It turned out that Coca-Cola was not the cause of the problem. Middle There are incurred costs to being socially responsible, such as spending money on philanthropic activities within the community.The benefits of social responsibility might be hard to see at first, but over time, loyalty and commitment are created within the organization, among employees, with customers, and within the local community.
It turned out that Coca-Cola was not the cause of the problem. Middle There are incurred costs to being socially responsible, such as spending money on philanthropic activities within the community.The benefits of social responsibility might be hard to see at first, but over time, loyalty and commitment are created within the organization, among employees, with customers, and within the local community.Tags: Worlds Hardest Math Problem SolvedElsevier Research PapersBusiness Term PaperDefine Essay On ObeseLearning Creative WritingEssay On Mobile Phones And
In the same way that Coca-Cola used CSR to strengthen risk management, fast food restaurants are now offering "carb-conscious" alternatives to their otherwise unhealthy products. Conclusion Furthermore, pushing business practice from ethical responsibility into the higher realm of discretionary responsibility is proven not only beneficial for society, but profitable for business as well. Friedman's motto "the business of business is business" can become counterproductive as it may cause managers to focus excessively on short-term performance, thus neglecting the broader issues and opportunities, such as societal trends, trust of customers, investments into innovation and other growth prospects that will solidify company success long-term.
However, I support the opposing notion that when CSR increases cost and reduces profit, it is not a viable business strategy.
It is possible that a business might adopt CSR practices out of self-interests to pursue societal rewards as well as imitate the success of others.
Many firms only begin using CSR practices after negative press surfaces.
CSR can enhance a company's reputation and brand name, promote transparency and integrity, evoke employee loyalty and expose market opportunities while simultaneously benefiting society.
On the other hand, its disadvantages include increased costs, ethical issues regarding the use of shareholder capital, variation in the interests of the public in different contexts and the fact that environmental and social contribution is difficult to measure and account for.The analogy with oil might seem odd but it isn't so far fetched. P has long been the target of activists clamouring for action on global farming.Coca-Cola has also been targeted by activists, but over the issue of water rather than energy.For Levi Strauss, the consequences of the excessive and costly actions of Bob Haas show the dangers of taking CSR too far.Companies also have ethical obligation to be wise stewards of money invested by shareholders, and to be accountable for financial decisions.The firm has been hit hardest in India as it used 283 billion litres of water in 2004.First, experts from Delhi's Centre for Science and Environment, a green think-tank, tested various soft drinks and determined that they contained high levels of pesticide (Coca-Cola's 'toxic' India fertiliser 2003).Coca-Cola in India created a CSR advisory board after negative press over fatal gas leaks and contaminated water.In other words, some companies only use CSR as a publicity tool to cover up problems that were apparent within an organization.Today's society requires businesses to be held accountable for their actions and to be more transparent instead of withholding information.(World's Most Respected Companies 1998) When a community sees a business actively participating in community functions, using ethical practices, minimizing environmental impact, or working with charities, brand confidence increases.