Btec business Level 3 Unit 20 Assignment A LAA. (Distinction Repot)
Unit 20: Unit Title: Investigating Corporate Social Responsibility
Level: 3
Subject: Business
Assignment Title: (Current CSR issues for Large Businesses)
, Btec business Level 3 Unit 20 Assignment A LAA. (Distinction Repot)
P1 Explain how CSR issues impact on the stakeholders of businesses
In this assignment, I will be explaining what CSR is and how it impacts McDonald’s
and H&M's stakeholders. Both enterprises' stakeholders include owners, employees,
customers, suppliers, the government, and local communities. All these stakeholders
are those who are interested in the business, which could be either internal or
external stakeholders. Both H&M and McDonald's are large, contrasting companies
with over 250 employees and many branches internationally. Both H&M and
McDonald's are successful because of their brand recognition and various activities.
McDonald's benefits from corporate social responsibility because it helps them
achieve social and business essential goals in order to protect their business and
make a profitable future. However, CSR is advantageous for H&M as well, as they
consider CSR mainly about the responsibility of their labour conditions at their
suppliers' properties. CSR helps H&M increase sales and customer loyalty.
CSR( Corporate social responsibility)
CSR refers to the examination of the environmental and social impact on business
procedures, which is essential for every business because CSR identifies the
relationship with stakeholders. Corporate social responsibility is an essential factor in
the success or failure of many companies. It includes the company taking
responsibility not only because they think it is something they should do but also to
satisfy several stakeholders, both inside and outside the organisation. It is in the
mutual interest of both communities and the company to get what they want from
each other. Some of the most essential aspects of CSR are environmental
responsibility and the company's supply chain. The reason this is such a big issue is
that the market is demanding companies take more responsibility in their operations,
and if companies don't adapt to their customers' expectations, they stand to lose a
lot of money. money or even go bankrupt. In addition, addressing CSR issues can
significantly increase customer loyalty and attract public attention, thereby attracting
a large number of customers as well as garnering media attention, thereby attracting
a large number of customers. For example, businesses such as McDonald’s have
standard CSR policies such as using less energy-efficient LED light bulbs, which
capture more energy in the restaurants, as well as energy-efficient tools, etc.
McDonald's prioritises CSR by using recycled cooking oil and recycled cardboard
packaging, both of which benefit the environment and stakeholders. Mcdonald’s
stakeholders include; customers, owners, suppliers, shareholders, employees,
government, local communities, etc.
H&M mainly focuses on labour conditions in their business. H&M doesn’t own any
factories by itself; instead, they buy products from subcontractors in low-wage
countries, for example, China, as H&M uses over 500 subcontractors all over the
world. CSR is essential for businesses to comply with because it enables them to
increase their popularity and enhance their business reputation by advertising their
CSR activities on social media or their websites.
