7001MKT Assessment 2: Company Communications Report

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7001MKT ASSESSMENT 2 - COMPANY COMMUNICATIONS REPORT - COMPANY CSR
AND CORPORATE COMMUNICATION STRATEGY
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Executive Summary
This report concludes the information in terms of the company’s communication and their
Corporate Social responsibility and strategy towards the same. Corporate Social responsibility
is considered as the business which determines the company should remain socially
accountable for their works which tends to create a positive image in the eyes of general public.
It includes participation of company, stakeholders and at the same time company too. This
report will provide the information Westpac and their involvement in Corporate Social
Responsibility and what sort of issues which are faced by them in their working. It will provide
the set of information terms of CSR practices and communications.
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Table of Contents
Executive Summary.......................................................................................................................2
Introduction....................................................................................................................................5
Theory: Integrating CSR and Issues Management.......................................................................6
The role of CSR within your organization......................................................................................7
Role of CSR Issues Management for your organisation...............................................................8
Consistency of company corporate communication messages.....................................................9
Overall evaluation of communication in the organization and your specific recommendations. .10
Conclusion...................................................................................................................................12
References..................................................................................................................................13
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Introduction
This report summarizes the information in terms of corporate social responsibility and
communication strategy which is used by every company in their course of working. The
communication strategy provides the platform which shows the plan to achieve all the
communication objectives such as marketing, public relation etc. which provides a platform for
the achievement of goals and objectives. This report will conclude the engagement of corporate
social responsibility in Westpac which helps in enhancement of society and the community and
leads to the creation of positive image in the market. This report will provide the proper
information in terms of the role of corporate social responsibility and issues which occur and
tend to affect the company. It also helps in determining the features of CSR and importance of
communication in the Westpac and the messages which are delivered through the approach of
CSR in the economy.
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Theory: Integrating CSR and Issues Management
Corporate social responsibility is considered as the business model which is used by the every
company which showcases the company is socially accountable which include company, their
stakeholders and community people. The practices of CSR lead to the creation of humble and
kind impact in the society which will create image in society. The main aim of the CSR is to
conduct the business in ethical manner which involves numerous amount of activities which
have positive affect in the society (Servaes & Tamayo, 2013).
Integrating Corporate Social Responsibility
The approach of Integrated corporate social responsibility is basically depends upon the fact
that Corporate Social Responsibility, brands and reputation management are basically have
common source of working. It is basically depend upon the perspectives of the stakeholder
which tends to provide the valuable guidance which helps in the development of Westpac and
focus on generating the ideas which are innovative in nature. The tools of Corporate social
responsibility contains information which is valuable and which in return provides the reputation
analysis and crucial for the CSR management. It concludes that Corporate Social Responsibility
is considered as the heart of stakeholders to maintain the reputation in the market.
Theory surrounding issues management
The issue management is considered as the process of identifying the problems and resolving
the issues towards the same. It determines the problems which creates problems in the
management and tends to create negative impact on the project. The areas of concern for the
Westpac are protection towards the environment, well-being of employees, community and
civilians which are also counted as general public and can create affects in the future. The
issues management which are good in nature requires the identification of the critical issues
which tend to affect the working of Westpac. They also try to create influence on these issues
so that they does not become a major problem and create loss (El-Garaihy &
Albahussain,2014).
CSR issues management
The main aim of the CSR is to gain the benefit from the Westpac’s Stakeholder and focuses on
the positive affect from these activities. This includes numerous activities such as role of
government, human rights, customer interests etc. which are briefly explained below:
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The role of government: It has been observed that governments are basically relying upon the
legislations which tends to deliver the social and environmental objectives in the Westpac. The
reduction in government resources has given rise to the distrust of regulation which tend to the
Westpac’s initiatives for the community.
Human rights: It is the duty of the Westpac to protect the human rights and at the same time
provide them respect too. Human rights enable the enterprise to identify the adverse effects and
their value in proper time to avoid any kind of discrepancies in the near future. It helps in
managing the issues and helps in maintaining the risks which can affect the region and sectors.
Customer Interest: Every business has to prioritise the needs of the consumers which ensures
the better working of the company. The ethical conducts tend to create influence on the
customers in accordance with the social performance (Arıkan & Güner,2013).
