Importance of Corporate Social Responsibility

Importance of Corporate Social Responsibility

Business are adopting Corporate social responsibility due to increase in the competition in the market and also providing awareness to people about right and wrong for educating them for better decision-making (Choate and et.al., 2016). Corporate social responsibility is not a compulsion and any regulations but it is done voluntary by the organization to gain better market share and compete in the market effectively. Businesses need to adopt CSR as it helps them in many ways to increase their productivity and increase in size.

• CSR helps Unilever to increase its public image and make them more effective in selling their products to its customers.
• Unilever is more cost-efficient due to CSR as it helps to reduce to marketing cost and promotional cost as company gains better reputation and increase customer base size effectively.
• CSR also help Business to achieve objectives and increase probability and expand in new market effectively. Sue to increase in brand value and brand equity Unilever is also eligible to receive premiums on their product and services effectively.
• Unilever has improved their strategy to penetrate in the market as it helps to develop better values in society. This helps company to achieve competitive advantage and increase the survivability in the market effectively.
• CSR also increases the opportunity of the company to grow and make effective innovation according to need and wants of customers and maintain the efficient to provide better satisfaction to its customers and make them loyal to the company effectively.
• CSR increase organizational culture of Unilever which helps to develop effective values for the company's vision in employee. This helps to increase the retention power of company and make them more effective in achieving the objectives of the company.
• Corporate social responsibility also increased the transparency in of operation of the business and maintain the quality of decision-making. Unilever is more effective.
• This also helps Unilever to promote workforce diversity and increase the efficiency of the employees to achieve its objectives and expand their business in the whole world.
• CSR also helps to reduce liability by improving the quality of products and services which helps to gain better profitability and increase revenue generations to support other activities of company effectively.

Challenges of Corporate Social Responsibility

It is known that it is very essential for the for businesses to adopt CSR in the organization as it has many benefits and profit effective opportunities to grow and expand business in the market. However, there are many challenges which impact the success of CSR in the organization and also negatively decrease the image of company. Unilever need to understand all the challenges which can impact the quality of activities and focus on formulating effective strategies to resolve all the issues.

Lack of Vision

Vision of the company play a very important role in integrating the community and increasing the value of society effectively. With the lack of strong vision the activities has no value and it its worthless for the company to perform.

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Lack of Community participation

CSR is also ineffective if the local community is against the objective of the social activities they are not part of it. Which decreases the efficiency of corporate social responsibility of business and impact the image which decline the overall efficiency of business to earn more profit margins. Lack of participation of society is also an evidence that people have no trust on the company.

Issues in transparency

Transparency is very essential to make successful CSR activities in the society and for the company need tom -provide all the information to community about all financial reports and how many funds are utilized in the CSR activities to gain the trust of community and make the customers of the company effectively.

Communication factor

Communication is also a challenge which impact the activities of corporate social responsibility for business as lack of proper information to society can lead to misunderstanding and also creates agitation in the society against company's products and services adversely. Lack of knowledge is another factors which impact CSR activities of Unilever as community need to have proper awayness of all the activities and the benefits which are done with it. For example, Toyota adopted social responsibility and adopted electric cars as their products to safeguard global worming. Toyota also provided better information to the public so that it increases their trust on company.

Ineffective Government

Government has also impacted in the success of CSR as they are responsible in many cases to develop to perform activities in the society but due to lack of proper skills and knowledge in government the activities were inefficiency which reduced the trust on company. .

Unsupportive workforce

Due to ineffective participation of the employees also impacts effective CSR in the society and disturb the value of business organization in the market negatively. Unilever also analyses this factor which is a major challenge as this helps company to determine that employees are not skilled effectively and also reduce the efficiency of business. This helps business to gain knowledge that cultural values of company is not effective and need to be changed and upgraded to make employees more effective and understanding.

CONCLUSION

This report concludes that corporate social responsibility is very essential in any business to gain effective market share and increase sales (DiPaola and Wagner, 2018). The activities which are practices by company need to be more society centric to develop their knowledge. There are also many challenges which potentially impact the success of social responsibility activities of businesses and also had to be analysed to make effective strategies to achieve them effectively.

TASK 2

Description

I have been assigned to do a project which helped me to understand the importance of corporate social responsibility of businesses to increase their skills. I made proper schedule of my report formation and used internet to understand all information and project in my report writing effectively (Figurska, 2016). From the report I have learned that it is very important to perform social responsibility and improve the efficiency of business to attain objectives effectively. This helped me to gain better information about all the skills which are required to make the report to develop my knowledge and to make effective decision. I wanted to learn all the skills to generate effective performance in my life and also become more efficiency person to achieve objectives.

Feelings

I am feeling that communication skills is very essential to gain better information and perform effective learning process (Margariti, 2018). I feel that managers of multinational businesses faces many challenges due to lack of effective communication skills, team work, time management skills, information and communication technology skills to formulate effective corporate social responsibility in the market. This has increased my thinking of importance and benefit of conducting personal development plan and motivating myself to attain all the skills and increase my potential to achieve all the objectives effectively. I think that personal development plan provide broad understanding about my strengths and weaknesses to gain better understanding of my tasks. I feel more confident in understanding all the skills and self evaluate them.

Evaluation

In the report while writing about corporate social responsibility I gained knowledge about intrapersonal skills which is very important to formulate effective vision which need to be integrated with the society to increase trust of customers (Rønnestad, Orlinsky and Wiseman, 201. This report has also increased the efficiency of my learning process and provided me bring knowledge about all the skills required to increase my engagement with other people around me. I also helped myself by reading more books and gain better information about social responsibilities to understand the issues which are faced by companies and made me more concerned about society as they are not more educated. I have seen more people uneducated then to listen to companies. By this report I also understand that it is very essential to self asses the skills and knowledge of own self to make sure the efficiency to achieve the objective assigned by superiors (Verweij and et.al., 2018).

Analysis

Report on corporate social responsibility also helped me to gain information about developing cultural values which are important to develop my personality and lifestyle in a way which helps time to increase my learning process and increase the efficiency to gain information and communication technologies (Ruddy, Thomas-Hemak and Meade, 2016). As I am very effective in using internet and I used computer to make my presentation properly It also helped me to understand all the factors and challenges of corporate social responsibility in making the report. With the help of this report I also learned that it is very important for any person be had effective team work skills and problem solving skills in corporate world and improve their efficiency to make effective tasks (Perry, 2017). Time management skills helped me to understand my strengths and weaknesses to formulate effective personal development plan and motivate myself to become more productive. This report developed my research skills to provided me to make this report.

Conclusion

I have learned about ate importance of interpersonal skills to generate value and improve relations with other people around me. I had also understood process of learning all the skills and increasing my efficiency to make report (Jaeger, 2018). I also learned that it is very important for me to gain information about all the skills to make effective career. I learned that managers which don't have communication skills, problem solving skills, tea work skills to perform effective corporate social responsibility and increase the brand value of their company effectively. I have learned that knowledge of technology also increased my efforts and make me more efficient in performing my tasks.

Action Plan

Next time when I am working on personal presentation I will be more focused in performing my report and making small notes which will helps to remember them to add in the report. I will become more effective by increasing all my required skills to become more efficient and increase the quality of output (Rockman, 2019). I will be more confident and also self assess myself with effective process to develop my own leaning process.

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