Overall, such a notion as corporate social responsibility (CSR) can be understood as the liability of an organization to its major stakeholders, in particular, clients, employees, and investors.
Furthermore, this concept can be used to describe the efforts of a company to increase the social, environmental, and economic benefits of their activities. These are the main interpretations that can be offered. CSR incorporates such elements as accountability of the management, safety of clients and employees, environmental protection, compensation, and quality control.
It is possible to single out five things that I would implement in order to implement the principles of CSR. First of all, I would focus on quality control of products and services. This initiative can improve the experiences of customers; moreover, it can help the company increase its profitability. So, this investment will be justified.
Secondly, I will implement a performance-appraise system that can take into account the contribution of every worker. Moreover, it may be necessary to raise the compensation of some employees. Although, this approach may increase the running expenses of the company, but it will help this organization retain the most talented staff. Thirdly, one should focus on the adoption of eco-friendly technologies. The main advantage of this policy is that it can give the company a technological edge.
Additionally, this strategy can reduce the impact of the company’s activities on the environment. Apart from that, it is critical to focus on the risk management in the organization. This emphasis is important for eliminating the threats to the life and health of workers. Finally, the management should select those suppliers that can deliver only high-quality raw materials or component parts.
These elements of corporate social responsibility are compatible with the financial interests of a business. Researchers emphasize that “operations managers are at forefront of trying to balance any costs of CSR with any benefits” (Slack, Chambers, & Johnston, 2010, p. 643). So, one should not suppose that the development of the company is not compatible with the principles of CSR.
There are several important quotes that can throw light on the importance of operations management. It is possible to refer to the following quote, “Continuous improvement, as the name implies, adopts an approach to improving performance which assumes many small incremental improvement steps” (Slack et al., 2010, p. 382).
This statement is important because it suggests that companies may not achieve significant changes within a relative short time. More likely, the management should focus on a set of small initiatives which eliminate various inefficiencies. However, this strategy can help a company to improve its organizational performance in the long term. These are main benefits of adopting this strategy.
Additionally, one can also examine the following quote, “It is not necessarily the failure itself that leads to dissatisfaction but often the organization’s response to the breakdown” (Slack et al., 2010, p. 594). This statement is also important for the managers. They should keep in mind that businesses cannot be insured against possible mistakes.
The main pitfall is to remain indifferent to these problems. Some companies choose to turn a blind eye to the problems that they encounter. As a result, many businesses are not able to retain the clients. These are the main details that should be considered by the management in order to improve the performance of a business and ensure its long-term sustainability.
Reference List
Slack, N., Chambers, S., & Johnston, R. (2010). Operations Management. Harlow, England: Financial Times.