Csr Continues To Gain Awareness As Globalization Offers

1616 Words7 Pages
CSR continues to gain awareness as globalization offers new challenges and opportunities for businesses to ensure a difference in their communities. Consequently, as Target continues to increase its efforts toward CSR activities to remain competitive, so does its competitors. For example, similar companies that compete directly with Target include Walmart and Costco. However, Target’s consistent activities toward CSR are in line with its competitors (See Table 3). Therefore, to maintain its competitive advantage, Target must continue to review its business and societal issues. For instance, it should work with its stakeholders, as well as its team members, customers, and partners to “gauge where Target can drive and contribute to…show more content…
Success in this new ‘Responsible Sourcing’ vision will require making sustainable efforts to collaborate and communicate with upstream suppliers, encouraging the kind of innovation and change needed to make safe products (Ley, 2017b). Target has ‘$5m earmarked for green chemistry by 2022’, but will have to eventually increase this, if the company wishes to show a stronger commitment to this new CSR strategy (Ley, 2017a). A bid to render transparency a ‘key aspect of the responsible sourcing strategy’ will require improving the assessment and reporting aspects of CSR initiatives (Ley, 2017). As a result, this will necessitate investing in analytics professionals/software and digital reporting tools necessary to render a fair assessment of its CSR progress. Transparency will be essential because people now care what they put on and around their bodies; about what’s in their products (Ley, 2017b). The responsible thing to do is for Target to leverage stakeholder engagement by adjusting the content, format, and frequency of the company’s CSR reports. The company should be using positive CSR information, as a global publicity tool if it wants to be a global leader in CSR. Improve the CSR Process Continuous improvement is necessary for managing CSR because corporate, social and technological changes happen over time. Target will, therefore,
Open Document