Question

• Describe at least two benefits to companies implementing corporate social responsibility (CSR) and shared value strategies. Include at least two examples of companies that have adopted CSR OF shared value, and discuss how they benefited from them. Your response should be at least 150 225 words (2-3 paragraphs) in length.

Answer 1

Benefits of CSR and Shared Value Strategy are are as follows:

• CSR helps the organization in gaining better brand recognition.
• CSR helps the company to increase its sales and also to gain customer loyalty.
• It helps the company to save on its operational costs. It helps the company in efficient utilization of resources by and reduction of wastage.This also helps in keeping environment clean and lowering electricity bills.
• It makes for the organization to get easy access to raise capital. A company implementing CSR is able to enjoy good reputation and enjoys a positive image in the eyes of investors and government.
• It helps the company to have less regulatory burden. This is because the company is able to enjoy better relationships with the local authorities.
• Shared value strategy particularly helps the company to gain competitive advantage by innovating and technologically upgrading traditional business and also by expanding to new markets.

Companies adopting CSR:

• TOMS It introduced the campaign "One for One".According to this campaign company will donate one pair of shoes for every pair purchased.They also invest in jobs, social entrepreneurship, and integration with other charitable organizations through their Giving Partners program.This has help the organization to gain brand recognition. customer and employee appreciation and also it has helped to gain positive image in the eyes of investors and government.
• Deloitte It believes in "commitment to driving societal change and promoting environmental sustainability” It works on innovative solutions along with government and NGO's. It encourages its employees to donate time to pro bono work.This pays off for the company as well. In fact, 83 percent of Deloitte employees say that pro bono work has made a positive impact on job satisfaction and 60 percent reported “significant gains in job-relevant skills”.