Csr As A Function Of Business

1469 WordsMar 5, 20176 Pages
CSR as a Function of Business: Corporate Social Responsibility is a major part of The Home Depot and should be considered a function of all businesses. It is, in part, the reason why shareholder wealth is maximized and precisely why it should be considered a function of business. For some businesses, the level of CSR should be higher, based on the size of the business, the number of employees and other stakeholders as well as profit margins and impact on communities and the earth’s natural resources. Some argue that CSR should not be a part of business because they think it is the government’s job to address the environmental interests of the society. Another argument is that the priorities of CSR are subjective and it is difficult to…show more content…
Unintended Consequences: When policies to implement social responsibility are adopted, the direct financial impact on goods and services is evident; for instance, as part of its CRS strategy, Home Depot has partnered with Energy Star and according to the company’s 2016 responsibility report, the result of that partnership saved customers over $701.6 million in annual energy utility costs. More savings brings more sales. Additionally, a solid CSR demonstrates a level of ethical commitment and in today’s world, consumers are looking for that. Consumers will intentionally seek out products from suppliers who have CSR policies in place (“Resources & Reports”, 2016). As a consumer, I have paid higher prices to companies offering sustainable products. Part of my motivation is to support fair trade suppliers and other motivation is saving money. From time to time I purchase Puroast coffee, it is $3 per pound more than my usual Seattle’s Best brand, but it is organic, low acidic and it is a fair-trade product. I justify the fair trade as a reason to purchase the product, knowing that my Seattle’s Best tastes just as good and is easier on my wallet. Saving money is my second motivation and I will pay a little more for a product that will save money and earth’s resources in the long run. An example of this is my new refrigerator. I purchased it at Home Depot, it is an Energy Star rated product and thought it was slightly more than another one I liked, it was
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