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the interests of the society by being considerate of its impact on the society, customers, shareholders, suppliers, employees, communities and the environment in which the business operates from. Socially responsible organizations take the initiative of following the laid down legislation and also takes care of its employees and their families voluntarily without being under any obligations (p.199).
They continue to say that CSR just means the strategies that organizations use to conduct their business ethically by being society friendly. CSR involves a lot of activities like partnering with local communities, investing in socially sensitive ventures, having an excellent employee, customers and family relations and lastly being involved in environment conservation activities (Ismail, 2009, p.199).
According Gotherstrom (2012), organizations like H&M can use the Stakeholder theory of CSR. It involves the organization management putting into consideration economic and social factors that affect the business during its decision making in its operation.in this case the stakeholders involved include investors, political groups, communities’ employees, trade associations, government etc. These all stakeholders affect the business in one way or another but the business has to find ways and means of keeping them happy. This theory is not only how the shareholders can make more profits but also of how the organization can make decisions that will affect how the society views (p.8). The application of this theory has been on the rise especially due to the rise activists and environmental groups. (p.9) In the case of H&M, we find that it is involved in its CSR activities to atone for the condemnation that it received from Greenpeace in the year 2011for discharging hazardous wastewater with chemicals which could affect the environment negatively. This is demonstrated by the way it partners UNICEF to help children in Bangladesh.
The next CSR is Legitimacy Theory; this
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Essence of Corporate Social Responsibility and CSR Introduction The project has been done in lieu of identifying and analyzing the different aspects corporate social responsibility. The different aspects of CSR discussed in the project include, benefits of CSR, importance of CSR keeping alignment with the business objective, factors influencing CSR activities, key performance indicators for CSR, value of social reporting and the influence of Government on CSR activities.
Running Head: CSR in Organisations CSR in Organisations [Writer’s Name] [Institute’s Name] CSR in Organisations Introduction Within the global financial system, customers are becoming increasingly educated and knowledgeable, and, during the previous decade, are even turning into media owners, because the “computer connected to the Internet has become a super-medium”1.
In the process of evaluating so, the study would initiate with a brief overview on the companies chosen for the research. Further, the significance and influence of CSR would be scrutinized to discuss the limitations and value of CSR in business. The study would also include government’s influence on CSR activities.
the company can exploit its contractual partnerships to control behavior among its suppliers around the world about working conditions for the suppliers’ staff, product quality and ethical behavior. Since 2007, the company has published its annual CSR report on its website.
CSR is an important issue that promotes proactive participation of the businesses in the development of the society. It also encourages businesses to adopt ethical business practices within their operations. Ethical business practices refer to the concept of right and wrong within the business practices, operations, and decision-making processes.
de), partnerships (owned by two or more partners), cooperations (where the owners of the cooperation have limited liabilities and the business has separate legal entities from its owners) and limited liability cooperation that can be organized for profit or non – profit
In the line of business, there are other factors and circumstances that ought to be considered other than the role of making profit and it is the notion of Corporate Social Responsibility. H&M has continues to pursue policies and principles of CSR as a moral
11 Pages(2750 words)Coursework
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