The paper "Business in Society - the Business Case for Starbucks’ CSR Activities " is a perfect example of a business case study. A company needs to do CSR on the fundamental basis that business and society go hand-in-hand. While organizations form an integral part of the communities they operate in, for the business to succeed it is important for the society to be progressive as well. Therefore, a comprehensive CSR strategy that is based on ethics, values and long-term goals can offer various business benefits. Such a CSR strategy would ensure that the corporate goals are aligned with those of the communities they operate in.
Further, it would help the company to maintain its reputation, secure its license for continual operation and reduce the company’ s exposure to risks and liabilities (McWilliams 2000). For a CSR strategy to succeed, the company needs to formulate a business case that has long-term objectives and clearly define the number of returns the company is expecting from its social spending. Such return-over-investment (ROI) is just not linked financially, but companies through an effective CSR campaign can create a strong reputation in the market.
This in turn would help the company to ask for higher prices for its products and stocks, attract better talents, build long-term relations with suppliers and reduce crises (Burke 1996). Further, communities play an important role in deciding the company’ s ability to function within a society. Therefore, in order to save its license to operate in a certain community, the company needs to build strong community commitments in its strategy. It should focus on building flourishing societies and a strong social fabric which would in turn help the company in creating a sustainable market for its products and services (Freeman 1991). Due to globalization, business dynamics have changed considerably in the last decade.
Now, companies have to also focus on working for international communities in which they operate and strategies their CSR policies as per their requirements.
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