Corporate Social Responsibility Strategy - Report Example

Table of Contents Works Cited 12 Table of Figure In simple words, Corporate Social Responsibility (CSR) can be defined as the management tool throughwhich an organization can identify the needs and requirements of its employees as well as its stakeholders. Figure 1: CSR (Corporate Social Responsibility) 5 Figure 1: CSR (Corporate Social Responsibility) 6 Business Strategies: According to Johnson and Scholes; authors of Exploring Corporate Strategy: Text and Cases, strategies can be defined as the approach of an organization to explore advantages and minus disadvantages within the limits and opportunities of the environment that is surrounded by them in the market place. In other words, business strategy is one in which, an organization deals with the competition and challenging environment of the business. Business strategies are made to establish long term plans and also to maintain them. Moreover, business strategies help an organization to fulfill its goals and also to satisfy the expectations of the shareholders (Scholes and Johnson). Sun Tzu asserts that “Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat” (Tzu). Several tactics are made to remove the weaknesses in business organizations. Moreover, it is necessary for the companies to cater plans that are appropriate for the betterment of their organization. Corporate Social Responsibility (CSR) Strategy: The Corporate Social Responsibility (CSR) strategy can provide a platform through which a company can deal with the competition within the market. According to the European Commission, “Corporate Social Responsibility (CSR) is the one through which an organization controls its environment and social objects while maintaining good relationships with its shareholders and employees” (European Commission). Corporate Social Responsibility (CSR) works on the continuous assurance of an organization in a way that can contribute in the development of the economy and also to “behave ethically”. Further, the aim of Corporate Social Responsibility (CSR) is to maintain better life for their employees and also for their families. It allows the firm to maintain its position by exploring its resources and to provide a guide line for the future developments. Moreover, it allows an organization to set strategies for long run. The key essentials of Corporate Social Responsibility (CSR) are to provide an appropriate direction for the firm through which basic needs and approaches can proceed forward. Further, the Corporate Social Responsibility (CSR) allows the firm and management to take further step on immediate basis (Industry Canada). In simple words, Corporate Social Responsibility (CSR) can be defined as the management tool through which an organization can identify the needs and requirements of its employees as well as its stakeholders. Figure 1: CSR (Corporate Social Responsibility) The customers, workers and suppliers of an organization are directly influenced by the products and services that are offered to them by the organization. However, it is important for any company to implement such plans and strategies that should felicitate not only the customers and suppliers but also maintain a balance and positive “social environment”. It is the duty and responsibility for the management team to deliver such methods that can improve the position of the organization. Moreover, it is the basic need of the company to grow and make changes in its performance as the time passes to meet its goals and also to build trust among its stakeholders. The motive of the Corporate Social Responsibility (CSR) strategy is to provide and felicitates the management in building the brand value and brand equity. In order to maintain the cost value and to identify every possible chance to reduce risk, Corporate Social Responsibility (CSR) strategy work as a tool. It works as a backbone for the management team through which an organization can envision its objectives and goals (Manning). The four areas on which Corporate Social Responsibility (CSR) strategy can make an impact are community, environment, marketplace and workplace. To summarize the objectives of Corporate Social Responsibility (CSR) strategy: The Corporate Social Responsibility (CSR) can create an impact of the workplace by providing equal opportunities to its employees and to respect them without discrimination. In the marketplace, the Corporate Social Responsibility (CSR) can impact the operations of business by coordinating customers and stakeholders. The Corporate Social Responsibility (CSR) strategy works on the processes to protect the environment. It provides an opportunity to understand the needs and values of the surrounding (community) and being responsible (Corporate Social Responsibility Strategy). To Conclude: To conclude our point of view and to learn more about the Corporate Social Responsibility (CSR) strategy, let us consider some of the organizations that are associated with the strategy of Corporate Social Responsibility (CSR) in order to maintain their reputation and to build an impact on their stakeholders. I. BMJ group: BMJ group is among world’s leaders in providing medical information about the healthcare. It is leaded by the British Medical Association (BMA), which was established in 1980. As it is independent in terms of publishing articles and content, it is not projected to replicate the policies of the British Medical Association. The group not only publishes the British Medical Journal but it also covers more than 30 journal that are related to the treatments and clinical evidences. The group is trusted by the researchers as it provides the information and services that are useful for the doctors as well as for the patients (About BMJ Group). The aim of the group is to become the most trustworthy and reliable publisher of the medical information all around the world. For this purpose, the group is dedicated to provide such facilities to maintain its brand name as well as establish good relationship with its stakeholders (BMJ Group). According to the group, the Corporate Social Responsibility (CSR) is the tool that can help them to establish such an environment to face the challenges and to provide a platform through which the group can show its responsibility to its employers as well as to its stakeholders. The group also launched the Corporate Social Responsibility (CSR) awards in order to recognize the work of the talented people in healthcare sector. The group adopts the Corporate Social Responsibility (CSR) strategy to: Build and enhance its brand name. Develop expertise and talent of employees at all levels. Promote balance in work as well as in life. Manage good relationships with stakeholders and also with the NGOs. Felicitate customers in offering them extraordinary services. Recognize the work of hardworking staff by fulfilling their needs and requirements. The BMJ group approach towards the Corporate Social Responsibility (CSR) strategy allows the group to face sustainability challenges. The Corporate Social Responsibility (CSR) tool provides a platform to the group through which the company can and will keep on establishing such actions that can reduce risk and also cost cutting. It is the responsibility of the management to implement the Corporate Social Responsibility (CSR) strategy but all the members of the company as well as the staff give their 100% potential to avoid the negative effects on the environment. The key essentials of the company in adopting the Corporate Social Responsibility (CSR) can be summarized as: The group is committed to adopt sustainable steps to encourage the employees as well as the suppliers. The company encourages cycling, walking and the use of public transport where practicable in order to make sure the “compliance with environmental legislations”. Adopting ways of recycling. In order to reduce the use of paper. Promoting the use of electronic communication like video conferencing. Encouraging the use of wood products (BMJ Group). II. Scottish Qualifications Authority (SQA): The Scottish Qualifications Authority (SQA) works in association with the universities, colleges and schools to serve education that is flexible and of high quality. The organization is based in Scotland and its aim is to become the world leader in the business of providing education that not only facilitate appropriate learning procedures but also recognize the accomplishments of the candidates. The SQA makes sure that the needs and values of its employees and stakeholders are fulfilled through appropriate means (About the SQA). In order to fulfill its goals, the Corporate Social Responsibility (CSR) strategy of the Scottish Qualifications Authority (SQA) is working as a helping tool for the organization. The main aims and responsibilities of the SQA’s Corporate Social Responsibility (CSR) strategy are: The organization makes sure that the employees and members of the staff should engage themselves in the decision making of the Corporate Social Responsibility (CSR) strategy. It enables the organization to work properly. The workers and staff, alongside with the management, make it sure that the Corporate Social Responsibility (CSR) vision in terms of process and procedures are “sustainable”. Ensures that everyone involved in the management and development of the strategies should establish a sense of responsibility (About the SQA). The Corporate Social Responsibility (CSR) strategy makes it possible for SQA to sustain its position and relationship with the environment, workplace, and community as well as with the customers. Works Cited "About BMJ Group." n.d. BMJ Group. 21 June 2010 . "About the Scottish Qualifications Authority." n.d. SQA. 22 June 2010 . BMJ Group. "Our Value." n.d. Corporate information. 22 June 2010 . —. "Strategy." October 2009. Article 13. 22 June 2010 . "Corporate Social Responsibility." n.d. A Guide to Corporate Social Responsibility (CSR). 21 June 2010 . "Corporate Social Responsibility Strategy." n.d. SQA. 21 June 2010 . European Commission. "Corporate Social Responsibility." 2010. EU-Enterprise and Industry. 21 June 2010 . Industry Canada. "Develop a CSR Strategy ." 2009. Corporate Social Responsibility. 21 June 2010 . Manning, Louise. "Does Your Organisation Have a Corporate Social Responsibility Strategy?" 2007. Ezine Articles. 21 June 2010 . Scholes and Johnson. "strategy." n.d. Tutor2u. 21 June 2010 . Tzu, Sun. "The challenges involved in strategic planning for businesses." n.d. Helium. Ed. Mike Cline. 21 June 2010 . Read More