Unit 46 Corporate Social Responsibility Assignment Sample

Corporate Social Responsibility: A Guide to Ethical Business Practices

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Introduction Of The Corporate Social Responsibility

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The report is made to understand the business social responsibility of hospitals. The report includes two assignments, in the survey of companies that took part in the survey that covers nearly every aspect of business 90% of respondents believe the business should pay more concentration to larger environmental and social issues including the integration of minorities as well as gender equality, environmental protection and the effect of company's decisions on local environment. In accordance with the CSR idea which is covered under the assignment 1 giving recommendation that a business should pay close attention to all the crucial environmental and social issues listed in the previous paragraphs.

For the attaining the objective of the report the St. Thomas hospital is considered which is a well-known private clinic following the CSR policy. Due to a few problems, the case clinic group has recently been the subject of extensive negative press in the neighborhood paper. Allegations include improper garbage disposal, unfavorable working conditions for cleaning employees, and negative effects on neighborhood residents from parking chaos through clinic guests (Sheehy, 2015). The company is now thinking about other social responsibility (CSR) concerns like recycling and carbon neutrality as a result of these issues being brought up. Senior management now sees the necessity of a CSR policy, but the Board still has to be persuaded of this. The report is made to present a strong argument for top managers to evaluate before this is presented to the board to introduce a CSR policy.

Assignment two is made to discuss the review of the CSR policy of St Thomas hospital. It includes the needs of various stakeholders of the company and how can it fulfill corporate social responsibility towards each shareholder. St Thomas's CSR condition is the same as the case. The report also includes the effects of these CSR measures on company performance for top management.

Assignment 1

Task 1

1.1 Definition of CSR

Corporate social responsibility is a form of company self-regulation with a target to make a positive impact on various groups in society; the company acknowledges its social accountability and works for the same (Sarkar and Searcy, 2016). Corporate social responsibility (CSR) refers to guidelines that company applies as a part of their governance to verify that their retail models are ethical and beneficial to the society.

1.2 Background and changing attitudes to CSR

These days, businesses are becoming additionally conscious of the challenges that affect community and the activities they conduct. A slight view of the world is limited to the advantages and profit of the company itself that is no longer true. Building capacity and educating companies is the main driver to assist them in accelerating the process of considering and paying consideration of social factors in making business decisions. In the present, companies should not only achieve a competitive advantage, or reap profits, but also build confidence in consumers by the accomplishment of social responsibility (Rosati, et.al 2018). Consumers do not just pay more consideration to the quality and cost of products, but they also have been more attentive to the impacts of manufacture on the planet. Thus, further enhancing the social responsibility of companies is observed as a crucial requirement for sustainability in the economic system. Corporate Social Responsibility (CSR) refers to the ethical and responsible behavior of companies towards society, the environment, and their stakeholders. The hospital sector is an essential part of the healthcare industry, and its CSR practices have evolved over time.

Historically, hospitals have focused primarily on their core mission of providing healthcare services to their patients. However, in recent years, there has been a shift towards a more comprehensive approach to CSR, where hospitals are expected to consider their impact on society, the environment, and other stakeholders. One major driver of this shift has been the increasing public scrutiny and demand for transparency from hospitals. Patients and other stakeholders are becoming more aware of the environmental and social impacts of healthcare, and are demanding that hospitals take responsibility for these impacts. In addition, the hospital sector has become more competitive, and hospitals are recognizing the potential benefits of CSR practices in terms of improving their reputation, attracting and retaining talent, and reducing costs. As a result, many hospitals are now implementing CSR initiatives that go beyond their core mission of providing healthcare services. For example, hospitals are investing in renewable energy, reducing waste, and promoting healthy lifestyles in their communities. They are also engaging with stakeholders to ensure that their CSR practices align with the needs and expectations of their communities.

