Corporate Social Responsibility and Multinational Corporations - Example

Corporate Social Responsibility and Multinational Corporations Name: University: Course Title: Instructor: Date of Submission: Executive Summary The aim of this research paper was to interrogate the concept of social responsibility and how multinational corporations utilize them. The paper found out that engaging in CSR by a company is a two edged sword. The first significant outcome to the company is a form of appreciation to the host community for being given the opportunity to conduct business and extract resources in the same society. The second effect is related to the new concept that is tied to sustainable development through sustainability reporting. This allows firm to report on the impact on the environment and how they are reducing on the same. The case of Nokia highlights the same. The next important realization was how companies conduct CSR and how they modify them to suit a local situation. In this instance, the paper realized that companies try to domesticate their approaches to CSR. A case example of how this happen, Toyota Australia has put numerous approaches in how they engage in CSR through online GRI reporting. McDonald’s has also invested in numerous approaches so as to attain the same. The paper recommends that while there are numerous approaches to attaining CSR such as sponsorship, contribution to good cause and humanitarian services like supporting victims of disasters, campaign on safe driving, supporting terminally ill and hospices, having foundations that deal with education and diversity management. The critical approach that can have effect to the whole society and universe as a whole is sustainability reporting. Thus, the paper advocates for the fact that the ultimate focus of CSR should be sustainability reporting. Contents Executive Summary 1 Contents 2 1.0 Introduction 1 2.0 Research Questions 1 3.0 Data Collection Methodology 2 4.0 Literature Review 2 4.1 Concept of Corporate Social Responsibilities and Purely Profit Driven Business 3 4.1.1 Concept of CSR 3 4.1.2 Purely Profit Driven Enterprises 4 4.2 Vested Interest and Business: Stakeholders Analysis 5 4.3 A New Paradigm on CSR: Sustainability Reporting 7 5.0 Results 8 5.1 Significance and Impact of CSR Reporting for Multinational Companies and Society 9 5.1.1 Sustainable Development through Sustainability Reporting 9 5.1.2 Improved Brand Image and Promotion Opportunity 13 5.2 How Companies Manage CSR and Adjust the Variety of CSR Reporting Standard for Different Nation 15 5.2.1 How Companies Manage CSR 15 5.2.2 How Companies Adjust the Variety of CSR Reporting Standard for Different Nation 16 6.0 Conclusion 17 7.0 Recommendations 18 References 19 Corporate Social Responsibility and Multinational Corporations 1.0 Introduction With the emergence of sustainable development concept and ethical approaches to doing business, firms can’t peg their growth on revenue realized in any financial year. Instead, other parameters have evolved that calls for a paradigm shift in evaluation of performance (Geraghty, 2010, p.141). This realization has been shaped by various socio-economic and political factors. One critical factor that has been advanced by pro Corporate Responsibility advocates is the adoption of Kantian ethical framework. This theoretical propositions inculcates normative thinking whereby individual, society and cooperates are urged to engage in what is morally upright without looking at what is in for them. In a holistic view, it has been proven that the nexus between business and public is inseparable. This implies that business can’t prosper without the public who are their customers. It is therefore prudent for corporate to show some levels of appreciation to the host society or the country at large for being presented with an opportunity to exploit resources in that region for value addition and income generation. Essentially, this is what can be seen as corporate social responsibility (CSR). The hallmark of this would be improved positive rating that would then allow the firm to exploit more opportunities and thus, guaranteed growth (Geraghty, 2010, p.143). The aim of the paper is to explore the concept of corporate social responsibility and multinational corporations. 2.0 Research Questions In order to address the concerns highlighted in the problem statement through the methodology outlined above, the study aims at addressing the following questions. The first question that the paper answers is why CSR reporting has become an essential factor for multinational companies. The second question to be addressed is the impact of CSR to both society and the company. These first two questions are combined and answered in one subheading that is significance and impact of CSR on multinational companies and the society. The third question that the paper answers is how companies manage CSR. The last section addressed in the study is how multinational corporations produce up to standard CSR and how they align them to local contexts. 3.0 Data Collection Methodology To present a discourse on the above said topic as outlined in the problem statement, the research relies on a number of secondary sources. The first important source of information is the peer reviewed journals. Next batches of sources are books, websites and web document. These sources are used to develop the required literature and case studies of how certain multinational companies have been conducting their CSR. Further, the study will rely on information posted on the companies’ websites as the critical source of information about their CSR activities. 4.0 Literature Review If we were to have a continuum of companies in a linear manner, we would end up with two extremes. The first is those that are purely operated on financial success without looking at the impact they have on environment and on the people. The would be those that care so much about their environmental and social impact with reduced urge for financial success. The point that would worth exploring then in the literature is how the two extremes can be balanced so that the interest of various stakeholders are met and how the companies can ride on the positive reputation to enhance market leadership. 4.1 Concept of Corporate Social Responsibilities and Purely Profit Driven Business 4.1.1 Concept of CSR From a subjective, perspective, it is the onus of any government to ensure that companies are not purely profit oriented so that they only focus on exploitation of resources without looking at the social and environmental aspects. Most governments having the ball laid in their courts have formulated policies relating to equal opportunity employment and non-discrimination factors, safe working environment for employees and sustainable development. The binding argument for this empowerment is best exemplified by Max Webber argument that individual rationality can be substituted with collective rationality. However, business that are proactive in their operations have realized that there is no need to wait for government regulations and base their approaches of share-holder value approach only as advocated by Adam Smith, but to take the lead initiative in balancing between returns, social impacts and sustainable environment (Pigou, 1920 cited in Benabou & Tirole, 2010, p.1). The next informing factor between purely profit oriented approach to business and a balance between the three factors mentioned earlier is the Kantian ethics and the concept of good faith/ bad faith. The theory of Kantian ethics urges every element of the society to engage in what is morally upright. The basis of this theory is for individuals or act in good faith by adhering to honesty and openness among others in any contractual agreements such as social contracts (Zeller, 2003, p.4). According to Iamandi (2007, p.6), in CSR we can have three categories. However, he notes that the hallmark of all the three that should be adopted by interested corporate bodies is the societal approach. In the societal framework as an approach to CSR reiterates the need to incorporate the elements of social democracy and socio-economic aspects in one mix. The ultimate result of this mix would be a democratic society with economic freedom that is premised on advancing the social welfare of a given society. Iamandi (2007, p.7) provides a critical literature on why companies engage in CSR. The first observation that he makes is linked to pragmatic and rational reasons. Under this observation, the author notes that it contributes towards enhancing the image of the globally in the public eye. From marketing, there is no important aspect as having a higher reputation among customers. With good brand image, a company is able to ride on the positive ranking to make higher sales and thus, the investment in CSR turns to be part of promotion strategy. The next factor that Iamandi (2007, p.7) provides is tied to deontological view. In this framework, he posits that any corporate organization has a moral obligation to the public or to people who leave in the areas they operate as they are there customers. The last is the social pressure. In this approach, he opines that is a risky path that is tied to peoples’ power as they will demand through collective bargain and through institutional arrangements an obligation from corporate body that enjoy the privileges of operating within their borders (Iamandi, 2007, p.7). 4.1.2 Purely Profit Driven Enterprises One of the approaches that can be used to examine why companies be a purely profit driven entity is the utilitarian concept. Utilitarianism ethical theory is in principle related to the theory of hedonism. These principles reiterate that the actions, behaviors and policies of individuals are geared towards achieving pleasure and avoiding pain. As such, humankind will always act, behave and formulate policies which enable leads them towards the acquisition of wealth, power, position, good health, as well as virtue among others. These enhance individual’s chances towards achieving or maximizing pleasure while avoiding pain (Sunita, 2005, p.112). This approach is based on Friedman (1970) cited in Iamandi (2007, p.6) view of businesses. He noted that “the Social Responsibility of business is to increase its profits”. The concept later expanded to stakeholder’s approach where it was seen that stakeholders had the power of impacting on business operations (Iamandi, 2007, p.6). 