The Importance Of Csr And Its Reputation As A Leader Of...

Despite being costly to businesses from one end, these businesses understand the risk that lack of CSR can have especially in damaging their reputation. The negative image associated with the company will result in boycotting their products or lack of appeal in them which hurt businesses. In order to effectively manage CSR, businesses have realized that the traditional tools are failing in the delivery of goals and new tools have been devised for the same. According to Auld, Bernstein and Cashore (2008), companies stand to gain from CSR though they at liberty to use either defensive or offensive approaches. In this case, a business can use CSR to gain competitive advantage or avoid disadvantages associated with the same. Some of the advantages include: Positive Corporate Image: As mentioned above, Nestle is recognized for its reputation as a leader in corporate responsibility. This recognition has gone a long way in polishing its image in global standards which has resulted in a positive brand. Business image is significant to any business in terms of securing positive relationships with stakeholders who associate the brand with sustainability. As a result, any negative publicity is easy to wade off and remaking troubled segments becomes easy. Competitive Advantage: the positive brand image and transparency that comes with CSR plays a significant role in pushing a business’ stakes in the market. The transparency created as a result of better engagement with stakeholders isShow MoreRelatedThe Link Between Corporate Social Responsibility And The Competitive Advantage Of A Company1332 Words   |  6 PagesIntroduction The purpose of this essay is to show that the link between Corporate Social Responsibility the competitive advantage of a company is often viewed to be positive if environmental limits, social needs corporate interests are all coordinated within the given framework (Porter Kramer, 2011). Corporate Social Responsibility (CSR) can be classified as the actions of firms that contribute to social welfare, beyond what is required for profit maximization (McWilliams, 2015). EconomistRead MoreThe Importance Of Corporate Social Responsibility Development1196 Words   |  5 Pages Introduction Recent decades have witnessed the importance of Corporate Social Responsibility development in business landscapeï ¼Å'which is defined as be responsibility to all corporation activities with environment sustainable. Whether a small enterprise or a multinational company, CSR is an integral part of company to promote brand imageï ¼Å'enhance social harmony. And it also become a standard of company working measurement. Internallyï ¼Å'the CSR activities give staff respect and welfare, and for externalRead MoreThe Modern Era Of Social Responsibility1523 Words   |  7 Pagesimplement. Through effort and diligence, corporate and organizational leaders can responsibly serve the global community in which they provide goods and services. Corporate social responsibility, otherwise known as CSR, has been a topic of interest for centuries. However, the modern era of social responsibility didn’t begin until the 1950s when Howerd R. Bowen (often attributed as the Father of Corporate Social Responsibility) published Social Responsibilities of the Businessman in 1953. Here he presentedRead MoreCorporate Social Responsibility ( Csr )1167 Words   |  5 PagesCorporate Social Responsibility Introduction Corporate social responsibility (CSR) is a concept which is also known as corporate citizenship, corporate conscience or in a simple way a responsible business. It is an integrated concept of self-regulatory business model for any organisation. Corporate Social Responsibility has been in practice for more than fifty years now, which has been adopted not only by domestic companies but also by transnational company with voluntary CSR initiativesRead MoreBmw : The World s Most Successful And Sustainable Premium Provider Of Individual Mobility1536 Words   |  7 PagesBMW is a leader in the automotive industry when it comes to CSR management. BMW’s vision statement says â€Å"The BMW Group is the world’s most successful and sustainable premium provider of individual mobility† (Sustainable Value Report, 2015, p. 9). BMW has a long, established history of consistently improving their social responsibility policies and processes. In fact, BMW was the first automobile manufacturer to appoint and environmental officer (McElhaney, Toffel, and Hill, 2004, p. 104). As aRead MoreCorporate Social Responsibility : Csr1680 Words   |  7 PagesCorporate social responsibility, or CSR, is becoming increasingly important in the framework of modern businesses. Many companies do not place an emphasis on CSR because they are unaware of the range of benefits it can bring. Throughout this essay I will discuss the importance of corporate social responsibility by assessing the rewards that certain avenues of CSR conduct can bring to companies and how lacklustre attempts to do so can reflect poorly on the CSR field as a whole, resorting to questioningRead MoreEnvironmental Performance Management : Corporate Social Responsibility1052 Words   |  5 Pages Environmental Performance Management Corporate Social Responsibility (CSR) is a concept companies utilize to decide voluntarily in contributing to a better and cleaner environment. Growing concerns by leaders has realized the importance of CSR to maximize optimal profits of their firms. Companies integrate social and environmental concerns in their business operations as well as with their stakeholders on a voluntary basis. Labbai, (2007) defines CSR as a continuing commitment by business toRead MoreCorporate Social Responsibility ( Csr )1167 Words   |  5 PagesCorporate Social Responsibility Introduction Corporate social responsibility (CSR) is a concept which is also known as corporate citizenship, corporate conscience or in a simple way a responsible business. It is an integrated concept of self-regulatory business model for any organisation. Corporate Social Responsibility has been in practice for more than fifty years now, which has been adopted not only by domestic companies but also by transnational company with voluntary CSR initiativesRead MoreCase Study : Open Payday Loan Offices1299 Words   |  6 Pagesallowing the Corporate Responsibility Committee to play a role in the decision to open payday loan offices. This report is based on the involvement of Corporate Responsibility Committees in other organizations and their benefits to those organizations. CRCs are responsible for listening to the concerns that society has about their business. Listening to and acting on those concerns can create many benefits for the organization. These benefits include maintaining our excelle nt reputation, gaining moreRead MoreCorporate Social Responsibility: A case study of The body shop1223 Words   |  5 Pagesï » ¿Explain with examples what is meant by Corporate Social Responsibility and discuss why it is important to modern business In today’s world, Corporate Social Responsibility (CSR) has been one of the topics that every company must be concerned with. It is usually viewed as a legal obligation for every company to create social benefits alongside with the profit gains (Peng and Meyer 2011, p.297). CSR is a crucial factor for our society and environment. If there is no campaign to encourage us to