Today in the corporate world various strategies are applied to successfully run and execute transactions. In the recent years, the subject matter of Corporate Social Responsibility has escalated. “Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR). Communities are demanding that corporations take social responsibility for their actions, and elucidate the process of disposing waste in an environmentally manner to the people. Numerous businesses have initiated Corporate Social Responsibility approach in order to gain benefits, which will allow …show more content…
them to perform better than their opponents. The numbers of companies engaging in the Corporate Social Responsibility to run their businesses has been increasing drastically. Today, corporate social responsibility (CSR) helps companies to flourish and thrive by increasing the number of sales and spreading more brand awareness. Similarly, I chose Kenneth Cole as the company that has a respectable reputation when it comes to social responsibility. I chose this specific company to research further on because I shop with them frequently, and highly appreciate the fact that they run campaigns for AIDS awareness including, research, prevention and treatment. Kenneth Cole Production’s designs and markets includes a wide variety of shoes, bags, clothing and other accessories like watches, wallets, and fragrances, jewelry, eyewear and much more.
The product line can be found at department stores, Kenneth Cloe stores, and online. Kenneth Cole has run the business by successfully executing phenomenal strategies by using various ways to maintain a healthy relationship with its customers, suppliers, associates, the shareholders, and the society. The morally and ethically sound values of Kenneth Cole intrigue me the most. It has historically been a part of the corporate social responsibility since 1985, showing how it has been practicing CSR way before many companies who take part today. Kenneth Cole has thrived to ensure that it is vigilant about the environment rather than just compiling with regulations to compete with its competitors. Kenneth Cole has been a devoted supporter and advocate of AIDS awareness and research. The company has also received an award at the global generation for 30 years of global activism. Kenneth Cole uses the fashion platform to spread awareness about AIDS. After 25 years of addressing this meaningful social issue, Kenneth Cole has finally established ‘the awareness’ Fund’, which is a nonprofit initiative aimed at inspiring and endowing volunteer work, and social change with the help of company collaborations of stock, events and its blog. The entire net income coming from the awareness products go …show more content…
toward the funds for this cause. Kenneth Cole runs its business by driving Corporate Social Responsibility (CSR) as a tool that covers the awareness sector of the company and generates $500 million in sales.
It managed to effectively spread awareness and fund such causes with the revenues generated from the sales. As far as social responsibilities are concerned, Kenneth Cole has an effectual approach when it comes to returning to the community. The company has run several other campaigns alongside its vital campaign, which includes but is not limited to civil liberties, freedom of expression, and disaster relief. It has instructed several activities to inspire the society, and also develop a strong bond between the community and Kenneth Cole. These sensible, supportable and well-defined tactics will not only help building the brand and its reputation, but also make the community stronger. Such initiatives also lead to the company generating more
revenue. Kenneth Cole through its exacting methods has demonstrated that the company unlike most companies, puts an effort to ensure the safety and health of everyone that is related to their business, and the community. Kenneth Cole has taken advantage of the fashion platform to advertise more awareness about HIV AIDS and has managed to practice fair trade with its suppliers and customers, which has resulted in Kenneth Cole being vastly successful and rewarding financially. The company has a dexterous way of running the business by incorporating corporate social responsibility, and keeping their market position. Companies that take a part in corporate social responsibility can boost their sales and market share, decrease costs and can gain more attention from investors, extra motivation from employees, more brand awareness and better image of the company. Similarly, the business's corporate social responsibility investments will also improve the business performance, as clients appreciate CSR activities. Their initiative “Look Good for Good”, is helping people worldwide to fight against HIV, and change people’s live once for all. This is something that motivated me as a millennial to work at their international project, to learn about their social responsibility, and be a part of culture that cares about society. This is the reason why Kenneth Cole has succeeded in business world by corporate social responsibility.
