csr conclusion essay

shown that the effects of corporate social responsibility has been reached on customer satisfaction and that these strategies can either have a positive or negative impact. The internal factors are driven by shareholders, management or employees who demand their companies embrace convictions that make them good corporate citizens while the external drivers are the consumers, government agencies, NGOs and other pressures emanating from outside requesting the company adhere to socially and. According to Friedman (1970) argument there is one and only one social responsibility of business-to use its resources to engage in activities designed to increase its profits so long as it stays within the rules of the game (p. Virtually all the major supermarket chains in the UK have a commitment to CSR clearly stated in their official website. 2.5.2 Strategy for Competitiveness CSR is no longer a mere gesture by companies, it has become a vital tool for boosting competitiveness and even These major retailers consider themselves actively pursuing CSR using key performance index (KPI) (Such as defra KPI) and other independent verification. The international CSR agenda is dominated by oecd-based NGOs, investors, consumers, business and business associations. This can only make a study such as this further gain traction in management and marketing cycles where strategic component of CSR has given rise to a multi-billion pounds industry requiring products and services with positive impact on the social and environmental systems of the. This has further amplified the value of incorporating CSR into the activities of business entities as governments, non-governmental organization, and consumers demands for socially and environmentally responsible business and industrial activities continue to gain pace in the 21st century. A thorough analysis of the definitions of CSR above would suffice to say incorporates all the features pointed out in Dahlsrud (2006) five dimensions of CSR which are: stakeholders, social, economic, voluntary and environmental dimensions coupled with Carroll (19) four categories of CSR which are. These mechanisms are to ensure these supermarket chains reduce their carbon footprint, conserve water, adhere to good waste management, minimize and even eradicate food wastages, maintain decent work and adhere to industry codes and standards amongst others.

While efforts are being made such as applying green technology to overcoming these challenges more effort are still needed to really achieve success and such effort besides spending so much money requires a simple change in behaviour that discourages unsustainable environmental practices. CSR has evolved beyond mere corporate philanthropy; it has become a call for corporate accountability and responsibility often choked by the profit seeking motives of commercial entities. An increase or decrease in customer satisfaction can have great effect in the market value of a company, and as such increasing consumer patronage through the instrumentality of CSR cannot be taken for granted.

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Brand loyalty, customer brand ambassadorship and revenue are all direct results of this philosophy and in excess of R64 million is spent annually by this group in Southern Africa alone to maintain this brand loyalty, market leadership and country and people investment. It is now recognized that honors udergraduate thesis poverty reduction and sustainable development will not be achieved through government action alone. Quite simply, being socially re4sponsible is not only the right thing to do; it can distinguish a company from its peers (Starbucks, 2001:3). This in turn has made consumers one of the most important motivators or drivers of CSR locally and globally. However, even as CSR remains at the core of responsible corporate citizenship, it adoption by business entities continue to generate challenges in many corporate boardrooms on how best to render such valuable services that may well be the key to their eventual long term sustainability. 2.9 Conclusion This chapter reviewed relevant academic literature on the issue of corporate social responsibility (CSR) focusing on various perspectives such as: economic, philanthropic, ethical and legal perspectives of CSR. Other CSR spend, is distributed to various initiatives throughout Africa and the Boxer chain, also owned by the Pick n Pay group. Sainsbury for instance has as a rider five core values-The best for food and health, sourcing with integrity, respect for our environment, making a positive difference to our community and a great place to work.