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Winning strategy part 2Corporate social Responsibility in
Wave Riders Team A3
Tega Mine
Faizan Nick
Henry
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Content Definition of CSRElements of CSRBest practicesImplementation of the CSR wave riders Policy
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What is CSR?
CSR is a business decision making linked to ethical values, compliance with legal requirements, and respect for people, communities, and the environment around the world.
Source: (Aaronson, 2003)
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Main Elements of CSR
Economic: responsibility to earn money for owners .
Legal: responsibility to abide by the law .Ethical: responsibility to be fair and just.Voluntary: responsibility to promote human
welfare.
Source (Hopkins,2003)
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Best Practices of CSRSet measurable goalsStakeholder EngagementSustainability Issues MappingSustainability Management SystemsLifecycle AssessmentSustainability/CSR ReportingSustainability BrandingSource (Hopkins,2003)
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Application of CSR in Wave-Raiders
Kings of the European waters
Customer satisfaction
Reduce production
cost
Market share Quality
Effective supply chain
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CSR Policy Marketing department
Goal: market share strategic marketing campaign 2% of every sale that the we make will be
donated 100% recyclable product (less waste)Less wastage of resources
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CSR policy Production department
invest in new technology to make our product 100% recyclable to make an eco-friendly product (recycle and reuse)
Recycle – reduces cost of product by 17%
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CSR Policy Production department
Goal: reduce the lead time
Production plant will be located close to our suppliers
Reduce CO2 footprint
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CSR policy Finance
Goal: Customer satisfaction External audit Transparency
HRCreating equal opportunities to our employeesTraining and development program
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Any Questions or comments
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References Business for social responsibility.2003b. Overview of corporate
social responsibility . http://www.bst.org/BCRResources/Issuebriefdetail.cfnacocumentlD=48809(23june2003)
Corporate Social Responsibility's Seven Best Practices: Avoid Greenwashing Through Stakeholder Engagement. 2012. Corporate Social Responsibility's Seven Best Practices: Avoid Greenwashing Through Stakeholder Engagement. [ONLINE] Available at: http://greeneconomypost.com/csr-best-practices-11001.htm
. 2012. . [ONLINE] Available at: http://www.business.curtin.edu.au/files/GSB_Working_Paper_No._62_Corp_Social_Resp_A_definition_Thomas___Nowak.pdf
Hopkins, M 2003, 'The business case for CSR: Where are we?' International Journal for Business Performance Management, vol. 5, no. 2,3, pp. 125-40.