Slide #9 in the PowerPoint slide for Chp. 12 lists a number of strategies for bu
ID: 1221611 • Letter: S
Question
Slide #9 in the PowerPoint slide for Chp. 12 lists a number of strategies for businesses to move forward with social responsibility. Study these strategies (use the links provided in the slide and do some research on your own - make sure to cite if used), and present what you think would be the best solution and why?
-Slide #9
Strategies for CSR
•Social Entrepreneurship: What it is…
–Starting ventures with the main goal of making a difference to society (not profit). E.g. Toms Shoes
–Creation of For Benefit B - Corporations
•Bottom of the Pyramid (BOP) Strategies
–Method: Focus on world’s poorest as a viable market
•Shared Value (Porter & Kramer, 2011)
–Creating value for customers and other stakeholders
–Similar to BOP. E.g. Nestle, India. Cisco Academy
•Conscious Capitalism (Sisodia, Mackey)
–The 4 Cs
–Whole Foods Market
Explanation / Answer
Social responsibility means caring for the society. A business is grown in the society, it uses main four resources i.e. Four M's (Man, Machine, Material and Management from the society. Thus it becomes the responsibility of the business to be responsible for the society also.
Among the given alternatives, Social entreprenuership can be thought as a complete CSR activity and as the method which acrually ensures not just the profit of the business but the care for all the society and stakeholders attached to it.
Social entreprenuership can take any form. Any idea which thinks of the concerns of the society in any form like providing cleanliness drives, care for environment, providing health facilities etc. are a part of social entreprenuership.
This method is best as i think because it involves a one to one connection between the society and the business. Not only that, proper evaluation of the programmes is possible and just like business, a social organisation can be thought to grow, and what business gets in response from the society might be something, which is immeasurable. Society can actually feel and evaluate as to which business actually concerns for them, which would mean a direct impact on the business.
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