Strategies of CSR in Business
EXECUTIVE SUMMARY: – This is a business report submission of my Understanding of approaches to Business Management, strategic planning and Corporate Social Responsibility challenges in Micro, SMEs and Corporate Businesses or organisations.
I would like to look into the definitions or meaning of sustainability in business, strategic planning and CSR, before I commence fully on this report.
Strategic planning:-It’s the concise and clear plan that is put in place for a business to achieve and meet its objectives and goals if the organisation wants to survive, succeed and thrive.
Sustainability: – according to (Cavusgil, 2017) Meeting humanity’s needs without harming the future generations.
Corporate Social Responsibility : – definition hasn’t been widely accepted according to (Godfrey and Hatch, 2007), but its definition simply is corporate social responsibility and this is not just limited to multinational companies but to micro, small medium sized enterprises as well, in that it has a responsibility to its stakeholders and shareholders in dealing with their needs in ensuring that trading is ethical and that employees have rights within the organisation, aiding theÂ the community as well is impacted positivelyÂ and that the environment is not negatively affected with their business dealings and no illegal dealings in their transactions but home and abroad.
DIFFERENT APPROACHES OF MICRO, SMEs AND CORPORATE BUSINESS TO BUSINESS MANAGEMENT, PLANNING AND CORPORATE SOCIAL RESPONSIBILITY
According to (Eweje, 2014) findingsÂ is that Multinational enterprise that are in operation in developing countries do contribute to job creation growth and development and poverty alleviation there, but when compared to developed countries they do not pay much attention to CSR and sustainability.
In SMEs operations since they do not usually have enough capital and have fewer employees compared to corporate business enterprise, this makes them more adaptable in their business dealings and transactions either locally or internationally.
Business plan so that they can achieve their goals e.g. in using the swot analysis by analysing situation internally which is the strength and weakness of the organisation and external analysis looking at the strength and weaknesses.
It’s through corporate governance that multinational companies ensure that corporate social responsibility, sustainability and strategic management are been undertaken.
For Micro, SMEs and corporate Businesses, their approach to Corporate social responsibility is quite similar in that they ensure that the human rights of their employees are a priority, ensuring that employees do have a right to join any union, health and safety is been observed at workplace, also that there is no child labourer working for the organisation and that they do not contribute to global warming e.g. recycling,Â no illegal dealings either nationally or internationally, and that they support poverty alleviation in developing countries.
DIFFERENT TYPES OF STRATEGIES THAT BUSINESSES USE TO OPERATE IN AN ETHICAL AND SUSTAINABLE WAY
When companies observe Corporate Social Responsibility and basically incorporate it into the daily culture of the organisation they are behaving in an ethical manner.
When an organisation, firm or enterprise observe some of this practices such as ensuring that there is no water wastage by recycling it, clean water, minimises air pollution, reducing an organisation’s carbon footprint ensure health and safety at workplace, they are operating in a sustainable way that will lead them having a competitive advantage over other companies.
Also they are operating strategically and in a sustainable way when a company looks for ways to ensure that it makes an impact in the community by creating jobs locally, probably in a community that it is obvious that it is disadvantaged.
If it does not use children as staff i.e. child labour or does not do anything that might negatively impact the health and wellbeing of its worker, wages and salaries should be fair, recruitment as well should not be discriminatingÂ a safe working environment, creating opportunities for career development or improving skills of employees, which will lead to employees been retained rather than looking for other job opportunities that will improve their prospects in the future, also providing benefits for those that will eventually retire, which will make employees have something to look forward to.
Ensuring also that pollution is not an issue and that waste are been reduced in their manufacturing processes.
HOW COCA COLA, ADNAMs AND SMEs IMPLEMENT CORPORATE SOCIAL RESPONSIBILITY
Coca cola implementing corporate social responsibility in India, according to (Vikalpa 2014, p.100) in summary, Coca-Cola in IndiaÂ initiatedÂ some stepsÂ inÂ implementingÂ sustainability when there was scarcity of water in the region of Rajasthan,Â they provided irrigation that led to the supply of waterÂ to farmersÂ by doing this theyÂ were able to provide water to the local communities , this actionÂ enabled them to gain the confidence of the villagersÂ and the initially scepticalÂ eventually developedÂ trust in themÂ and also ended up cooperating with them.
Coca cola invited the villagers and their leaders to come to the factory and see their water management processes, they used resources, labourer, contractors from the community and they ensured they were quite open in the use of the funds
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- Eweje .Gabriel.(2014) Corporate social responsibility and sustainability [electronic resource] : emerging trends in developing economiesÂ :Emerald Publishing,2014
- Godfrey PC, Hatch NW.2007.Researching corporate social responsibility: An agenda for the 21st century.journal of business Ethics 70(1):87-98.
- Maria-Alejandra, Gonzalez-Perez and Liam Leonard.(2013) International business, sustainability and corporate social responsibility [electronic resource] : Emerald,2013
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- Chaklader B and Gautam N, 2014, ‘Efficient Water Management through Public-Private Partnership Model: An Experiment in CSR by Coca-Cola India: Vikalpa: The Journal for Decision makers. Jan-Mar2014, Vol. 39 Issue 1, p97-104. 8p.