Introduction Supply Chain Responsibility is or at least should be part of a company’s Corporate Social Responsibility (CSR) strategy. CSR is a strategy that managers use to monitor, maintain, and often times improve the environmental and social impacts of their companies as well as how they interact with all of their stakeholders not just the shareholders for which their operations effect. Managers should use their CSR plains to balance the expectations of their often competing stakeholders with their environmental, social, and economic goals. Some fundamental CSR concerns are stakeholder engagement, environmental impact, responsible sourcing of raw materials, standards and working condition of the labor force, social and gender equity as well as good governance and anti-corruption control. CSR approaches focus on what is called a Triple Bottom Line for measurable results. The three measures are profit which is the economic value that a company creates, social which is the how the company treats its labor force and the communities for which it operates in and environmental which is how the company is engaged in the creation and application of sustainable practices that produce reductions or eliminates environmental impacts. Supply chain sustainability is increasingly recognized as a key component of corporate responsibility. Managing the social, environmental and economic impacts of supply chains, and combating corruption, makes good business sense as well as being the
In my paper I will be discussing the topics related to corporate social responsibility. Corporate social responsibility (CSR, also called corporate responsibility, corporate citizenship, and responsible business) is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities and other stakeholders, as well as the environment. This obligation is seen to extend beyond the statutory obligation to comply with legislation and sees organizations voluntarily taking further steps to improve the quality of life for employees and their families as well as for the local community and
Cooperated with partners and leaders in the field of supply chains and transport, the World Economic Forum’s Global Agenda Council on the Future of Logistics and Transportation started to conduct research on the supply chain. The report “Beyond Supply Chains Empowering Responsible Value Chains” analyses the impact that supply chain practices has brought to business, society and environment, and explores the issue how shared value can be made through better supply chain decisions. The report identifies “a set of 31 proven supply chain practices which provide companies with a blueprint of where they can gain both commercial and socio-environmental advantage (both environment and local economic development)—driving a triple advantage” (). In addition, the report “provides a framework for evaluating the potential value at stake behind each of these practices, and an implementation framework for
Sustainable Supply Chain – working with and influencing suppliers to manage and reduce the environmental and social impacts of their operations and of the products and services they provide to Telstra.
Transforming a supply chain into a sustainable network is not an easy thing to do. Amongst the existing obstacles that Johnson (2004) gives us is the considerable size of this network: all along the differents ranks of suppliers that constitute the upstream of the chain, it is very hard to track the original source of the material and to broadcast best practices all accross that path. Furthermore, the lack of legal framework for labor conditions and environment preservation in developing countries makes it the more difficult to enforce
Almost every company understands the importance of supply chain to the efficient operation, which helps improve sales and profit. Starbucks is one of the most successful firms that apply good supply chain management that not only create value for itself but also for stakeholders. Supply chain is a whole process beginning from raw materials to end consumers. This process usually involves many parties such as suppliers, manufacturers, distributors, customers… Nowadays, firms also concern about ethics and sustainable supply chain as a critical criteria for corporate social responsibility practices, which Starbucks has been doing well so far. This report provides an overview of two main aspects of supply chain which are sourcing and distribution,
CORPORATE SOCIAL RESPONSIBILITY (CSR) is a term describing a company’s obligation to be accountable to all of its stakeholder in all its operation and activities. Socially responsible companies consider the full scope of their impact on communities and the environment when making decisions, balancing the needs of stakeholder with their need to make profit.
Supply Chain Sustainability (SCS) has been recognized as a key generator of business value and an important element of strong corporate responsibility performance. Throughout the management of environmental, social and economic impacts, and the encouragement of good governance practices, the main purpose of SCS is to create, protect, and grow long-term environmental, social and economic value for all stakeholders involved in bringing products and services to market. By doing so, the potential benefits could be brought by SCS would be impacts on value creation levers such as pricing power, cost savings, and market share….
