New Balance Case Study

1882 Words Oct 19th, 2014 8 Pages
Implementing a New CSR Strategy for New Balance
Introduction
New Balance is a large company specialized in manufacturing footwear products at a global level. The case study reveals that New Balance is currently committed to formulating an integrated Cooperate Social Responsibility (CSR), which will enable it to place itself in a good position in a highly competitive market (Veleva, 2010). In 2009, the company was still struggling to build a CSR, which would create a reputable name for its products in the global market. However, as Veleva (2010) illustrates, the firm faced various challenges such as lack of a CSR department, which would foresee the implementation of an integrated CSR. This calls for the analysis of the various
…show more content…
Another challenge for the company was to manage its CSR activities overseas and hence, there was a gap between its domestic CSR and oversees CSR.
Community Support According to Veleva (2010), New Balance is a company that always supported the communities in which it had operations. New Balance employees took pride in volunteering and helped the surrounding communities. According to Engardio et al. (2007), charity and volunteering are one of the major factors that enable a company to retain and satisfy its employees. Volunteering as a value was steered by the CEOs of the company Anne and Jim Davis, who embraced it and ensured that all their employees were active and valued community work. Volunteering and charity work is a value that improves public relations of an organization, its corporate image, trade name, employee teamwork and skill building (Margolis, Elfenbein & Walsh, 2007. However, despite the great involvement in community support, New Balance community support strategy was not in line with its business strategy. The company mainly focused on the US communities and lacked a proper communication plan to communicate both to its internal and external stakeholders.
Analysis
From the strengths and weaknesses identified, New Balance should focus on three of the main areas identified with great risks: effective leadership, a structure for recognizing CSR risks and opportunities that are of great importance to the business and aligning of
Open Document