Managing Goodwill Through Corporate Social Responsibility

by Sunanda K. Chavan on Monday 27 December 2010, 11:11 AM | Category: Entrepreneurship| View: 1455 views
 
 
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Managing Goodwill Through Corporate Social Responsibility   

 

In today's sustainable and ethical sourcing field, Marks & Spencer is named the UK's greenest supermarkets in a survey. In the similar context the worst performer were Tesco, Asda and Netto. The environment and ethical performance of leading markets and stores were scrutinized in a survey. M&S was highly praised for its palm oil policies. It now stipulates the use of sustainable palm oil in many of its own-brand goods and is advised on the issue by WWF. M&S also scored well for its climate change policies which include a target of using non-crop derived biofuels in its fleet of vehicles.

Corporate social responsibility improves operational efficiency, risk management, favorable relations, access to capital, enhanced employee relationships, rise in reputation and branding.  Corporate social responsibility helps in sustainable development, solutions to environmental problems & collaboration with the internal and external stakeholders.

It is all about understanding the impact your business has on others, it means adapting to straightforward principles adhering to minimum legal requirements.

Corporate Social Responsibility includes:

Community Investment

Wellness and Nutrition

Ethics and Compliance

Diversity and Inclusion

Workplace Health and Safety

Kellogg and the Environment

Kellogg Company has a rich history of corporate social responsibility, a history that has grown and evolved to meet the complexities of today's business world and the challenges of a global society.  Our founder, W.K. Kellogg, sought to “invest my money in people.”  That legacy continues to guide our company and our people. Social responsibility is a way of life at Kellogg.  It means investing in and enriching our communities.  It means encouraging employee volunteerism.  But it means much more.  Our commitment to being a good corporate citizen also includes:

Protecting our environment

Selling nutritious products and advocating healthy lifestyles.

Acting with integrity and adhering to the highest ethical standards.

Promoting diversity in our work force and partnering with diverse suppliers.

Ensuring a safe, healthy workplace

Another great example is of BP, apart from dealing with petroleum products and fossil fuels it is own which has achieved the recognition of being eco-friendly, and highest recognition on global scale as adapting the needs accordingly to possess a sustainable society.  BP states that it recognizes the significant environmental and social challenges faced by the world in the 21st century. It believes it can, and should, play a part in addressing and resolving many of the issues associated with sustainable development. It also accepts that while the company can be part of the solution, it cannot and should not be the whole solution. Governments, companies and civil society must fins effective ways of working together.

Agreed to the norms and accepting CSR as social and moral duty instead of an additional responsibility will bring the concern new heights.  

 

     

 

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