Summary
Summary Unit 20 : Corporate Social Responsibility - Assignment 2
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Unit 20 : Corporate Social Responsibility - Assignment 2
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Sami UddinShould a large business have a CSR policy?
Introduction
Corporate social responsibility is a management concept whereby companies integrate social and
environmental concerns in their business operations and interactions with their stakeholders of the
business. The business that I am have chosen is Poundland. Poundland is a British variety store chain
founded in 1990 selling most items at £1 which includes clearance items and proprietary brands.
In this I will be stating what the benefits and drawbacks of using corporate social responsibility and
also investigating the benefits and drawbacks of the chosen business seeking recognition and looking
how the business has had to change their policies due to working with an external body.
P5 – External bodies that work with businesses and monitor their CSR activities
Poundland has links with Tommy’s funding research, make a wish and whizz kidz. What Tommy’s
funding research main purpose is that they believe the funding research will lead to increased
understanding of pregnancy that will improve antenatal care and the detection, treatment and
management of women in pregnancy.
The way this will have an effect on Poundland is that by providing the support to Tommy’s funding
research business it will help them achieve their goal and spread awareness of what they are trying
to get out to people, this will make Poundland improve their CSR image and also business image. The
reason why Poundland want to seek recognition from Tommy’s funding research is because they
want to spread awareness and increase the understanding of pregnancy. This will improve both
businesses reputation as they are doing something that will benefit people’s understanding of
pregnancy. This will lead to people coming to shop at Poundland due to increased reputation.
Make A Wish is a charity business that supports disadvantaged children as by helping them children
or donating will make a huge difference in their lives and therefore will achieve one of Make A Wish
goals. The way this will have an effect on Poundland is that helping out with the donation that will
be given to Make A Wish will help them achieve their goals and provide the necessary goods to
disadvantaged children. This will lead to Poundland improve their CSR image and also business
image as a whole. By having an improved CSR image it will lead to Poundland having a positive public
image leading to more people visiting and shopping at the business.
P3 – Benefits of acting responsibly
One of the benefits of acting responsibly is that it leads to improved public opinion whereby the
opinion or the attitude of the public is positive towards the business and that is being shared around
many people, making them satisfied and this can lead to attracting more customers to the business
and this will then lead to them making more sales and revenue for the business.
Another benefit of acting responsibly is that improves customer loyalty and brand image. By
improving your brand image it leads to the impact of consumer buying behaviour therefore they will
keep coming to the business and this will lead to customer recognition. By having customer
recognition it then leads to having a strong brand and therefore leads to more attraction of
customers which then will lead to more increased in sales and revenue.
Also by having a brand image it leads to businesses having the ability to be able to charge their
products or service at premium prices, as people will have the trust in the business and therefore
will buy the product and the reason why is because people tend to perceive companies with higher
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