Contents
Introduction………………………………………………………………………..…2- 1.1 Aim of the Report
- 1.2 Scope of the report
- 2.0 Concept of CSR……………………………………………….…………………...….3
- 2.1 Pyramid Concept of CSR adopted by organizations
- 3.0 Core Characteristics of CSR……………………………………………………….....5
- 4.0 Analysis of CSR at Tesco…………………………………..…………………….…..6
- 5.0 Importance of CSR in Business Sphere………………………………........................8
- 6.0 Corporate Strategy & CSR……………………………………….…………….……..9
- 7.0 Conclusion……………………………………………………..…………….............10
- 8.0 References…………………………………………………….……………………...11
Description
It goes without any saying that the concept of CSR has grown into importance in the recent years. The CSR principles and policies have been awarded a lot of attention due to mismanagement or sometimes due to public scandals. To rope in this complex phenomenon, it becomes imperative for the organization to provide detailed description about organization’s activities and if they meet with industrial standards. In rapid competitive business scenario, organization’s business activities and other actions impact the society and the negative impact can hamper the image of the organization as bad publicity spreads faster with communication channels like internet. This gives rise to the concept of CSR in which every person has a stake and adopt to changing needs in the contemporary competition. The role of CSR activities is to ensure that all the business actions are legal and are performed as per accepted standards. This is because organization activities and varied actions can impact the future generation. Nowadays organizations not only run their business with an aim for profit rather to make it a profitable venture has to serve the varied needs of stakeholders which includes employees, government, managers and general public at large.
In modern era, businesses are no more performed in a vacuum but function on a global scale leaving an impact on the entire world. CSR is considered as a competitive strategy to succeed other organizations by protecting organizations image. The CSR activities help build trust in public, protect brand identity, occupy competitive position in the market place and building credibility which can take organization to great heights.
Seeing this progress, the report highlights on the concept of corporate social responsibility and how it has grown into prominence in the last couple of years with reference to Tesco – Uk’s largest supermarket. The project report is divided into different stages which start with defining CSR and its core characteristics. To delve into the concept of CSR, pyramid model has been used in reference to CSR activities of Tesco in UK.
The later half of the report identifies the importance of CSR and how it helps establish a strategic position in business. Then the report links the connection between CSR and corporate strategy. In other words, the relationship between two has been explained at greater length. The report closes with a small conclusion which tends to explain how important it is to incorporate social responsibility in business strategy to enhance brand image.
