides activities into primary and support activities as proposed by Porter:
Primary activities Inbound logistics: It refers to goods obtained from the suppliers of company and to be used
for manufacturing the final product. Operations: Here, raw materials and goods are transformed into the end product. Value is
added to the product in this stage as it shifts through the production line.
9
Illustration 2: Porter's value chain
(Source: Porter's Value Chain 2016)
not be an issue for normal people but this has a negative impact over environment. When
guidelines are developed and provided, individuals will be able to correct their actions.
Evaluating the impact of actions: Every strategy that is to be developed and executed must
have some sort of impact over environment. Tesco needs to evaluate this impact and
generate its correlation with CSR. This shall take a step ahead towards sustainability.
Recruitment and selection by using CSR: Enthusiastic, educated and talented individuals
who display support and value for organisation's initiatives and philanthropies are
considered in CSR. The basic corporate social responsibility denotes that Tesco need not
recruit in large quantities but focus on qualities that can take the CSR program way farther
from the vision.
TASK 2
AC 2.1 Company’s value chain for alignment with CSR strategy
Tesco can take Porter's value chain analysis to integrate them with CSR strategy. The
diagram here divides activities into primary and support activities as proposed by Porter:
Primary activities Inbound logistics: It refers to goods obtained from the suppliers of company and to be used
for manufacturing the final product. Operations: Here, raw materials and goods are transformed into the end product. Value is
added to the product in this stage as it shifts through the production line.
9
Illustration 2: Porter's value chain
(Source: Porter's Value Chain 2016)
Outbound logistics: When the products are manufactured, they are ready to be distributed to
distribution centres, wholesalers, retailers or customers. Distribution of finished goods is
called as outbound logistics. Marketing and sales: Marketing of Tesco has to assure that the product is targeted towards
the right customer group. To establish an effective strategy, marketing mix is used (Thorne
Ferrell and Ferrell, 2010).
Services: The organisation has to provide services to its customers after the product or
service has been sold. This can be done in the form of after sales training, guarantees and
warranties.
Support activities Procurement: This department of Tesco has to source raw material for the cited firm and
gain the best price for doing same. To obtain the best possible quality available for their
budget is the challenge for procurement. Technology development: In today's technological driven environment, the use of technology
is necessary to gain competitive advantage. Human resource management: To achieve success, Tesco has to recruit, train and develop
the right people.
Firm infrastructure: Tesco needs to assure that their finance, legal structure and
management structure would work efficiently. Inefficient infrastructure waste resources, can
impact the reputation of the firm (Du Bhattacharya and Sen, 2010).
The primary and secondary activities of Tesco depict that its strategic intent is to deliver best
in class quality products. Moreover, the value chain depicts that company's current activities are not
exactly aligned with corporate social responsibilities. These analytical details also depict that firm
intends to maximise its profits and stay ahead in competition no matter what the circumstances are.
Hence, when considering alignment with CSR, Tesco lacks certain aspects and need to revise its
strategies.
AC 2.2 Methods for agreement and engagement with all stakeholders for CSR strategy
Engage is only a six letter word but it means a great deal and can make a difference between
success and failure when it comes to firm's sustainability and CSR contributions. If the cited
company, Tesco, follow three simple steps, it will be able to build an effective engagement program.
These steps are elaborated here:
Identify the stakeholders: Many business firms often leave or ignore the important
10
distribution centres, wholesalers, retailers or customers. Distribution of finished goods is
called as outbound logistics. Marketing and sales: Marketing of Tesco has to assure that the product is targeted towards
the right customer group. To establish an effective strategy, marketing mix is used (Thorne
Ferrell and Ferrell, 2010).
Services: The organisation has to provide services to its customers after the product or
service has been sold. This can be done in the form of after sales training, guarantees and
warranties.
Support activities Procurement: This department of Tesco has to source raw material for the cited firm and
gain the best price for doing same. To obtain the best possible quality available for their
budget is the challenge for procurement. Technology development: In today's technological driven environment, the use of technology
is necessary to gain competitive advantage. Human resource management: To achieve success, Tesco has to recruit, train and develop
the right people.
Firm infrastructure: Tesco needs to assure that their finance, legal structure and
management structure would work efficiently. Inefficient infrastructure waste resources, can
impact the reputation of the firm (Du Bhattacharya and Sen, 2010).
