Definition of CSR and a description of what it is. Corporate Social Responsibility is a voluntary initiative taken by a company where they contribute to social, ethical , and environmental issues in society. Also known as “corporate citizenship”, CSR is a continuous commitment of a business to demonstrate ethical and economic activity that benefit the staff, the shareholders, the business, but most of all society. It is when a business takes of time money to make a difference in society. Whether it is to help a certain people or raise awareness for a cause, CSR is done in most businesses and it highly beneficial for the business in many ways.
4.Describe the major trends and forces that are changing the automobile marketing landscape and how Tesla is taking advantage and/or trendsetting in the automobile industry. Safety Becomes More Important: Safety plays a major role in the automobile industry with vehicle manufacturers constantly making improvements to avoid and lessen damage from collision. Automobile industry is also trying to improve braking systems, stability and lighting. They are also concentrating on environmental safety. Tesla is manufacturing environmental friendly car also takes care of safety by using air bags, antilock brakes, and seat belt pretensions.
Profit-Oriented or Socially Responsible? 2 Corporate Social Responsibility (CSR) plays a crucial role in organizations and societies. Traditionally, CSR is a management concept that has been implemented by most of the listed companies around the world. CSR is implemented by companies to be responsible for the company’s consequences on the environment and social welfare in their business operations and interactions with their stakeholders (Unido, n.d). In the other words, CSR is a program that benefits both society and business that do not provide immediate financial benefit to the company but environmental change and positive social (Investopedia,
The project life span was found that it would reduces 450 000 tons of carbon dioxide per annum over a 10 year period. The project is a waste management project. Exxaro has another waste management project which was approved and registered in 2012. The projects objective is to use furnace off-gas from the closed ferrochrome furnaces to generate electricity. The electricity will be used by Samancor Chrome and will reduce the demand for Eskom generated electricity.
As the responses towards the issue of global warming, Toyota became the first automobile company produce a fully hybrid vehicle which is Toyota Prius in 1997. Prius hybrid model uses internal combustion engine and electric motor as its power sources lead it better fuel-efficient and reduce greenhouse gases. Since demand of petroleum fuels increase lead to petroleum become scarcity, eco-friendly vehicles become one of the choice for consumer in the market. In 2010, Toyota Prius sold more than 2 million automobiles and became the most successful hybrid automobile in history (7). According to the report, the worldwide sales of Toyota hybrid automobile estimated reduce approximately 30 million fewer tonners of carbon dioxide and save approximately 11 billion litres of petrol to solve the shortage of petroleum and fossil fuel
Companies should be under pressure to become responsible and greener. Many companies are under pressure from shareholders to reduce their negative impacts on society and the natural environment (Bansal, 2005; Barnet, 2007) & Customers are concerned about the environment because of its environmental knowledge and they are tend to pay premium for purchasing green products. In order to achieve a competitive advantage and to satisfy the green needs of such environmental conscious customers ,companies are manufacturing products.. (Yazdanifard & Mercy, 2011) According to Chen (2010) ,green satisfaction is a level of customer consumer interest pleasurable level of consumption-related completion to satisfy a customer’s environmental desires, sustainable
From this perspective, Mazda considers the expectation of customers and society toward automakers in protecting the environment. The society stresses the energy and global warming related issues so that automakers would act to reduce the emission of carbon dioxide of vehicle. Moreover, customers also wish to reduce waste from vehicles and promote the resource recycling. Automakers are expected to reduce toxic emissions and turn to cleaner emissions as well as they can develop environmental management throughout the supply chain and the whole
Survival and Existence of a Company depends upon how responsible a Company is towards the Welfare of the Society. More active a Company is, it is easier for them to build a healthy Brand Image in the eyes of customers which leads to working towards building Brand Equity. Different concerns have different definitions of Corporate Social Responsibility (CSR) like, “The continuing commitment by business to behave ethically and endow to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.” – World Business council for sustainable Development. “The clear definition of Corporate Social Responsibility is that community is not just another stakeholder in our business but the very purpose of our existence,” – Jamshedji Tata. Greater number of the private companies says that they grasp Corporate Social Responsibility (CSR) not only because it reinforces their Brand, but also it is the right thing to do.
Environmental responsibilities is a vital component of an organization as it not only helps the environment, but it wins the trust of communities and gains the respect of the government of the countries in which the business operates. All business activities has impact on the environment directly or indirectly; they emit pollution; they produce waste and use resources. Business however it is continually being encouraged to improve their approach to environmental issues and hence it is necessary to have environmental values to guide the business of firm take the social
Third initiative talks about the title of the green city which involves large group of urban planning policies, aspired to preserve the environment and raise the proficiency of housing and buildings environmentally. The initiative also encourage environment friendly transportation also known as the sustainable transport. This program is also designed to decontaminate sir in the cities in UAE for everyone to enjoy a healthy environment. 4. Fourth consist of resources meant for dealing with the consequences of changes in the climate by using policies and programs intended to decrease the emission of carbon from commercial and industrial areas.