Warby Parker’s practices are definitely a great example of corporate social responsibility. This is highly exemplified in Wary Parker’s donation program in which the company donates a pair of eyeglasses for every purchase made. Simply put, buy one, and get one donated. This is especially significant considering that Warby Parker is relatively new to the eyewear industry, where the vast majority of eyewear brands are under Luxotica. One can see that this attests to the true character of Warby Parker in that instead of following the leading brands in eyewear, Parker created its own brand and representation- a representation of giving back to society. Moreoever, Warby Parker treasures its customers. By doing business exclusively online, the company
First, the health of all individuals is an essential component of society in order to maintain a healthy functioning nation. With this in mind, lululemons athletica addresses this importance by building customer loyalty with in-store yoga classes to encourage its shoppers to maintain their body through physical exercises, let that be yogi, cardiac, or both. The company hires local fitness instructors to provide the guests the opportunity to learn about yoga and become participant of these in-store classes provided by the company at its expense. Consequently, instead of marketing and advertising, Lulu establishes customer loyalty through positive store experiences. Since the company is based on retailing athletic wear, it successful demonstrated that with positive store experience and high quality products in sum are essential principles for the organization to gain sustainable competitive advantage over other athletic stores. Besides advocating a healthier lifestyle, environmental concerns and the attempt to become an ecologically-friendly organization are also included in lululemon athletica’s mission in achieving social responsibility. To illustrate, Lulu introduced the line of organic-fibre clothing called OQOQO while also maintaining low price. This is important, consider the fact that organic material are friendlier to the environment and healthier to human beings; consequently, the corporation produces the least pollution. Equally important, Lulu launched The Charitable Giving program in which the guest of company have the choice to decide which local charities they would like to contribute. In addition to this, the company is also committed to non-profit organizations to prevention of Cancer, such as the Centre for
Firstly, is the Is the organization’s economic responsibility met? Under the circumstances, I would consider this criterion met.To enumerate that point the company is valued at over $200 million, strong financial results have been achieved in less than 10 years. With the company's plans to increase the number of operations to 200 new stores, this will continually be met. By offering a product that is desirable for people living an active lifestyle Lululemon will continue to thrive. Legal responsibility is public addressed by the belief that “every person we hire, garment we create, store we open, customer, we educate and yoga class we attend contributes to building a legacy in our communities”. Lululemon works with different outlets to try and achieve a healthier and more informed community as to how the business is conducted. By introducing the new organic fiber line they demonstrate ethical responsibility. As a leader in the industry, Lululemon has set the bar high for community initiatives. Their discretionary responsibility is perceived by focusing charitable giving programs to the specific areas Lulu is located they have further connected themselves with the community. Not only is the money guaranteed to go back to the community, the citizens also have the opportunity to dictate which charity the funds should be applied too. An example of one of the activities is the Active Kids Movement program. Lululemon is a perfect example of social performance by meeting all the criteria.
Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
Cultural capitalism, as explained by Slavoj Žižek, states that charity has now become the core of the economy. When we purchase and item, our anti-consumerist duty is doing something for others or the environment—to compensate for our egoistic needs. This is a form of consumerist redemption. There are companies that follow a “social” business model, which does the anti-consumerist duty for us, thus the charitable act is included in the purchase of the product. Social business models are used by companies to attract consumers, in return, they attempt to find solutions for larger social problems, such as poverty, education, health, or the environment (Žižek). Such is the example of the shoe brand TOMS, as they are famous for the “One for One” slogan. Which they claim that for every pair of shoes purchased they donate a new pair to a child living in poverty. Furthermore, on their website it states “through your purchases, TOMS helps provide shoes, sight, water, safe birth and bullying prevention services to help people in need”. Therefore, in our act of purchasing, we have bought our redemption by having the company help the world for us (Žižek). However, while trying to create a solution they continue to participate in the same larger structure of capitalism that created
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