1.3 Regulatory framework

The regulatory framework defines the activities that should be taken by companies to perform their corporate social responsibility (O'Sullivan et.al. 2019). As per ISO 26000, corporate social responsibility is voluntary actions done by companies. The regulatory framework includes the following elements:

  • Follow all the rules and regulations
  • Work according to business ethics
  • Make sure the accountability toward the society
  • Transparency in business actions
  • Use precautions measures
  • Take care of the interest of stakeholders
  • Follow all national and international norms

The legal documents you have listed are relevant in the context of the UK and international frameworks, and they are as follows:

  • Equality Act 2010: This Act aims to prevent discrimination, promote equality of opportunity, and protect the human rights of individuals in the workplace and wider society. It requires organizations to consider and promote diversity and inclusion in their policies and practices.
  • ISO 26000: Social responsibility: This is a global standard that provides guidance on integrating social responsibility into an organization's core values, strategy, and operations. It covers a broad range of issues, including human rights, labor practices, environmental sustainability, and community engagement.
  • Companies Act 2006: This Act sets out the legal framework for the incorporation, management, and governance of companies in the UK. It includes provisions related to directors' duties, shareholder rights, and reporting requirements, including those related to CSR.
  • Solicitors Regulation Authority (SRA) requirements: These are the regulatory requirements that solicitors in the UK must adhere to, including professional standards related to ethics, diversity, and inclusion.
  • Investors in People (IIP): This is a standard that recognizes organizations that invest in their people's development and support their well-being. It provides a framework for organizations to improve their practices related to employee engagement, training, and development.
  • UN Global Compact: This is a voluntary initiative that encourages companies to adopt sustainable and socially responsible policies and practices. It provides a framework for companies to align their operations with ten universal principles on human rights, labor, environment, and anti-corruption.
  • Lexcel: This is a quality mark for law firms in the UK that demonstrates their commitment to excellence in client care, practice management, and compliance with legal and regulatory requirements. It includes requirements related to diversity and inclusion, risk management, and business development.

1.4 Explanation of environmental issues in CSR

Environmental issues are an important aspect of Corporate Social Responsibility (CSR) in the hospital sector. Hospitals have a significant impact on the environment, both in terms of their direct operations and their supply chains. Some of the key environmental issues that hospitals should address in their CSR efforts include:

  • Energy consumption: Hospitals are energy-intensive facilities, and the energy they consume contributes to greenhouse gas emissions and other environmental impacts. Hospitals can address this issue by improving energy efficiency, using renewable energy sources, and implementing energy management systems.
  • Waste management: Hospitals generate a large amount of waste, including hazardous waste such as biomedical waste, which requires special handling and disposal. Hospitals can implement waste reduction strategies, such as recycling and composting, to reduce their environmental impact.
  • Water usage: Hospitals use a significant amount of water, which can contribute to water scarcity and other environmental issues. Hospitals can implement water conservation measures, such as low-flow fixtures and rainwater harvesting, to reduce their water usage.
  • Chemical use: Hospitals use a variety of chemicals in their operations, including cleaning products, disinfectants, and medical supplies. Hospitals can reduce their environmental impact by using less toxic chemicals, implementing safe disposal practices, and adopting environmentally friendly purchasing policies.
  • Sustainable supply chain: Hospitals can work with their suppliers to ensure that their products and services are environmentally sustainable. This can include purchasing products made from sustainable materials, reducing packaging waste, and selecting suppliers that have strong environmental policies and practices.
  • Waste reduction: the company should focus on the reduction of the waste and it should use proper waste management system to save the environment. Clinic waste is most harmful for the nature and environment, the company needs to take major steps to reduce the waste and the disposal of the waste.
  • Policies related to recycling: The clinic focus on its waste management, recycling waste which can benefit the case company by providing another source of energy (Kolk, 2016). Waste management should be done effectively and efficiently by the case clinic to overcome issues related to CSR.
  • Sustainability: The clinic should consider sustainability before making policies for the long run. Sustainable business practices will improve the image of the clinic in front of its all stakeholders. The company can adopt sustainability in many practices such as transportation, material used, etc.
  • Packaging: The clinic must use biodegradable material for packaging because it will be good for the environment. It should try to develop some packaging which can be recycled in the future.
  • Carbon emission: The Company should try to reduce its carbon emission and it should be under the prescribed limit set by the government (Malik, 2015). The use of more green activities in the business is required, and the organization should introduce a culture where greener and safer practices are on priority.