The primary and secondary activities of Tesco depict that its strategic intent is to deliver best
in class quality products. Moreover, the value chain depicts that company's current activities are not
exactly aligned with corporate social responsibilities. These analytical details also depict that firm
intends to maximise its profits and stay ahead in competition no matter what the circumstances are.
Hence, when considering alignment with CSR, Tesco lacks certain aspects and need to revise its
strategies.
AC 2.2 Methods for agreement and engagement with all stakeholders for CSR strategy
Engage is only a six letter word but it means a great deal and can make a difference between
success and failure when it comes to firm's sustainability and CSR contributions. If the cited
company, Tesco, follow three simple steps, it will be able to build an effective engagement program.
These steps are elaborated here:
Identify the stakeholders: Many business firms often leave or ignore the important
10
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exercise of stakeholder mapping. It is a procedure of clearly defining the areas of interest of
customers, competitors, industry associations, NGO's, employees, etc. and then, identifying each
category specifically who falls into these areas (Bondy Moon and Matten, 2012). Along with this,
how relevant that stakeholder is to the company is also to assessed.
Develop an issue map: Now, when it is determined that who are the stakeholders and how
important they are, the core issues that will make an impact on the business will be assessed. Simple
steps to develop a map includes determining the list of material issues, overlay the list with
stakeholders and focus on the major geographic spheres of influence. These simple steps will aid in
creating a map that will decide the engagement plan.
Create an engagement plan: The last step in this process is formulating a plan with
detailed time-frames resulting in particular actions. Few points to remember while outlining the
plan are:
Revising the engagement plan regularly throughout the year (it can be on quarterly basis)
Checking the progress against goals on monthly basis
Assuring to identify specific metrics for measuring the progress
Using metrics to assess the effectiveness of efforts.
When implementing these methods for internal stakeholder groups say employees and
shareholder, the engagement plans enlightens various issues and problems which are faced by these
individuals while working in Tesco. The benefits experienced by employees after getting involved
with corporate social responsibility strategy of Tesco, are stated below:
Timely recognition and fulfilment of legitimate needs of employees is guaranteed according
to proposed CSR strategy.
The opportunities to participate and explore other skills and talents increases.
More flexibility towards work is attained.
When Tesco communicates such benefits to this stakeholder groups, their agreement for
proposed strategy will increase. In similar manner, the company needs to communicate maximum
benefits which will be experienced by particular groups of stakeholders so that their probability of
agreeing with a situation increases.
AC 2.3 Implementation plan for CSR strategy
To implement the CSR strategy, following plan is proposed:
11
customers, competitors, industry associations, NGO's, employees, etc. and then, identifying each
category specifically who falls into these areas (Bondy Moon and Matten, 2012). Along with this,
how relevant that stakeholder is to the company is also to assessed.
Develop an issue map: Now, when it is determined that who are the stakeholders and how
important they are, the core issues that will make an impact on the business will be assessed. Simple
steps to develop a map includes determining the list of material issues, overlay the list with
stakeholders and focus on the major geographic spheres of influence. These simple steps will aid in
creating a map that will decide the engagement plan.
Create an engagement plan: The last step in this process is formulating a plan with
detailed time-frames resulting in particular actions. Few points to remember while outlining the
plan are:
Revising the engagement plan regularly throughout the year (it can be on quarterly basis)
Checking the progress against goals on monthly basis
Assuring to identify specific metrics for measuring the progress
Using metrics to assess the effectiveness of efforts.
When implementing these methods for internal stakeholder groups say employees and
shareholder, the engagement plans enlightens various issues and problems which are faced by these
individuals while working in Tesco. The benefits experienced by employees after getting involved
with corporate social responsibility strategy of Tesco, are stated below:
Timely recognition and fulfilment of legitimate needs of employees is guaranteed according
to proposed CSR strategy.
The opportunities to participate and explore other skills and talents increases.
More flexibility towards work is attained.
When Tesco communicates such benefits to this stakeholder groups, their agreement for
proposed strategy will increase. In similar manner, the company needs to communicate maximum
benefits which will be experienced by particular groups of stakeholders so that their probability of
agreeing with a situation increases.
AC 2.3 Implementation plan for CSR strategy
To implement the CSR strategy, following plan is proposed:
11
Develop a vision: The plan will start with an awareness of what the organisation is and what
does it believe as a business firm. It has to answer questions about core beliefs, business
strategies and models of success. The programmes developed for incorporating CSR should
be in alignment with the developed vision. Don't just talk a good game: Now, the cited organisation has to take a moment to find out
the way in which programs matches well with the present products and processes. When the
firm is looking for socially responsible programs, it has to strive to promote its business
along with the business practices. Launch strong and monitor intensely: After designing CSR strategies, spreading awareness
and implementing the initiatives effectively as well as creating ongoing procedures for
monitoring to check if the initiatives are working well or not. Monitoring the success of
CSR strategies and to assess that to what extent it aligns with the established business
practices is really important (Arendt and Brettel, 2010). Consider customer's needs and preferences: Assessing CSR strategies in context of fulfilling
the needs of customers is significant. Most of the people support ethical business practices.
Cited company has to keep customers’ needs and desires in mind while promoting or
adopting expensive programs.
Use CSR to enhance talent recruitment: By practising and implementing CSR programs, the
Tesco will be able to attract enthusiastic, educated and talented employees who value the
CSR initiatives and philosophies. When the organisation is filled with people who encourage
and engage themselves with firm's CSR programs and who sincerely believe in its values, it
is very easy to align, maintain and promote such programs into routine operations.
TASK 3
AC 3.1 Internal report measurement for evaluating the impact of CSR strategy
There are various approaches which Tesco can use for specific measurement of the impact
of corporate social responsibility strategy. Balance scorecard and EFQM model helps the
organisation in doing strategic planning and management. Measurement system of organisation is
strong as it affects the activities of workers wand leaders (Arvidsson, 2010). As traditional approach
focuses only on financial measure, new approaches help the organisation to focus on all initiatives
which are good for sustainable growth of organisation.
Balance Scorecard
12
does it believe as a business firm. It has to answer questions about core beliefs, business
strategies and models of success. The programmes developed for incorporating CSR should
be in alignment with the developed vision. Don't just talk a good game: Now, the cited organisation has to take a moment to find out
the way in which programs matches well with the present products and processes. When the
firm is looking for socially responsible programs, it has to strive to promote its business
along with the business practices. Launch strong and monitor intensely: After designing CSR strategies, spreading awareness
and implementing the initiatives effectively as well as creating ongoing procedures for
monitoring to check if the initiatives are working well or not. Monitoring the success of
CSR strategies and to assess that to what extent it aligns with the established business
practices is really important (Arendt and Brettel, 2010). Consider customer's needs and preferences: Assessing CSR strategies in context of fulfilling
the needs of customers is significant. Most of the people support ethical business practices.
Cited company has to keep customers’ needs and desires in mind while promoting or
adopting expensive programs.
Use CSR to enhance talent recruitment: By practising and implementing CSR programs, the
Tesco will be able to attract enthusiastic, educated and talented employees who value the
CSR initiatives and philosophies. When the organisation is filled with people who encourage
and engage themselves with firm's CSR programs and who sincerely believe in its values, it
is very easy to align, maintain and promote such programs into routine operations.
TASK 3
AC 3.1 Internal report measurement for evaluating the impact of CSR strategy
There are various approaches which Tesco can use for specific measurement of the impact
of corporate social responsibility strategy. Balance scorecard and EFQM model helps the
organisation in doing strategic planning and management. Measurement system of organisation is
strong as it affects the activities of workers wand leaders (Arvidsson, 2010). As traditional approach
focuses only on financial measure, new approaches help the organisation to focus on all initiatives
which are good for sustainable growth of organisation.
Balance Scorecard
12
Organisation realises that it has some corporate social responsibility towards society which
is useful for Tesco to gain sustainable growth. For this, company uses balance scorecard system that
identifies various stakeholders of organisation and the way in which it can satisfy the needs of
various stakeholders. This is used to measure company’s performance and strategy. Balance
scorecard measures the organisation’s capacity towards social responsibility. Tesco has good
physical infrastructure and culture which helps organisation to fulfil the needs of customers.
Management converts the resources into outputs efficiently so that it can be sold at nominal price.
Balance scorecard helps the organisation in evaluating its performance as it acts as a dashboard of
performance measurement.
