Implementation of Corporate Social Responsibility Programs by Foreign Subsidiaries

Once a business realizes that it has gotten wrapped up in maximizing profit that it neglect ethics of care, the next step is to readjust and realign its core values internally and be more responsible to the environment in which they operate by showing societal care. Therefore, the aim of this report is to address the importance of realigning the business with ethics of care through involving in CSR activities, and as well as showing how these actions can impact on a company’s performance even if it may be demoralized in the society.

Corporate Social Responsibility (CSR) is something that affects all companies and should be an active factor in the company’s decision making. It is something all corporations need to care about. CSR is when business’ or corporations take part in an initiative or campaign for a cause that will benefit society and/or in some way make the world a better place (Taylor, 2015). Initially, Corporate Social Responsibility started to take shape around the 1950’s, but some say that it dates all the way back to the 1800s, the idea of CSR was seen (Carroll, 2007). One may think that because it is dated so long ago, it doesn’t have an important impact today nevertheless, it is proven that Corporate Social Responsibility is a pathway for entities to self benefit as they are in the process of benefitting society.

In this article, “The Truth About CSR,” authors Rangan, Chase and Karim stress the importance in aligning a company’s social and environmental activities with its business purpose and values (Rangan, Chase, & Karim, 2015, 41). Outcomes of CSR programs should be a “spillover” and not a primary focus of a business, expressing concern towards social responsibility and corporations failing to contribute to society accordingly (Rangan, Chase, Karim, 2015, 42). There is a great deal of importance in companies refocusing their CSR activities on a primary goal and in providing an organized process for bringing consistency and discipline to CSR strategies (42). Rangan, Chase and Karim want corporations to understand why it is important for them to evaluate their CSR activities and refocus them towards the goal of reinforcing the firm’s societal and environmental actions, while also ensuring their actions add to the overall purpose and values of the corporation. According to the authors, even though

Corporate Social Responsibility (CSR) describes programs adopted by a company in addition to their profit-making ventures. These programs are specifically intended to integrate environmental and social concerns into regular business operations. More than just charity, they act as the “conscience” of the company and balance the social and environmental actions of the company with the desires of the shareholders. (“What is CSR?,” 2015) As a multinational corporation valued at billions of dollars, Bank of America has a large impact on its employees and surrounding communities.

Current approaches to CSR are fragmented and/or disconnected from business goals. Many firms still consider CSR as another generic public relations problem in which media campaigns and CSR reports are used to paint the company as a positive ethical, social and or environmental advocator and supporter. For example, the annual reports discuss a firm’s sensitivities to CSR issues, but completely lack the entire story and offer no further forward commitments from the firm. Further, the ratings and rankings measurements are self-appointed by the firm, not always accurate to validate the work and direct impact to what they are measuring, and the criteria base varies widely and weighed differently in the final scoring. Worst of all the data lacks impartial auditors for validating the data to ensure the ratings have been accurately met, and data is statistically significant and a good proxy for what it is supposed to reflect. This has resulted in reactive initiatives designed to appease vocal

CSR lacks universal methods. The United Nations Industrial Development Organization (UNIDO) mentions that it is important to draw a distinction between CSR as part of strategic business management concept and charity, sponsorships or philanthropy. The latter applications make valuable social impacts that enhance the reputations of the companies, however, CSR is a continual effort instead of an instance. A few features that CSR should focus on are: eco-efficiency, employee and community relations, environmental management, gender balance, responsible souring, anti-corruption, stakeholder engagement and human rights. Utilizing some of these key features a company can bring competitive advantages into the market place. Increased sales and profits from operational cost savings as well as improved reputation and brand image and customer loyalty can result from a well-defined CSR strategy.

Findings were presented after analyzing the data of the correlation coefficients between the percentage responses in each category and the cultural dimensions and the distribution of responses across five dimensions. Finally the discussion and conclusions were given, with summarizing some implications of the results for CSR strategies of managers and firms operating in cross-cultural contexts.

The format of the paper includes an analysis of the merging of CSR in the business management of an organization, case for and against CSR with intent to present an overview. Further, we present a case study of Sony Australia Ltd. a wholly owned subsidiary of Japan’s Sony Corporation focusing on their CSR strategies. Finally we conclude with some observations on the affiliation of CSR and business success and the role of ethics in sustaining a firm’s competitive edge.

Corporate social responsibilities are one of the most important issues that global businesses professionals may face. Nothing will cause more problems between a business relationships than if the country or even the community in which you are forming a relationship with gets the perception the company is operating in a way that may be harmful to the country.

7.2 Interview: I will be conducting interview with Managers of both companies and try to

Furthermore, Walmart isn’t alone in its international influence and there are several other companies that have resources greater than many countries and there is little evidence that might suggest that this is a fleeting position in global affairs. Thus, given the influence of the corporate form in the modern international economic system, one of the most interesting ethical developments is the establishment of the discipline of corporate social responsibility (CSR). This analysis will consider how the CSR model fits with a broader global effort to

Corporate Social Responsibility (CSR) has become the corporate buzzword. There are as many perspectives on CSR as are multitude of companies, thinkers and experts. It has evolved majorly over the last few decades in a big way and opinions vary on what CSR actually means and what it doesn’t. At a general level it is seen to include the responsibilities of firms beyond simply contributing to economic growth, and focuses on environmental and societal concerns. As a result of the increased attention around this concept, a variety of tools and guidelines to help companies implement and report on CSR activities have been

Multinational corporations have operations in multiple countries which in turn brings together many cultures. Saying a multinational corporation has no moral or social responsibility to engage in corporate social responsibility (CSR) programs goes against what a company should strive to be. In recent years, firms have undertaken corporate social responsibility programs due to pressure from their stakeholders as well as their shareholders (McWilliams & Siegel, 2000). If a company does not believe they have to be morally and socially responsible, that company will not be around long.

In this research paper, the benefits of implementing corporate social responsibilities by a Brazilian bank are explained. Due to competitive environment in market, CSR perspectives are vital in a company strategy. A lot of research has been made on on corporate social responsibilities of a bank, but still there is a lot more to explore.

One notable example of an organization that adopts significant CSR initiatives from a developed country is Starbucks which is an American multinational corporation. On the other hand, a considerable example of a company with significant CSR from a developing country is China Mobile which is still in its global expansion stage. The China mobile company is a Chinese multinational corporation. The two different companies offer an effective platform for comparing the CSR understanding and initiatives of different organizations from the developed world and from developing countries. What makes the examples even more effective is the fact that the two companies are different stages of development in the global business environment. This makes it