Individual Report: CSR and Sustainability in Business Strategies

This report provides an in-depth analysis of Corporate Social Responsibility (CSR) and sustainability within the business sector. It explores the application of sustainable approaches to business strategy, examining the practices of companies such as Tesco, Marks and Spencer, Starbucks, and Tata. The report highlights the importance of sustainability in maintaining ecological balance and meeting human needs, as well as the strategic planning and CSR challenges businesses face. It delves into different CSR approaches, including those used by micro, small, and large businesses, and discusses the impact of CSR on brand image, customer loyalty, and the ability to attract socially responsible investors. The report also covers business ethics and the strategies firms employ to provide quality products and comply with legal terms, ultimately concluding that effective sustainability and CSR activities are crucial for attracting customers and maintaining a strong brand image.

Individual Report and Reflection
(FIRST PART)

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Presenting the sustainable approach to a business strategy....................................................1
Different approaches to CSR..................................................................................................2
CONCLUSION................................................................................................................................4
REFERENCES................................................................................................................................5

INTRODUCTION
Corporate Social Responsibility is the strategy that provide benefits to society. Report
based upon different organization such as TESCO, Marks and Spencer, Starbucks and Tata
who deal in different markets. Report main aim is to describe the importance of sustainability
and CSR on different types of business. Report presents the application of sustainable
approach to a business with strategic planning and CSR challenges.
MAIN BODY
Presenting the sustainable approach to a business strategy
Sustainability is a process that help to maintain sudden change in an ecology which
further includes exploitation of resources, position of technological development and the
changes of an institution that further helps to meet out the needs of human. Sustainability is the
movement that leads to a social change in order to provide benefit to society. For example,
TESCO also received a sustainability reward. Being the largest retailer in a world, it also
became the first corporate in order to create a carbon reduction target. Therefore, in 2006, it
also achieved 41% reduction in carbon intensity in order to improve the energy and refrigeration
efficiency and contributes their part for the welfare of an environment. On the other side,
TESCO also develop the strategy and implement it by 2030 that all the stores' electricity will be
renewable sourced and it saves 2.4 million tonnes carbon (TESCO's sustainability strategy,
2018).
Another example is Marks and Spencer, such that it develop the approaches to product
sustainability and the company has many stakeholders or partners in order to make the
products of a firm more sustainable. Further, the quoted firm also make their products
packaging widely recyclable and as a result firm introduced Plan A which provide the link
between the activities such as taking out the fats from a food (Epstein, 2018). Not only big firm
contributes their share for sustainability but small business firm also trying to establish their
stronger standards in order to raise the sustainability practices, but they face many challenges
as well.
There are many SME who usually concern is related to cost and ROI, while it is quite
important for them to understand the reduction of carbon and for this reason, they have to
measure the energy, water consumption as well as waste in the terms of cost saving. Beside
this, it is to be recommended to SMEs to engage all stakeholder such as customers, suppliers
and employees and through better communication, the firm can easily achieve its sustainability
practices (Kaklauskas and et.al., 2018).
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Moreover, PepsiCo which is based upon food and beverage industry and it also presents
their sustainability strategy as well as different goals during their annual stakeholder meetings
that further identifies some climatic change, water scarcity and to overcome this, company uses
greater accountability of some non- traditional stakeholder and continuous improvements
regarding their reporting practices (Carlucci, Cirà and Coccorese, 2018). On the other side,
Coca- Cola which also take steps in order to improve the efficiency of their water use by 20
percent and also identify different need of their third party evaluation regarding their water
management system. As a result, it also helps to manage the change which help to raise brand
image in market. From the above, it has been cleared that sustainability helps a business and
strive towards a society and also protect the global environment. Regarding sustainability,
Starbuck's also making their efforts in order to engage their suppliers and local community in
which they are operates and intensify investments for their sustainable farming and as a result,
it reaches company's goal of ethically sourcing 100 percent coffee beans by 2015 onwards.
Through this, Starbucks also make its contribution in order to sustain the environment (Hahn
and et.al., 2018).
Business ethics: This is also known as corporate ethics which is a form of applied
ethics that help to determine some moral as well as ethical problems that helps to arise the
business environment.
Strategy: TESCO and Marks and Spencer should provide the best quality of food
