University of Suffolk BABS CSR Report: Competitive Advantage

This report provides an overview of Corporate Social Responsibility (CSR), defining it as a crucial business practice focused on environmental, social, and economic welfare to ensure sustainable development. It explores practical examples of CSR implementation, such as initiatives by BMW, Tesla, Toyota, and Hilton, highlighting their contributions to social and environmental causes. The report also addresses the challenges of CSR, including shrinking government roles, transparency issues, and labor market competition. Furthermore, it emphasizes the benefits of CSR, such as improved brand image, enhanced consumer and employee loyalty, better stakeholder relationships, and cost reduction through efficient resource management. The conclusion underscores the importance of CSR in gaining a competitive advantage and achieving market success. The report includes references to scholarly sources supporting the analysis.

Corporate social responsibility

TOC
Introduction
Corporate social responsibilities (CSR)
Practical Examples of CSR
Challenges of CSR
Benefits of CSR to business in gaining competitive advantage
Conclusion
References

Introduction
1. Corporate social responsibility can be defined
as business practice
2. It ensure sustainable development of society,
economy and environment.
3. Current presentation will explain benefit of
CSR practices to business in gaining
competitive advantage.

Corporate social responsibilities (CSR)
1. CSR is the essential business practice
that pay more emphases on environment,
social and economic welfare.
2. This is first concern of business that to
meet expectation of its stakeholders
hence they have to implement such
activities
3. that may support organization in meeting
firm’s goal by fulfilling their corporate
responsibilities.

Practical Examples of CSR
1. There are many firms that are continuously fulfilling
their CSR duties.
2. BMW has decided to help more than 1million poor
people till the end of 2020.
3. Tesla is using real time tailpipe emission method this
helps in keeping environment protected.

Continued
1. Toyota is the well-known leading automobile firm that has worked on labor and human
rights and has helped 2.14% disable people.
2. Toyota has also worked for environmental benefit as it has started working on rain water
collection to control over water wastage and use it in proper manner.
3. Hilton hotel has taken initiative to empower worker as it has arranged ethical training in
which around 1400 managers of Hilton joined.

Challenges of CSR
1. Shrinking government’s role
2. Transparency issue
3. Labor market competition

Continued
1. Many companies find it difficult to manage business operations with CSR activities.
2. As they have to face many challenges in taking such initiatives.
3. Shrinking government’s role: This is the major issue that is faced by firms, as government
has many laws related to resource uses etc.

Continued
1. Labor market competition: Employees now a days leave jobs soon to get salary hike in
other firms.
2. Many leading firms are offering attractive pay to staff members which promote staff
members to join that business.
3. This creates problem for firm to complete their CSR activities.

Benefits of CSR to business in gaining competitive advantage
1. Implementation of CSR
activities is helpful for
companies in sustaining in
market for longer duration.
2. Brand image
3. Enhance loyalty of consumers

Continued
1. Benefits of CSR to business in gaining competitive advantage: Implementation of CSR
activities is helpful for companies in sustaining in market for longer duration.
2. Increase loyalty of employees: One of the most essential CSR activity is to provide equal
wages to all staff members and treat them well.
3. Brand image: This is significant aspect of corporate social responsibilities, if firms fulfill
its CSR duties then it can get benefit of improving its brand image in the market.

Continued
1. Improves relationship with stakeholders: As each firm wants to satisfy its stakeholder, it
always wants that stakeholder retain in firm for longer duration and perform their duties
well.
2. Cost reduction: This is another most important benefit that company can get through
implementing CSR activities, as enterprise works to minimize wastage and utilize natural
resources in most significant manner.
3. Recycling process of Toyota supports organization in minimizing operational and
manufacturing cost. By this way net profit of entity get increased to great extent.