This article is about the overall impacts of fast fashion. The particular section referenced discusses possible solutions and alternatives to fast fashion. It talks about how it is possible to produce environmentally friendly clothing through the use of organic cotton, bamboo, hemp, and other fiber crops that require less pesticides, water, and other inputs. It goes on to share how certain brands are beginning to implement the model of sustainable clothing. The point of this article is to introduce readers to the topic of fast fashion, give background, and show readers what they
Ralph Lauren, an American designer and a well renowned global brand, caters to all segments of men’s, women’s, and children’s wear, as well as a line of accessories and home decor. Lauren is notorious for his sportswear line, Polo Ralph Lauren, a line that claims to be his centerpiece of the entire Ralph Lauren empire. Lauren began designing his own brand of men’s wide neckties under the name ‘Polo’ in 1967. His designs were sold at major department stores, such as Bloomingdales. Within the year of designing neckties, Lauren decided that he wanted to expand and form his own company where he teamed up with his brother, Jerry, and received a $50,000 fund from a Manhattan clothing manufacturer, Norman Hilton. What was then called Polo Fashions inc., and eventually changed to Polo/Ralph Lauren Corporation in 1987, expanded from neckties to a full line of menswear. The Polo menswear line included sportswear, suits, shirts and ties. It was not until the early 70’s that Lauren started creating designs for women, one of which was a men’s dress shirt that was cut specifically for women. Ralph Lauren’s company throughout the 1970’s and 1980’s experienced prodigious growth as it continually opened boutiques across America and worldwide. This type of successful growth led to Lauren expanding into more products including accessories, fragrances, eyewear, shoes and home décor in the 1980’s. Ralph Lauren went public under the symbol, RL, on June 11, 1997 on the New York Stock Exchange. By the year 2000, Ralph Lauren Corporation reported over $5 billion in annual sales. The corporation’s market cap, currently, is $13.92 billion (Gurufocus, 2014).
Art deco was a decorative arts and architecture movement that originated in the 1910s in Europe and migrated to America during the 1920s and 1930s (Wolf, 2014). With the crash of Wall Street in October 1929 there was a great divide between the1920s and 1930s in America, which dramatically affected the mood of the two decades and American modernist designs produced in each (Ryan, 2014).
As a response of various environmental issues from the textile manufacturing industry, green or sustainable textile manufacturing has aroused in recent years. The idea and concept of sustainable textile manufacturing is involving ethical and sustainable considerations to the entire supply chain process, from textile production to apparel manufacturing to retailing. “According to the Ethical Fashion Forum (2011), ethical fashion “represents an approach to the design, sourcing and manufacture of clothing which maximizes benefits to people and communities while minimizing impact on the environment.” The ethical fashion industry follows an ethical production cycle which creates social and environmental value.” (Cervellon & Wernerfelt, 2012, p. 177) Consumers is the biggest contributor and the reason of success for the textile manufacturing industry, therefore, in order to promote the growth and future for sustainable textile manufacturing, the education and knowledge that consumers have on green fashion and a new mindset for business and manufacturing are crucial for the future of a better environment for
Charles & Keith, a well-recognized women’s footwear brand was established in 1996 in Singapore Amara shopping centre by the two young brothers, Charles Wong and Keith Wong. The company began its foreign market venture in 2000. To date, Charles and Keith has a presence in more than 20 major cities around the world. The brand are well-known internationally today with the vision “to be the most admired fashion-forward company” and the mission “to offer high quality products and services, with a commitment to perfection” in mind all the time (Charles & Keith, 2013).
CSR is one of most important parts of every company. Acting as socially responsible is must for winning the race of competition. In this report, in the 1st part I tried to show a brief about CSR, its history and how people respond towards CSR. Then I have chosen Unilever, a famous FMCG company for the analysis. Then I tried to find out the CSR activities of Unilever all over the world, its corporate strategy and the contribution of CSR activities to corporate strategy. In the last part a SWOT analysis and some recommendations are given for more clarifications. I hope that this report will be able to give a clear view about CSR and its contribution to corporate strategy.
It is certain that people are getting more used to wasting products that are still reliable to use and, especially in fashion, not that many people are aware of the concept of sustainability. Although concept of recycling paper, plastic and glass has now spread a cross the states, people still doesn’t know how to recycle or reuse their clothing. “65 pounds of clothing and textiles a year are improperly discarded and only an eight of that goes to charities for reuse [1].” This indicates how unaware people are when it comes to taking care of their garments. Or rather, the way in which fast fashion industry promotes the value of cloth is very low, and it is because the fashion industry wants people to get rid of their clothing as soon as possible in order to sell their new colle...
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its