products to their customers. On the other side, business should also comply with all legal terms
which are helpful in their business success.
Different approaches to CSR.
Corporate Social Responsibility (CSR) is self regulating business that assist different
companies in order to be sociable and as a result, they directly indirectly affect the society.
Through CSR, the company is operating in many ways that further enhance society and
environment in positive way. It has been analysed that a good reputation and image also help
to attract the customers towards them. Micro business in UK are also uses different CSR
approaches in order to share their contribution towards a society such as some of them uses
localised CSR activity and expand their businesses for further level of success, though their
strategy is quite different from other firms and they only contribute small portion for the welfare
of a society (Raithel, S. and Schreck, 2018).
On the other side, small business adopt different CSR strategy such as they expand
their business and by improving the quality of their offered products they contributed their
portion for the welfare of society. The strategy for small business regarding CSR is quite
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different from others, such that Hershey which also uses different CSR policy in order to
promote the welfare of the society. Its new strategy is shared goodness promise which further
consists of different pillar such as shared future, business, community and the planet. Though
small business are not as much capable to create big impact upon society as compared to large
firms, but still small business firms who are more active in environmental policies are actually
receives positive feedback from the customers (Epstein, 2018). It can be done through use of
promotional media, by retain high quality of customers and improved community relations etc.
Large firm such as TESCO, Tata, Marks and Spencer have their own CSR strategy and
that is why the firm have their brand image in market and attract wide range of customers
towards them. As TESCO CSR approach is that it should be socially responsible in the terms of
local community, their business partners, suppliers, employees and shareholders etc. it also
educates and empower the workers. In 2015, more than 1500 employees in retail sector were
injured and at that time, TESCO also contribute their part for employee health and safety. Large
firms also did not discriminate people and gender equality such that it helps to create large
impact upon customers. This shows that large firms share their biggest contribution regarding
CSR. On the other side, Tata group also contributes their part for corporate social responsibility
such that it also spread the quality of education and healthcare and different opportunities of
sustainable livelihood. Tata group also empowers communities with agricultural development
and market linkage, also promote entrepreneurship and different preservation of ethnicity and
culture of indigenous communities in order to promote different society.
Differences: Micro, small and corporate business corporate approaches are different
but their motive is same. Such that they all work to provide benefit to the society but they all
adopt different strategy to reach this goal. Such that micro and small firm uses quality
improvement technique and through this, it attracts wide range of customers while, on the other
side large business uses different strategy for the welfare of society. The success of their
strategy is also measured through community relations, increases ability for retain high quality
employees, brand image and loyalty of their customers or increase appeal for socially
responsible investors as well as portfolio managers (Benn, Edwards and Williams, 2014).
Therefore, it has been analysed that if the firm have their any involvement in CSR activities then
it increased the chances of brand image of the company. Further it also assists to sustain or
improve the brand image in market.
CONCLUSION
By summing up above report it has been concluded that sustainability and CSR plays an
important role in every sector of the business. As report concluded that through effective
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sustainability and CSR activity, business can easily attract wide range of customers towards
them and can sustain its brand image in market too.
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REFERENCES
Books and Journals
Benn, S., Edwards, M. and Williams, T., 2014. Organizational change for corporate
sustainability. Routledge.
Carlucci, F., Cirà, A. and Coccorese, P., 2018. Measuring and explaining airport efficiency and
sustainability: Evidence from Italy. Sustainability.10(2). p.400.
Epstein, M. J., 2018. Making sustainability work: Best practices in managing and measuring
corporate social, environmental and economic impacts. Routledge.
Epstein, M. J., 2018. Making sustainability work: Best practices in managing and measuring
corporate social, environmental and economic impacts. Routledge.
Hahn, T. and et.al., 2018. A paradox perspective on corporate sustainability: Descriptive,
instrumental, and normative aspects. Journal of Business Ethics.148(2). pp.235-248.
Kaklauskas, A. and et.al., 2018. An Evaluation System for University–Industry Partnership
Sustainability: Enhancing Options for Entrepreneurial Universities. Sustainability.10(1).
p.119.
Raithel, S. and Schreck, P., 2018. Corporate Social Performance, Firm Size, and Organizational
Visibility: Distinct and Joint Effects on Voluntary Sustainability Reporting.
Online
TESCO's sustainability strategy. 2018. [Online]. Available through:
<https://www.theguardian.com/sustainable-business/sustainability-case-studies-tesco-
food-waste>.
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