Introduction
The concept of corporate social responsibility (CSR) assumes that the company voluntarily assumes additional obligations to society. That is, it not only pays taxes and produces high-quality and safe products but also invests in its employees, the environment, and the territory of its presence. However, this aspect must be competently integrated into the organization’s activities so that they do not threaten financial or reputational parties.
CSR activities
The article presents a point of view that says that for the correct implementation of CSR activities, it is necessary to adhere to three main steps. It should be noted that Merck KGaA complies with these principles, which is reflected in the organization of its activities. First of all, the structure of the company corresponds to the fact that decisions are made regarding the current readiness of the organization to contribute to the community (Rangan et al., 2015). However, it should be understood that some aspects are not taken into account. They relate to the point of transformation of the business model. Based on the ideas highlighted in the article, Merck KGaA should shape its operational activities in such a way as to contribute to improving the state of the community by providing more jobs to specific categories of the population (Rangan et al., 2015). All of this has a direct impact on how customers, employees, and the life science community perceive Merck’s image. By taking these steps, Merck KGaA will be able to improve the state of operations, directing it to a significant contribution in accordance with the principles of social responsibility.
Conclusion
The effectiveness of CSR efforts depends on coordinated support at the highest levels of executive management. All efforts need not address the same social or environmental concern in order to be coordinated across venues. It means that when considered collectively, they make up a coherent portfolio, one whose projects are interconnected and in line with the goals and values of the company. Businesses must develop metrics for both the social or environmental value produced by a new business model and the financial outcome since providing societal value is crucial to company success.
Reference
Rangan, K., Chase, L., & Karim, S. (2015). The truth about CSR. Harvard Business Review, 1–11.