Corporate Social Responsibility - Essay Example

The Bill and Melinda Gates Foundation, for instance, is built to source the fortune of Microsoft towards improving education and helping poor people suffering from neglected diseases (Steiner, chapter 6). Likewise, Ski-in Inc. has plans of having an annual donation scheme for two orphanages in one of the developing countries of Africa. The social costs or the negative externalities on society are to be minimized through environmentally friendly products. A new section of apparels would be launched that would be bio-degradable.

Moreover, ways to recompense the pollution and harm inflicted by the production process are in progress. For every bio-degradable apparel sold, Ski-in will plant one tree. Since our products have a considerably good market; this program is going to benefit our organization and also the environment. However, the main function of the corporate is not social charity but profitability. Nevertheless, involving in controversies like that of Nike with respect to its labor practices and social duties and General Electric Company under CEO Jack Welch needs to be avoided (Steiner, 2009, chapter 6).

Hence, the idea is to make innovations and create profits through environmental protection and social enhancement. Greater production would create jobs in society and help reduce unemployment. It would also generate higher corporate taxes that would benefit society. Pumping in more products would serve the consumers and give them greater satisfaction. Thus, the utility of consumers would increase. Also planting trees would help in the reduction of carbon dioxide in the atmosphere and hence help to curb global warming.

However, these programs would take time to materialize and incur costs both in terms of money and opportunity. The donations would only come up with an increase in profits of the company. Greater compliance with the environmental and social laws along with good marketing skills would help to overcome the challenges associated with our programs. Sustaining a good image is imperative.Our company will achieve positive exposure through our new corporate social responsibilities program. Along with higher profits (which is the most important objective of a corporate), social and environmental enhancement would also be achieved.

This will help us earn a good reputation and also a wider market. It would in turn benefit our stakeholders and thus help us in accomplishing our duty towards them (Hohnen and Potts, 2007). In other words, it will lead to a chain effect that would continue to sustain our company and also the society.The implementation of the program involves competitive social issues (Steiner, chapter 6) which would benefit both the society and the company. It would target issues of the environment, specifically global warming and social issues like poverty and unemployment.

The exact allocation and strategies would be discussed in a formal set up of a committee that would solely deal with the corporate social responsibilities of Ski-in. Goals and timelines would be set after a thorough review of the company’s assets and the prevailing international laws. Action plans and budgets would be set henceforth. All these activities will occur through transparency and according to the Global Reporting Initiative (GRI) guidelines.