CSR Implementation: Challenges & Benefits - Suffolk Presentation

This presentation provides an overview of Corporate Social Responsibility (CSR) and its importance for businesses. It explains how CSR involves managing business operations to positively influence society, covering sustainability, ethics, and social impact. The presentation highlights the benefits of CSR, such as strengthening relationships with workers, enhancing consumer loyalty, and attracting talent. It also addresses the challenges of implementing CSR, including lack of resources, strategic vision, and high regulatory standards. The presentation concludes that practicing CSR is essential for long-term organizational growth and success. References to relevant academic sources are included. Desklib provides all the necessary AI based study tools for students.

PERSONAL AND PROFESSIONAL
DEVELOPMENT
TASK 1

Table of Content
 INTRODUCTION
 Why businesses should practice CSR including challenges of doing so within competitive business
environment
 CONCLUSION
 REFERENCES

INTRODUCTION
 Personal & professional development is the procedure through which individual and
organization engage in process of learning to meet barriers as well as desire goal.
 The current presentation is based on CSR, it justified why businesses should practice
corporate social responsibility.
 It includes challenges of doing so in current competitive environment.

Why businesses should practice CSR including
challenges of doing so within competitive business
environment
 Meaning of CSR
 It is all about how firms manager their business and its operations to produce overall positive
influence on society.
 CSR covers sustainability, ethics, social impact and done appropriately will be about core
business.

Cont..
 By practicing CSR firms will be conscious of sort of impact they had on all aspects of community, including
social, economic and environmental.
 Engage in this business model means that, in common course of business, a firm is operating in ways that boost
society and environment
 It avoids supporting negatively to them.

Cont..
 Importance of CSR and its practices.
 As essential as corporate social responsibility is for community, it is equally precious for
organizations as well, CSR activities will helps hinder powerful bond between workers and
corporations.

Cont.….
 Firms that adopt this concept have grown its business to point where they can cater back to economy.
 In simple words, to protect environment, build inclusive work culture and sustain in market, businesses must practice
CSR, because it directly impacts firms, employees and stakeholders.
 Corporate social responsibility initiatives will help non-profit make up that increase 25% after they have looked to
individual donors.

Cont.…
 Firms are increasingly ramping up their center on social accountability whether its protecting
environment
 championing women's rights and attempting to obliterate poverty, on national, global and local
level.
 This contributes effectively and tremendously.

Cont.…
 In order to gain attention of consumers towards purchasing is the another reason for which
businesses should practice CSR as it is important in competitive business environment.
 For example, TESCO implement numerous systems to achieve social responsibility, these
accountabilities include charity for foundations, fund-raising and to promote education.

Challenges of CSR practices-
Lack of resource-
 While implementing and practicing corporate social responsibility, businesses face main
challenges, in which one of that is lack of resources.
 It includes finances, knowledge, expertise and human capital, all these considered as
common barriers to do CSR practice.
 For effective implementation of CSR in delivering goods or services, large amount of
resources is needed.

Cont.…
Lack of strategic vision-
 This challenge is often attributed to lack of high management
commitment, CSR will be led for introduced and formalized from top
administration chart.
 Lack of strategic vision is the most common challenge faced while
practicing CSR.
 On way to present commitment towards this practice is by
incorporating it into firms, mission, objectives, vision and goals.

Cont.…
High regulatory standards-
 Retail industry is one of the highly regulated industry which complies that most stakeholders and
shareholders concerns on safety, environment and workers well-being.
 Moreover, safety and environmental performance are constantly increased by additions and
amendments to regulations.
 There by forcing sector to cope with these new standards which affect current practices of
business.