4.2 Vested Interest and Business: Stakeholders Analysis To build the basis of argument for this paper, it is important to indulge and look into the expectations of the stakeholders in the business fraternity. The essence of this is that different stakeholders have different expectations which they would want to be achieved. These expectations are like a cross road to corporate management since some are incompatible and if they were to be addressed all, then there has to be a compromised middle ground. There are various theories that can be used to explain human expectations and how they are shaped. These expectations if not met are likely to cause reluctance, withdrawal and even social unrest. The understanding of stakeholders’ expectations is important in defining how the concept of social responsibility has grown and how businesses have gradually shifted from pure profit oriented approach. This is based on Caroll (1991, p.40) that factors like sustainable development, occupational health & safety, consumer safety and equal employment opportunities have given rise to CSR. Expectation theory addresses how people behave or feels motivated in relation to the concept “what is in for me”. Victor Vroom (1964) cited in Brim (2012, p.3) notes that human beings align their mode of operation in a certain way so as to attain desired goals. Let’s incorporate this mode of argument into the concept of CSR and stakeholders expectations. For instance if the business is not of good name in the society they are likely to shun it even through mass action because their expectation is not met. A case example of this is the happenings at Ogoni land in Niger Delta where they destroy the pipelines laid by the oil exploiting companies whom they feel are not investing back into their community. Thus, the host community aim is to have a responsible business that has a good reputation in terms of employment policy, diversity and environmental conservation among others. The other is the employees. Their role is to provide man power that enables company to create value. In return they expect to be rewarded by the firm. This reward can only come when organizations make profits. On the other hand, investors will shy away from businesses that operate like charities since they do not guarantee higher returns. This then calls for a mid ground approach. The same can be analyzed in the context of bounded rationality framework. Jones (1999, p.297) notes that “decision makers are goal-oriented or rather objective and adaptive in their decision making. As such, in bounded rationality decision makers are intentional in their decisions”. The later argument if is applied to shareholders it would mean they want return on their investment, and thus would not invest in non-performing sectors. This results into the fact that the ultimate goal of business shareholders is to earn revenue from their business. This means at all cost, the business has to make profit by creating value to the end customers and locking them in. For customers, their ultimate aim is to satisfy their needs by buying goods or services that create value to them. This means there has got to be employees who are innovative enough who can then exploit the natural resources at community’s disposal for value addition. For employees they expect to work and be rewarded. In addition, employees expect to work in the environment that is safe, healthy & free from discrimination and offers opportunity for development. For them to be rewarded the business should make profits. The government aim is to offer level playing field by ensuring that businesses comply with legal provisions (Iamandi, 2007, p.5). the complexity of all these is that they are at a time competing or contradicting and that an individual can fall in more than one category of these stakeholders. The above framework shows that CSR is bigger than economic success and legal provisions. One has to be ethically and philanthropically responsible (Caroll, 1991).The advantage of the above approach is that the company is guaranteed higher profits, but this is in short term especially when a new competitor emerges. The reason behind this is that while the company made profits, it has no good public relations with the society. The basis is that they internally do good, but externally bad. 4.3 A New Paradigm on CSR: Sustainability Reporting The main reason that sustainability reporting should be encouraged at all level of firms is that it shows the degree of commitment by various forms on prevention of environmental degradation Aras and Crowther (2008, p. 279 and 280) observes that the rationale for promoting sustainability reporting is tied to the fact that it indicates the level in which a firm is committed to addressing environmental conservation. This basis is strengthened by the fact that the long term performance of business is directly associated with the sustainable environment we are able to create (Geraghty, 2010, p.142). To attain the conservation goal, businesses have to reduce the amount of waste emitted and reduce amount of energy consumed in addition to other measures. Secondly, firms have to recycle and reuse other by byproducts that might be treated as waste instead of disposing them off. Addressing the above three Rs would imply a great deal of environmental management program (EPM) through safety health and environment (SHE)/ occupational safety and health (OSHA), environmental impact assessment EIA and auditing. The basis of drawing wider input and critique is by making it public, participatory and embracing peer review (Hubbard, 2011, p.825; Isenmann, Bey and Welter, 2007, p.489). An information/reporting system only becomes useful if only it is acceptable across board by all stakeholders. Effective information is that which is acceptable across the divide. This implies that while doing sustainability reporting at least, the firm should ensure that a higher fraction of stakeholders support it. For the case of sustainability reporting the significant stakeholders are the public, company shareholders and the management. According to Isenmann, Bey and Welter (2007, p.489 and 490) reporting through online or through traditional reporting format the following should be addressed. The first basis is public participation, it should have a customized approach and lastly, it should embrace dialogues as there are numerous stakeholders with varying interests. Hubbard (2011, p.825, 826 and 827) provides an informative list of the different kinds of approaches that corporate can use to report about sustainability. The list include holistic sustainability framework, GRI, eco management & audit schemes, and balanced score card. However, he advocates for adoption of GRI format as it is acceptable across wide divide. 