Csr And Product Lifecycle And Its Components Essay

Based on my interpretation of CSR, I see it as a voluntary obligation that companies have promised to their stakeholders to fulfill by improving, or at least not harm, the environmental and social wellbeing. When companies engage in CSR, they voluntarily promise to, for example, carry the responsibility to protect the environment and take actions against bribe or other corruptive activities related to their business. It certainly has some positive influences to specific areas based on my knowledge gained from other classes; nevertheless, when judge CSR in the context of total impacts on our society and environment, it is obvious that CSR has failed its mission to lessen the negative impacts of business based on the evidences that provided by the author. Also, since there is a strong positive relationship between CSR behaviors and consumers’ reactions to a firm’s products and services, it seems to me, now, that CSR for the most companies is just a fancy cover that helps them to create or promote a good image and reputation. The recent case that shows the failure of CSR of Volkswagen even make me believe that CSR programs may be just a marketing or public relation exercise for many

Life-cycle costing is an economics tool to assess the total cost of a product. Another purpose for this tool, as a management decision tool, for comparing different parts conflicts by concentration on facts, money and time. By using Life-cycle costing, total cost of the product can be calculated over the total span of product life cycle. All parties on this project, such as product suppliers, consumers and owners are benefit from LCC.

This recent reality, combined with globalization, is forcing companies to forge new kinds of relationships with buyers and countries. The financial valuation of companies are taking ever greater account of intangible elements, such as brands, patents and the company’s general image, with companies being bound to take account of these things in an effort to satisfy their shareholders. Environmental protection has become a highly motivating factor, and companies are being pressed to identify stakeholders with whom to team up. With brand value and reputation increasingly being seen as one of a company’s most valuable assets, CSR is now seen as building loyalty and trust amongst shareholders, employees and customers ( Tssa, (n.d.)).

Corporate Social responsibility (CSR) has been viewed in different ways by different school of thoughts; some see it has a voluntary initiative, while others think it’s a main part of every company’s structure and even an opportunity to improve brand. For this work, we would take the position of the later argument. It is simply giving back to the environment that you gain from. It involves protection of the environment, development of quality of the occupants of the environment and improving their quality of life. Like Barnard (1938), it is analyzing the social, economic, moral, legal and physical aspects of the environment.

Background to CSR - In this environment, the impact of behaviour, values and ethics on achieving a company's strategic vision represents a timely and valuable undertaking. This behaviour, often called Corporate Social Responsibility (CSR) is a new focus on ethical and social issues (Sen & Bhattacharya 2001). CSR leads marketers to the notion of both global and stakeholder responsibility, and an organizational system that begs for sustainability not just to outlast the competition, but to increase customer loyalty, presence in the global market, and a stronger unification with the political bureaucracies. There is a clear integrative framework involved that impacts the idea of sustainable marketing concepts (Maignan & Ferrell 2004). Indeed, at the same time, "culture" has changed, too; there is likely not a country in the

One of the leading companies that adopted CSR as a pioneer of ethic is The Body Shop. The company has used CSR as a competitive strategy in order to succeed in business. The shop owner knows what she does best. So, products are developed based on a specific group of customers in order to create a strong brand preferences and unique way with a perception of enormous customer groups, called sustainability ideals. The source of The Body Shop success is to utilize the benefits of CSR by selling products based on natural ingredients, paying a fair price and no testing on animal. According to porter (1985), he claimed that sustainability of differentiation depends on two things: "it is continued perceived value to buyers and the lack of competitor ability to imitate it" (Porter 1985 cited in Mallin 2009, p.71). It requires a transparency of work process with stakeholders. From this example, it explains why CSR is important to modern businesses like The Body Shop (Mallin 2009, pp.59-78),(Kwapong 2005, p.89).

Dr P Chitramani and Ms Deepa S., in 2013, presented a case study of Employer Branding of IT companies in India. The case study method was adopted to study various initiatives taken by selected IT companies of India to build strong Employer Brand among the people. Only three companies TCS, Infosys, and Wipro was taken under study and it was found that for last five years the trend of CSR activities has increased to build the Brand and to stand out from other competitors in the

I understand your concern regarding the total-life-cycle costing approach to product pricing being a waste of time and

With the spread of social marketing and CSR in the world, organizations tend to not only consider the consumers’ demands and the companies’ profit, but also take the consumers’ and societies’ long-term benefit into account. Hildebrand,D,et,al (2011) demonstrated that the CSR activities can make up the central, special and core characteristics of the company identity, the identification of the corporate can also be aroused due to CSR activities. Moreover, Porter and Kramer (2006) highlighted that CSR can aid companies create the ability to achieve corporate resource so as to build a sustainable and defensible competitive position. So the companies should consciously undertake corporate social responsibility.

Humans are born with the natural tendency to aid one another through mediums such as being proactive on social as well as ethical issues. When one compares this natural tendency to the industries of today, one see’s this voluntary behaviour in a deliberate and compelled act by most involved, which is truly known as Corporate Social Responsibility. Corporate Social Responsibility (CSR) is known to be the voluntary model that is not only used by many businesses, but industries themselves to self-regulate their active compliance with the law, ethical standards within their respective sectors alongside achieving their economical success. CSR initiatives may contain consumer’s welfare and providing them with true knowledge of products, animal welfare, employees welfare as well as reducing environmental impacts. Today, many businesses involved and those who directly fall under the food industry lack the voluntary act to carry out CSR initiatives and this can be seen through consumers’ behaviour and attitudes, animal welfare as well as environmental impacts.

Corporate Social Responsibility (CSR) is becoming an important aspect when it comes to running a business because it shows the people that how much a company values its customers and its society. CSR is known to be a business approach that contributes to the sustainable development by providing economic, social and environmental benefits for all shareholders. Nowadays, the majority of the companies are starting to adopt the CSR approach in their business models due to its benefits such as helping the environment, lowering cost of operation, promoting safe workforce, etc. More on, the biggest benefit of all is that it makes customers and employees happy, and that brings in more revenue and productivity into the company. According to an article by better business journey, “88% of consumers said they were more likely to buy from a company that supports and engages in activities to improve society.” This study proves that how much important it is for a company to engage with its customers. When it comes to CSR, the first company that comes to my mind is the Walt Disney company due to their engagement with the society all over the world. I think Disney has become one of the biggest company that has embodied the CSR approach in their business model and continuously contributes to society to make the world a better place. In this paper, I will be focusing on Disney’s CSR report and discuss its positive outcomes.

A product is like a person. It is born, grows up, matures and then passes away. The product life cycle discusses the stages which a product has to go through since the day that is comes out to the day that it is taken off the shelf. However, the difference between a human dying and a product is that the product is killed by someone. Either the company or by competition. There are several products in the market that have been around forever and there are ones that don’t make it very long. That is why the Product of Life Cycle comes in four stages.

The aim of this study is to examine the effect of perceptions towards CSR activities on brand image from consumers and employees perspective. Five objectives are undertaken so as to accomplish the aim.

For these results, it is recommended, CSR should be adopted by all fashion/lifestyle brands, whether as core business value

CSR can improve the company’s reputation and branding and this in turn improves the prospects for the company to be more effective to attract new customers and increase market share.