Companies and CSR Trends
Companies and CSR Trends
Introduction
The corporate world is characterized by diverse CSR trends. Whereas some CSR trends are triggered by internal changes, others stem from external environmental forces. It is fundamentally crucial for organizations to monitor these trends in order to establish comprehensive frameworks for CSR. Failure to keep track of these changes undermines the capacity of organizations to implement successful CSR frameworks. This paper seeks to examine the trends triggered by external environmental forces as well as trends that emanate from internal changes. For the analysis, practical examples will help in evaluating the nature of such trends. Additionally, the paper will establish the different ways in which organizations can prepare or anticipate these trends.
External Environmental Forces
This comprises of changes that emanate from external environments. For companies in different industries, it is almost inevitable that they must face changes from the external environment. Among the most notable changes from the external environment pertains to competition.
It is fundamentally essential to note that different companies employ diverse strategies for competition. For instance, some companies incorporate innovative strategies within their frameworks for promotion in order to enhance their standards of competition (Hopkins, 2012). This type of approach triggers enormous changes within the approaches adopted by an organization in terms of corporate social responsibility. Apart from competition, another significant force that might trigger changes within the CSR framework of an organization pertains to regulatory frameworks.
Different regulatory frameworks have far reaching implications upon the CSR frameworks implemented within an organization. For instance, audits for modern-day corporate entities encompass numerous platforms for evaluating an organization’s CSR strategies. In order to attain the relevant compliance standards, companies must respond to such forces. This leads to a re-evaluation of a company’s strategy for CSR. All these attributes highlight the different ways in which companies adjust to trends that are triggered by external environmental forces. An example is when Starbucks developed innovative brands in order to compete with emerging forces in this industry.
Internal Changes
In addition to external influences, another framework that characterizes trends in CSR is the internal action of organizations. This occurs when the internal actions of an organization cause a given trend in the external environment. In most cases, this mainly applies to large scale organizations that have extensive influence over the market. For instance, a market leader like Microsoft might introduce new CSR strategies that seek to promote sustainable technologies. Because of the company’s influence in the IT sector, the internal action can cause changes in CSR practices in the entire industry.
From another perspective, it is pertinent to note that internal actions of a small scale organization can also cause changes to the external environment (Hopkins, 2012). This mostly occurs when such organizations introduce innovative CSR strategies within their operational framework. For instance, a small enterprise might introduce innovative initiatives that seek to promote health standards in the community. Such an approach can have extensive influence upon the CSR practices of the entire industry. These perspectives help in indicating that the internal actions of an organization can trigger changes in the external CSR strategies.
Anticipating and Preparing for Changes
In order to deal with the different internal and external changes, it is vital for organizations to establish adequate mechanisms for anticipating such trends. In essence, anticipation forms an excellent platform for making adequate preparations. The first strategy for anticipating changes in trends is the use of professional consultants. These are individuals with vast experience in predicting potential changes in given industries. The input of such professionals towards establishing comprehensive CSR strategies is immense. Consequently, they would help any organization in anticipating potential changes within the CSR framework.
Apart from using professional consultants, another approach for anticipating such changes is a comprehensive analysis of the prevailing market trends (Hopkins, 2012). This is vital in terms of evaluating the strategies being implemented by other companies. This approach comes in handy while preparing for potential changes within the external environment. Companies can prepare for imminent changes by evaluating the feedback provided by customers. The feedback from customers might be highly insightful in terms of assessing potential changes in the CSR strategies. Consequently, it is essential for organizations to establish an excellent rapport with clients. This forms the basis of examining the potential implications of different CSR strategies.
Conclusion
The paper exemplifies the two ways in which an organization might respond to external and internal changes. It is fundamentally essential to note that different companies employ diverse strategies for competition. For instance, some companies incorporate innovative strategies within their frameworks for promotion in order to enhance their standards of competition. This type of approach triggers enormous changes within the approaches adopted by an organization in terms of corporate social responsibility. A market leader like Microsoft might introduce new CSR strategies that seek to promote sustainable technologies. Because of the company’s influence in the IT sector, the internal action can cause changes in CSR practices in the entire industry. In essence, anticipation forms an excellent platform for making adequate preparations.
Reference
Hopkins, M. (2012). Corporate social responsibility and international development. New York, NY: Routledge
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