An analysis of the strategies of Coca-Cola company in the African market Introduction: The strategy of a company requires constant updating.
However, they do share one common ground on the basis of which CSR can be described as a voluntary activity that a corporation does for its employees and society as a whole as well as the environment around it for its operations and functions.
It is what the corporation gives back to the community after using its resources to make profits. Its Advantages and Disadvantages According to Horriganthere is no definite answer to what CSR is owing to the high level of ambiguity and controversy related to the topic.
In the year ofOrganization for Economic Co-Operation and Development OECD convention was developed to advocate the policies that aimed at achieving sustainable economic growth and employment and elevate the living standards in the member-nations while maintaining financial stability at the same time.
This strategy was aimed to create more stable world economy, stimulate world growth, perish world equalities and work on the worst impacts of poverty.
Thereafter, many significant incidents took place that further strengthened the roots of CSR and forced the business developments to see the need for CSR. The corporation innovates in its manufacturing stage to reduce the production of environment harming by-products.
It also promotes the use of non-renewable energy sources to prevent harm caused to the environment by burning of fossil fuels. The companies may extend compassionate leaves like paternity leaves so that the employee can look after his newborn.
They can also provide medical insurance to their employees to take care of accidents caused due to occupational hazards. Charity Based Corporate Social Responsibility CSR In a charity-based CSR, corporations donate to organizations or individuals usually through a charity partner to improve their financial condition and for their general upliftment.
This is the most common form of a CSR activity. Most corporations provide direct financial support to organizations or individuals who require such assistance. Improvement in the image of the Corporation The most obvious advantage that a corporation can obtain by implementing CSR policies is that of an increased goodwill value.
This serves a dual purpose — Firstly, people will want to buy the product that the corporation is selling because of its good and clean image. Secondly, other enterprises will want to do business and be associated with the corporation. People always want to be associated with the best and the most popular, so in that respect, the corporation rises in stature and becomes an important player in its market.
People want to work for companies that care about the well-being of their employees and provide good working conditions. Compassionate attitude towards employees is highly desired by both new recruits and old employees alike. Appraisals, financial assistance in times of need, and attention given to personal achievements and special days like birthdays make employees want to remain with the company.
This is a huge advantage when there is a tight labor market situation. This will reduce the cost of training new recruits and free up incentives for existing employees. Incentives induce efficient work out from employees.
Regulatory Authorities become less hostile A corporation with strong CSR programs will not be scrutinized by regulatory authorities as much as companies without CSR programs. The authorities will be lenient in their regulation because they feel that the company must be complying with all regulations as it is supported by firms and people alike for its welfare work.
A company with strong CSR programs will always work within regulations to get benefits other than profits from these CSR programs. The authorities will give fast-track preference to this company. It may also forego cumbersome paperwork that is required to set up projects if it thinks that this project is going to help the community to improve.
If the company is engaged in CSR programs, its image gets a massive boost, and so, people invest in its operations heavily.The concept of competitive advantage is central for the strategic management literature. The researchers` ideas in this field are broad and comprehensive - from an attempts to define and measure.
Full-Text Paper (PDF): Moral Degradation, Business Ethics, and Corporate Social Responsibility in a Transitional Economy. es. and tactics, CSR, an analysis of the firm’s. internal and external. You should justify your choices in terms of the.
cho. sen industry/sector on the grounds of innovation, competitive advantage and, company’s sustained growt. h and survival. Your budged is £, (BP). Corporate social responsibility (CSR) refers to strategies corporations or firms • S cial nv es tmp x • Firm’s view on natural resources and its dynamic capabilities for formulating strategies in the dynamic usage of natural resources of the corporation for competitive advantages.
The strategies also include altruistic activities. ProQuest powers research in academic, corporate, government, public and school libraries around the world with unique content, including rich academic databases, and technologies that connect people with information, simply and precisely.
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