1.5 Explanation of economic and political issues in CSR

Economic and political problems have a great impact on corporate social responsibility. The following are the main issues:

Accessible supplier:

This is the foremost economic issue; the location supplier should be accessible to businesses. The consumers of the goods can get the products on time at a reasonable price.

Fairtrade:

A company should follow fair trade practices to fulfill its corporate social responsibility, ethics are the essence of fair trade. The clinic should follow its code of ethics to deal with all the CSR problems related to every stakeholder (Scherer, 2018). This will further decrease the completion in the market and helps in building good partnerships.

Support to the local business:

An economic and political environment where small firms get support from large organizations will accomplish objectives related to CSR. If large and small companies corporate with each other than the price level can be reduced.

No acceptance of global agreement –

The Kyoto Protocol is used by the United Nations Framework Convention on Climate Change by committing industrialized nations and markets in switch to maximum value and reduces greenhouse gases (GHG) emissions in agreement with individual objective. The gathering itself only ask those nations to approve strategy and procedures on alleviation and to account occasionally. It is not followed by the government and companies; this is one of the main economic as well as political problems in CSR.

  • Economic issues: Economic issues such as globalization, economic growth, and income inequality can affect CSR practices. Globalization has increased the complexity of supply chains, making it more challenging for companies to ensure their operations are socially responsible. Economic growth can increase demand for natural resources, leading to environmental degradation. Income inequality can create social unrest and increase pressure on companies to address social issues.
  • Political issues: Political issues such as government regulations, corruption, and stakeholder activism can also impact CSR practices. Government regulations can create incentives or requirements for companies to adopt CSR practices, such as environmental regulations or labor laws. Corruption can undermine the effectiveness of CSR initiatives, making it difficult for companies to implement socially responsible practices. Stakeholder activism, such as protests or shareholder resolutions, can create pressure on companies to address social and environmental issues.

1.6 explanation of social and community issues in CSR

Social and community issues are important aspects of Corporate Social Responsibility (CSR) that involve a company's responsibility to positively impact the society and communities in which it operates. These issues may include, but are not limited to:

  • Community engagement: Companies can engage with local communities to understand their needs and priorities and work together to address them. This can involve collaborating with community-based organizations, supporting local initiatives and events, and investing in community development projects.
  • Labor practices: Companies have a responsibility to treat their employees fairly and ensure safe and healthy working conditions. This includes paying fair wages, providing benefits and opportunities for professional growth, and creating a workplace culture that values diversity, equity, and inclusion.
  • Human rights: Companies should respect and uphold human rights in all aspects of their operations, including in their supply chains. This involves avoiding any practices that violate human rights, such as forced labor, child labor, and discrimination.
  • Diversity and inclusion: Companies should strive to create a diverse and inclusive workplace that values differences and promotes equity. This includes recruiting and retaining a diverse workforce, offering equal opportunities for advancement, and creating an inclusive culture that values all employees.
  • Philanthropy and charitable giving: Companies can contribute to social and community issues through philanthropic activities and charitable giving. This can involve donating to nonprofits and community organizations, volunteering time and resources, and supporting social and environmental causes.

Society is the main stakeholder of the case clinic; there are various issues faced by the case company related to society.

