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Summary Unit 20 - Corporate Social Responsibility Assignment 1
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Unit 20 - Corporate Social Responsibility Assignment 1
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Sami UddinInvestigating Corporate Social Responsibility
What is Corporate Social Responsibility?
It is a system that companies hold themselves to set a legal, ethical and ecological standards. It is
also an obligation that is required by the law, for a business to be able to pursue long term goals that
are good for the society as well as how a business manages its business to produce an overall
positive impact on the society.
The CSR is made up of 4 parts and they are:
1. Economic – Responsibility to earn profit for owners
2. Legal – Responsibility to comply with the law
3. Ethical – Not acting just for profit, but doing what is right and fair
4. Voluntary and Philanthropic – Promoting human welfare and goodwill, being a good
corporate citizen contributing to the community and quality of life
Corporate social responsibility means the duties of a business towards it’s stakeholders and the
environment.
Poundland
Is a British variety store founded 1990, selling most of their items at £1 which includes clearance
items and proprietary brands. Poundland has built a network of almost 850 stores in the UK and the
Republic of Ireland, offering top brands and great quality own brand products along with providing
customers with amazing value everyday.
Iceland
Is a British supermarket chain headquartered in Deeside, Wales. It has an emphasis on the sale of
frozen foods, including prepared meals and vegetables. They also sell non-frozen grocery items such
as produce, meat, dairy and dry goods.
P1 – Explain how CSR issues can impact on the stakeholders
What is a Stakeholder?
A stakeholder is when a person has an interest or concern on a particular business.
How does CSR affect the Stakeholders?
The way it affects the owners is that CSR impacts a business’ ability to attract top talent which then
affects employees satisfaction levels and retention rates. A business that does prioritize a corporate
social responsibility will risk losing top talent to companies that are doing so.
The way CSR has an effect on employees is very good and the reason why is because they will have a
positive impact on employee wellbeing and also motivation. They can also contribute to the ease of
hiring quality staff as well as employee retention, commitment and motivation, which leads to
increased innovation and productivity.
The way CSR has an affect on the customers is that it enhances customer satisfaction and also
loyalty intentions in communal relationships such as customer references in a company’s warmth. As
CSR creates social value and improves social welfare which actually constitutes the main goals of
government policy.
, Sami Uddin
The way that CSR has an effect on the suppliers is that by seeing that businesses have CSR objectives
to meet it shows that they have a reputation of being well run business, this will lead to the suppliers
trusting that the business will make prompt payments otherwise their reputation will get ruined as
well as not getting the goods that is needed.
The way that CSR has an impact on the local communities is that working with your local community
can bring a whole load of benefits such as local customers being the important source of sales and
by demonstrating your commitment to the community it will lead to the reputation of the business
being improved.
P2 – Explain how CSR issues can impact on businesses taking them beyond their statutory
requirements.
What does it mean for businesses to go beyond their statutory requirements? What are the issues
that businesses face?
The main elements of environmental CSR are reducing waste and emissions, maximizing energy
efficiency and also productivity as well as minimising practises that could adversely affect the
utilization of natural resources by coming generations. Businesses are now paying particular
emphasis on the issue of consumer rights awareness, and its potential effect on consumers’ reaction
towards CSR and the business initiatives.
Supply chain issues that business have to consider are: customer service and the front line within the
business, careful planning and also the risk assessment in all aspects of the company. Business also
need to consider the relationships between the suppliers and how they operate, the management of
all aspects in the business. Businesses are under more strains to control management and tighter the
expectations with their companies.
Environmental Issues
It is very important for businesses to ensure that any waste that they produce as a result of business
operations is stored safely and securely as well as treated appropriately and collected for disposal or
recycling for an organisation authorised to do so.
By being a sustainable business it will lead to the business being more efficient as well as improve
brand value and reputation, along with provide a platform for innovation, as well as to be able to
attract staff and also keep them.
Every year there are thousands of cases of damage to the environment. The Environmental Liability
Regulations relate to the most serious cases, covering such as:
. Damage to species and habitats
. Damage to water
. Risk to human health from contamination of land
With the UK being put into lockdown it forced people with cars off the streets, people around the
world have remarked on the improvement in air quality. This has led to a huge drop in air pollution
due to the less amount of vehicles being used on the roads and this will lead to prevention of global
warming and children health problems and also effect on wildlife. However, plastic pollution has
increased as people have turned to packaged foods and also takeaway waste has been increased
significantly.
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