Techfite: Corporate Social Responsibilities

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Social responsibility makes a company more competitive and reduces the risk of sudden damage to the company’s reputation and sales.

The expectation that businesses behave responsibly and positively contribute to society all while pursuing their economic goals is one that holds firm through all generations. Stakeholders, both market and nonmarket, expect businesses to be socially responsible. Many companies have responded to this by including this growing expectation as part of their overall business operations. There are companies in existence today whose sole purpose is to socially benefit society alongside businesses who simply combine social benefits with their economic goals as their company mission. These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially

This essay is a critical analysis of the behaviors that Company Q has demonstrated with regard to social responsibility. In essence, Company Q’s behaviors, while reasonable reactions to maintain financial viability and avoid contribution to employee malfeasance, actually demonstrate a profound solicitude that results in a negative public image that will end up costing it more in the long term. I will offer solutions that will provide a cost savings while keeping Company Q from making further embarrassing errors.

plan for all company operations the company isn’t just being socially responsible in this area due

We will begin this paper discussing whether or not Company Q’s actions have been socially responsible. In the scenario Company Q has chosen to throw out day old food instead of allowing it to be donated. The reason for their decision was to deter theft from the employees who may take the food instead of actually donating it. This in my opinion is socially irresponsible of Company Q. Company Q’s store has indeed faced some challenges, seeing as it is in a high crime area. More often than not high crime areas are also low income areas, a combination that surely both directly and indirectly effects the profits of the store. Profits are important as any business needs to be profitable obviously, but it should never be at the expense of people. People are one of the most vital parts of any business as you need them as consumers, and of course aid in running the business as employees.

Company Q is a small local grocery store chain who has made poor decisions when it comes to social responsibility. Company Q’s business is suffering because the owners’ do not know the heart of running a business, Social responsibility. When opening a business it is not all about the money. Sure it is nice to think about growth and reaping the benefits of a bigger bank account, but the first thing that is important in business is the consumers. Who is buying what you are selling? What will make consumers buy more, comeback, or tell friends? Businesses flourish around consumers. So if it is money you are after, then consumers are who you need and want. So in business in order for Company Q to get what they want and need, they will need to give the consumer what they want and need, social responsibility. Give back, it has always been said “It is better to give than to receive.” After careful review of Company Q's business actions, this company lacks social responsibility in many areas.

Also, a study by the Society of Human Resource Management (SRHM) states that Corporate Social Responsibility has positive effects on productivity, recruitment of top employees, loyalty and retention, and most importantly, the employee morale. The famous CEO of General Electric, Jack Welch, once said, “You build the best team, you win.” A study by Net Impact, which created a “What Workers Want” report, said that 45% of employees would have a 15% salary cut for work that has a social or environmental impact. Another 51% of workers say that helping to "make a better world" and make a "contribution to society" is essential to their ideal work . This goes on to show that in today’s world, by following CSR, companies have an easier time in recruiting a talented workforce. A great example in this case would be the Sara Lee Corporation that created a Global Sustainability Development Working Team in an attempt to improve employee satisfaction through Corporate Social Responsibility.

In order for Company Q to become more socially responsible they would need to address the problems they have with volunteering, change the mindset they have, and try and reopen the stores that they closed.

The executive's acquired performance-based incentives whenever they did not do anything to deserve the bonuses. As mentioned previously, the executive bonuses came from the investors and company’s workforce. Most capital expenditures are used to invest back into the company in property or equipment. By equipment, I am referring about operating cost in which to maintain the company. That doesn’t mean for the company to improve its current status, but to maintain its current status/assets. Capital expenditures can also refer to expanding the company’s current state by purchasing more land or new buildings. The executive's should not of gotten a performance incentive if their performance was not up to par. I find that to be a severe integrity issue. If the executives know they did not do anything to deserve the bonus why would they take it? The executives selfish actions did not only cause the investors their dividend checks, but all of the events played a part in causing stock

Corporate social responsibility incorporates environmental, social, and economic dimensions that provide leadership and differentiation opportunities for perceptive organizations. However,

Being socially responsible is a very important way for companies to generate interest in communities, and can contribute to a company performing well (Allenby & Krizov, 2004; De Pelsmacker, Driesen, & Rayp, 2005). When a company moves into an area and starts hiring people and giving back to the community, people who live there see the value in the company and want

CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.

Even though the challenges are present in implementing sustainable practice, just having an organization participating as a corporate citizen provides its share of opportunities. A good example of integrating social sustainability in the workplace is IBM. IBM is a good example of a corporate citizen in the communities; the company initiated a number of programs in order to help society. These activities include supporting various educational programs in order to improve quality of education, as well as allowing individuals to learn about information technologies to narrow the gap between those who have access to new technologies and those that do not. The company offers education and training in areas such as chemical safety, ergonomics, and stress management to employees. These programs are designed to enhance the work and life balance to employees and give them more freedom for their personal lives (Jackson, 1995). IBM also stresses the importance of a global human resources strategy that focus on diversity, working women

As Kline (2017) stated, “Socially responsible companies can reduce their credit spread by 40%, avoid market losses from crises (saving millions), double the probability of receiving investment grade ratings, reduce share price volatility 2-10%, and reduce systematic or market risk by 4%.” More interestingly, Kline (2017) mentioned, “...the researchers found that corporate responsibility could potentially increase the market value of a company by up to 6% over a 15- year period. Market value may grow even more -- to 40-80% higher than peers ' and competitors ' market value -- for companies with strong relationships with stakeholders such as environmental and social NGOs.” Similarly, Kline (2017) voiced, “The study found several advantages on the human resources front due to retention of talent attracted to CR. Staff turnover rates are 25 to 50% lower in responsible companies, who can save around $3700 on average in wage increases to encourage an employee to stay when he or she would rather go elsewhere.” Kline (2017) brought up some engaging trends, “ In fact, in responsible companies 5% of employees say they are willing to accept a decline in compensation. These companies register a 7.5% increase in