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Assignment I
Answer 1. Following are the advantage of investing in the corporate social responsibility
· Tremendous source to build strong
and reputation and recognition
· It also offer strong platform for the company to enhanced sales and build customer loyalty
· Improves the capability of the company to enhance talent and maintain the staff
· Much easier accessibility to funds and capital
Answer 2. Below are the list of ba
iers to corporate social responsibility
· Poor Awareness amongst the stakeholders and lack of knowledge transfe
· Minimum to low sharing of Information and Technical Training
· Lack of formal regulation of policies standards in the organisation
· Adherence to fixed mindset and traditional ways of working
Answer 3. Two areas of future opportunities for socially responsible practices in the organisation is focus on implementing Green Technology.
My organisation pays a lot of attention on growing climate changes which also drives conversations all across the world. Natural resources are getting depleted all across the world and there is escalation of average temperature by 2-degree. Therefore, the socially responsible organisation is investing tremendously in green technologies. Essentially, the intent is to minimise their reliance on non-renewable resources and concentrating on more sustainable inputs to perform the business.
Second important aspect that the organisation is focusing with respect to CSR is the GLOCAL approach - which implies Global companies acting locally. This initiative revolves around comprehending the value of the supply chains and local markets. Intent is to not only minimise the ca
on emission that is associated with the supply chain overhead and transportation.
Answer 4. Based on the Stakeholder matrix primarily taking into consideration the Influence/Power of the Stakeholders on Y axis and Interest of Stakeholders on X axis, they can be divided into four parts
· Meeting their Requirements
· Key Players
· Least Important
· Show Consideration
Therefore, the category of the key stakeholders in the organisation are show consideration where the interest to support social cause is high but those individuals usually have less power of influence.
Answer 5. List at least five decisions that will be needed for integrating a new corporate social
esponsibility policy in the organisation.
· Proper and Frequent Communication amongst all the key stakeholders. Usually, person responsible for this can be HR or an exclusive team for CSR
· Strong support from the Leadership which enables people to believe in the CSR initiatives and contribute their bit in the same. This is usually implemented by the leaders who is driving the initiatives.
· Regular and timely feedbacks are shared amongst all the concerned stakeholders to enhance and improve the initiative further. This is performed by the HR.
· Resource Allocation and Management – This is one of the important decisions that is required to be taken while integrating the new corporate social responsibility in the organisation. This generally deals with resources in terms of financial capital, intellectual capital and time which is required to be given to the concerned team.
· Performance Evaluation – Lastly but an important decision is how to evaluate the performance of several corporate social responsibility policies and initiatives that taken up in the company.
Answer 6. Following are the steps used to review of corporate social responsibility policy with relevant stakeholders
After understanding the feedback shared and recommendation given...