EFQM framework
To support social responsibility, EFQM framework helps the organisation to take into
consideration CSR. As Tesco is a reputed organisation, it uses highly ethical approaches. It is
transparent and accountable to all its stakeholders and try to satisfy them by fulfilling their needs. In
present and in the future, it promotes sustainable growth by satisfying the society. EFQM model
helps organisation to control various risks. It provides opportunities to public for employment and
by introducing projects which are beneficial for the society. It comes with innovative product which
satisfies the demand of customers (Lai Chiu Yang and Pai, 2010). These measurement tools help the
organisation to measure all its positive and negative impacts. This firm uses fairly and try to convert
negative impacts into opportunities. This increases the goodwill and growth of organisation in the
market.
These two standard approaches for measuring the impact of CSR strategy are appropriate for
company. Balanced scorecard helps Tesco to identify and realise the steps which have been taken
for managing specific needs of stakeholders. On the contrary, EFQM framework is a risk control
measure. It helps in meeting stakeholder requirements by promoting steady growth and reducing
company risks. The balanced scorecard brings in performance evaluation while EFQM framework
initiates a path that can be adapted for increasing growth opportunities. Corporate strategy can be
benefited with Balanced scorecard but CSR standards can be accomplished if EFQM framework is
chosen.
AC 3.2 External reporting measurements to evaluate the impact of CSR strategyExternal measures
to evaluate the impact of CSR strategies are explained as below:
Market place measures and statistics:
Tesco can use marketplace measurements such as customers’ feedback, reviews and
opinions of customers to analyse the impact of their CSR strategies. Market conditions and
13
is useful for Tesco to gain sustainable growth. For this, company uses balance scorecard system that
identifies various stakeholders of organisation and the way in which it can satisfy the needs of
various stakeholders. This is used to measure company’s performance and strategy. Balance
scorecard measures the organisation’s capacity towards social responsibility. Tesco has good
physical infrastructure and culture which helps organisation to fulfil the needs of customers.
Management converts the resources into outputs efficiently so that it can be sold at nominal price.
Balance scorecard helps the organisation in evaluating its performance as it acts as a dashboard of
performance measurement.
EFQM framework
To support social responsibility, EFQM framework helps the organisation to take into
consideration CSR. As Tesco is a reputed organisation, it uses highly ethical approaches. It is
transparent and accountable to all its stakeholders and try to satisfy them by fulfilling their needs. In
present and in the future, it promotes sustainable growth by satisfying the society. EFQM model
helps organisation to control various risks. It provides opportunities to public for employment and
by introducing projects which are beneficial for the society. It comes with innovative product which
satisfies the demand of customers (Lai Chiu Yang and Pai, 2010). These measurement tools help the
organisation to measure all its positive and negative impacts. This firm uses fairly and try to convert
negative impacts into opportunities. This increases the goodwill and growth of organisation in the
market.
These two standard approaches for measuring the impact of CSR strategy are appropriate for
company. Balanced scorecard helps Tesco to identify and realise the steps which have been taken
for managing specific needs of stakeholders. On the contrary, EFQM framework is a risk control
measure. It helps in meeting stakeholder requirements by promoting steady growth and reducing
company risks. The balanced scorecard brings in performance evaluation while EFQM framework
initiates a path that can be adapted for increasing growth opportunities. Corporate strategy can be
benefited with Balanced scorecard but CSR standards can be accomplished if EFQM framework is
chosen.
AC 3.2 External reporting measurements to evaluate the impact of CSR strategyExternal measures
to evaluate the impact of CSR strategies are explained as below:
Market place measures and statistics:
Tesco can use marketplace measurements such as customers’ feedback, reviews and
opinions of customers to analyse the impact of their CSR strategies. Market conditions and
13
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fluctuations will also be helpful in gaining information about the effectiveness of corporate social
responsibility strategies. If company is performing well in terms of social responsibility and market
is reaping benefits from it, then CSR strategies are successful. But if it is not so, then the firm has to
revise its strategies and work upon it (Bear Rahman and Post, 2010). The statistical data consisting
of graphs and charts will be showing the way in which CSR strategies are making a huge impact on
society and nature.
Employment data:
Data regarding employees will reflect the implications of CSR strategies in cited
organisation. When company has a good image and reputation in the corporate world, then more
people will get attracted. This will develop a competent, talented, skilled and knowledgeable
workforce. This will show the way in which CSR strategies and programs make an impact on the
firm internally. People who are concerned about the social and environmental issues will head
towards the firm and will try to associate with it. This in turn will enhance the goodwill of company
which will add 'one more feather in its cap'.
