Corporate Social Responsibility: Salient Stakeholders

Introduction

The report depicts the current practices of (Corporate Social Responsibility) CSR in today’s Australian business context. CSR has become as increasingly significant phenomenon in Australia rather all over the world (Pomering, Johnson and Noble 2013). It is referred to as a balanced relationship between the employee’s life and the financial performance of difference organizations. The report will analyze top 10 business leaders of Australia who are lagging from the common organizational CSR practices. It will also illustrate the impact of business decisions and leadership on the stakeholders and the related issues in the context of CSR. According to the involved issues different resolving practices that might remove the problem will also be discussed in this report.

Background context

CSR is the corporate responsibility of an organization for the impact of its decision and the activities on the society and also on the environment (Orlitzky 2013). During analysis, I have found that, there are over top 10 organiz

Outline impact of business decision or practices on the stakeholder

Business decisions and CSR practices are strictly related to the progress rate and profit growth of an organization (Isaksson, Kiessling and Harvey 2014). There are basic four factors such as economical, ethical, philanthropic and legal that comes under consideration while implementing the CSR practices within the organization. In the context of business environment the local communities, employees and the customers are identified as the main stakeholders. The actions taken by the organizational managerial team impacts also other interested parties than the stakeholders (Klettner, Clarke and Boersma 2014). I feel that, different types of proactive engagement of the stakeholders and the management of resource control strategies adopted by the organizations put firm impact on the corporate level strategies.

Identification of the major issues and resolving recommendations

Identification of the major issues regarding organizational CSR practices

During the assessment of current CSR practices of the organizations the major issue I have searched is the individual vision regarding the CSR policies. As every organization has their own norms and values similarly, the CSR adaptabilities re also different form different organizations (Pomering, Johnson and Noble 2013). In this particular news certain issues that I have identified are as followed:

The shrinking role plays of the government: The government is not enough concern about the current position of the less growing organizations and they are not searching for the issues for which the 10 originations are lagging behind the others. The economic condition of the organizations is the main reason.

Greater disclosure demand: Demand for greater disclosure is another issue relevant to CSR practices of the organizations (Fleming, Roberts and Garsten 2013). Inaccurate security and improper decision making by the leaders of the organizations leads the organization to financial decrement.

Lack of Enhancement of customer interest: There is a lack of product campaigning during the market launching. If the consumers are not getting enough resources about the usefulness of the product, then they are not finding any interesting thing about that particular product (Murray and Dainty 2013). The products produces by the organizations must have gone through a campaigning session, so that the consumers get to know the importance and the profit that should come from the particular product.

Competitive labour market and relationship along with the suppliers: The competitive labour market and the relationship of the organization to its suppliers are another factor that comes under consideration (Klettner, Clarke and Boersma 2014). I felt that, week relationship along with the suppliers is the other issue regarding Organizational CSR practices.

The issues strictly affect the current situation of the top 10 organizations and it also affect the leadership and decision making methodologies. I think that, ethical branding and corporate reputations are complimentary to each other.

Recommendations to resolve CSR relevant issues

I feel that, the organizations should incorporate professionalized CSR in order to mitigate the issues occurring relevant to the common CSR policies. Awareness regarding CSR will be helpful to reduce the issues of leadership management system and managerial decision making. I also want to suggest that stakeholder’s engagement and internal focus during the integration and mainstreaming are needed to be implemented within the organization. The organizations including individual employees should provide specific efforts in order to overcome the CSR related issues that are occurring within the organization (Fleming, Roberts and Garsten 2013).

Identification of legislation that prohibits the CSR practices

Legislation is referred to as the law that has been enacted by the higher authorities or other governing bodies to make any organization decision (Idowu, Capaldi and Zu 2013). We know that economic, social, legal and environmental aspects are closely relevant to the human rights. In this case I have found that the Australian deprived organizations are not giving fare wages to the employees working for the organization. The major laws are as followed:

1. The Laws addressed non-discrimination among the employees and unequal opportunities
2. Condition of the works and the working environment are not supportive.
3. Lack of native title regarding laws
4. Lack of cultural, social and environmental practices within the organization

Future of CSR

After analyzing the current situation I feel that, systematic CSR rather CSR 2.0 including new emerging approaches is going to be included to the common CSR practices. I must say that, in the coming future the organizations will adopt the four stage of CSR such as charitable, defensive, strategic and promotional. Apart from this, the benchmarks or standards of CSR instead of the traditional practices will be implemented within the organization in order to combat the current issues regarding CSR (Prabhakar and Mishra 2013). Additionally, progressing management, partnership trends, illustration of full life cycle management tools will be implemented within the organization.

Conclusion

The report described trends of CSR practices within the organizations. Several issues are identified during the assessment and the required recommendations are also provided (Murray and Dainty 2013). Apart from this, I have found that the stakeholder theory relevant to the CSR practices of organizations majorly covers three areas of specification such as activities of the stakeholders, interaction policies managed by them and the perception of the major stakeholders and the in the organizational strategies. It also provides the recommendations that are needed to resolve the issues.

In order to mitigate the issues resolving methods are also provided. From the CSR context I have prepared the coming future of CSR in the organization. Though the organizations are considering CSR as the reputation and brand image of any organization thus, raising awareness and the demonstration of CSR importance, should be campaigned within the organization.

References

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Idowu, S.O., Capaldi, N. and Zu, L., 2013. Encyclopedia of corporate social responsibility. Springer Berlin Heidelberg

Isaksson, L., Kiessling, T. and Harvey, M., 2014. Corporate social responsibility: Why bother. Organizational Dynamics, 43(1), pp.64-72.

Klettner, A., Clarke, T. and Boersma, M., 2014. The governance of corporate sustainability: Empirical insights into the development, leadership and implementation of responsible business strategy. Journal of Business Ethics, 122(1), pp.145-165.

Murray, M. and Dainty, A., 2013. Corporate social responsibility in the construction industry. Routledge.

Orlitzky, M., 2013. Corporate social responsibility, noise, and stock market volatility. The Academy of Management Perspectives, 27(3), pp.238-254

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