The Strategic Importance of CSR and its Driving Forces for Businesses

This report examines the role of Corporate Social Responsibility (CSR) in business, emphasizing its driving forces and strategic importance. The report discusses the five key drivers of CSR: the power of the brand, globalization, ecological sustainability, increased affluence, and communication. It highlights the importance of these factors in shaping business operations and ensuring long-term success. The report also delves into the significance of ecological sustainability, including its impact on the environment and the need for businesses to adopt responsible practices. It underscores the role of CSR in shaping a company's image, fostering consumer trust, and achieving sustainability. The report also stresses the importance of communication for businesses to keep their customers informed. Overall, the report provides a comprehensive overview of CSR and its driving forces, illustrating its significance in today's business landscape.

Running head: MULTI SECTOR 1
Multi Sector
Name
Institution

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Introduction
Companies are applying the corporate social responsibility to achieve a balance of social,
economic, and environmental imperatives. At the same time, organizations ensure that they
address stakeholders' and shareholders' expectations. A well-implemented corporate social
responsibility concept brings any competitive advantage to an organization. This essay will
briefly explain the five CSR and have an in-depth analysis of one CRS among the five.
The first driver is power of a brand. For a firm to maintain its reputation, it should have
an honest CSR which depends on public perception. The second driver is globalization.
Globalization has had several impacts such as increased power and wealth of multinational
companies, especially in developing nations. The third strategic driver is ecological
sustainability. This driver aims to reduce any effects that can damage the environment. The
ecological CSR activities may aim at energy use, emissions, waters use, and eco-friendly office
or business travel policies. The fourth driver is increased affluence. This is concerned with
security and stable work which does not exist when basics needs are in question.
The fifth CSR is communication. This refers to the free flow of information as a driver
of CSR is important since it allows people to know about what is happening around the globe.
The information is useful to consumers as it allows them to access all the information concerning
the product. The information is useful when purchasing products that re similar since they can
choose after analyzing the product with the best CSR. Therefore, applying communication
strategy is important in generating positive consumer behavior and attitude. For example, a
company that does not have a good marketing strategy incorporated with its CSR may not be

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successful. This is because communication is important for the company’s image, reputation, and
brands that exist within the framework of its corporate culture.
Ecological sustainability is the most important of all the drivers of CSR. Ecological
sustainability is concerned with waste, pollution, climate change, recycling, and reduce
depletion.it is necessary for companies to protect future availability of resources. I have read and
seen companies that do not manage their waste. For instance, the water bottling industries in
some countries are still harming the environment. Plastic is hazardous to the environment since it
is non-biodegradable. When you walk on the beach, you cannot get 10 steps without being
encountered with plastics. The plastics are hazardous to marine life. Once they get in conduct
with the plastics, they get stuck in the plastics which may cause breathing problems leading to
death. Therefore, firms need to be ecologically responsible for their activities. This will assist
them to have long term access to resources.
Conclusion
The five strategic drivers which include increased affluence, ecological sustainability,
globalization, the power of the brand, and communication are essential for promoting CSR.
Strategic factors such as communication and ecological sustainability are important for the
success of an organization. Having a free flow of information assists the consumers and the
public to know which product has the best CSR.

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References
Back, L. (2020). The Five Driving Forces of CSR: Can You Name a Sixth?. Retrieved 17 April
2020, from https://www.triplepundit.com/story/2011/five-driving-forces-csr-can-you-
name-sixth/77676
Danbar, E. (2020). Corporate Social Responsibility and Sustainability | Learning to Give.
Retrieved 17 April 2020, from https://www.learningtogive.org/resources/corporate-
social-responsibility-and-sustainability