The role of CSR within your organization
Features of CSR practices and communication within the Westpac
There are various features which are included in the CSR practices and communication is as
follows:
 It involves responsibly sourcing of data and information of the Westpac.
 It includes employees, customers and community engagement and other members of
the Westpac.
 It focuses on the protection of environment and as well as on management too.
 It put emphasis on creating social equity, gender equity and other human rights too.
The Corporate social responsibility is considered as the process which helps in finding out the
stakeholder’s expectations. It also has involvement of CSR policies and at the same time it
requires managing Westpac’s communication by using different tools. The tools tend to
generate and provides a clear picture of the Westpac’s information. It also involves the brand’s
integrity in regards with their business operations which involves social and environmental
concerns.
Communication activities and tools
There are various tools which help in determination of the CSR are as follows:
 Advanced CSR Assessment
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The Advanced CSR assessment tool helps in evaluating the business performance
which includes 70 question assessment tool which helps in measuring the progress in
relation with the CSR stages such as promotional, strategic and transformative.
For example: Westpac bank has implemented numerous initiatives which includes
financial literacy programs, inclusion of other banking services for those people who
have lower income in their family and effects the management of the company.
 S2M Certification
The S2M certification is considered as the tool which is in regards with the corporate
improvement which includes three components sustainability, measurement and
meditation.
For Example: Westpac’s Stakeholders tend to use the meditation process which helps in
completing the priorities of project.
Key stakeholders relation to the CSR program issues
 Evolving NGO’s in relation with business
The NGO’s have been flourishing in every aspect nowadays which shows that
stakeholders are taking interest in these social activities and collaborating with them. In
accordance with the involvement of NGO’s in the business they provide the sources to
those who are in the need can enjoy the privileges and which in return helps in
maintaining the positive image of the company in the market (Saeidi & Saaeidi,2015).
 Transparency of Revenue and government accountability
The stakeholders are required to have clear picture of the revenue as they are people
who have invested the money in Westpac and holds every right to have the proper
amount of information and transparency. The government has proper intervene which
shows that different factors are involved in the same manner.
Role of CSR Issues Management for your organisation
Westpac is one of the largest organisations operating its business all over the world as well. CSR
issues include various issues which have been related to the corporate social responsibility of the
organisation as well. Westpac has been facing few of the following CSR issues.
 Working conditions of the organisation – Westpac is a organisation which has been
operating on a large scale which indicates that the working conditions of the company
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must be high level but with running so many branches, it becomes problematic to equally
provide the good working conditions to the employees as well.
 Human rights – Since long, the company has been running its business but few of the
scandals related to the human rights had been happened in the past few years. In larger
scale organisation, all human rights laws must be followed as well (Kim & Lee, 2012).
Consistency of company corporate communication messages
The stakeholders are the stepping stones of business which involves consistency in the terms of
corporate communication. It includes various set of activities which are involved in managing the
internal and external communication which have main aim of creating the optimistic view point
for the stakeholders which is directly in relation with the Westpac. The messages are issued by
the corporate organisations, body, institutes, audiences, employees, media channels, partners
and as well as general public too. The messages are conveyed in the consistent manner helps
in maintenance of flow of information and it also helps in taking the necessary actions when
required which helps in maintaining the positive image of the company in the market. Corporate
Social responsibility activities promotes the green marketing as it promotes the safe
environment which has involvement of various activities in regards with the modification of
product, sustainable packaging which creates positive impact in the market Choi & La 2013).
It focuses on providing the information to stakeholders which includes information in terms of
company’s mission which has inclusion values which delivers a consistent message to
stakeholders. The concept of the corporate communication can be considered as the integrative
communication structure which have direct link with the Westpac’s stakeholders to the
organisation.
The stakeholder does not remain in the organisation every time which requires the involvement
of various communication tools or sources. The information sometimes can be delivered by
through emails and conference calls which imply that the information has been forwarded to
them and they can have say in the decisions and other things and also helps in taking
necessary actions for the same. The stakeholders sometimes requires the information in the
written manner so they can have the proof regarding the same in accordance with that they can
take the necessary actions and grants the approval from senior management. It has been
observed that sometimes stakeholders put emphasis on the verbal communication in order to
generate the effective results in the Westpac.
