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Discussion 7

A company has suppliers in second and third world countries.  How much responsibility should the company take for the corporate social responsibility action or inaction of those suppliers?   

Posting at least 3 responses each week is mandatory. You need to answer discussion questions in 100+ words and post at least two 50+ word reply to other students. Please include at least one peer-reviewed citation to support your answer.

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Need Responses for Below Posts minimum 50 words

POST1 – Sravan

Businesses have a duty to ensure that their operations are environmentally friendly. A firm must respect the world by minimising its environmental effect as much as possible in order to continue operating ethically. Corporate Social Responsibility refers to a corporation’s social responsibility. It is the corporate body’s responsibility to safeguard the interests of society as well as the environment. As a result, businesses should supply goods and services to society in a lawful, efficient, and profitable manner (Fernando, J, 2021). A worldwide company’s self-regulation with the goal of accepting responsibility for its actions and having a beneficial influence on its customers, workers, communities, and the environment is known as corporate social responsibility.

Some important discoveries. Chemical firms have the greatest level of environmental stewardship. The size of the organization has no bearing: 80% of enterprises with less than 49 employees affirm the relevance of environmental protection to their operations. Being a socially responsible business may help to improve a company’s image and brand. Employees with a sense of social responsibility can use the business resources at their disposal to accomplish good. Formal corporate social responsibility initiatives can improve employee morale and increase workplace efficiency.

POST2 – Abhnav

Ways to Improve Corporate Social Responsibility:

The primary goal of corporate social responsibility is to ensure that all the concerns related to business operations can be addressed with better integration of community requirements and business needs (Maqbool, 2018). Creating a balance between the social and environmental concerns related to the business and addressing the issues that do not let the stakeholder’s and shareholders’ expectations be reached. The best way to improve corporate social responsibility among the suppliers in the second and third world countries is by the implementation of executive buy-in strategy as a part of corporate social responsibility. Regularly all the suppliers must be trained on the importance of corporate social responsibility (Hay, 2018). Motivation and training are the key steps in encouraging the participation of suppliers in corporate social responsibility.

POST3 – Charan

The term third-world country is used to represent the nations that are less developed or developing which was coined in the mid 20th century(Andrews, 2018). Corporate social responsibility is one the most discussed topics in the 20th century which made all the corporate leaders realize that their responsibilities are not limited to their stakeholders, employees, etc., but also extended to the communities in which they are operating particularly about the environmental and social issues. Corporate social responsibility has become the priority for many corporate organizations as it improves the company’s reputation, consumer loyalty, and many other factors that help raise the organization’s stock value and profits(anonymous, 2013). Many organizations rely on suppliers for basic equipment and goods. So maintaining a trusted relationship with core suppliers can be done by exercising practices such as plain-speaking, paying bills at right time, and taking responsibility for supplier development which helps the organization to gain more value and supplier trust that results in the success of the organization(Kokemuller, 2021). Corporate organizations will have added responsibilities when they became multinational organizations. The added responsibilities include environmental responsibility, ethical responsibility, economic responsibility, etc.

Environmental Responsibility

The leaders of the organizations take the responsibility to employ environmentally friendly practices to reduce the impact of the organization on the environment which is of many forms depending upon the size of the organization. Some use alternative energy sources while some employ recycling methods, and some donate to the local environmental programs to reduce their environmental effect(Johnston, 2021).

Ethical Responsibility

Ethical responsibility includes being ethical in all the business practices and maintaining transparency by treating everyone including employees, stakeholders, and customers equally and ethically as well (Johnston, 2021).

Economic Responsibility

Organizations having economic responsibility make their financial decisions to do good that includes spending money to spread social activities, improve health care for the poor, develop educational facilities, and many more charity events for the development of suppliers and the community that surrounds the organization.

Organizations with social responsibility towards the suppliers and community tend to have many benefits that include customer loyalty and trust, increased profits, stock value, and brings a positive impact with employee satisfaction that boosts employee morale to be more responsible for their work and actions(Pacific Oaks College, 2021).