5.0 Results The outcome experienced by companies which engages in CSR is discussed in the context of research questions. The results draw from the literatures interrogated and case studies of companies. 5.1 Significance and Impact of CSR Reporting for Multinational Companies and Society 5.1.1 Sustainable Development through Sustainability Reporting There are numerous advantages that can arise out of corporate social responsibilities. The first advantage can be analyzed from the context of sustainability reporting. Sustainability reporting falls in the context of conducting business in ethical manner. One of the significance that is likely to arise from sustainability reporting perspective of CSR is the protection of environmental integrity as firms will be working to reduce their impact on environment through various environmental management programs Aras and Crowther (2008, p.281) notes that it is a common knowledge that survival of humanity and that of corporate is linked to environmental well being. The same has been proven by ecologists. Hence, corporate as one of those who rely on physical environment for their growth and performance should be proactive in this endeavor. 5.1.1.1 A Case Study of Sustainable Development: Nokia’s Environmental Strategy Nokia Corporation’s vision with regard to ensuring environmental strategy is to ensure a world where people are connected and contribute to development in sustainable manner. The company strives to be a leader in sustainable and healthy environmental practices. With this regard, the company has laid down strategies to help in the reduction of adverse environmental impacts of its industrial operations, logistics and mobile devices (www.nokia.com, 2012). The company therefore, has formed close liaison with various partners. For instance, it has agreed with suppliers and transporters to reduce negative environmental impacts of their activities and promote environmental sustainability (Olson, 2009). Overall, Nokia Corporation is focused on and determined to shaping its activities to conform to acceptable environmental ethics and promote the best environmental practices. Nokia acknowledges that alone they can do very little in realizing their environmental goals. The company has a subscriber base of more than a billion people across the world and engaging their subscribers will be a plus in their endeavor to enhance sustainable environmental performance. To achieve this, Nokia Corporation is therefore focused on offering mobile devices and solutions that enable its subscribers to make choices that foster environmental sustainability. Strategies formulated by the company are based on international environmental principles, ethics and standards which go way past legal and regulatory adherence. Environmental issues are seen as integral part of Nokia’s activities (www.nokia.com, 2012). The strategy by Nokia in ensuring sustainability of the environment is on reducing the negative environmental trail of their activities. This begins from raw material extraction, transportation, manufacture, supply and ending with processes of waste treatment, recycling and recovery of both defective and used products (Olson, 2009). This is made possible via high quality production and design processes and better materials recycling techniques. Figure 1 bellow represents the process of minimizing adverse environmental impacts (www.nokia.com, 2011). Figure 1: Nokia product life cycle Figure1: Nokia product life cycle. Source: www.nokia.com, 2011. Nokia environmental strategy focuses on four basic environmental concerns. First, the strategy ensures quality substance management. The idea here is to ensure precaution is taken by determining the contents of substances that Nokia uses in designing and producing their mobile devices (OECD, 2008). Nokia also embraces the use of more environmental friendly substances like recyclable plastic materials and metals. Secondly, is ensuring minimal energy use in their operations and also by their mobile devices. Third is taking back and recycling of used Nokia mobile devices. This will entail informing Nokia mobile devices subscribers’ through awareness on recycling via campaigns and strategic initiatives. Lastly, the strategy also emphasizes environmental sustainability via mobile applications. The ‘‘ovi store’’ Nokia mobile application enable people to freely access environmental friendly downloads, popularly referred to as ‘‘eco services’’ (www.nokia.com, 2012). 