BLE Essay Example | Topics and Well Written Essays - 2250 words

BLE - Essay Example7 Superior financial carrying out..7 CSR leads to competitive advantage and sustainable development....8 Stakeholder trouble and CSR a critical review with respect to TBS.8 CSR facing internal pressures.9 CSR facing external pressures.9 Governmental and regulatory pressures.10 Pressure from NGOs and other alliances11 Applying Power-Interest matrix on TBS to assess its stakeholder management success11 Conclusion.12 Appendices.. ..13 References..16 Introduction Ethics and social responsibility is one appear topic which has caught the attention of both the academics and the practitioners. Corporate social responsibility (CSR) in particular has gained immense prevalence and significance amidst globalization and blurred cross limitation activities. CSR in its essence is about promoting and building sustainable businesses through a three-pronged approach of environmental, social and economic welfare and contributions to the overall betterment of the society and the artificial satellite we live on (ASOCIO Policy Paper 2004). Scholars are of the opinion that CSR counts a lot in exercising effective leadership and promoting healthy business practices at work. It also involves the element of transparency in business-society communication and adhering to the relationship marketing approach (Whats Relationship marketing? n.d) for the involved stakeholders like investors, consumers, government, communities and partners (Appendix 1). Nowadays, CSR is being admit as a valuable tool in gaining competitive and sustained advantage over rivals and also a promoter of sound financial performance for companies that operate globally. This is so because CSR adds value to business propositions by bridging the communication gaps between company and its stakeholders and also anchors the vested interests of business towards society and development in the long meet (McKinsey Global Survey Results n.d). To illustrate the concept of CSR and to prove the practical sig nificance of CSR importance, the Body Shop is taken as the organization where CSR concepts have been applied and