BUS402 Week 5 Discussion Forum 1

Corporate Social Responsibility (CSR) is a business model that requires companies to be socially accountable to themselves, the community, employees, shareholders, and all stakeholders. When companies engage in CSR, they tend to benefit society and the environment positively. Besides, CSR is a valuable model for a company as it helps to boost the morale of employees and build a stronger bond with employees (Abraham, 2012). CSR also helps to create an excellent reputation for companies because of the positive image that the company displays to the community, employees, and all stakeholders involved. Examples of companies that go the extra mile to give something back to their employees, the community, and the whole world at large include Starbucks and Walmart. Among others, these companies feel that it is not enough to make money and satisfy customers but can give back to the community.

Since the beginning, Starbuck has been ensuring they operate ethically. In 2012, Starbuck was ranked by Fortune Magazine as the 5th most socially responsible corporation. Starbucks has enacted some guidelines called CAFE Practices to ensure they produce quality products that are environmentally, economically, and leadership accountable (Starbucks, n.d.). On top of that, Starbucks supports Ethos Water that provides clean water to many people.

Walmart is another example of practicing CSR. It has invested about $100 million in programs that strive to help its employees advance their careers in retail and fund training for 1 million farmers at the supplier level. They invest in and support communities through encouraging volunteerism, local giving, and through programs that strengthen community cohesion.

My company in Week 1 is Walmart. It is a multinational retail corporation that operates a chain of hypermarkets, grocery stores, and other merchandise goods. Walmart has become the largest grocers in the U.S. I would recommend Walmart to incorporate the environmental aspect of CSR. Walmart should focus on reducing wastes and using more renewable energy to reduce pollution SupplyChainDrive, 2018). Also, they should sell products that promote sustainability to the people and the environment.

References

Abraham, S. (2012). Strategic management for organizations. Retrieved from https://content.ashford.edu/

Starbucks. (n.d.). Responsibly Grown and Fair Trade Coffee. Retrieved from https://www.starbucks.com/responsibility/sourcing/coffee

SupplyChainDrive. (2018). Walmart’s improved social responsibility efforts begin with the supply chain. retrieved from https://www.supplychaindive.com/news/walmart-corporate-social-responsibility-efforts/521961/