5.1.1.2 Nokia’s Green Logistics Nokia Corporation takes the responsibility for all the adverse environmental effects of their actions as a leading manufacturer of mobile devices around the world. The strategic framework adopted by the company to mitigate negative environmental impacts of their operations is dubbed ‘‘life cycle thinking’’ (nokiasiemensntwork.com, 2008). Various company activities are subjected to environmental assessment. Transportation of finished mobile devices and components to manufacturing sites from suppliers, take back, reuse and recycling of obsolete mobile devices are all part of the ‘‘life cycle thinking’’ strategy. Through the strategy, Nokia has been able to provide logistic guidelines on the green logistics to all service providers. The company is also about to complete laying down strategies and targets aimed at reducing emission of greenhouse gases into the earth’s atmosphere by the year 2012. Some of the areas Nokia Corporation is pursuing with regard to green logistic include using alternative transportation methods, environmental friendly packaging, optimization of the network, research and planning among others. According to Nokia, they have embarked on cutting down on the size of packaging most of their mobile devices and new development initiatives on green logistics have been underway since the year 2006 (nokiasiemensntwork.com, 2008). The company is planning to use rail, sea and road transport instead air for its future operations. In fact, some volumes of cargo transport have already been shifted to sea transport. These strategies also include carbon dioxide consideration in green logistics customer satisfaction, optimization of the network and cost reduction strategies. Nokia Corporation is also open minded and accepts new and better green initiatives from across the logistics industry. Nokia has also expressed willingness to form partnerships with other stakeholders in various industrial sectors in furthering and implementing new initiatives with regard to the green logistics (Olson, 2009). The company has developed a very wide green logistics network that has focused on determining the exact amount of carbon dioxide resulting from emissions by the operations of Nokia. By so doing this enables the company to track how its green logistic initiatives are doing towards realizing the carbon dioxide reduction goal (OECD, 2008). Nokia Corporations also strives to ensure that all its initiatives and operations with regard to green logistics comply with the green house gases (GHG) protocol’s standards. 5.1.2 Improved Brand Image and Promotion Opportunity Nijssen and Frambach (2001, p.117) defines a brand as “a name or rather a trademark that is associated with a given product or the manufacturer/producer of such a product” American Marketing Association, observes that a “brand” apart from being a trademark or a name also signifies, symbol, design, or a sign or a combination of both. These factors are then used by companies to distinguish their services and products from other competitors. (Ghani, 2012, p.147). the hallmark of ensuring a highly valued brand name is not without a cause. According to Datta (1996, p.799), branding has become critical ingredient of culture and the economy. Engaging in CSR offers a company a platform of marketing perspective through opportunity to conduct promotion. Through the opportunity that engaging in CSR offers, a company is able to build a good reputation among the public and hence, build its brand image (Geraghty, 2010, p.143). Having an improved corporate image of brand image is sure ways of making your products have value to the client. Value is not only the tangible bit that one derives the satisfaction of use, but also the belief that these people care and hence, endeavor to deliver a product that guarantees future of humanity in one way or another. According to Abrahamsom, Forsgren & Lundgren (2003, p.4), one of the opportunity presented by indulging in CSR is the opportunity to exploit marketing mix of promotion. For instance, they indicate that if a company has sponsored a community event, they can still have the opportunity to advertise, have a customer contact point at the venue so that they can conduct sale or receive feedback from the public who are the customers. Being presented with opportunity to advertise and have contact with customers implies an opportunity to create a long lasting brand image and thus, an opportunity to create brand salience. There are various deliverables in CSR that a company can implement so as to enhance their corporate or brand image. These include cause promotion community volunteering and cause-related marketing (Iamandi, 2007, p.8). Kim (2012, p.3) postulates that CSR can empower a firm to create a long lasting mental image about a company or a product by having a psychological impact on them. To magnify this example and substantiate it, imagine a scenario where a certain region is facing massive starvation or floods and a company sends them relief food and other humanitarian interventions, this historical happening is likely to stick on their memory and can make the public be attached to that brand as a responsible organisation. Kim (Kim, 2012, p.3), indicates that’s since a company is able to build interpersonal relationship with the public/ community, the consumers will relate with that brand name and thus, creating psychological attachments. In a nutshell, corporate social responsibility is equally an aim of the business since it contributes to that desired profit. The context can be summarized through a marketing perspective. Marketing forms a significant feature of bringing together the firm, market and the product (Aaker, Kumar and Day, 2001, p.3 & 4). CSR forms one of the approaches to marketing and part of a integrated brand promotion approach. Integrated brand promotion connotes the efforts that firms create to convince consumers to purchase their products (O’Guinn, Allen & Semik, 2011, p.39). 