Benchmarking and national statistics:
Tesco can also evaluate the effects of its corporate social responsibility strategies by
comparing it with the benchmarks and standards. Many business enterprises pay a great attention on
their CSR activities and consider it as an obligation. This sets a benchmark in the field of CSR. All
other firms whether they are rivals also, look up to those benchmarks and try to reach there. This
can be an effective method to evaluate the impact of CSR strategies and review their efficiency.
National statistics can also be a good option for the assessment of CSR strategies. The national data
regarding CSR activities of particular industry can help in identifying where the firm is standing in
whole industry (Green and Peloza, 2011). It will aid in making rectifications or changes in strategies
so that the next time, it will be more effective and beneficial for the society, industry and nation.
The measures which can be used for guaging success and understanding the future strategies
include Benchmarking and gathering current statistics of market structure. These aspects shall help
in reducing the impact which is often felt on outputs. Tesco has to inculcate these strategic
approaches so that necessary improvements and modifications can be implemented correctly.
AC 3.3 Methods to refresh and reinforce CSR strategy
To refresh and reinforce CSR strategy, Deming cycle is applied in the cited company. It is a
four stage change management model which is used by company for continuous improvement.
Below are the stages of process:
14
responsibility strategies. If company is performing well in terms of social responsibility and market
is reaping benefits from it, then CSR strategies are successful. But if it is not so, then the firm has to
revise its strategies and work upon it (Bear Rahman and Post, 2010). The statistical data consisting
of graphs and charts will be showing the way in which CSR strategies are making a huge impact on
society and nature.
Employment data:
Data regarding employees will reflect the implications of CSR strategies in cited
organisation. When company has a good image and reputation in the corporate world, then more
people will get attracted. This will develop a competent, talented, skilled and knowledgeable
workforce. This will show the way in which CSR strategies and programs make an impact on the
firm internally. People who are concerned about the social and environmental issues will head
towards the firm and will try to associate with it. This in turn will enhance the goodwill of company
which will add 'one more feather in its cap'.
Benchmarking and national statistics:
Tesco can also evaluate the effects of its corporate social responsibility strategies by
comparing it with the benchmarks and standards. Many business enterprises pay a great attention on
their CSR activities and consider it as an obligation. This sets a benchmark in the field of CSR. All
other firms whether they are rivals also, look up to those benchmarks and try to reach there. This
can be an effective method to evaluate the impact of CSR strategies and review their efficiency.
National statistics can also be a good option for the assessment of CSR strategies. The national data
regarding CSR activities of particular industry can help in identifying where the firm is standing in
whole industry (Green and Peloza, 2011). It will aid in making rectifications or changes in strategies
so that the next time, it will be more effective and beneficial for the society, industry and nation.
The measures which can be used for guaging success and understanding the future strategies
include Benchmarking and gathering current statistics of market structure. These aspects shall help
in reducing the impact which is often felt on outputs. Tesco has to inculcate these strategic
approaches so that necessary improvements and modifications can be implemented correctly.
AC 3.3 Methods to refresh and reinforce CSR strategy
To refresh and reinforce CSR strategy, Deming cycle is applied in the cited company. It is a
four stage change management model which is used by company for continuous improvement.
Below are the stages of process:
14
Plan an improvement: At this step, it is to be decided that what is to be done and that is
also, in the best way. This goal can be accomplished by revising and studying the present work
process and available data. It involves examination of current method or the problem area.
Do the planned activity: Now, at this step, improvement plan is implemented by actually
doing it. At this stage, the plan is actually tried out in the operation. The people responsible are
required to be trained and equipped with the resources needed to implement the tasks and activities.
This stage contains a mini PDCA cycle as the issues in implementation are discovered and solved
and it is seen if the implementation of plan is producing desired outcomes (Kim Park and Wier,
2012).
Check the results: The new implemented plan is assessed if it has resulted in the expected
performance improvement. New data is analysed and the results are measured to check whether
implementation of the plan is providing desired results or not. Change management methodologies
and techniques at this step consists of data check sheets, control charts and key performance
indicators.
Act on the results: Standardise and document the work and new processes if the
implementation was successful. If it is not so, learn from trial, adjust where required to tackle
problems and formalise the new knowledge before starting the PDCA cycle over again (Jackson and
Apostolakou, 2010).
