Corporate social responsibility has become a topic of concern for many businesses. Businesses are striving to meet sales and profit goals, yet at the same time have a positive impact on society. The reason for this is that customers, investors, employees, government agencies, and communities are all influenced by business, yet they all have the ability to influence and impact businesses as well. A company’s reputation is at stake when it comes to being socially responsible, and many companies have developed a plan that ensures they are being socially responsible while still meeting their sales/profit goals. This paper will evaluate Company Q’s current policies and attitude and make recommendations to improve them towards social responsibility and in turn increase their bottom line.…
On an ethical and social responsibility level, Wal-Mart has the philosophy of operating globally and giving back locally. It embraces corporate responsibility locally and globally. For example, in 2005, Wal-Mart showed its responsibility to help during the devastation of Hurricane Katrina and also during the horrific earthquake that devastated Haiti.…
From the given company information and profile, it seems that Company Q’s current attitude toward social responsibility could be improved. Customers are not only interested in what products and services stores offer, they are also interested in how the companies serve the community. Company Q needs to change a few policies in order to improve their current social standing in the views of their customers. First, closing stores in areas of need is not a customer-friendly policy. Next, offering products customers ask for, but with limited selection and high profit margins is not a customer oriented policy. Finally, refusing to donate day-old products to charity shows a lack of caring for the communities the company serves.…
Under the theory that social responsibility helps determine if a company is successful, let’s examine Company Q’s attitude toward social responsibility. Company Q recently closed down a couple stores citing that these two stores have been consistently losing money. It must be noted; however, that both stores were also located in higher-crime-rate areas of the city, which may cause the community to speculate about the real reason the stores were closed. Could it have been the fear of the neighborhood itself that caused Company Q to decide to close those two stores? The closing of these two stores could suggest that Company Q is more interested in profits and revenue rather than providing a much needed service to the community. In addition, Company Q’s customers have been requesting health-conscience and organic products for several years and they have just recently started offering these products. This change of heart may appear to be a positive step for Company Q if it wasn’t for the fact that not only did it take years of requests from their customers but all of the health-conscience and organic items being offered are high margin items, again making it appear that Company Q is more interested in profits and revenues than doing right by their customers and…
The second reason I feel Company Q is more concerned with profit than social responsibility is refusing to donate day-old products to the local food bank. They chose to instead throw it away due to worries over lost revenue. Wow, talk about…
The level of corporate social responsibility that a firm upholds is determined, to an extent, by the nature of the businesses products. This is demonstrated by BP, despite the company actively engaging in some CSR policies, goods such as oil are inherently harmful for the environment and therefore society. In 2010 BP failed to act successfully in socially responsible manner as 210million gallons of oil was spilled into the Gulf of Mexico. It can be argued that the main reason the company failed to act in a socially responsible manner is due to the nature of the product it produces as oil extraction is a complex process and any problems during extraction can have catastrophic consequences for the environment. It is generally considered that people who buy oil from BP won’t be concerned with the environment as they are purchasing products that have notable negative externalities. This in turn limits the incentive for BP to engage in CSR as customers will purchase their goods regardless of CSR so significant CSR activities will only increase costs and reduce company profits. To the extent that the product determines whether a firm acts successfully in a socially responsible manner depends on how strong the demand is for the product and the customers and stakeholder’s views on CSR.…
It is no mystery that companies exist and desire to make a profit from their product or service being offered. However, it is becoming increasing popular that companies desire to achieve social responsibility in order to increase their public image, which in turn should lead to increased profits. In this class, we learned that social responsibility is the duty to take an action that will benefit the interests of society and the organization (Kinicki & Williams 2011). One of the ways to become more socially responsible that is adopted by many companies is through green management, which is referred to using various policies to reduce environmental problems (Tim Barnett, n.d.). More and more companies are becoming concerned about the impact their organization is having on the natural environment.…
Corporate social responsibility is “The idea that business has a duty to serve society in general as well as the financial interest of stockholders.” (Pierce & Robinson, 2011 p. 52) All stakeholders should be taken into consideration when determining whether a…
It is important to be socially responsible – that is, to work with stakeholders such as employees, customers, communities, and governments to make sure that the company does its part to minimize negative impacts on society and maximize contributions to important issues that are being addressed worldwide.” (McGraw Hill )…
Wal-Mart is well known as a socially responsible company, and is constantly trying to improve upon their track record. Because Wal-Mart purchases product from so many suppliers around the word it is very difficult to police all of them. Not only is it difficult logistically, but it also requires a large portion of the budget to make sure that their suppliers are behaving in the standard that Wal-Mart deems necessary based on their Ethical Standards for Suppliers document. It is due to this high regard for social responsibility, in keeping with Wal-Mart’s credo, that the company goes to such great lengths to enforce these standards, not only on their employees, but on their suppliers as well.…
From a customer’s point of view, people often take concern in the modern issues of today’s world and they like to know that the company’s they purchase from are taking in their concerns and taking certain measures to make sure that they are acting as ethically as possible whether this be towards the environment, carbon footprint, produce, supplies and work staff.…
Companies that use socially responsible are Marks and Spencer. They have done this by creating an operation call Plan A where they are able to generate £185 million from just reducing costs. Saving this amount of money they are given the opportunity to expand the M&S brand, this is one of their main objectives where they want to have a M&S store within a 30 minutes radius of each customer. With M&S saving £185 million they have been able to a positive relationship with the community that they are in. What they have also done is that they have been cleaning out the community’s lakes and rivers this is very good as they will be looking to show that they are caring about the environment, being social responsible is a very good marketing strategy as they will be gaining publicity, and this will lead to more people becoming more aware that M&S are looking after the environment and people will be willing to support the idea. They will be doing this through shopping at M&S.…
Walmart has accepted social responsibility as a part of its organization. It has worked very hard in the past several years to show how it is not just responsible for its employees, but it is also socially responsible to help a society that needs its products and services on many levels. Jag will explain the policies and procedures of social responsibility.…
In the movie "A Civil Action", Jonathan Harr and Steven Zaillian, starring John Travolta, you see how hard it is to distinguish who wins when it comes down to social responsibility. Many people, mainly children, suffered and died in the city of Woburn, Massachusetts due to the city drinking water, from the river, being polluted. They named two companies that are to be held responsible for these actions.…
As we take into account the increasingly serious environmental problems and social issues such as inequitable growth, corporate social responsibility can no longer be used as a slogan or a tool of self-glorification, but rather as a pressing task for all companies, who contribute to these problems. In a day and age when technology allows us to be informed in real time, strategies such as "green-washing" may only accelerate the deterioration of a company 's image.…