5.2 How Companies Manage CSR and Adjust the Variety of CSR Reporting Standard for Different Nation 5.2.1 How Companies Manage CSR There different approaches that can be used to manage CSR. Werhane (2010, p. 696) provides an insight on various frameworks and standards that can be used to manage CSR by various companies across the globe. The frameworks that Werane (2010) provides include the Global Economic Ethic (GEE) approach to managing CSR and the United Nations Global Compact (UNCG) approach to managing CSR. While there are other approaches to conducting CSR, these two approaches are well explained with limited performance gaps (Werhane, 2010, p. 696). In her analysis, the GEE framework or approach is based on Kantian ethics and good faith concept whereby it encourages corporate to avoid evil and promote good. This means that for companies who embrace this approach, in whatever they do, they must do well to humanity directly or indirectly. The same approach calls for companies not to engage in activities and process that can impair the health of her employees. This means application of SHE and OSHA. Moreover, the approach calls for sustainable approaches to use of environment as outlined in article six of the same. 5.2.2 How Companies Adjust the Variety of CSR Reporting Standard for Different Nation How companies manage CSR is of importance. Companies have outlined various strategies of how they manage their CSR. To show how companies manage their CSR especially in sustainability reporting the paper will utilize Toyota Australia and McDonald Australia as a case study. Toyota Australia engages in sustainability reporting through online GRI format. Hubbard (2011, p.826) that the most preferred platform of reporting is GRI. GRI format normally encompasses factors such as firm’s social, environmental and economic impacts. Toyota Australia ties their sustainability plan to climate change and global warming. The reason that they have shifted their focus to this phenomenon is based on the anticipation to carbon constrained economy where corporate will be taxed through polluter pay principle. To address this, they realize that the most contributory factor to climate change is carbon and in their internal assessment they realize that the likely source for the same is from electricity and gas they use. Thus in their 2011 sustainability plan, they aim at curtailing the amount of carbon that they emit annually. In addition, by utilizing technology, they are now producing hybrid cars that are environmentally friendly in mass (Toyota Australia, 2011). Moreover, they have embedded the concept of “Kaizen” into the whole process. This would see them address the issue of carbon emission from a holistic perspective of cradle to grave (Toyota Australia, 2011b, p.6). as per now, the approach has enabled them curtail carbon dioxide emission from 197, 099 tons in 2007 to 145, 469 in 2011 (Toyota Australia, 2011b, p.11). McDonald Australia in their domestication approach to sustainability reporting, have formulated five principal issues. However, their chief focus is on restaurant operations in relation to sustainability as it is the main contributor to environmental degradation (McDonald Australia, 2010, p.20). in this internal evaluation, the thematic areas that they say are of critical concern include energy use and green gas emission, waste generation and water consumption. As approach to aligning themselves to carbon constrained economy, they were the first quick service restaurant to sign Green House Challenge Cooperative Agreement. Moreover, they participate in Energy Efficiency Opportunities Program that obliges them to initiate energy efficiency measures. At the same time they adhere to Greenhouse Gas Emission Reporting Act (McDonald Australia, 2010, p.21). 6.0 Conclusion While it’s the onus of every business to be successful by making profits through creation of value to end customers, the success of business cannot be measured in terms of profit recouped alone. Businesses extract a lot of resources from the host community and nature which calls for them to behave responsibly. This means going outside the boundary of being responsible to shareholders, the business itself and government. For a firm to gain a positive public image, it has to uphold social and economic ethics despite of the existing legal frameworks. These include philanthropy, sponsorship and sustainable development. The beauty of this is that apart from good image, it can be used as a marketing avenue through promotion. Thus, it is not true that the role of business is to make profit. The argument is that with the changed socio-economic and political environment this is not sustainable. 7.0 Recommendations While there are various platforms for companies to engage in CSR such as event sponsorship, support during disaster, having foundations that offer scholarship and support the vulnerable. These only a target a section of the society in which they operate in. best platform that companies should adopt as new paradigm to CSR is sustainability reporting. The argument is based on the fact that the world is faced with the dilemma of climate change as a result of global warming and multinational companies being one of the contributors and users of natural resources should contribute towards realizing sustainable development by reporting on their impact on environment and how they are reducing on the same. While implementing CSR companies should not be seen as only wanting to enhance their brand reputation, but as a means of saying thank you to the host community. This then calls between the balancing of personal interest of the company and the host community. 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