Corporate social responsibility - Dissertation Example

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China Ocean Shipping (Group) Company (COSCO) is amongst the top multinational companies in the world. In the context of market share, the company is the largest logistics shipping organisation in China and is amongst the top shipping logistics companies of the world (COSCO, 2012a)…
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Moreover COSCO business practices illustrate practices that are fruitful for all (stakeholders, shareholders, workers, partners, suppliers, customers) (COSCO, 2011). In terms of social contributions COSCO is working on the principle of addressing workers to effectively participate in their community development, with its myriad activities are aligned and performed in order to participate in social growth and employees are also encouraged and supported in this regard. For instance COSCO in Singapore have been supporting Yellow Ribbon Project consecutively since five years, keeping in view that this projects has given employment opportunities to person who have been offenders previously by engaging locals in order to give them another chance. As a result COSCO is proud of the fact that many ex-criminals are now back serving societies (COSCO, 2011). Similarly in China COSCO group is very much fulfilling its duty of social responsibility by providing opportunities and supporting various education programs for needy students in China. For instance COSCO Zhoushan Shipyard devised a social activity by the name “Transfer Youth love, warm Tibetan Herdsman”. The core purpose behind this activity was to provide assistance and help for the needy Tibetan students in remote areas of Tibet. Likewise “Blue ocean plan love Tibet” launched by Trade union and youth league of Nantong Shipyard which consists of three main parts namely seagugll, seashell and dolphins was drafted in order to build a structure of support (long term) for the needy children of Tibets. The core aim behind this activity was to ameliorate literacy levels by donating basic school needs like bags, uniforms, books, toys, stationery and other material that is needed by students (COSCO, 2011). Besides these activities COSCO also provide help in terms of disaster relief and various other activities related to charity. COSCO is very much aware of the environmental issues and understands the seriousness of the matter. Therefore various innovations have been carried out by the organisation in order to come up with practices that could less effect the environment. For achieving this goal, different innovations are being carried out like the concept of GREEN SHIP OF THE FUTURE. This concept enables staff and workers to come up with eco friendly ideas and practices. As COSCO is very much keen on practicing and devising designs of ships and operations of management that best suits environment or are environment friendly (COSCO, 2011). LITERATURE REVIEW Corporate Social Responsibility Guthey, Langer, and Morsing (2006) have defined Corporate Social Responsibility as a practice of management that is garnering importance and nowadays is also considered as fad of management. Meanwhile it is believed that businesses around the world have incorporated CSR differently or CSR practices vary around the world. For instance many organisations have perceptions that CSR is an effective tool that can help confining risks and costs related to business operations (Hockerts, 2008). But only very limited amount of organisations are using CSR effectively in order to come up with originality and innovations. Likewise Blum-Kusterer and Hussain after studying 150 British and German pharmaceutical companies believes that in order to achieve sustainability in innovations, advancement in technology ...Download file to see next pagesRead More
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