Introduction
Profit-making entities are expected to implement the practices which contribute to social growth and development. Strategic organizations adopt tactical initiatives for adhering to the commercial regulations on Corporate Social Responsibility (CSR) (McWilliams et al., 2019). The firms which fail to comply with specific business laws face legal threats in fines, penalties, or termination. Most importantly, organizations should participate in community progress for enhancing sustainability objectives. This analysis, nevertheless, illustrates the essence of integrating ethics in CSR initiatives. TOMS Shoes, as presented in the case scenario, has implemented strategic initiatives for achieving both profit and non-profit objectives. The company has donated over 35,000 pairs of free shoes to children in Argentina and India (Naeini et al., 2015). Products sold by the firm integrate ethical, social, and business attributes by donating to the members with diverse social needs. The success of TOMS Shoes is based on a tactical CSR strategy that achieves both not-for-profit objectives and returns on investments (ROI).
Modern Firms with CSR Approach
Notably, there are several contemporary organizations that have adopted CSR initiatives aimed at certain individuals. TOMS Shoes, as highlighted in the case, has transformed categories on individuals in vulnerable societies who benefit from donating every pair of shoes sold in the market (Naeini et al., 2015). The company has also integrated tactical social media marketing to popularize its CSR initiatives and the impacts on benefiting persons. Similarly, other modern organizations have also implemented programs targeted at improving the social, economic, and political lives of vulnerable individuals. For instance, Google, Inc. implements a useful CSR program of prioritizing female applications during the recruitment of new employees (McWilliams et al., 2019). This approach is critical in encouraging and motivating educated female individuals into the technology industry, which is male-dominated. Both TOMS Shoes and Google, Inc., consequently, depict the differences in target audiences but are similar in the long-term intention of a CSR program.
Alternative Programs suitable for TOMS Shoes’ CSR Strategy
Moreover, there are imminent actions that firms categorize under CSR initiatives. Organizational activities intended for enhancing sustainability fall under the social responsibilities of profit-making entities (Gupta et al., 2017). For instance, some companies schedule annual clean-up initiatives aimed at collecting plastic waste around the nearby communities. The programs which reduce pollution of non-biodegradable products in the surrounding enhance the objectives of the CSR programs (McWilliams et al., 2019). It is important to note that modern profit-making institutions have a collective role in ensuring the average global climate is below 1.5 degrees Celsius in temperature (Gupta et al., 2017). This approach is useful for achieving both profit and non-profit objectives among businesses.
Additionally, modern firms also facilitate free important healthcare services to patients with financial difficulties through CSR programs. For instance, some multinational companies pay for critical medical surgeries abroad to the victims of natural disasters in developing nations. Other organizations participate in charitable activities such as offering air tickets and accommodation needs to underprivileged patients traveling overseas for medical treatment (Akterujjaman et al., 2019). Advanced healthcare needs depict significant CSR contribution to individuals with low incomes. Essentially, profit-making entities which that participate in the financial intervention of vital medical procedures benefit from a positive organizational image.
Sponsoring bright but needy students with full academic scholarships also depict an act of effective CSR initiatives. Many students achieve good grades as evidenced by good academic performance. However, enrollment in higher learning institutions is a challenge for some of them who come from poor economic backgrounds. Offering aid to individuals with financial needs is critical in promoting academic goals among high-performing students. It is objective that profit-making entities make positive impacts on the communities facing diverse social challenges (Gupta et al., 2017). As a result, ethical practices are useful for ensuring the practical implementation of social programs.
Contemporary Firms with Strategic CSR Components
Furthermore, successful companies integrate vital CSR components into the organizational values which guarantees profitability. In other words, the inclusion of morals and ethics as a part of a company’s virtues is critical for ensuring sustainability. For instance, Amazon is a multinational retail firm which is committed to decreasing environmental pollution through plastic packaging. The company intends to integrate CSR values by using biodegradable materials for packing products before their distribution to global markets. This approach will reduce land and marine pollution leading to the exploitation of extinct species in the ecosystem. Similarly, Apple, Inc. also integrates the ethics in sustainability practices aimed at mitigating global warming. The CSR component of environmental conservation is integrated into the firm’s organizational culture depicted in global research projects Akterujjaman et al., 2019). Ideally, contemporary firms have ensured the integration of ethical practices in the CSR objectives.
In conclusion, modern CSR practices are essential for achieving both profit and non-profit goals among companies. The case scenario of TOMS Shoes depicts a strategic integration of social values in a firm’s organizational culture. The shoe-making company has benefited financially from high sales volumes and profitability margins. Moreover, the company has ensured social transformation of needy children by donating a pair of shoes for each sold in the market. Moreover, liberal consumers are informed about the production processes which contribute to pollution. Consequently, most of them avoid the products with negative management practices in the production process. Modern companies such as Amazon and Apple, Inc. have integrated the CSR values of sustainability as a part of inherent organizational values. This approach is instrumental in displaying a positive business image which translates into high sales and profits. Most importantly, social values ensure a progressive contribution to the vital needs of the members of vulnerable populations such as children.
References
Akterujjaman, S. M., Saha, S. K., & Hossain, M. A. (2019). Business case of corporate social responsibility: A case study on Columbia Garments Limited in Bangladesh. Business Strategy & Development, 2(3), 265-271.
Gupta, A., Briscoe, F., & Hambrick, D. C. (2017). Red, blue, and purple firms: Organizational political ideology and corporate social responsibility. Strategic Management Journal, 38(5), 1018-1040.
McWilliams, A., Rupp, D. E., Siegel, D. S., Stahl, G. K., & Waldman, D. A. (Eds.). (2019). The Oxford handbook of corporate social responsibility: Psychological and organizational perspectives. Oxford University Press.
Naeini, A., Dutt, A., Angus, J., Mardirossian, S., & Bonfanti, S. (2015). A shoe for a shoe, and a smile. Business Today.