Please respond to 1 & 2. please make sure responses have references.
As a manufacturer of soothing mats for babies, the firm can incorporate corporate social responsibility by incorporating environmentally friendly practices. For instance, standardizing the quality of materials (green materials) in the manufacturing process, the enterprise will minimize toxins release in the surrounding. The company can also consider better waste release and disposal methods. Besides environmental, the firm could take part in economic and social initiatives that help improve society. In incorporating CSR into the business plan, the firm ought to identify challenges faced by the community and come up with programs that offer a solution to the issues. The organization could, for instance, liaise with medical institutions in footing hospital bills of single young women with low incomes who give birth to premature infants. By offering assistance to the women, the organization will get to share its positive business outcomes with the community while improving societal wellbeing.
Some of the benefits of integrating CSR into the companys business are improved performance, high sales and revenues, low staff turnover, and higher customer satisfaction. The firm will experience a rise in sales from a strong brand reputation and recognition in the market. The company will also build high customer and employee loyalty that is vital for competitive advantage. Asemah, Okpanachi, & Edegoh (2013) found that CSR diminishes staff turnover and increases customer satisfaction. The enterprise will, therefore, enjoy high financial performance with a working CSR in place. Incorporating CSR into the business, on the other hand, can prove challenging due to a shortage of resources and a lack of a clear vision. According to Aseghehey (2018), CSR requires high implementation costs, which may be hard to fund, especially in small organizations. CSR programs that are not in line with the objectives of the company may prove ineffective in attaining the intended positive outcomes.
Aseghehey, M. A. (2018). Challenges in Implementation of CSR: A case study of Karlstad Bus.
Asemah, E. S., Okpanachi, R. A., & Edegoh, L. O. (2013). Business advantages of corporate social responsibility practice: A critical review. New Media and Mass Communication, 18(3), 45-52.
In recent years, organizations have begun to adopt corporate social responsibility (CSR) as part of their business format. Corporations are being more socially responsible in their practices and taking responsibility not only for their economic actions but also for the impact of those actions on society and the environment (Tata & Prasad, 2015, p. 765).
There are several ways to incorporate CSR into a business, including being more inclusive and promoting diversity, paying employees and vendors fairly, using environmentally safe business practices, and charitable donations or sponsorship (Jenkins, 2006).
One way to incorporate CSR concepts into the business plan is through a code of ethics, which is also known as professional conduct or standards. A corporations code of ethics is the documented, formal, and legal manifestation of that organizations expectations of ethical behaviors by its employees It is the visibility that a code offers that enables an organization to be judged as ethical (Adelstein & Clegg, 2016, p.55).
The benefits of integrating CSR into an organizations business plan include a more positive company image, positive development of individual behavior, and prevention of misconduct. A code of ethics is based on recognized norms that help create organizations with shared cultures that promote ethical ideologies and business practices among employees (Valentine, & Fleischman, 2008, p. 658).
A challenge of integrating CSR into an organizations business plan is when an employee experiences value disharmony with the organizations standards or codes (Valentine, & Fleischman, 2008). According to Adelstein and Clegg (2016), employees need their social and ethical values to align with their organization, or else internal conflict arises. To gain employee commitment and buy-in, employees need to participate in the process and discussions about ethics. Valentine and Fleischman (2008) found that individuals experiencing internal conflict tend to support their professional principles over organizational standards, so companies should develop standards of CSR that are better synchronized with professional criteria (p. 663).
Adelstein, J., & Clegg, S. (2016). Code of ethics: A stratified vehicle for compliance. Journal of Business Ethics, 138(1), 53-66. https://doi.org/10.1007/s10551-015-2581-9
Jenkins, H. (2006). Small business champions for corporate social responsibility. Journal of Business Ethics, 67(3), 241256. https://doi.org/10.1007/s10551-006-9182-6
Tata, J., & Prasad, S. (2015). CSR communication: An impression management perspective. Journal of Business Ethics, 132(4), 765-778. https://doi.org/10.1007/s10551-014-2328-z
Valentine, S., & Fleischman, G. (2008). Professional ethical standards, corporate social responsibility, and the perceived role of ethics and social responsibility. Journal of Business Ethics, 82(3), 657666. https://doi.org/10.1007/s10551-007-9584-0
Incorporating concepts of corporate social responsibility into the business format can be done by having a clear and concise understanding of the purpose of the business to the respective demographic. Identifying individuals and establishing relationships with individuals that share the same interests as the business in terms of CSR will create an organic alignment, thus creating a parallel interest in CSR to the business. Implementation of CSR actions within the business providing any causes to help the business community and society will serve to making a difference. Doing so will speak volume in terms of building trust and showing the communities that the business in not merely for making a profit, rather enhancing the demographics. A major benefit of CSR is that it can have a positive impact on the business financially. Employee retention theory (Cropanzano et al., 2001). poses that fairness exhibited in environments with CSR awareness affects employees positively. With this presence absenteeism is lower while performance is higher and lessens the personnel turnover ratio. Perhaps as noted by (Anderson et al., 1994) customer satisfaction is an essential focus to any business and beneficial. (LeSelleur 2014). addresses potential challenges in his TEDx independent event of integrating CSR in businesses can be stifling and lack ability to inspire is often suppressed. Everyone can potentially be innovative and inspiring, yet society stifles that ability. His reference of leadership being merged and confused with management of daily roles creates a fear of failure. This fear tends to hold back the capabilities of innovation and inspiration that one possesses.
Anderson, E. W., Fornell, C., & Lehman, D.R. (1994). Customer Satisfaction, Market Share, and Profitability: Findings from Sweden. Journal of Marketing.
Cropanzano, R., Byrne, Z. S., Bobocel, D.R., & Rupp, D. E. (2001). Moral Virtues, Fairness Heuristics, Social Entities and Other Denizens of Organizational Justice.
Journal of Vocational Behavior. https://doi.org/10/1006/jvbe.2001.1791
Seelluer, A.L. (2014, May 22). Re-thinking corporate social responsibility: Andy Le Seelluer at TEXxStHelier. YouTube. https://www.youtube.com/watch?v=jga4s0Ei7Zs