This study deals with explaining the concept of Corporate Social Responsibility. In this particular assignment, proper emphasis has been given to understand about CSR approach with a help of an article. The name of the article is “Sowing the seeds of Corporate Social Responsibility” and written by “Drew Neisser”. The article was published in the year 2016 in Forbes. The current segment explain about why CSR approach at Cargill is described in this article appears to be successful in consecutive years. The next segment discusses about corporate social responsibility (for and against) by presenting in an argumentative way (Lewis, Passmore & Cantore, 2016). At the end, it is recommended whether company should adopt Corporate Social Responsibility or not within their operations. Several researches had been conducted where it is noted that CSR activities has brought evidence of the measurable payoff that help or guide both companies as well as stakeholders. There are several benefits to Corporate Social Responsibility such as reducing cost, reducing risk, developing as well as maintaining legitimacy, gaining competitive advantage, developing reputational capital as well as achieving win-win outcomes by using value creation models (Oreg, Michel & By, 2013).
Corporate Social Responsibility is one of the business approaches that mainly contribute to sustainable development by delivering economic, environmental benefits as well as social benefits to all the stakeholders (Kossek et al., 2014). In addition, CSR is one of the concepts that have several definitions and practices. The concept of CSR is such a broad concept that addresses several other topics also like corporate governance, working conditions, human rights as well as contribution to economic development and health & safety. The main aim of Corporate Social Responsibility is to drive changes towards working by using sustainable means (Lewis, Passmore & Cantore, 2016).
The term Corporate Social Responsibility is a widely used concept like stakeholder management, corporate citizenship as well as business ethics and corporate social performance at the same time. This study properly discuss about business case for Corporate Social Responsibility that highlights the allocation of business by the business community for advancing certain socially responsible cause (Kanaane et al., 2015).
Corporate social responsibility takes into account dual objectives that pursue benefits to both business as well as society as a whole. Most of the company track CSR activities as it reflect upon the personal interests of individual senior executives (Hornstein, 2015). It is necessary for the business enterprise to balance limited resources as well as effort as the challenge is to deploy maximization of benefits to the business that includes both shareholders and stakeholders. Moreover, it is required to start mapping current portfolio of CSR initiatives on the framework as well as understanding the current initiatives and benefits for addressing the key strategic challenges as well as opportunities at the same time. There are three main principles linked with Corporate Social Responsibility and it need to move towards this goal in the near future (Hayes, 2014).
The first principle is concentrating on CSR efforts by the company. It is understood that management time as well as resources are quite limited by nature and consider as greatest opportunities and business interact with and has greatest impact on society (Oreg, Michel & By, 2013). Furthermore, business should have proper understanding of mutual dependencies but even it had potential for existence of mutual benefits as a whole.
The second principle is building a deep understanding of the benefits. It is needed to select areas of opportunity after finding the potential for mutual value creation. Furthermore, the main requirement is to find symmetry between two sides as well as understanding issues from the perspective of business and society as a whole (Goetsch & Davis, 2014).
The third principle is to find the right partners. This means getting benefit from core business activities as well as capabilities at the same time. It is a known fact that collaborating is difficult but there is greater motivation that needs to be realized after looking at the substantial benefits. Furthermore, relationships are built upon realistic understanding of true strengths as it has greater opportunity of being successful as well as sustainable (Clegg & de Matos, 2017).
The article on “Sowing the seeds of Corporate Social Responsibility”, explain about CSR approach. The article originally appeared on AdAge.com on 8th of June 2016 by drew Neisser (Contributor, 2017). He was the founder and CEO of Renegade. Nowadays, marketers explain about the fact where CSR provides a perfect opportunity to put the company brand into action. Cargill is one of the private companies located in United States with 2000 locations as well as operates in more than 70 countries (Carter et al., 2013). The company invests in these communities for fostering a strong present as well as future workforce. Cargill is carrying out similar projects in and around the world. Furthermore, corporate social responsibility is all about improving the lifestyle and standards of human beings and people ad doing it in a way that is directly linked to business as well as brand strategy. The CSR activities at Cargill grow from the soil of its core business and then this brand aims at providing nutrients (Oreg, Michel & By, 2013). The main aim of this company is to become global leader so that they can nourish people. This brand actually promises that where stakeholders will be most successful by collaborating with Cargill that leads to the brand expression. The program that might best represent CSR success of the company comes in the form of sustainable as well as responsible supply chain management. Nowadays, supply chain management remains a central part of the expertise for the company where it need to use the tool for partnering with PWC as it help customers to streamline as well as greening up their own operations (Cameron & Green, 2015).
One of the frameworks named as Cargill who are deciding to help customers so that they can reduce cost in their supply chain for advancing their sustainability goals had implemented responsible supply chain framework (Benn, Dunphy & Griffiths, 2014). In addition, the company makes an effort to recognize their existing achievements in sustainability as well as reducing risk by identifying practices that need to be addressed.
