1. Wayne Visser’s Age of Responsibility persuasively and elegantly demonstrates the failures and the limits of the traditional Corporate Social Responsibility (CSR) and reforms necessary for creating conditions for authentic corporate responsibility and termed it as CSR 2.0 (Visser, 2014). He not only helped in identification of the five overlapping economic periods but also classified the stages into key enablers, stakeholder target and modus operandi. Besides, he also identified five principles of CSR 2.0, which included creativity, scalability, responsiveness, circularity, and locality that also acts as key drivers of the Age of Responsibility.
The reasons for the companies to consider sustainability seriously are as follows:
The consequences of ignoring sustainability as a driver by companies’ results in financial crisis, reduced growth, influences the process of strategy and decision-making at every level of the company (Gast, Gundolf & Cesinger, 2017).
3. Visser viewed Walmart as an example worthy to emulate as it incorporates the aspect of sustainability in all its operations. Some of the sustainability initiatives of Walmart are as follows:
Some of the problems faced by sustainable companies in introducing sustainable products and services include:
The best practices of Walmart in terms of sustainability are as follows (walmart.com, 2018)
Although the primary objective of Walmart is profit but it should pursue sustainability because it will help the supermarket chain in achieving significant and lasting improvement in environmental and social outcomes and help in achieving aspirational goals for creation of zero waste (walmart.com, 2018).
4. Responsiveness in the Age of Responsibility not only represents higher transparency in the mechanism of reporting like the Carbon Disclosure Project and the Global Reporting initiative but sharing of the critical intellectual resources (Visser & Tolhurst, 2017). For instance, The World Business Council for Sustainable Development (WBCSD) introduced the Eco-Patent Commons for ensuring the availability of the technology patents without any royalty thereby helping in reducing pollution, waste, demands for energy and global warming. This represented one of the steps in right direction. The donor exchange platform represents one such platform that allows the corporate donors and the individuals in connecting directly to the beneficiaries through web thereby tapping into the longer tail of corporate social responsibility.
On the other hand, scalability does have its limitation to retail sector (Krisnawati, Yudoko and Bangun 2014). To explain scalability the example of Muhammad Yunus is drawn who built the rural bank for providing loans up to $2.5 billion to the enterprise after the devastation caused by the Bangladesh famine. The loans provided had been a lesson of scalability as the loans spawned over close to 3000 microcredit institutions across 50 countries that reached over close to 133 million clients. On the other hand, Toyota is credible with the premium priced the Prius for rich while it Tata remains eco friendly and cheap for the masses with Nano. Tata’s eco friendly car represents a scalable solution with instant impact.
The trade-off between responsiveness and scalability is defined through the following practical steps:
References:
Gast, J., Gundolf, K., & Cesinger, B. (2017). Doing business in a green way: A systematic review of the ecological sustainability entrepreneurship literature and future research directions. Journal of Cleaner Production, 147, 44-56.
Jabareen, Y. (2013). Planning the resilient city: Concepts and strategies for coping with climate change and environmental risk. Cities, 31, 220-229.
Krisnawati, A., Yudoko, G. and Bangun, Y.R., 2014. Development path of corporate social responsibility theories. World Applied Sciences Journal, 30, pp.110-120.
Laszlo, C., & Cescau, P. (2017). Sustainable value: How the world’s leading companies are doing well by doing good. Routledge.
Lozano, R. (2015). A holistic perspective on corporate sustainability drivers. Corporate Social Responsibility and Environmental Management, 22(1), 32-44.
Visser, W. (2014). CSR 2.0: Transforming corporate sustainability and responsibility. New York, NY: Springer.
Visser, W., & Tolhurst, N. (2017). The world guide to CSR: A country-by-country analysis of corporate sustainability and responsibility. Routledge.
walmart.com (2018). [online] Available at: https://corporate.walmart.com/global-responsibility/sustainability/ [Accessed 5 Dec. 2018].
walmart.com. (2018). Retrieved from https://corporate.walmart.com/global-responsibility/sustainability/sustainability-in-our-operations
walmart.com. (2018). Retrieved from https://corporate.walmart.com/_news_/executive-viewpoints/making-sustainability-sustainable-lessons-weve-learned
walmart.com.(2018). Retrieved from https://corporate.walmart.com/global-responsibility/sustainability/sustainability-in-our-value-chains
Welford, R. (2013). Hijacking environmentalism: Corporate responses to sustainable development. Routledge.
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