Management in a Globalised World - Assignment Example

Increasing number of companies concentrate more resources, time, and efforts for being a true corporate responsible citizens. Corporate Social Responsibility (CSR) as a concept has many various definitions and interpretations. CSR is defined as a “management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders” (United Nations Industrial Development Organization, n.d.: n.p.). Therefore, CSR is a concept built upon three major pillars, including: economic, social, and environmental.

There are numerous social and environmental issues, which the companies may address in order to improve social welfare and contribute to positive environmental footprint. The key CSR issue vary from environmental management, responsible sourcing, and eco-efficiency to labour standards, social equity, employee and community relations, etc. (United Nations Industrial Development Organization, n.d). As it is forecasted that the world population will exceed 9 billion by 2050, the problem of fresh water supply will be quite serious (Brownlee and Elias, 2014), management of scarce water resources remains to be one of the important discussions among the scientists, environmentalists, and other professionals.

Mindful use of scarce natural resources such a water is also an important issue in agendas of many large corporations operating in food and drink industry. Either being driven by ethical considerations or by business profitability issues many company adopt various CSR initiatives related to responsible water management. One of such corporations is a global leader in drinks industry, Coca-Cola. Water stewardship is one of the key elements of Coca-Cola’s system and value chain (Sustainability report 2013/2014).

The company recognises the necessity to maintain a “sufficient quantity of safe, accessible water from sustainable supplies” (Coca-Cola