What Is CSR?
Corporate Social Responsibility, or CSR, is a self-regulating standardized guideline for business operations that assists a company to be socially accountable to its stakeholders and the public. By practicing CSR, companies can be conscious of the impact they are having on many aspects such as economics, society, and the environment. That means a company is operating in ways that enhance positive impacts instead of negative ones. Corporate responsibility programs are also a great way to raise morale in the workplace because the activities can help companies to shape a stronger bond with employees. In addition, it boosts morale and builds stronger positive connections and relationships between employees and employers.
Example of CSR
Starbucks has long been known for its intensity of corporate social responsibility and commitment to sustainability and community welfare. According to Starbucks' 2020 Global Social Impact Report, it reaching 100% of ethically sourced coffee, creating a global network of farmers. Moreover, Starbucks' goals for 2021 are hiring 10,000 refugees, reducing the environmental impact of its cups, and planned to help the world navigate the coronavirus pandemic.
Personal Experience of CSR
My father runs a pork meat processing company in Taiwan. He purchases pork from suppliers nearby and then processing pork in the factory. He did not think any of his products are socially irresponsible. He thinks he is just providing food for the people. However, it is not as simple as he thinks. When I told him we can do more than just feeding people, he did not believe me and thought I was crazy.
Learned from Beyond Meat
Five years later, when I heard about the company, Beyond Meat, I was attracted by its mission. "By shifting from animal to plant-based meat, we can positively affect the planet, the environment, the climate, and even ourselves. After all, the positive choices we make every day – no matter how small – can have a great impact on our world." So, I tried to persuade my father to shift his products like that. And, it was not surprised. He denied my proposal. He was stuck in a traditional concept that businesses are all about profits. However, I think when the rivers are all dried up, and all the trees cut down, people will then realize that they will not be able to eat money. My concept was simple. I don't want to wait for the end, I want to do something for a better future, a sustainable one.
Inconvenient Truth
Beyond Meat believes that unlike ¼ lb U.S. beef counterparts, original Beyond Burgers can be made by generating 90% fewer Greenhouse Gas Emissions, according to the University Of Michigan, 2018, the Environmental Impact of the original Beyond Burger vs ¼ lb. U.S. beef. Life Cycle Analysis. So, I started to invest in this company and buying its shares. And, I also started to purchase its products.
Profit-Orient Business
After a couple of years, my father was influenced by the actions I took. He started a new plan to make and processing some plant-based meats. Then, he was shaken by the increasing demand for these new products. When the profits went up, he decided to put more effort into this program and ask me to provide more suggestions of how to do it. In this story, not only his company was increasing profits, but also it influenced the environment and society. In Taiwan, more and more people tend to buy plant-based products instead of animal ones. According to World Animal Protection, by Forbes, Dec. 2019 Report, plant-based burgers are saving approximately 250,000 animals per year. Although we may think that how animals live their life is not our business, we as humans still have empathy to feel the pain of other animals. An empathic society is a better place to live. Less violence and less abuse. In the workplace, I found that the employees tend to be more kind than they were before.
Summary
Although it looks like just a profit-seeking decision, it did affect how we doing business and it also spreading all over the industry. If we consider CSR as a need, a need for a better world and a better future, then companies can also make profits by satisfying those needs. I think the CSR provides us a clear and formulated standard to follow rather than discuss and judge each step. If you set a goal for yourself, you are more likely to succeed by putting in more resources and focus on it.
Reference
Fernando, J. (2021, September 7). Corporate social RESPONSIBILITY (CSR). Investopedia. Retrieved September 10, 2021, from https://www.investopedia.com/terms/c/corp-social-responsibility.asp.
Posts
