CSR Practices and Challenges: A Business Environment Report

This report delves into the significance of Corporate Social Responsibility (CSR) in contemporary business environments. It highlights the necessity for businesses to embrace CSR, emphasizing its positive impact on stakeholders, including staff well-being, environmental protection, and community engagement. The report outlines the benefits of CSR, such as improved market image, increased consumer bases, and the ability to attract and retain talent in competitive labor markets. It provides examples of companies like ASDA and Coca-Cola that actively incorporate CSR into their business strategies. Furthermore, the report addresses challenges in implementing CSR, including lack of employee participation, competitive labor markets, and lack of consensus on CSR practices, offering a comprehensive overview of CSR's role and complexities in the business world.

ASSESSMENT

Table of Contents
 INTRODUCTION
 Businesses must practice Corporate social responsibility
 Challenges during practice CSR within current competitive business environment
 CONCLUSION
 REFERENCES

INTRODUCTION
 Corporate social responsibility promotes business responsibility vision to the broad range of
stakeholders, besides investors and shareholders.
 Key areas of concern are well being of staff and environmental protection, civil and community in
general.
 The current presentation is based upon CSR, it explains why business must practices CSR and
including challenges of doing so within recent competitive business environment.

Businesses must practice Corporate social responsibility
CSR-
 In current socially conscious environment, customers and workers place a premium on performing for and
spending their money with organizations that prioritize corporate social responsibility.
 CSR is considered as the most important business practices that incorporates sustainable development and
improvement into firm's business structure.
 It has positive influence on environmental, social and economic factors

CONT..
 Businesses should practice CSR because it helps to improve their market image rather than before and increase consumers
bases as well.
 91% of international customers expect companies to operate accountably to address environmental and other problems.
 To gain the attention of people and operate business operations all around the world, organizations must practice corporate
social responsibility as it consist with many benefits that businesses would gain and use in order to sustain for longer period
within specific sector effectively

CONT…
 For example, ASDA company participate in CSR practices, they believe that supporting sustainability will
help to make more affordable goods and services for consumers, while helping people to save the world
where they live for long.
 It also supports tough ethos of this practice which can be viewed by their employment and career
opportunities in communities, take of charity and health initiatives as well as firm also help for consumers
with fewer prices.

CONTI..
 Furthermore, firms must practice social accountability by donating money, services and quality products to social
causes as well as non-profits.
 Number of consumers and existing workers in organizations are appreciating ethical and honest practices, they
seek to work with those companies who work in CSR.
 In context of it, all the firms must practices corporate social responsibility because it is beneficial for them in
term of profit, productivity, brand reputation and competitive edge.

CONTI…
 Along with this few more examples available that define why business practices CRS and how.
 To overcome gender differences and improve the female situation in market, Coca cola
organization develop their CSR program known as 5x20, its goal of employing 5 Million women
in developing nations by 2020 in distribution and bottling roles.
 This goal benefits female in communities surrounding company manufacturing plants and also
benefits societies as whole as the firm aims to cater better access to health care and better
education to their workers.

Challenges during practice CSR within current competitive
business environment
There are different issues and challenges exist that affect while practice corporate social responsibility in
competitive environment.
Lack of employees participation in activities of CSR-
 Corporate social responsibility, in term is combination of societies and corporate accountability in together.
 Lack of staff participation further aggravated by lack of communication between companies and its staff at grass
roots, that effect procedure.

CONT..
Competitive labour markets-
 Employees are increasingly looking beyond benefits and pay checks, and seeking out employers
whose operating practices and philosophies match their own principles.
 In order to retain and hire skilled as well as talented applicants, organizations are being pressured
to improve their working conditions.

CONT..
Lack of consensus on implementing CSR practices-
 There are lack of consensus amongst local agencies regarding CSR practices, it affects
while doing so, often outcomes in duplication of functions by corporate firms in areas of
their intervention.
 This results in competitive spirit between local implementing firm more than building
collaborative methods on practices

CONCLUSION
 From above analysis, it has been summarized that businesses practice CSR and give their effective
contribution by following and improving work ethics.
 By treating staff ethically and fairly, organizations demonstrate their social accountability, this is
specially true of businesses that operate in global locations with employment and labour laws that
differ from those in UK.