B4 PRESENTATION WINNING STRATEGY PART 2 Contents • • • • • • • • • Outline Of CSR Concept Of CSR CSR Best Practices Waveriders CSR Policy CSR & Organizational Vision Waveriders CSR Objectives & Intiatives Contribution Of CSR to Organizational Objectives Conclusion References Outline of CSR CSR involves the introduction of codes of ethical conduct and actively accommodating the interests of various groups in society by engaging in purely social endeavours -Lewin 1983, White and Montgomery, cited by Ibrahim & Angelidis Concept of CSR Also referred to as corporate philanthropy and corporate citizenship Works on the premise that businesses should be accountable for more than just its legal responsibilities to stakeholders. CSR BEST PRACTICES • Environmental Awareness: Global Warming, Green House Effect, Pollution, sustainable development, etc. • Social: Forced Labour, Human Rights, Community Development, etc. • Economic: Economic Sustainability, SME Development, etc. • Education: Scholarships, Library Expansion, Schools Development, etc. • Health Initiatives: HIV Awareness Programs, Vaccinations. • Safety Initiatives: Road Safety Initiatives, Workplace Safety. WaveRiders CSR Policy: WaveRiders is committed to actively working towards sustaining our environment as well as helping to improve the local community Our CSR Policy is: Active and focused largely on environmental sustainability, and the local community to a lesser extent, this ties in with the image of WaveRiders as a responsible and trustworthy company operating in the manufacturing industry CSR & ORGANIZATIONAL VISION WAVERIDERS COMPANY VISION To be the second largest inflatable boat Production Company in Europe in 5 years and start to expand in the U.S. market CONTRIBUTION OF CSR TO COMPANY VISION The benefit of our CSR policy and strategy to our stakeholders is that it will help to promote a positive brand image as well as convey the company’s dedication to it’s local community. This should assist the company towards it’s goal of expansion in the European Market. WAVERIDERS CSR OBJECTIVES • Work towards reducing environmental Waste • Promote environmental consciousness in the local community WaveRiders CSR Initiatives Present Initiatives • We use recycled plastic in manufacturing our boats. • Donate Camping Gear and Equipment to Outdoor/Backpacking Camp for children from Underprivileged homes • Production activities are carried out in our “GREEN”- i.e eco friendly- factories • Our factory is located close our suppliers to reduce environmental pollution caused by transporting raw materials • Our business processes are designed to function in accordance with the Environmental protection Act of 1990. WaveRiders CSR Initiatives Future Initiatives • Sponsorship of environmental issues in European distributed newspapers and magazines • Participate twice a year in a charity run to raise money for foundation that work to preserve the ocean life. • Have partnership with “Friends of the earth” • Offices are environment conscious - Correspondences and other admin documents are encouraged to be sent in electronic formats, the aim is to go ‘paperless’ -Staff are encouraged to be save energy by switching of appliances that are not currently in use, turning off all lights, etc. CONTRIBUTION OF CSR TO ORGANIZATIONAL OBJECTIVES • Environmental conscious activities within WaveRiders offices will help towards the goal of reducing our overhead costs • The positive impact of the CSR initiatives on the WaveRiders brand should help towards the vision of penetrating the European Market • The promotion of environmental issues in publications can function as a part of the European Promotional Marketing Strategy CONCLUSION These new CSR policies /initiatives can help the organization towards achieving it’s company vision as well as put it on the map as a responsible organization which operates ethically References • Carroll, B.A (1999) Corporate Social Responsibility. Business and Society. 38(3) pp. 268 • Schnietz, K. E, & Epstein, M.J.(2005):Exploring the Financial Value of a Reputation for Corporate Social Responsibility during a Crisis. Corporate Reputation Review. 7(4). Pp. 327-345 • Chilton, Z. (2012) Corporate Social Responsibility. An introduction to utilizing and maximizing benefit of Corporate Social Responsibility.