The five strategic driving forces of CSR are: 1- firms incorporate a CSR perspec

Question

The five strategic driving forces of CSR are:

1- firms incorporate a CSR perspective within their culture and strategic planning process

2- any actions taken are directly related to core operations

3- firms seek to understand and respond to the needs of their stakeholders

4- they aim to optimize value created

5- they shift from a short-term perspective to managing their resources and relations with key stakeholders over the medium to long term.

Pick one of them and go into depth with appropriate definition and examples. Is there any one that you feel is more important than others? Defend your choice with examples from your own experiences and knowledge.

Explanation / Answer

Among all the forces given firms incorporating a cSR perspective within their culture and strategic planning process is the most important . When a firm tries to include CSR in it's culture, it automatically includes it in it's every step and decision. This helps in satisfying all the other forces like caring for stakeholders. Hence the firm must first incorporate CSR in it's culture. This means The firm must put the welfare of stakeholders in mind and other environmental responsibilities it has while taking decisions, planning strategies and implementing them in the firm. It must also be socially responsible in the way it operates the firm. For example a firm which incorporates CSR will decide to not use plastic and use only papaer and dump the waste in the allocated area instead of leaving it outside so that people will not get effected and the environment will not get polluted. This helps in safeguarding the health of the stakeholders. Likewise firms deciding to give certains hare of profits for stakeholders and do something for them is also an example of the firm incorporating CSR in it's culture. Hence incorporation of Csr is the most important of all the five forces.

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