The paper "Effective Corporate Social Responsibility Program - Triple Bottom Line " is a great example of marketing coursework. In today’ s corporate world, Triple Bottom Line (TBL) reporting plays a significant role in strengthening the firm’ s reputation. TBL reporting is a method used in business accounting aimed at expanding the shareholder’ s knowledge of the firm. Moreover, TBL reporting is above the typical financial aspects and discloses the firm’ s impact on the world around it. Similarly, effective pre-planning of the Corporate Social Responsibility is important in driving the business in the right channel as it determines the company’ s resources that can be devoted towards CSR.
In their proposition, (Wang & Lin, 2007) posit that effective pre-planning of CSR helps the firm to evaluate its capability to be socially responsible and as such settles on the best strategy that would strengthen its competitive advantage. As such, this paper aims to argue that an effective CSR program depends on both Triple Bottom Line reporting and effective pre-planning of the CSR program is very important. To delineate this, the paper will start by looking at the background of CSR followed by the TBL concept and ultimately the pre-planning of the CSR program. 2.0 Background to Corporate Social Responsibility The idea that firms have far wider responsibilities to society other than making profits has been in the business world for many centuries.
However, the idea of CSR started off practically after World War II and as such surged its importance in the early 1960s and beyond (De Schutter, 2008). Since then, the concept of CSR has always been among the top agendas of all companies as it determines the company’ s reputation.
Thus, it is important to note that CSR is important to the company’ s success because of various reasons. To begin with, a business which is initiated with long-term self-interest, as well as enlightened self-interest goals, must be socially responsible. This is because if a firm is to have a healthy environment in which it is to operate in the future, it must be involved in activities that are related to ensuring its long-term viability. Secondly, being socially responsible will perfectly match with forestalled government’ s future interventions with regard to environmental sustainability as well as consumer protection policies.
This means that a firm must come up with socially responsible policies thus being self-disciplined and fulfilling the society’ s expectations (De Schutter, 2008). In other words, a business that has an effective CSR strategy often ‘ wards of the government’ s regulation. ’ For instance, the Shell Company came up with Strategies that would help reduce the amount of carbon emitted during the processing of its oil products before the Copenhagen Agreement of 2009. Thus, the company was not caught off-guard by the Agreement’ s stringent measures that sought to regulate the amount of green gasses emissions from firms.
Thirdly, Frederick (2008) holds that firms have the resources and as such, they should be left to solve many of the social issues that the society has failed to address. Moreover, Carroll and Buchholtz (2009) believe that it is important for businesses to be proactive in order to avoid reacting during a crisis. They argue that a business should always anticipate, plan and later initiate CSR programs to avoid crises as it is more practical and less costly than reacting to disasters once they have surfaced.
Ultimately, CSR initiatives are very important in marketing the business as the public strongly support s such activities. The public believes that apart from making profits, firms are responsible for the society and therefore engage in environmental sustainability projects, sponsorships and hiring of the locals to work in the firms.
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