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Overall evaluation of communication in the organization and your specific
recommendations
1. It is necessary for the company to follow the recommendations as it helps in
enhancement of the communication in better manner and also helps in maintaining the
consistency in the company as they have proper amount of information which are
required in delivering the company’s mission which has inclusion values which delivers a
consistent message to stakeholders. The information which is being delivered makes the
things feasible for the company in the long run. It has been recommended that the
information should deliver to the stakeholders in desired manner. It tends to provide the
messages are conveyed in the consistent manner helps in maintenance of flow of
information and it also helps in taking the necessary actions which in return creates
positive image of the company in the market. It has been recommended that the
Westpac should maintain the bridge for communication purpose between the
stakeholders as they are the stepping stones towards the success of the company
(Pérez & Rodríguez,2013). It is recommended to deliver the information in set manner
which will make the things feasible for them and helps in generating the returns in every
way possible.
2. It is also recommended for the company to use other modes of communication for
delivering the information to the consumers in proper manner. It has been observed that
stakeholders are not always available in the organisation to go through with the activities
which need approvals and guidance towards the same as they also have proper
involvement in the company. It is recommended to use the other media platforms to
deliver the information if they are not available. The information can delivered to them by
the emails, making them part of discussions through conference calls etc. The
information which is delivered to them provides the path for the stakeholders to take
necessary actions and have approvals from senior management and other people. It
also helps in minimizing the discrepancies which takes place in the company and hold
the power to impact the company’s identity and other features and at the same time
helps in delegating the tasks in the communication. The communication provides helps
in collaboration and generation of business in the proper manner. However the
communication can be made through by using the different platforms which generates
positive outcome in Westpac and ensures better productivity (Swimberghe, &
Wooldridge,2014).
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Conclusion
This report summarizes the information about the use of corporate social responsibility and
communication strategy in the Westpac. It provides the overall information of the company
which is in terms with the CSR and have the inclusion of theory which can create impact in the
company. It also concludes the issues management in relation with the CSR and their
management towards the same which helps in building the reputation in the market. It also
includes the role of CSR in the Westpac which describes the practices and communication and
focuses on improving the CSR issues. CSR hold the power which can destroy the Westpac
reputation in the market. It also determines the importance of consistency of the corporate
communication messages which tends to create impact in the working of the company and as
well as on stakeholders too.
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References
Servaes, H., & Tamayo, A. (2013). The impact of corporate social responsibility on firm value:
The role of customer awareness. Management science, 59(5), 1045-1061.
Saeidi, S. P., Sofian, S., Saeidi, P., Saeidi, S. P., & Saaeidi, S. A. (2015). How does corporate
social responsibility contribute to firm financial performance? The mediating role of competitive
advantage, reputation, and customer satisfaction. Journal of business research, 68(2), 341-350.
Korschun, D., Bhattacharya, C. B., & Swain, S. D. (2014). Corporate social responsibility,
customer orientation, and the job performance of frontline employees. Journal of
Marketing, 78(3), 20-37.
Walsh, G., & Bartikowski, B. (2013). Exploring corporate ability and social responsibility
associations as antecedents of customer satisfaction cross-culturally. Journal of Business
Research, 66(8), 989-995.
Choi, B., & La, S. (2013). The impact of corporate social responsibility (CSR) and customer trust
on the restoration of loyalty after service failure and recovery. Journal of Services
Marketing, 27(3), 223-233.
Arıkan, E., & Güner, S. (2013). The impact of corporate social responsibility, service quality and
customer-company identification on customers. Procedia-Social and Behavioral Sciences, 99,
304-313.
Kim, S., & Lee, Y. J. (2012). The complex attribution process of CSR motives. Public Relations
Review, 38(1), 168-170.
Pérez, A., & Rodríguez del Bosque, I. (2013). Customer personal features as determinants of
the formation process of corporate social responsibility perceptions. Psychology &
Marketing, 30(10), 903-917.
Swimberghe, K. R., & Wooldridge, B. R. (2014). Drivers of customer relationships in quick-
service restaurants: The role of corporate social responsibility. Cornell Hospitality
Quarterly, 55(4), 354-364.
El-Garaihy, W. H., Mobarak, A. K. M., & Albahussain, S. A. (2014). Measuring the impact of
corporate social responsibility practices on competitive advantage: A mediation role of
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