  • Boost education and training: The case clinic can provide technical training and vocational education to people who want to learn. The company should initiate a program where people can enhance their skills; it will improve the social presence of the case clinic (Ksi??aK, 2016).
  • Sponsorship: This is one of the important ways by which case clinic fulfill their corporate social responsibility. The company can sponsor various social events for the benefit of society, it will enhance the acceptance of services provided by the clinic.
  • Volunteering: The Company can give volunteering services in social crises; it will be the best way to handle social and community problems in CSR. Volunteering can unquestionably support an association and can improve its business culture in many behavior. It communicates an organization's values, boosts employee retention and recruitment motivates teamwork between staff members, strengthens closer ties with clients, and promotes corporate brand image.
  • Employing socially disadvantaged and disabled people: Due to low expectations and conventional assumptions about their ability, disabled individuals have long remained excluded from or marginalized in the employment. The company needs to employ more disabled people to serve the society and use their capabilities.

Task 2

2.1 Assess the benefits of CSR to our employees

Employees are the backbone of any company, the human resources can lead to the growth and success of the clinic. If the case clinic performs its CSR properly following benefits can be an outcome:

Corporate Social Responsibility (CSR) can provide several benefits to employees of St. Thomas Hospital. Here are some of the potential benefits:

  • Increased job satisfaction: When employees feel that the organization they work for is committed to social responsibility, it can increase their job satisfaction. By aligning their personal values with the values of the organization, employees are more likely to feel fulfilled and engaged in their work.
  • Improved employee retention: When employees are satisfied with their jobs, they are more likely to stay with the organization long-term. This can reduce employee turnover and recruitment costs for St. Thomas Hospital.
  • Enhanced employee engagement: CSR initiatives can help to foster a sense of community and purpose among employees. By participating in CSR activities, employees may feel more connected to their colleagues and to the broader mission of the organization.
  • Improved employee health and well-being: CSR initiatives that focus on employee health and wellness can have a positive impact on the physical and mental health of employees. For example, providing wellness programs or mental health resources can improve employee health outcomes and reduce absenteeism.
  • Professional development opportunities: CSR initiatives can provide employees with opportunities to develop new skills and gain experience in different areas. For example, participating in community service projects can help employees develop leadership, teamwork, and communication skills.
  • Enhanced brand reputation: When an organization is committed to CSR, it can enhance its brand reputation among stakeholders, including employees. Employees may feel proud to work for an organization that is making a positive impact on society and the environment, which can enhance their sense of loyalty and commitment to the organization (Lu et.al. 2021).

Figure 1 benefits of CSR to employees

2.2. Give an analysis of the impact of CSR on supply chain

CSR is very important to maintain an efficient and effective supply chain. Company require to be mindful of their community obligation in the regions of human rights (including workplace conditions, child labor, and slavery), workplace wellbeing and protection, sustainable construction and ecological practice as they be relevant to the supply chain (Stekelorum, 2020). The case clinic must switch any possible ethical, legal as well as financial risks and issues that can effect from selecting a supplier who for instance has poor worker safety circumstances. The case should also need to take care of the source of raw material and try to reduce transport costs.

St. Thomas Hospital has a complex supply chain that includes a range of suppliers, distributors, and other stakeholders. Corporate Social Responsibility (CSR) can have a significant impact on the hospital's supply chain by influencing the behavior of its suppliers and other stakeholders. Some of the ways that CSR can impact the supply chain of St. Thomas Hospital:

  • Ethical sourcing: CSR efforts can encourage St. Thomas Hospital to source products and services from suppliers that adhere to ethical standards. This can involve ensuring that suppliers do not engage in practices such as forced labor or environmental degradation, and that they provide fair wages and working conditions to their employees.
  • Sustainability: CSR efforts can also encourage St. Thomas Hospital to work with suppliers that prioritize sustainability. This can involve reducing the environmental impact of the hospital's supply chain by selecting suppliers that use sustainable materials, implement sustainable practices, and reduce waste and emissions.
  • Supplier engagement: CSR efforts can help St. Thomas Hospital engage with its suppliers more effectively. By working collaboratively with suppliers, the hospital can build stronger relationships and encourage them to adopt CSR practices that align with the hospital's values.
  • Risk management: CSR efforts can also help St. Thomas Hospital mitigate supply chain risks. By assessing the CSR practices of its suppliers and monitoring their performance, the hospital can identify potential risks and take steps to address them, such as diversifying its supply chain or working with suppliers to improve their CSR practices.
  • Reputation: Finally, CSR efforts can have a positive impact on the hospital's reputation. By demonstrating a commitment to CSR, the hospital can build trust with stakeholders, including patients, employees, and suppliers, and differentiate itself from competitors.