In a recent time companies are giving more attention to develop a CSR (Corporate Social Responsibility) and mainly their core values. Core values are used in marketing strategies (Berry, 1999) also in customer-retention management in order to create distinctive, long-lasting relationships with customers (Prahald and Ramaswamy, 2004; Normann, 2001) and stakeholders (Pruzan, 1998; Post et a, 2002). The interaction with a stakeholder and concerns a business operation use to understood CSR as the voluntary integration of environmental and social, but it has failed to discuss and analyse CSR explicitly from the perspective of stakeholders (Andriof et al,2002; Post et al,2002).
Climate change, in 21st century, is an increasingly alarming issue and its negatively far-reaching effects on humanity can no longer denied. In terms of businesses, enterprises must seal their ultimate goal – maximising profit – with environmental protection because “consumers concern about global climate change within the context of sustainable consumption” (Newman et al. 2012, p. 511). The structures of supply chains, specifically, are believably one of the most vulnerable to environmental changes that managers must be aware of and deeply analysing. Traditional thoughts from the predecessors are usually employed to solve all managerial problems. Such remedies, however, must be further examined to suitable applied in this currently
A corporation ready to take responsibility for any impact of its decisions or actions of its stakeholders is one definition of corporate social responsibility. Incorporations corporate executives/ managers act in the interest of the people affected and involved within organizations known as stockholders. Many have argued thoughts on the topic of social responsibility, determining different groups to be served or to serve the corporation they exist, in this paper three articles will be examined. Milton Friedman will examine the stockholder model while R.Edward Freeman will concentrate on the stakeholder model and Joseph Heath on the market failures model. I will argue Joseph Heath’s market failures model
In today’s free-market economy, where is your reputation stand for as a corporation often more matters than what products or services you offer. How the people feel about a company is solely based on their perceptions of good feelings, admiration, esteem, and finally, their trust in the company’s Corporate Social Responsibility practices (CSR). The companies with the best reputations will receive recognition from the public for their efforts and are on the right path of building a sustainable business for the future. A good reputation may include safe products and services, best workplace environment, financial performance, technology innovation, respectable leadership, socioeconomic justice, corporate governance and citizenship, and
The responsibility of a business goes beyond just turning a profit, they also have an obligation to society. The stakeholders; consumers, employees, the community and the environment, all have a variety of needs that should be met by the company. These needs can include things such as safer more affordable products for the consumer, fair wages and good working conditions for the employee, or environmentally safe production practices that cut down on pollution for the community. Meeting these needs is known as Corporate Social Responsibility (CSR) and can have a profound impact on the company. Businesses, big and small, have an obligation to society to provide quality services while protecting the integrity of the environment and community surrounding them.
The founders played a big part in bringing success to the company. First, the founders positioned the company as a socially responsible entity that was really concerned with the welfare of society and the environment at large. As an example, the company was actively involved in supporting the World Wildlife Fund and planted 52 million trees. The founders believe that corporate social responsibility initiatives were not meant to boost the image of the company but to ensure environmental sustainability. Secondly, the founders also successfully adopted a decentralized business model that allowed workers to feel empowered. For instance, various teams in the company played a big part in negotiating critical business deals such as the
Corporate social commitment is the term used to portray the way that a business considers the cash related, characteristic and social impacts of decisions and exercises it is incorporated in. The piece of Corporate Social Responsibility in the business world has made from a fig leaf publicizing front into a fundamental piece of corporate behavior over the span of late years. Conservative frameworks are regarded, pined for and passed on additional by appropriate players in various business endeavors all around all through the world. Both investigation and corporate practice thusly see CSR as a controlling rule for business accomplishment.
Corporate social responsibility of the company manifests itself not only to customers but also employees and environment. In the brand’s core there are based principles of respect and understanding for the normal functioning of all processes starting from the development and production to marketing and sales of finished products. The LVMH values in people their interests, needs and values (Social Responsibility, n.d.). This policy is ideally focused on developing new ways of production and using raw materials and resources in innovations according to environment changes. That is why, one of the most important parts in production of product plays The LVMH Environmental Department. The main objectives of the Department are aimed at designing of products by using new innovations and controlling environmental risks (Environment, n.d.).