A Companys Corporate Social Responsibility - 1589 Words

When looking at a company’s corporate social responsibility (CSR) and the tie in to consumer confidence, the apparel industry illustrates both the best and the worst cases. Today’s consumers are more aware of how multinational corporations are incorporating or failing to incorporate CSR practices throughout the product lifecycle. This awareness has pushed companies in the apparel industry like Nike and Gap to evaluate current practices and incorporate socially responsible and environmentally responsible policies throughout their supply chain. Product Lifecycle The push for companies to become both ethically and environmentally conscientious has created a push for companies to evaluate all stages of product creation. CSR practices will directly impact the lifecycle pricing of these products. For example, wages have increased in developing countries when CSR practices have been implemented in the apparel industry. This increases the production costs which will influence the lifecycle pricing. In addition to increased wages, acquisition and disposal of raw materials also plays an important role in the pricing. Sourcing in the apparel industry costs more to organically produce cotton, especially in developing countries. Mass production of cotton is cheaper, but is usually not ecologically friendly; however, sourcing of products is only one portion of the picture. Often forgotten, is the need for disposal of waste material. Environmentally concerned stakeholders areShow MoreRelatedCompanys Corporate Social Responsibility Practices1665 W ords   |  7 Pagesesteem, and finally, their trust in the company’s Corporate Social Responsibility practices (CSR). The companies with the best reputations will receive recognition from the public for their efforts and are on the right path of building a sustainable business for the future. A good reputation may include safe products and services, best workplace environment, financial performance, technology innovation, respectable leadership, socioeconomic justice, corporate governance and citizenship, and businessRead MoreImpact Of Corporate Social Responsibility On A Companys Performance1127 Words   |  5 Pagesextent is Corporate Social Responsibility (CSR) beneficial to a company’s performance? Sub-prompt: Evaluate how CSR can be beneficial to company’s financial performance. 1. Introduction Corporate social responsibility (CSR) has become more influential when making company’s decisions. 53% of the SP, an index based on market capitalizations of 500 U.S. companies, has published CSR reports in 2012 as compared to 19% in 2011. An approach, suggested by Business for Social Responsibility, considersRead MoreCorporate Social Responsibility And Its Impact On The Companys Daily Activities1266 Words   |  6 Pagesfactors that consumers consider. Many corporations understood these changes in society that evolved the Corporate Social Responsibility concept and its implications on the companies’ actions. New Balance, one of the biggest footwear companies in the world, was one of the first companies that saw the hidden potential in applying this concept. Despite the applications of social responsibility in the company’s daily activities, it faced difficulties in receiving recognition for its actions because of wrongRead MoreTo What Extent Is Corporate So cial Responsibility Beneficial to a Company’s Performance1245 Words   |  5 PagesTo what extent is Corporate Social Responsibility beneficial to a company’s performance Corporate Social Responsibility is a philosophy that relates to a business being a part of the society, so acts in a way that not only advances its own firm but also serves the society as well. Good ethics is the cornerstone of sustainable development. In the long run, unethical behavior may harm customers and the society as a whole. Furthermore, it damages a company’s image, efficiency and effectivenessRead MoreTo What Extent Does Corporate Social Responsibility Beneficial to a Company’s Performance?1187 Words   |  5 Pagesextent does Corporate Social Responsibility beneficial to a company’s performance? Hot debates were arose everywhere in the society about the extent of Corporate Social Responsibility (CSR). Mallen Baker (2004) states that CSR is about how companies manage the business processes to produce an overall positive impact on society. Supporters of CSR claim that Businesses and Corporations are not only about making money especially for big business. They should show social responsibility, moral standardRead MoreTo what Extent is Corporate Social Responsibility Beneficial to a Company’s Performance?1078 Words   |  5 PagesIn recent years, there have been a growing number of companies that have an explicit Corporate Social Responsibility (CSR) plan. As stated by European Commission (2001), CSR is defined as â€Å"a concept whereby companies integrate social and environmental concerns in their business operations and in their interaction with their stakeholders on a voluntary basis.† It is believed that the motives for CSR are gradually converting from phi lanthropic rationale to performance-driven orientation, but the questionRead MoreAnalysis Of Social Responsibility Report And Annual Report Of The Company953 Words   |  4 PagesThrough the analysis of social responsibility report and annual report of the company, this essay uses the case analysis and correlation analysis to discuss the relevance between company’s social obligation and its economic performance. The article will first define the corporate social responsibility. Secondly, it will introduce the previous research and their conclusions. Then it will analyze the case of Lenovo. Finally, it will summarize the research results and give suggestions for enterprisesRead MoreTo What Extent Is Csr Beneficial to a Companys Performance1184 Words   |  5 PagesTo What Extent is CSR Beneficial to a Company’s Performance? Corporate social responsibility (CSR), which is a popular debate topic over decades, has divided into five major dimensions over time. They are known as the stakeholder dimension, the social dimension, the economic dimension, the voluntariness dimension and the environmental dimension in research (Dahlsrud, 2008). The relationship between CSR and company’s performance, which is classified as the stakeholder dimension, aroused a controversialRead MoreSouthwest Airlines : Corporate Social Responsibility809 Words   |  4 Pagesrecognized for their corporate social responsibility initiatives is Southwest Airlines. Southwest is a successful organization that perfectly blends operational focus with social obligations which translates into increased revenue and customer support. For several years, Southwest Airlines received recognition as one of the 100 Best Corporate Citizens by Corporate Responsibility Magazine (Corporate, 2015). Analyzing Southwest Airlines’ commitmen t to corporate social responsibility will demonstrateRead MoreThe Problems of Social Responsibility1350 Words   |  5 Pages1. INTRODUCTION Combine Corporate Social Responsibility (CSR) into strategic management is making and increase profit to a companys business. In recent year, the importance of Corporate Social Responsibility (CSR) has gradually become a very concern to industries. Hence, there have been gradually increasing tensions with many companies and increase the responsibility of managers try to carry out Corporate Social Responsibility (CSR) to society. In fact, managers should be having knowledge and understanding