3 1 CSR Journal 1
3-1 CSR Journal 1: CSR Strategy
If you were the CSR officer for a company of your choosing, what would your CSR strategy be and what issues would you focus on? Identify the stakeholders this strategy applies to. Describe the impact of the competitive forces shaping your strategy.
Taking into consideration, I feel I have not worked with CSR much in my current position at my current employer; I am going to take a stab at it and look at my own employer for this exercise. This is an entirely new concept I am learning and trying to apply daily.
In organizations, social responsibility is a system of self-regulation that businesses have implemented as part of their corporate integrity. CSR stimulates organizations to developed the means necessary to observe the “public’s social perception of them as a responsible business” (Davis). In turn a well-organized and managed CSR will create “social and environmental value” (Rangan, Chase, & Karim, 2012). The goal or objective of a good CSR is to support the business, reduce operating costs, promote a positive impact of customer, community, and employee responsibility, and to improve the relationship with its key stakeholders and customers. First, the company needs to determine the top business objectives in order to develop CSR goals. The strategy and focus that I feel are important to a successful business be to fully understand the customers, focus on the right issues, the company’s core purpose. The importance of fully understanding a company’s customer base allows for product change over a life span as well as the customer needs. With focuses on the right issues, corporate responsibility and sustainability may apply to a few issues all the way to a wide range of issues. Issues such as energy costs and fuel prices, affordable healthcare are a few of the more popular issues to consider. The stakeholders this strategy would apply to would be any individual who has interest in the company. I feel that the main
If you were the CSR officer for a company of your choosing, what would your CSR strategy be and what issues would you focus on? Identify the stakeholders this strategy applies to. Describe the impact of the competitive forces shaping your strategy.
Taking into consideration, I feel I have not worked with CSR much in my current position at my current employer; I am going to take a stab at it and look at my own employer for this exercise. This is an entirely new concept I am learning and trying to apply daily.
In organizations, social responsibility is a system of self-regulation that businesses have implemented as part of their corporate integrity. CSR stimulates organizations to developed the means necessary to observe the “public’s social perception of them as a responsible business” (Davis). In turn a well-organized and managed CSR will create “social and environmental value” (Rangan, Chase, & Karim, 2012). The goal or objective of a good CSR is to support the business, reduce operating costs, promote a positive impact of customer, community, and employee responsibility, and to improve the relationship with its key stakeholders and customers. First, the company needs to determine the top business objectives in order to develop CSR goals. The strategy and focus that I feel are important to a successful business be to fully understand the customers, focus on the right issues, the company’s core purpose. The importance of fully understanding a company’s customer base allows for product change over a life span as well as the customer needs. With focuses on the right issues, corporate responsibility and sustainability may apply to a few issues all the way to a wide range of issues. Issues such as energy costs and fuel prices, affordable healthcare are a few of the more popular issues to consider. The stakeholders this strategy would apply to would be any individual who has interest in the company. I feel that the main
References: Davis, S. (n.d.). Examples of Social Responsibility Strategies. Retrieved from Chron.com: http://smallbusiness.chron.com/examples-social-responsibility-strategies-10633.html Rangan, K., Chase, L. A., & Karim, S. (2012, April 20). Why Every Company Needs a CSR Strategy and How to Build It. Retrieved from Working Knowledge: http://hbswk.hbs.edu/item/6871.html