The above proposed method helps in separating a complex situation into different segments
which are strategically resolved. A clarity is obtained regarding the situation or event which is to be
planned. On the contrary, it is considered to be more time consuming lengthy when quick results are
perceived. Hence, Tesco can use this measure only if there is sufficient time to visualise necessary
15
Illustration 3: PDCA cycle
(Source: Deming Cycle - PDCA Cycle - Shewhart Cycle. Proven
for Continuous Improvement, 2016)
also, in the best way. This goal can be accomplished by revising and studying the present work
process and available data. It involves examination of current method or the problem area.
Do the planned activity: Now, at this step, improvement plan is implemented by actually
doing it. At this stage, the plan is actually tried out in the operation. The people responsible are
required to be trained and equipped with the resources needed to implement the tasks and activities.
This stage contains a mini PDCA cycle as the issues in implementation are discovered and solved
and it is seen if the implementation of plan is producing desired outcomes (Kim Park and Wier,
2012).
Check the results: The new implemented plan is assessed if it has resulted in the expected
performance improvement. New data is analysed and the results are measured to check whether
implementation of the plan is providing desired results or not. Change management methodologies
and techniques at this step consists of data check sheets, control charts and key performance
indicators.
Act on the results: Standardise and document the work and new processes if the
implementation was successful. If it is not so, learn from trial, adjust where required to tackle
problems and formalise the new knowledge before starting the PDCA cycle over again (Jackson and
Apostolakou, 2010).
The above proposed method helps in separating a complex situation into different segments
which are strategically resolved. A clarity is obtained regarding the situation or event which is to be
planned. On the contrary, it is considered to be more time consuming lengthy when quick results are
perceived. Hence, Tesco can use this measure only if there is sufficient time to visualise necessary
15
Illustration 3: PDCA cycle
(Source: Deming Cycle - PDCA Cycle - Shewhart Cycle. Proven
for Continuous Improvement, 2016)
changes.
CONCLUSION
The above report is prepared on Strategic social responsibility of Tesco. It covers the
arguments for corporate social responsibility by which comply with internal and external
stakeholders. It also reviews company's strategy for aligning with the CSR strategy. Apart from this,
it analyses the value chain alignment with CSR strategy which consists of primary and support
activities. Further, it discusses the implementation plan for CSR strategy and proposes methods for
engaging all stakeholders in it. Moreover, it analyses the internal and external reporting
measurements that evaluate the impact of CSR strategy for cited company. It has been analysed for
the report that it is necessary to evaluate ways to refresh and reinforce the CSR strategy to stay
competitive in the long run. For this, PDCA cycle is applied in the organisation. Apart from that, is
recommended to the firm to apply STEEPLE technique for better evaluation and gain competitive
advantage over others.
16
CONCLUSION
The above report is prepared on Strategic social responsibility of Tesco. It covers the
arguments for corporate social responsibility by which comply with internal and external
stakeholders. It also reviews company's strategy for aligning with the CSR strategy. Apart from this,
it analyses the value chain alignment with CSR strategy which consists of primary and support
activities. Further, it discusses the implementation plan for CSR strategy and proposes methods for
engaging all stakeholders in it. Moreover, it analyses the internal and external reporting
measurements that evaluate the impact of CSR strategy for cited company. It has been analysed for
the report that it is necessary to evaluate ways to refresh and reinforce the CSR strategy to stay
competitive in the long run. For this, PDCA cycle is applied in the organisation. Apart from that, is
recommended to the firm to apply STEEPLE technique for better evaluation and gain competitive
advantage over others.
16
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REFERENCES
Books and Journals
Aguinis, H. and Glavas, A., 2012. What we know and don’t know about corporate social
responsibility a review and research agenda. Journal of management. 38(4). pp.932-968.
Arendt, S. and Brettel, M., 2010. Understanding the influence of corporate social responsibility on
corporate identity, image, and firm performance. Management Decision. 48(10). pp.1469-
1492.
Arvidsson, S., 2010. Communication of corporate social responsibility: A study of the views of
management teams in large companies. Journal of Business Ethics. 96(3). pp.339-354.
Bear, S., Rahman, N. and Post, C., 2010. The impact of board diversity and gender composition on
corporate social responsibility and firm reputation. Journal of Business Ethics. 97(2).
pp.207-221.
Bondy, K., Moon, J. and Matten, D., 2012. An institution of corporate social responsibility (CSR) in
multi-national corporations (MNCs): Form and implications. Journal of Business Ethics.
