Communication in Business 100
Critical Essay
Company: LOUIS VUITTON
Essay Title: Corporate Social Responsibility: An investigation into Louis Vuitton
Name: YAN JINSHAN
Student Number: 17460510
Email: yanjinshan.eric@gmail.com
Semester: One, 2014
Curtin University: Singapore Campus
Tutor: Sally-Edith Yong Corporate Social Responsibility: An investigation into Louis Vuitton
With the rapid development of social economy, the public tends to focus on the social responsibility of the company, as well as feedback to the society, rather than pay close attention to how to create interest in the company. Especially, environmental protection and human rights has became the most pressing social phenomenon. Under this
…show more content…
In addition, the company will donate funding when the natural disasters happen. As can be seen, Louis Vuitton is trying to be a significant role in the public by undertaking full responsibilities on the society.
The existence of CSR performances guarantee the interest of stakeholders, which involving investors, sponsors, employees, consumers and suppliers. More specifically, for inner management, the workers can be treated respectfully and received well treatment. For example, the workers should be ethically treated when they make a contribution to the performance of organization. Which means the workers not only will improve the enthusiasm to the work, but also will hold the same attitude to handle their works and customers when they receive and be treated equally and ethically in the working environment. Consequently, the employees will make more profits by working in a comfortable workplace. Moreover, the performance of organization will be promoted dramatically by workers’ support.
From the point of view of the external environment, the effectiveness of organization would gain much more support when the company do the business with their consumers and suppliers, due to the company has provided a wonderful environment for the employees (Businessweek, 2007). Obviously, when the company’s reputations has been known and improved because
First of all, employees account for the majority of the population in Gap’s factories; further, these employees are the blood in the whole enterprise body, the very thing that is keeping the whole business engine going (Henkle, 200). Hence, the employees are also the major force to implement the CSR plans and initiatives proposed by the management. By strategically allying with the employees on the CSR issues, they management could expect the employees to cooperate more willingly and heartedly (Urip, 2010). Gap’s CSR goals are also part of its strategic goals, which are closely related to efficiency, productivity, profitability and long-term prosperity (Vogl, 2006). Attaching greater importance to the employee participation could promote more desirable implementation of Gap’s CSR plans.
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.
With the increasing globalization of business, society has also been more concern with the degradation of the environment and a continuous concern for the benefit of the employees. The society has call for attention to industries for social responsibility. This includes human right protection of corporate employees, consideration for the health and safety of consumers, and contribution to local communities.
Primark has a guide lines for their social responsibility followed by compliances to law and this is their economic foundation for earning profits. Voluntary activities for the worker such as providing training for code of conduct and this will also promote their goods in market. That’s why Primark is concerned about social activities and they spend money for different social activities. Primark can win trust of their respective customer also within their employee and in the society and this will take their business to a more growing and profitable position for a long run. Primark also working to make the risk less for their customers, governments and public taking action. All these are affecting their company very much to become profitable
This report evaluates the roles of the CSR (Corporate Social Responsibility) for increasing the level of managerial effectiveness of the employees based on ASDA. Application of the CSR practices can create several opportunities for retaining the best employees at the workplace. It can set up the standards of the employees by considering the flexibility at the workplace. It considers equality and diversity at the workplace and measures valid performance measurement scale. CSR applications can protect the rights of the employees and motivates the organisations for not taking part into any illegal business operations. ASDA has taken consideration of the CSR applications by developing a family oriented organisational culture
Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue
Employees, as members of an organization, contribute a lot to the enterprise’s manufacture, management and profitability. Corporations’ CSR activities definitely have an enormous influence on the qualities of employees’ behaviors. (Nan, X. & Heo, K. 2007, p.65) Employees may react negatively when they perceive a corporate injustice because that implies a mismatching with their values and threatens their psychological demands. CSR activities on employees are consisted of many aspects, such as skill training, working condition, payment as well as health and safety. Every corporation has its own human and labor policies.
CSR has become a large part of a businesses brand image, in the 1950s the primary focus was on businesses ' responsibilities to society and doing good deeds for society. In the 1980s, business and social interest’s became closer and firms became more responsive to their stakeholders. During the 1990s the idea of CSR became almost universally approved, finally in the 2000s, CSR became an important business strategic issue (Rosamaria et al. 2011).
The global development and globalization have increased the demand for social behavior towards large companies to make them more responsible and more committed to their environment, which has caused companies to become "Corporate Citizens" whose basic social responsibilities , ethical, labor and environmental beyond profit maximization and its position on the markets; to act in a transparently manner, helps companies to remain successful, particularly when they promote values and respect for the environment.
It is a viable alternative to apply CSR in Corporate and management strategies to outclass competing companies. An organization by carrying out its ethical principles and convictions in their activities and propagating them via organizational network influences the relationship with shareholders, clients and employees. The application of CSR can lead to social benefits and legitimacy for the firm since it can consider itself as a coalition in which the different stakeholders participate to gain their own benefit. (Freeman, 1984).
The researcher also had discussions with the interviewees regarding the benefits that these CSR activities have brought to the organization. It was established that many organizations have a CSR Policy, which defines areas of concern and initiatives to improve relations with the people and environments affected by business operations (Bell, 2016). The interviewees agreed however that CSR is about more than environmental responsibility or having a recycling policy. Its initiatives take organizations beyond compliance with legislation and leads them to honor ethical values, respect people, communities and the natural environment. But most of all CSR is sustainable - involving activities that their organization can maintain without adversely affecting the business goals. Few benefits mentioned were;
Through globalization the gap between the rich and poor has increased, while the rich get richer, the poor get poorer. This can be one of the many reasons why companies choose to be more social responsible as CSR aims to reduce conflicts between stakeholders. Although, individuals are aware that more companies are producing social responsible goods, companies can benefit from CSR practices in different ways. When companies decide to be socially and environmentally active, not only will the society and the environment benefit from the companies ethical practices, but they can also differentiate themselves in today's competitive market.
Recently, the expectations of society for companies have increased more than before (Craig, Bhattacharya, Vogel and Levine, 2010), so one significant issue that most firms have been actively involved in is Corporate Social Responsibility (CSR). Some may debate that it decreases company’s profits by spending much money on CSR. However, according to Needle (2004), ‘good’ CSR is also good for business, a firm could benefit from doing CSR. Thus, this paper aims to explain its importance. It begins with the definition of CSR and its four responsibilities, then presents how it influences a business and benefits it can bring. Finally, I am going to describe strategic CSR and discuss why firms have social responsibility.
With an ever increasing quantity of business people and investors becoming more and more conscious of stakeholder welfare and their social responsibilities, engaging in CSR appears to be an economically sound choice, not only for investors with a conscience, but also to attract and retain employees with good qualifications who would compare working conditions and ethical conditions with other firms. (Is CSR the privilege of Developed Market Economies?)
The Company firmly believes that CSR is primarily, the responsibility of the Company in relation to the impact of its decisions and activities on the society and also the Environment, through a transparent and ethical behavior which is: