Question

Please only provide feedback for this discussion:

Please provide a specific example of a company you know or have read about, and how it has demonstrated social responsibility, and how this has benefited the company.

Levi Strauss Co. has an initiative for worker well being. This initiative focuses on improving the life of their employees, and as such enables them to be more productive while at work. They also have a campaign called “Water<Less” in which the company is striving to use less water in the production of their products. Currently they have saved one billion liters of water with the intention of further improving the process by 2020 (Ghiam, 2017).

Explain why Corporate Social Responsibility is important to each of the above stakeholders.

First companies in this era are more susceptible to public opinion. This susceptibility leads to a need to create and maintain a public image. Customers can use tools like social media and review sites to boost or destroy a company. With that risk, a company needs to take actions to make their social interactions in line with the moral ideals they portray. Companies like Toms that provide help to those in need based on purchases offer a chance for someone to help out just by buying something they needed anyway. That can bring in more sales because they are making the customer feel like they are a part of the solution, and helping others.

Second the environment and how we treat our planet has become a lot more important as we learn about all the damage we are doing to it. With that in mind companies can create a positive image through being environmentally responsible and taking action to lessen their impact. Being environmentally friendly might create some costs, but the tradeoff in positive public image, and new customers because of that image will potentially compensate for any losses.

Answer 1

Social responsibility demonstrated by P&G company was by launching Shiksha program which is an integral part of global philanthropy program - live,learn and thrive. More than 3 lakh underprivileged children got access to right to education through Shiksha. Program supported over 140 schools across India in partnership with NGOs like round table India and save the children. Shiksha has made donation of over rupees 22 crore towards helping children on the path to better education. As customers are more concerned about this social cause of education to underprivileged, more customer opted for P&G brand to purchase products that they already needed so as to be part of social initiative of P&G company. Therefore corporate social responsibility is important for an organisation because it helps the environment and Society by contributing share of its profit which also intern helps them to get more business resulting in more profit. Eventually all the stakeholders are benefited by the initiative of CSR activities.