A well formulated CSR implementation framework integrates social, economical as well as environmental decision making process in the entire organization that ranges from the board of directors to the most junior employees. A well implemented CSR brings optimal benefits to an organization, shareholders as well as to all affected stakeholders.
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The decision for ABC Company to embark on implementing a Corporate Social Responsibility (CSR) towards the community in which it operates is a great strategy to facilitate its performance. ABC Company should consider pursuing social initiatives which entail addressing the social needs of the communities in which it operatives.
Some examples of social initiatives that ABC Company can contemplate adopting include providing health related programs as well as sports activities to the community it serves. The discussion entails identifying social initiatives that ABC Company will implement as well as the implementation approach it will use (Glann, 2009).
ABC Social Initiatives, Evaluation and Goals
The company can consider implementing health programs to address health dangers that ABC Company may pose to surrounding community. In addition, the company can consider facilitating activities such as walk, sports or athletics in order to encourage people to assume healthy lifestyles.
In the process of implementing health programs and sports activities, ABC Company should consider to assess how the social initiatives affect the society in terms of determining challenges and opportunities that accompany the initiatives.
The evaluation is essential in assisting major stakeholders to change the insight into strategies, commitments and firm transformations which can be basis for examining, reviewing and reporting CSR achievements in order to incorporate suitable amendments. The main goals for the ABC social initiatives is to enhance the performance of the company, enhance shareholders wealth as well as meet social needs of affected community (Sandon, 2006).
ABC Actions, Responsibility and Timing
ABC Company will use the ‘plan, do, check and improve model’ in guiding the social initiatives implementation. The planning phase that entail conducting a CSR assessment that involve assembling a CRS leadership team, reviewing ABC documents, processes as well as activities and finally identifying and engaging key stakeholders.
Then, ABC management should develop a CSR strategy through building support with senior management and employees, finding the social initiatives that other companies are engaging as well as deciding on the direction forward. After the plan phase the implementation process proceeds to ‘do’ phase that involves development of CSR commitments.
ABC should establish a group to develop CSR commitments, hold meetings with key stakeholders, consult affected parties as well as draft a preliminary draft. Then ABC should implement CSR commitments by preparing and implementing a CSR business plan, setting measurable targets as well as identifying tools to measure performance of the initiatives, engaging employees as well as developing both internal and external communications plans.
The ‘do’ phase will be succeeded by the ‘check’ phase that will entail verifying and reporting the progress. In this stage, ABC Company will measure and verify the performance against its target and report the performance. The last phase is ‘improve’ stage that will involve ABC Company evaluating the benefits associated with the implementation of CRS initiatives and recommend appropriate improvements through identifying opportunities for improvements as well as engaging key stakeholders (Peterson, 2011).
Internal and External Stakeholders and how they will be Affected by Initiatives
ABC Company implementation of the social initiatives will entail engagement of both internal and external stakeholders. The ABC Company’s internal stakeholders comprise of: shareholders, employees, customers, communities, suppliers as well as business partners. ABC Company external stakeholders include: regulatory bodies, media, competitors as well as trade and industrial groups.
The implementation of CSR initiatives will enhance the wealth of ABC Company shareholders through increased sales that will increase the profits realized. In addition, implementation of the social initiatives will help surrounding community benefit from the healthcare programs as well as assume healthy lifestyles as a result of the social CSR initiatives adopted by ABC Company (Hartman& Desjardins, 2011).
Measurement of Success of Social Initiatives
The effects of social CSR initiatives adopted by ABC Company can be measured through surveys. ABC Company should use its marketing department to find how the implementation of social initiatives has impacted all the stakeholders affected. The marketing department can opt to conduct a market survey through the use of interviews or focus groups to investigate the same. A questionnaire with both closed-ended and open-ended questions is the best instrument to use to collect appropriate data for analysis.
The questionnaire will be distributed to a sample of selected people who live nearby the company and the results analyzed using appropriate software such as SPSS or Excel to establish the resultant association. If the results from the study indicate improved performance as a result of adopting the social initiatives, ABC Company will continue embracing similar CSR initiatives. In case the study indicates poor performance as a result of implementing the CSR initiatives, ABC Company will improve its CSR initiates (Thomson, 1999).
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Companies should adopt corporate social responsibility in order to promote recognition as well as adoption of their brands to enhance their performances. There are various models that are used by companies to address social responsibilities for communities concerned. ABC should implement social initiates for its CSR in order to enhance its brand. The company should undertake appropriate actions, engage key stakeholders as well as use appropriate assessment methods to measure the success of the social CSR initiatives implemented.
Glann, N. (2009). Social Responsibility: Company Management and Shareholders. Web.
Hartman, L. & Desjardins, J. (2011). Business Ethics. Web.
Thomson, T. (1999). Corporate Social Responsibility. Journal of International Business. 12 7, pp.123-140.
Sandon, A. (2006). International Company and Ethics. Web.
Peterson, A. (2011).Implementing Corporate Social Responsibility. New York: Prentice Hall.