111(2). pp.281-299.
Dhaliwal, D. S. and et.al., 2011. Voluntary nonfinancial disclosure and the cost of equity capital:
The initiation of corporate social responsibility reporting. The accounting review. 86(1).
pp.59-100.
Du, S., Bhattacharya, C. B. and Sen, S., 2010. Maximizing business returns to corporate social
responsibility (CSR): The role of CSR communication. International Journal of
Management Reviews. 12(1). pp.8-19.
Green, T. and Peloza, J., 2011. How does corporate social responsibility create value for
consumers?. Journal of Consumer Marketing. 28(1). pp.48-56.
Guzman, F. and Becker-Olsen, K., 2010. Strategic corporate social responsibility. Innovative CSR:
From risk management to value creation. pp.196-218.
Ioannou, I. and Serafeim, G., 2010. THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY
ON INVESTMENT RECOMMENDATIONS. In Academy of Management Proceedings. 1.
pp. 1-6.
Jackson, G. and Apostolakou, A., 2010. Corporate social responsibility in Western Europe: an
institutional mirror or substitute?. Journal of Business Ethics. 94(3). pp.371-394.
Kim, Y., Park, M. S. and Wier, B., 2012. Is earnings quality associated with corporate social
responsibility?. The Accounting Review. 87(3). pp.761-796.
Lai, C. S. and et.al., 2010. The effects of corporate social responsibility on brand performance: The
mediating effect of industrial brand equity and corporate reputation. Journal of business
ethics. 95(3). pp.457-469.
McWilliams, A. and Siegel, D. S., 2010. Creating and capturing value: Strategic corporate social
responsibility, resource-based theory, and sustainable competitive advantage. Journal of
Management. p.0149206310385696.
17
Books and Journals
Aguinis, H. and Glavas, A., 2012. What we know and don’t know about corporate social
responsibility a review and research agenda. Journal of management. 38(4). pp.932-968.
Arendt, S. and Brettel, M., 2010. Understanding the influence of corporate social responsibility on
corporate identity, image, and firm performance. Management Decision. 48(10). pp.1469-
1492.
Arvidsson, S., 2010. Communication of corporate social responsibility: A study of the views of
management teams in large companies. Journal of Business Ethics. 96(3). pp.339-354.
Bear, S., Rahman, N. and Post, C., 2010. The impact of board diversity and gender composition on
corporate social responsibility and firm reputation. Journal of Business Ethics. 97(2).
pp.207-221.
Bondy, K., Moon, J. and Matten, D., 2012. An institution of corporate social responsibility (CSR) in
multi-national corporations (MNCs): Form and implications. Journal of Business Ethics.
111(2). pp.281-299.
Dhaliwal, D. S. and et.al., 2011. Voluntary nonfinancial disclosure and the cost of equity capital:
The initiation of corporate social responsibility reporting. The accounting review. 86(1).
pp.59-100.
Du, S., Bhattacharya, C. B. and Sen, S., 2010. Maximizing business returns to corporate social
responsibility (CSR): The role of CSR communication. International Journal of
Management Reviews. 12(1). pp.8-19.
Green, T. and Peloza, J., 2011. How does corporate social responsibility create value for
consumers?. Journal of Consumer Marketing. 28(1). pp.48-56.
Guzman, F. and Becker-Olsen, K., 2010. Strategic corporate social responsibility. Innovative CSR:
From risk management to value creation. pp.196-218.
Ioannou, I. and Serafeim, G., 2010. THE IMPACT OF CORPORATE SOCIAL RESPONSIBILITY
ON INVESTMENT RECOMMENDATIONS. In Academy of Management Proceedings. 1.
pp. 1-6.
Jackson, G. and Apostolakou, A., 2010. Corporate social responsibility in Western Europe: an
institutional mirror or substitute?. Journal of Business Ethics. 94(3). pp.371-394.
Kim, Y., Park, M. S. and Wier, B., 2012. Is earnings quality associated with corporate social
responsibility?. The Accounting Review. 87(3). pp.761-796.
Lai, C. S. and et.al., 2010. The effects of corporate social responsibility on brand performance: The
mediating effect of industrial brand equity and corporate reputation. Journal of business
ethics. 95(3). pp.457-469.