2.3. Explain how CSR will impact business performance

Clinic employment performance mainly comes from the performance of staff, it can be improved by fulfilling corporate responsibility towards human resources. Business performance can also be improved by gaining government support, compliance with the legislature, and lower cost, CSR helps in attaining all these things.

CSR will also have a positive impact on the case clinic and it will improve the sales of the clinic. CSR will improve the image among its stakeholder and build a trusting relationship connecting the company and its stakeholders. CSR will also help in resolving the conflict between the clinic and its consumers.

2.4. Explain how CSR will impact marketing strategy

Corporate Social Responsibility (CSR) can have a significant impact on the marketing strategy of St. Thomas Hospital. Here are some ways that CSR can influence marketing:

  • Differentiation: CSR initiatives can help St. Thomas Hospital differentiate itself from competitors. By demonstrating a commitment to social and environmental responsibility, St. Thomas can position itself as a socially responsible and ethical organization. This can appeal to consumers who are increasingly seeking out socially responsible products and services.
  • Reputation: CSR can help to build a positive brand reputation for St. Thomas Hospital. When consumers perceive St. Thomas as a socially responsible organization, they may be more likely to trust and choose the hospital over competitors. This can improve brand loyalty and enhance the hospital's overall reputation.
  • Target audience: CSR initiatives can help St. Thomas Hospital reach new target audiences. For example, if St. Thomas implements environmental sustainability initiatives, it may attract consumers who prioritize eco-friendliness in their purchasing decisions.
  • Marketing messaging: CSR initiatives can inform marketing messaging for St. Thomas Hospital. By highlighting CSR initiatives in marketing campaigns, St. Thomas can appeal to consumers who are seeking socially responsible products and services. This can help to differentiate the hospital from competitors and create a positive brand image.
  • Increased customer loyalty: CSR initiatives can increase customer loyalty for St. Thomas Hospital. When customers feel that an organization is committed to social and environmental responsibility, they may feel more connected to the brand and more loyal to the organization. This can result in increased customer retention and a positive impact on the hospital's bottom line (Hadjikhani et.al. 2016).

2.5. Assess the conflicts which might arise when company try to satisfy the needs and expectations of different stakeholders through CSR

The main conflict can arise between different stakeholders of the company. The company needs to take corrective measures at the right otherwise this disagreement will convert into conflict. The conflict between higher-level management and labor union arise because of the issue of employee benefit (Torelli et.al. 2020). Corporate Social Responsibility (CSR) can create conflicts when companies try to satisfy the needs and expectations of different stakeholders. Here are some potential conflicts that may arise:

  • Conflicting stakeholder interests: Different stakeholders may have conflicting interests and priorities. For example, shareholders may prioritize profits and dividends, while employees may prioritize fair wages and benefits. When a company tries to satisfy the needs and expectations of different stakeholders through CSR initiatives, it may be difficult to balance these conflicting interests.
  • Limited resources: Companies may have limited resources to invest in CSR initiatives. When a company tries to satisfy the needs and expectations of different stakeholders through CSR, it may be challenging to allocate resources in a way that satisfies everyone. This can create conflicts among stakeholders who feel that their needs are not being adequately addressed.
  • Ethical dilemmas: CSR initiatives can raise ethical dilemmas for companies. For example, if a company is committed to environmental sustainability, it may need to make difficult decisions about how to balance its environmental goals with its financial objectives. These decisions can create conflicts among stakeholders who may have different opinions about what is most important.
  • Transparency and accountability: CSR initiatives require transparency and accountability from companies. When companies make commitments to stakeholders through CSR initiatives, they need to be transparent about their progress and accountable for their actions. This can create conflicts when companies fail to meet stakeholder expectations or are not transparent about their CSR efforts.
  • Reputational risk: CSR initiatives can create reputational risks for companies. When companies make commitments to stakeholders through CSR initiatives, they need to follow through on those commitments. Failure to do so can damage the company's reputation and create conflicts among stakeholders who feel that the company has not acted in good faith.

