CSR Strategies Corporate Social Responsibility

Question: Discuss about the CSR Strategies for Corporate Social Responsibility. Answer: Introduction: In the recent years, a new trend has emerged in which the business organizations are identifying the viability of adopting green and environmental-friendly initiatives. The application of environmental-friendly processes creates a healthy environment for the employees, increases customer loyalty and reduces waste. It is also related to the image development and building. The business organizations also realize that it is their duty to contribute back to the society from where it generates its profits. At present, the environmental-friendly activities of the organizations are names as CSR (Corporate Social Responsibility) activities. There are numerous reasons that motivate a business organization to take the plunge to become environmental-friendly organization (Hart, 2009). Future Fuel, Colorado is a small oil company. The top management and the CEO of the company are focused to create an environmental-friendly organization. The company realizes that sustainability practices are not only beneficial for reducing the operational costs but also foster innovation in the organization (Urip, 2010). The mission of the organization is to provide quality services to the customers and contributing to the society as a whole. The sustainability practices of the organization are integral in supporting the society and giving back to the community. With the sustainable practices, an organization can foster innovation, reduces its expense and can step forward towards the sustainable development of the society. The sustainable practices allow the organization to progress without compromising the interest of the future generations. The goodwill obtained through the environmental protection and the sustainable practices will assist the organization in attaining new customers and establishing a brand name (Roettgers, 2011). In the present, the organization is supportive towards the initiatives regarding environmental protection and sustainable development. However, the present stand of the organization is more passive and it does not actively indulge in the environmental protection activities. The present stand often comes out as a neutral stand as the company has not yet taken any strong initiative for the environmental protection. The current corporate philosophy of the organization suggests that the company must strongly support the environmental initiatives. Currently, the company is making a substantial financial investment in the research regarding the identification of new sustainable energy resources (Hart, 2009). Nonetheless, the organization is also indebted to pay back to its shareholders. Currently the organization, being a small business enterprise, is making significant progress in the oil industry. The profitability ratio of the company is at par with the size of the firm. However, if the company wants to grow it has to invest heavily on the inclusion of the sustainability practices in the organization. The present profits of the company are limited; however, adopting the green practices will reduce its operational costs in the long run. Various companies are adopting green methods to attain competitive advantage over other firms in similar industry. Sustainability practices increases customer confidence and employee engagement with the firm (May, Cheney, and Roper, 2007). Going green is the new trend among the business organizations. The companies are quickly adopting the sustainability practices due to the increased customer awareness and government control. If Future Fuel does not ch ange with time, it will become obsolete and collapse wit time. Present is the high time that the company adopt these practices (Roettgers, 2011). Although the investment in research and development and equipping the sites with the solar and energy power systems will be huge financial burden on the company initially, it will provide benefits in the long term. Using the renewable energy resources will reduce the operational costs of the organization. The company will also get benefitted by the reduced energy bills. Using these energy resources will also reduce the amount of waste generated in the sites which will reduce the cost associated with the waste management to the company. It has been approximated that the financial investment made by the company in attaining the sustainability practices will be compensated in the coming decade. Then after, the cost saving by the company will be transformed into the companys profit. Other than that, the company may boost its image in the inter national and national marketplace by adopting the sustainability practices. It will be beneficial for the company in the upcoming future expansion plans (Wills, 2011). Conclusively, it can be stated that adopting the sustainability practices are beneficial for the business organizations. Future Fuel, Colorado should also adopt the green practices to achieve competitive advantage. The sustainability practices are beneficial for the organizations in uplifting their image, increasing their operational cost and increasing consumer confidence. Although the adoption of the sustainability initiatives is costlier for the organization, in the long run it reduces organizations expenditure. References Hart, T. (2009). Nonprofit Guide to Going Green. London: John Wiley and Sons. May, S.K., Cheney, G. and Roper, J. (2007). The Debate over Corporate Social Responsibility. Oxford University Press. Roettgers, F. (2011). Going Green Together: How to Align Employees with Green Strategies. Environmental Pioneers. Urip, S. (2010). CSR Strategies: Corporate Social Responsibility for a Competitive Edge in Emerging Markets. John Wiley Sons. Wills, B. (2011). Green Intentions: Creating a Green Value Stream to Compete and Win. CRC Press.