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Transcript of CSR
Overview of Toms
Dr. Fei Son
Overview of Nike
90% of Fortune 500 companies have explicit CSR initiatives as of 2014
20% of consumers said they are willing to punish a company
88% of consumers said they are more likely to buy from a company that supports and engages in activities to improve society
One for One"
In 2006, Blake Mycoskie traveled to a Village in Argentina, befriended children and found they had no shoes to protect their feet.
Wanting to help, he created TOMS®, a company that would match every pair of shoes purchased with a pair of new shoes given to a child in need. One for One.™
Nike Inc. is an American Multinational company that is engaged in the design, development, manufacturing and worldwide marketing and selling of footwear, apparel, equipment, accessories and services.
Changing the Mindset, Behaviour and Culture of Society
Consumer behaviour can be significantly influenced by CSR activities
53% of the emerging market companies engage in CSR
70.4% of respondents said “People could make fairer choices if they were aware of which companies had high ethical principles regarding this issue”
1) Certification Program
Red Badge - less than 5%
Yellow Badge - company contributes 5-10% of income towards CSR initiatives
Green Badge - company contributes greater than 10% of income towards CSR initiatives
2) Corporate Social Responsibility Awards
Top 3 companies with green badges will be running for a CSR award which will be presented and publicized.
The top three awards will be a bronze plaque, a silver plaque and a gold plaque.
The plaques will be given out based on companies who have contributed a greater percentage based on income.
By creating competition between companies, it will encourage them to comply with regulations and be innovative.
Relating back to class concepts..
Consumers exerting pressure on organizations through purchasing power
Increase opportunities for innovation and building the brand
Align with shareholder values
Increase company value
System 1 & System 2 Thinker
Reciprocity & Trust
Relating back to class concepts...
Government should make corporate social responsibility mandatory
Bind corporations to follow with CSR
Stricter Hiring Policies
Monitor the production and ensure that the company standards for safety
Have a human resources presence
Universal code of conduct for the company