2.6 Assess the potential conflicts which may arise between the needs and expectations of different stakeholders

To address these potential conflicts, St. Thomas Hospital can take steps to engage with stakeholders, understand their needs and expectations, and develop strategies to address their concerns. This can involve building strong relationships with stakeholders, communicating effectively, and collaborating to find mutually beneficial solutions. By proactively managing stakeholder needs and expectations, St. Thomas Hospital can minimize conflicts and build a stronger, more sustainable organization. St. Thomas Hospital has a range of stakeholders with different needs and expectations. Conflicts can arise between these stakeholders when their needs and expectations are not aligned. Here are some potential conflicts that may arise between the needs and expectations of different stakeholders in St. Thomas Hospital:

  • Patients vs. Healthcare Providers: Patients expect high-quality care and attention from healthcare providers, while healthcare providers may prioritize efficiency and cost-effectiveness in their operations. This can result in conflicts over issues such as wait times, treatment protocols, and communication.
  • Hospital Management vs. Employees: Hospital management may prioritize financial performance and efficiency, while employees may prioritize fair wages, safe working conditions, and opportunities for career growth. This can result in conflicts over issues such as compensation, benefits, and workloads.
  • Patients vs. Insurance Providers: Patients may expect comprehensive and affordable coverage from insurance providers, while insurance providers may prioritize profitability and cost containment. This can result in conflicts over issues such as coverage limits, pre-existing conditions, and premiums.
  • Hospital vs. Community: The hospital may prioritize the needs of its patients and shareholders, while the community may prioritize issues such as environmental sustainability, public health, and access to care. This can result in conflicts over issues such as land use, resource allocation, and community engagement.
  • Hospital vs. Government: The hospital may prioritize financial performance and autonomy, while the government may prioritize public health, safety, and regulation. This can result in conflicts over issues such as funding, compliance, and quality standards.

Assignment 2

Task 1

St. Thomas hospital CSR policy

  • Environmental Sustainability: Hospital are committed to reducing our impact on the environment by implementing sustainable practices such as reducing waste, conserving energy, and using eco-friendly products.
  • Community Engagement: St. Thomas hospital believe in being an active member of community by supporting local initiatives and organizations, providing resources and education to the community, and promoting community health and wellbeing (Suliman et.al. 2016).
  • Patient Care: St. Thomas hospital strives to provide the highest quality care to patients while treating them with respect, dignity, and compassion.
  • Employee Wellbeing: St. Thomas hospital believes in creating a positive work environment that promotes employee wellbeing, safety, and diversity and encourages professional development and growth.
  • Ethical Business Practices: St. Thomas hospital conducts our business with the highest level of ethics and integrity, complying with all legal and regulatory requirements, and maintaining transparency and accountability in our operations.
  • Philanthropy: St. Thomas hospital believe in giving back to the community through philanthropic activities such as charitable donations, volunteering, and supporting social causes that align with mission and values.

Extent of voluntarism in CSR policy

Voluntarism in CSR refers to the voluntary actions that companies take beyond their legal obligations to address social and environmental issues. These actions are typically not required by law, but rather are seen as a way for companies to demonstrate their commitment to corporate social responsibility and to build a positive reputation with stakeholders. The extent of voluntarism in the CSR policy of St. Thomas Hospital would depend on their specific policies and practices. Some hospitals may choose to focus on mandatory social and environmental responsibilities, while others may take a more proactive approach and engage in voluntary initiatives.

