Question

Corporate Governance List and describe in detail three reasons why a company would want to engage in a robust corporate social responsibility plan. How does retrograde analysis help a company determine how it will engage in corporate social responsibility? Scalability is often noted as the biggest opportunity in the market. Describe in detail two ways that a company can scale up its corporate social responsibility efforts – and to what end they would attempt to scale up such efforts.

Answer 1

Corporate responsibility is simply a way for companies to take a responsibility for the social and environmental impacts for their business operations.A robust CSR program is an opportunity for companies to demonstrate their good corporate citizenship and protect the company from outsized risk by looking at the whole social and environmental sphere that surrounds the company.

4 Pillars of CSR

*Environmental

*Philanthropy

*ethical employment

*volunteering

benefits of CSR to companies include

* better brand recognition

* positive business reputation

* increased sales and customer loyality.

*operational cost savings.

* better financial perfomance

* greater ability to attract talent and retain staff

*organizational growth.

* easier access to capital.

1. The ability to have positive impact in the community

Keeping social responsibility front of mind encourages businesses to act ethically and to consider the social and environmental impacts on their business .In doing so, organization can avoid or mitigate detrimental impacts of their business on the community . In some cases , organization will find ways to make changes in their services or value chain that actually delivers benefits for the community ,where they once didn't.

2.It encourage both professional and personal development

Providing employees with the opportunity to be involved in the company's socially responsible activities can have the benefits of teaching new skills to staff , which can in turn be applied in the work place . By undertaking activities outside of their usual work responsibilities , employees have the chance to contribute to work and causes that they might feel passionate about , or learn something entirely new which can help enrich their own perspectives. By supporting these activities , organization encourage growth and support for employees.

3. It supports public value outcomes

Put simply , public value is about the value that an organization contributes to society. A sound robust corporate social responsibility frame work & organizational mind set can genuinely help organizations deliver public value outcomes by focusing on how their services can make difference in the community . This might happen indirectly , where an organization services enable others to contribute to the community , or directly through the organizations own the activities , such as volunteerism and philanthropy.

SCALABILTY

Scalabilty is an attribute that describes the ability of a process , network , software or organization to grow and manage increased demand.it is often a sign of stability and competitiveness , as it means the network , system, software or organization is ready to handle the influx of demand , increased productivity , trend , changing needs ,and even presence or introduction of new competitors.

4 ways company can scale up CSR

1. High morale and improved productivity

The feeling of self -worth and pride that taking a moral stance can bring to the company's employees and stakeholders can have a positive impact on productivity and morale.

2. Build a committed group of core, repeat customers

companies can a crucial advantage by leveraging their CSR .Responsible consumers are looking for companies hat adopt 3BL strategies and are willing and ready to support them - even if it means paying higher prices than competing products.

With the right branding and promotional effort , companies that implement sustainable practices can become known as green and social responsible , and use this as a competitive advantage in the industry.

The brand image should reflect the companies values. By incorporating CSR Policies into the business strategies , this brand image attracts a whole new segment of consumers, thus increasing profits and allowing the company to grow.

3 . Attract top talent to grow your company

4.Reducing overhead costs.

Retrograde analysis

it is a technique used by chess players where they determine which moves were played leading up to a given position .Retrograde analysis is a helps you to predict events by working backwards from the outcome.

Below stap by step process which we can apply for retrograde analysis in a company CSR

1. Identify

identify things related to personal and professional life. Identify a situation in company that you can improve upon or master. Lets call this situation the current state .Next identify the desired outcome .Lets call this desired situation to the future state.

eg.I seem to consistently be overwhelmed with work during the middle of the a social project ( current state), while my colleague seems to have steady to work volume any given time ( future state). This is great opportunity to improve upon and minimize or even eliminate high work volume during the middle of my future project.

2. ANALYZE

In this state analyze the actions that result in the future. Take it stop further and analyze the actions that lead to the actions that result in the future state.

APPLY

The final step is to apply the findings . understanding the desired end result , we can work backwards a few steps and steer our path towards said result .

eg; The next time I start a project , I will try to steer the situation so that the team set up regular meetings . I will ensure I spend an hour or so planning the upcoming week. Taking these measures will increase the chance of creating the desired outcome of creating a more study work volume for myself.

These type of retrograde analysis help scale up a company CSR .This analysis make improvement of problem solving capacity of an organization .