In: Finance
Find two examples of companies, products or organizations which display social responsibility: one which displays good social responsibility and one which displays poor social responsibility. For each, explain why you have this opinion of these firms.
Examples of companies that display good social responsibility are BMW and Starbucks Coffee.
BMW is one of the most socially responsible companies in the industry. They have created programs such as “The Schools Environmental Education Development Project” which helps to raise awareness about social and environment issues.
Starbucks has created its product which is not just beneficial to the customer but also the environment. It has started programs like the “C.A.F.E. program” which set guidelines to increase product quality, social and economic responsibility, and environmental management. It also partnered with Ethos Water which helped bring clean water to over one billion people who don’t have access to it. It is a good example of good social responsibility because of its giving back programs.
Examples of companies that display poor social responsibility are Volkswagen and Nike.
Volkswagen designed a means to circumvent emissions control with the aim of hiding the fact that its diesel engines are highly contaminating. It was supposed to designing environment friendly cars but it was in reality harming the planet.
In 1991, an activist reported poor working conditions and low wages of Nike employees in Indonesia. These employees were paid 14 cents per hour, which was far below the minimum wage rate in Indonesia. A Nike shoe factory failed to pay its workers overtime for 2 years. This had badly affected Nike brand and reputation and was an example of poor social responsibility then.
I hope that was helpful :)