Examples of voluntary CSR initiatives that St. Thomas Hospital could undertake include:

  • Implementing energy-efficient systems to reduce carbon emissions and promote sustainability
  • Partnering with local organizations to support community health initiatives and outreach programs
  • Encouraging employee volunteerism and community service through company-sponsored programs
  • Investing in sustainable supply chain management practices to reduce waste and promote environmentally friendly products.
  • Supporting local charities and non-profit organizations through charitable donations or in-kind contributions.

Overall, the extent of voluntarism in St. Thomas Hospital's CSR policy would depend on their specific goals, values, and resources. However, incorporating voluntary initiatives into their CSR policy can help the hospital demonstrate its commitment to social responsibility and build a positive reputation with stakeholders.

Task 2

3.3 Recommend changes to meet the needs of the stakeholder groups

The negative feedback received from many stakeholders about the CSR policy of the hospital. Trust of the stakeholder can be gained by using the following recommdation:

  • Suppliers: the company needs to convince suppliers that they will be benefited from the company's CSR policy. The hospital should ensure that they will follow all the ethical practices and will make payments on time (Duong et.al. 2019). The company will also purchase materials from suppliers even if the prices are high because of the quality provided. The CSR policy of ST Thomas protects the interest and right of suppliers.
  • Customers: customers are the king of the business and it is the most important stakeholder of the company. The implementation of the CSR policy will result in the consumer's benefit. The company needs to gain the trust of its consumer through the right implementation of the CSR policy.
  • Employees: employees are the main factors that contribute to the success of the hospital. The company needs to include more activities related to employee welfare. The CSR policy will include good working culture, fair wages, and cooperation at the clinic (Goodman and Sanders Thompson, 2017). The CSR policy of the clinic must include training and development opportunity for the employees of the business. The company should give more chances to the employees so that they can learn various skills and gain more knowledge to build personality
  • Environment: The objective of ecological CSR is to diminish any harmful consequences that the company's procedure may have on the environment. Energy consumption may be the topic of activities. CSR initiatives don't just improve the social order; they also make important assistance to the guard of the atmosphere because every day human behavior raises levels of toxic waste, which in turn release dangerous toxicants. The company focuses explicitly on dropping greenhouse gas production that originate from climate modification by restrictive energy utilization, and generating clean force.
  • Community: The Company's main goal is to treat every customer equally and without prejudice. The business has a single policy that it applies to all customers without considering their social standing or place in society. The complete CSR strategy of St. Thomas Hospital includes providing immediate care in the event of a natural disaster. The hospital takes into account the needs of those who are disabled and offers them particular amenities. The CSR policy of the clinic will benefit the whole community.

Task 3

3.4 The potential impact of these changes in CSR on business performance

The CSR policy will have a long-term effect on the company and will impact its success of the company. These CSR changes will help the company to fulfill also social duties and assist to reach new levels of success. This will benefit every stakeholder of the company including consumers, suppliers, government, community, etc. when an organization focuses on the satisfaction of its employees, then employees will perform at the best possible level. It will reduce staff turnover rate and satisfaction among the employees (Lubis, 2018). When a company uses environment friendly practices will help in brand differentiation and consumer will recognize the ST Thomas hospital. The community will help the company to grow and want to be a part of it. Following are the list of major benefit from changes made in the CSR policy of the hospital:

Social approval from major stakeholders

  • status of management as well as improved patient loyalty
  • Further influence and maintenance of the human resources
  • assist to pull added investors and other stakeholders
  • Increase kindness and lifts up high bar for the rivalry to further competitors
  • Hold appreciation from government and international bodies
  • Support modernization and passion

Conclusion

The report concluded that corporate social responsibility is very crucial for the success of the company. Assignment one summarizes, the actions that businesses should take to fulfill their corporate social responsibility by the regulatory framework. According to ISO 26000, firms engage in corporate social responsibility voluntarily. CSR will set ethical standards for the clinic's marketing strategy and assist the business in adhering to its code of ethics for sales and marketing. People who are interested in learning can receive technical training and vocational courses from the case clinic. The business should start a program where people can improve their talents because it will boost the case clinic's social presence.