However, CargillVoice team aims at providing enough or adequate information on significant topics that help or assist business as well as other stakeholders. It is important to understand about creating a diversified as well as dynamic hedging strategy in recent complex commodities markets at the same time (Barends et al., 2014). Furthermore, the stories on the article explain about the practices as well as products and services that assist people and organization in the most appropriate way.
Several argued for and against implementation of Corporate Social Responsibility in major companies.
CSR may not be successful for other companies as taking on social as well as moral issues is practically or economically not feasible. Rather, Business Corporation need to focus mainly upon attributes such as earning a profit for their shareholders as well as leaving the social issues to others. Companies are not well equipped to deal with social issues or problems. Assuming social responsibilities places companies doing so at a competitive disadvantage as it is relative to those who do not perform well (Anderson, 2016).
On the contrary, CSR is always successful as in the corporate world; they should assume responsibility for addressing these issues as far as possible. There is rise of modern Business Corporation now as well as continues to create or solve social issues. Most of the Business Corporation has huge reserve of human as well as financial capital (Lewis, Passmore & Cantore, 2016). The company should aim at devoting at least some of their resources for addressing social problems or issues. It depends upon the best interest of the Business Corporation who will work towards solving social related problems. By working upon social related issues, the company can increase the chances that they will have a future as well as reducing the chances of increase governmental regulation (Kanaane et al., 2015).
The competitive argument highlights the fact that addressing social issues comes at a cost to business. By this, it is understood that business internalizes the costs of socially responsible actions if the company hurt their competitive position relative to other business activities. Furthermore, the argument shows relevancy in a globally competitive environment when business in one country tends to expend assets for addressing social problems. However, Corporate Social Responsibility is becoming global concern nowadays, as there is differences noted in societal expectations in and across the world as it is expected for lessening in the future years (Oreg, Michel & By, 2013).
It is recommended to the company that they should implement Corporate Social Responsibility activities. There are several benefits when company applies CSR strategy in their plan of action and some of these are as follows:
Conclusion:
At the end of the study, it is concluded that Corporate Social Responsibility in recent times is becoming popular and companies are engaging to implement this CSR activities for attainment of future goals as well as objectives in the end. The above analysis explains about CSR activities with the help of article. The above study discusses about why CSR approach at Cargill appears to be successful by citing instances from the article. In addition, it is even noted that CSR has both advantages and limitations and both the sides had been properly explained in the above study with proper justification.
Reference:
Anderson, D. L. (2016). Organization development: The process of leading organizational change. Sage Publications.
Barends, E., Janssen, B., ten Have, W., & ten Have, S. (2014). Difficult but doable: Increasing the internal validity of organizational change management studies. The Journal of Applied Behavioral Science, 50(1), 50-54.
Benn, S., Dunphy, D., & Griffiths, A. (2014). Organizational change for corporate sustainability. Routledge.
Cameron, E., & Green, M. (2015). Making sense of change management: A complete guide to the models, tools and techniques of organizational change. Kogan Page Publishers.
Carter, M. Z., Armenakis, A. A., Feild, H. S., & Mossholder, K. W. (2013). Transformational leadership, relationship quality, and employee performance during continuous incremental organizational change. Journal of Organizational Behavior, 34(7), 942-958.
Clegg, S., & de Matos, J. A. (Eds.). (2017). Sustainability and organizational change management. Routledge.
Contributor, C. (2017). CargillVoice: Sowing The Seeds Of Corporate Social Responsibility. [online] Forbes. Available at: https://www.forbes.com/sites/cargill/2016/06/16/sowing-the-seeds/#20bd17903598 [Accessed 25 Dec. 2017].
Goetsch, D. L., & Davis, S. B. (2014). Quality management for organizational excellence. Upper Saddle River, NJ: pearson.
Hayes, J. (2014). The theory and practice of change management. Palgrave Macmillan.
Hornstein, H. A. (2015). The integration of project management and organizational change management is now a necessity. International Journal of Project Management, 33(2), 291-298.
Kanaane, R., Akabane, G., Peterossi, H., & Endler, D. C. N. (2015). Organizational Change Management in a Strategic Perspective. American Journal of Management, 15(2), 88.
Kossek, E. E., Hammer, L. B., Kelly, E. L., & Moen, P. (2014). Designing work, family & health organizational change initiatives. Organizational dynamics, 43(1), 53.
Lewis, S., Passmore, J., & Cantore, S. (2016). Appreciative inquiry for change management: Using AI to facilitate organizational development. Kogan Page Publishers.
Oreg, S., Michel, A., & By, R. T. (Eds.). (2013). The psychology of organizational change: Viewing change from the employee’s perspective. Cambridge University Press.
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