McWilliams, A. and Siegel, D. S., 2010. Creating and capturing value: Strategic corporate social
responsibility, resource-based theory, and sustainable competitive advantage. Journal of
Management. p.0149206310385696.
17
Michelon, G., Boesso, G. and Kumar, K., 2013. Examining the link between strategic corporate
social responsibility and company performance: an analysis of the best corporate citizens.
Corporate Social Responsibility and Environmental Management. 20(2). pp.81-94.
Orlitzky, M., Siegel, D. S. and Waldman, D. A., 2011. Strategic corporate social responsibility and
environmental sustainability. Business & society. 50(1). pp.6-27.
Peloza, J. and Shang, J., 2011. How can corporate social responsibility activities create value for
stakeholders? A systematic review. Journal of the academy of Marketing Science. 39(1).
pp.117-135.
Sekhar Bhattacharyya, S., 2010. Exploring the concept of strategic corporate social responsibility
for an integrated perspective. European Business Review. 22(1). pp.82-101.
Thorne, D. M., Ferrell, O. C. and Ferrell, L., 2010. Business and society: A strategic approach to
social responsibility and ethics. South-Western Cengage Learning.
Werther Jr, W. B. and Chandler, D., 2010. Strategic corporate social responsibility: Stakeholders in
a global environment. Sage Publications.
Online
Deming Cycle - PDCA Cycle - Shewhart Cycle. Proven for Continuous Improvement. 2016.
[Online]. Available through: <http://www.change-management-consultant.com/deming-
cycle.html>. [Accessed on 3rd January, 2017].
Hellriegel, Jackson and Slocum., 2009. Stakeholders and Corporate Social Responsibility. [Online].
Available through: <ttps://totalqualitymanagement.wordpress.com/2009/03/12/stakeholders-
and-corporate-social-responsibility>. [Accessed on 3rd January, 2017].
Porter's Value Chain. 2016. [Online]. Available through:
<http://www.ifm.eng.cam.ac.uk/research/dstools/value-chain>. [Accessed on 3rd January,
2017].
18
social responsibility and company performance: an analysis of the best corporate citizens.
Corporate Social Responsibility and Environmental Management. 20(2). pp.81-94.
Orlitzky, M., Siegel, D. S. and Waldman, D. A., 2011. Strategic corporate social responsibility and
environmental sustainability. Business & society. 50(1). pp.6-27.
Peloza, J. and Shang, J., 2011. How can corporate social responsibility activities create value for
stakeholders? A systematic review. Journal of the academy of Marketing Science. 39(1).
pp.117-135.
Sekhar Bhattacharyya, S., 2010. Exploring the concept of strategic corporate social responsibility
for an integrated perspective. European Business Review. 22(1). pp.82-101.
Thorne, D. M., Ferrell, O. C. and Ferrell, L., 2010. Business and society: A strategic approach to
social responsibility and ethics. South-Western Cengage Learning.
Werther Jr, W. B. and Chandler, D., 2010. Strategic corporate social responsibility: Stakeholders in
a global environment. Sage Publications.
Online
Deming Cycle - PDCA Cycle - Shewhart Cycle. Proven for Continuous Improvement. 2016.
[Online]. Available through: <http://www.change-management-consultant.com/deming-
cycle.html>. [Accessed on 3rd January, 2017].
Hellriegel, Jackson and Slocum., 2009. Stakeholders and Corporate Social Responsibility. [Online].
Available through: <ttps://totalqualitymanagement.wordpress.com/2009/03/12/stakeholders-
and-corporate-social-responsibility>. [Accessed on 3rd January, 2017].
Porter's Value Chain. 2016. [Online]. Available through:
<http://www.ifm.eng.cam.ac.uk/research/dstools/value-chain>. [Accessed on 3rd January,
2017].
18
Table of Contents
19
19
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LIST OF TABLE
20
20
LIST OF FIGURES
21
21
INTRODUCTION
TASK 1
1.1
1.2
1.3
TASK 2
2.1
2.2
2.3
2.4
TASK 3
3.1
3.2
3.3
TASK 4
1.1
1.2
1.3
CONCLUSION
22
TASK 1
1.1
1.2
1.3
TASK 2
2.1
2.2
2.3
2.4
TASK 3
3.1
3.2
3.3
TASK 4
1.1
1.2
1.3
CONCLUSION
22
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REFERENCES
Books and Journals
Online
23
Books and Journals
Online
23
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