Assignment two concludes that St Thomas should use ethics and environment-friendly practice under its CSR policy, it should also include the CSR policy will affect the business over the long run and have an impact on its success. The company will be able to meet its social obligations and advance to new heights of prosperity thanks to these CSR changes. Every stakeholder in the business, including customers, suppliers, the government, the community, etc., will profit from this.

References

Duong, M.H., Moles, R.J., Chaar, B. and Chen, T.F., 2019. Stakeholder roles in facilitating access to essential medicines. Research in Social and Administrative Pharmacy, 15(3), pp.260-266.

Goodman, M.S. and Sanders Thompson, V.L., 2017. The science of stakeholder engagement in research: classification, implementation, and evaluation. Translational behavioral medicine, 7(3), pp.486-491.

Hadjikhani, A., Lee, J.W. and Park, S., 2016. Corporate social responsibility as a marketing strategy in foreign markets: the case of Korean MNCs in the Chinese electronics market. International Marketing Review.

Kolk, A., 2016. The social responsibility of international business: From ethics and the environment to CSR and sustainable development. Journal of World Business, 51(1), pp.23-34.

Ksi??aK, P., 2016. The Benefits from CSR for a Company and Society. Journal of Corporate responsibility and leadership, 3(4), pp.53-65.

Lu, J., Liang, M., Zhang, C., Rong, D., Guan, H., Mazeikaite, K. and Streimikis, J., 2021. Assessment of corporate social responsibility by addressing sustainable development goals. Corporate Social Responsibility and Environmental Management, 28(2), pp.686-703.

Lubis, A.N., 2018. Corporate social responsibility in health sector: a case study in the government hospitals in Medan, Indonesia. Verslas: teorija ir praktika, 19(1), pp.25-36.

Malik, M., 2015. Value-enhancing capabilities of CSR: A brief review of contemporary literature. Journal of Business Ethics, 127(2), pp.419-438.

O'Sullivan, S., Nevejans, N., Allen, C., Blyth, A., Leonard, S., Pagallo, U., Holzinger, K., Holzinger, A., Sajid, M.I. and Ashrafian, H., 2019. Legal, regulatory, and ethical frameworks for development of standards in artificial intelligence (AI) and autonomous robotic surgery. The international journal of medical robotics and computer assisted surgery, 15(1), p.e1968.

Rosati, F., Costa, R., Calabrese, A. and Pedersen, E.R.G., 2018. Employee attitudes towards corporate social responsibility: A study on gender, age and educational level differences. Corporate Social Responsibility and Environmental Management, 25(6), pp.1306-1319.

Sarkar, S. and Searcy, C., 2016. Zeitgeist or chameleon? A quantitative analysis of CSR definitions. Journal of Cleaner Production, 135, pp.1423-1435.

Scherer, A.G., 2018. Theory assessment and agenda setting in political CSR: A critical theory perspective. International journal of management reviews, 20(2), pp.387-410.

Sheehy, B., 2015. Defining CSR: Problems and solutions. Journal of business ethics, 131(3), pp.625-648.

Stekelorum, R., 2020. The roles of SMEs in implementing CSR in supply chains: A systematic literature review. International Journal of Logistics Research and Applications, 23(3), pp.228-253.

Suliman, A.M., Al-Khatib, H.T. and Thomas, S.E., 2016. Corporate social responsibility. Corporate Social Performance: Reflecting on the past and Investing in the Future, 15(1), pp.35-44.

Torelli, R., Balluchi, F. and Furlotti, K., 2020. The materiality assessment and stakeholder engagement: A content analysis of sustainability reports. Corporate Social Responsibility and Environmental Management, 27(2), pp.470-484.

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