Question

Answer the following question in 200 to 300 words.

• Discuss the value of corporate social responsibility (CSR), and determine if Caterpillar Inc.’s CSR meets those values.
• Analyze the role of ethics and social responsibility in developing Caterpillar Inc.’s strategic plan while considering stakeholder needs and agenda.

Answer 1

Discuss the value of corporate social responsibility (CSR), and determine if Caterpillar Inc.'s CSR meets those values.

The value of corporate social responsibility is reflected by the benefits it offers such as a good image and reputation among the stakeholders, and in general public (Chen, 2019). This enhances the productivity of the organization as well. the company can be recognized as a corporate citizen and this adds more confidence in investors and customers to invest and purchase products or services of the company.

In this regard, the company Caterpillar corporate social responsibility initiatives are explained. The company is well recognized to play the corporate social responsibility. It has involved in providing the safety at workplace, caters the needs of society and customers by offering sustainable products and solutions.

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Analyze the role of ethics and social responsibility in developing Caterpillar Inc.'s strategic plan while considering stakeholder needs and agenda.

The role of ethics and social responsibility in Caterpillar strategic plan is found crucial as the company considers fulfilling its commercial objectives by serving the community and other stakeholders. It is found that 18 percent of the company sales and revenue were gained by those products and solutions that provided sustainability benefits to the customers (Lindsay, 2017). Thus, this statement suggests that the strategic planning considers the interests of community and promotion of sustainability to ensure that resources of the community are well used and protected. these initiatives suggest that the greenhouse gases emissions are reduced and benefits to the community through employment creation, protection of biodiversity and natural resources, and through other means are provided by the company. thus it can be said that Caterpillar Inc. considers the social responsibility and ethics while formulating the strategic planning.