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Hyundai Corporate Social Responsibility Essay

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satisfaction of targeted customers more effectively and more profitably than competitors. Competitive advantage in a firm implies that firms are able to satisfy customer needs more efficiently than their competitors. This is achieved by firms adding real value to customers. 8) Concern for public image – this component asks the question of whether firms are responsive to social, community and environmental concerns. Brief explanation Corporate Social Responsibility (CSR) has been receiving much attention lately from business firms. Defined as “ the continuing commitment by business to behave ethically and contribute to the economic development while improving the quality of life of the workforce and their families as well as the local community and society at large”, it has been viewed as a source of a sustainable development and has been viewed by firm executives as a mandatory. One of the reasons why CSR has been …show more content…

(8) Hyundai is well aware of the issues regarding the community and the environment, hence being responsive towards those issues by providing “responsible stewardship”. (5) Hyundai is committed to future growth as it is concerned with future generations, who might be Hyundai’s future consumers. (2) Hyundai offers automotive products. Coca-Cola’s mission statement “To refresh(2) the world(3)…To inspire moments of optimism and happiness(1)…To create value(7) and make a difference(8). Comments on Coca-Cola’s mission statement (3)Coca-Cola aims to target global consumers, hence Coca-Cola operates globally. (1) Coca-Cola targets consumers who would like to have “moments of optimism and happiness”. (7) Coca-Cola’s competitive advantage is to create products with value. (8)This component from the mission statement might indicate that Coca-Cola would like to make a difference(i.e. socially). (2)The products being offered by Coca-Cola are drink refreshments. STEP 4 Sony’s revised mission

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