Advantages And Disadvantages Of Corporate Social...

Benefits, challenges threats of CSR Jacqueline Burmeister LIM College Key benefits of CSR programs Corporate Social Responsibility (CSR) programs should support what a company believes in and thus reinforce its core values. For-profit companies can build an alliance with a non-profit organization or like in the case of the Pink Pony Fund of The Polo Ralph Lauren Foundation; a company can found a program that embraces one or several social initiatives by itself. The fashion industry is widely criticized for its negative effect on environmental and social issues such as landfill and fast-fashion consumerism. Contributing to the greater good of the community enables companies to have a†¦show more content†¦A successful program can reduce a company’s costs, increase sales and improve its reputation within the market, all of which keeps shareholders happy and attracts new investors. In 2011 the company Levi Strauss Co. launched a program focused on its employees’ well being. â€Å"The initiative has created proven, sustainable business and social benefits at al l levels of the supply chain, including a demonstrated 4:1 return on investment for some programs.† (Levi Strauss Co., 2017). Last week, the company was ranked number eleven in Fortune’s Change The World List, which evaluates companies that improve social and environmental issues as part of their economic growth strategy. (Leaf, 2017) Main challenges of CSR programs During the process of implementing a CSR program, a company can face a vast range of challenges. One of them is the selection of an appropriate social issue as the core of the initiative. The issue should not take the attention away from the brand whilst being relevant and reaching consumers emotionally. Companies need to take into account people’s perception of the right type and right amount of help, how much is enough? When it comes to raising finance for a CSR program companies face another challenge. Departments and shareholders need to be convinced that the investment is beneficial for everyone involved. On the other hand, companies need to watch carefully what the market, inShow MoreRelatedCorporate Social Responsibility : Csr923 Words   |  4 PagesCorporate Social Responsibility Introduction Corporate Social Responsibility (CSR) is part of the reality of doing business. CSR is also known as corporate science, corporate citizenship or responsible business. CSR is important for both business as well as society. CSR is all about how a company is able to show and manage its positive impact on the society. CSR is able to earn its own name in the world of business. 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