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Compose a 2000 words essay on Research Project : Corporate Social Responsibility. Needs to be plagiarism free!Before moving on to the discussion, the concept of CSR needs to be understood. CSR signifi
Compose a 2000 words essay on Research Project : Corporate Social Responsibility. Needs to be plagiarism free!
Before moving on to the discussion, the concept of CSR needs to be understood. CSR signifies sustainably doing business in line with society and environment. To analyse and discuss the different facets of CSR in the present scenario, two companies have been chosen, namely Nestle, and Mars Incorporation. Both of these companies belong to the same food processing industry. Nestle was established in 1905, in Switzerland. It produced dairy products, pet foods, ice-creams, chocolates, Maggi. Nestle has around 328,000 employees around the world. Mars Incorporation on the other hand is an American food processing company established in 1920 in Minnesota. Mars Incorporation also sold products like confectionary, pet food, etc. Mars Incorporation has more than 70,000 employees. The basic concept of CSR may be the same for both Nestle and Mars Incorporation, but since both of these companies have diverse visions, and mission, so they are bound to have different approach towards CSR. Nestle follow a pyramid model which has three levels. The first level is compliance, environmental stability, and creation of shared value. On the other hand, Mars Incorporation follows Five Principle models, which consist of elements like quality, efficiency, responsibility, freedom, and mutuality1. Potential Benefits of CSR In the digitally fast world, every business whether big or small should have CSR program, as it is beneficial for them in many ways. The expectations of the customers, community and the employees from the companies have changed. It is no longer only tied to money or profit, so CSR in this scenario assist companies to meet the expectations of its stakeholders. CSR activities ensure satisfied employees, as employees feel proud of their organisation for the activities they are involved in. It ensures satisfied customers because customers want themselves to be associated with those companies which have a strong goodwill in the market for its social service. CSR creates positive PR for the companies by enhancing their goodwill in the market through word of mouth. It reduces cost and assist in availing more business opportunities, leading to long-term sustainability of business. CSR activities conducted by the company involve high costs, but at the same time companies utilising CSR framework in a strategically correct manner has been also successful in reducing cost. For example reducing carbon footprint has increased the efficiency of the companies, leading to an increase in production capacity and profitability. Nowadays companies are trying to present CSR activities as cost to the company and save tax, but it is actually a part of profit that they are returning to the stakeholders. The stakeholders are those individuals, groups and the society which gets affected by the actions that the organisation undertakes. As far as Nestle is concerned, stakeholder’s engagement plays an important role in their company. The company organises stakeholder converging in order to discuss and identify the concern and expectations of th