MAHA REHMAN

BBA 2k16 B

Strategy Management Quiz 3

CSR continuum refers to the CSR activities a company indulges in and helps them know where

they stand at the continuum. It then helps articulate strategy for the future and helps the company

evolve and improve their brand. CSR continuum has 5 stages: 1) benefits programs which means

how many incentives does the company give to its employees, this mainly revolves around

human resources, 2) workplace giving which relates to how much the company gives back to the

community one of the major examples is Blood Donation Drives or Disaster Relief like HSY is

producing Hazmat suits for the doctors in pursuit of Corona. 3) Cause marketing which

integrates CSR with marketing to increase profitability. 4) Employee engagement which contains

activities such as charities and other activities which engage all employees. And lastly, 5)

corporate citizenship, this occurs when a corporation comes to term with all their responsibilities

i.e. economic, social, legal, and environmental.

Fig 1. Corporate Social Responsibility Continuum

Moving from the iteration of the CSR Continuum from left to right i.e. from minimum to

maximum, respectively. The companies on the right side of the continuum are those who are

heavy into CSR activities.

• Maximize profit to the exclusion of all else

• Do what it takes to make a profit-fly below social radar

• Fight social responsibility initiatives

• Do what is legally required

• Do more than required-philanthropic giving

• Articulate social value objectives

• Integrate social and business goals

• Engage with stake holders

These companies that are present at the right side of the continuum lead the industry with the

best practices. CSR in Pakistan is developing over the years and in thee right direction, with

more and more customer awareness and green initiatives, companies are moving towards their

own green road. There are many companies in Pakistan including Martin Dow, who’s main

strategy is to provide welfare to the community, and they are at the right most section of the

continuum. Engro Foods and EOBI. All three of these companies have CSR integrated in their

strategies.

2.
Where knowledge is in itself a very broad term with no definitive meaning, Aristotle a Greek

scholar came up with three forms of knowledge: Episteme (knowledge of science), Techne

(skillful knowledge of arts and craft) and Phronesis (overall wisdom).

In theory, Episteme means to know in Greek. It refers to all the scientific knowledge one can

create, have, and learn e.g. universal knowledge, theoretical, invariable, and only context based.

Epistemology which means the study of knowledge is derived from the word Episteme, which

means all the justified facts.

Techne which means craft in Greek goes hand in hand with Episteme and it encompasses all the

skills and craft one can learn. This word now can be used with technology or technique. And

lastly, Phronesis which refers to the critical and ethical reasoning one has. Having a sense of

right and wrong etc. Flyvbjerg explains that "whereas episteme concerns theoretical know why

and techne denotes technical know-how, phronesis emphasizes practical knowledge and practical

ethics" [ CITATION Ben04 \l 1033 ]

To acquire knowledge there are four ways in which one can:

• Tacit –Tacit (Socialization)

• Tacit - Explicit (Articulation)

• Explicit -Tacit (Internalization)

• Explicit - Explicit (Doc Exchange)

One of the main example of acquiring knowledge is universities, which covers all four forms of

acquiring knowledge, where students come and socialise and learn from their environment while

observing (socialization), then they listen to different stories, go to different seminars in NUST

to have external knowledge from others experience (articulation), they then put whatever they
learned into practice during their final year projects and examinations (Internalisation) and lastly,

the students reconfigure whatever they learned in order to sort and combine and put into practice

(doc exchange).

3.

Capital refers to everything a company owns to produce more. There are 6 types of capital and

they are as follows:

• Physical: cash, land etc

• Social Overhead: roads, schools, hospitals etc

• Human: workforce

• Intellectual: knowledge

• Social: language, norms, values

• Environmental: natural capital

Herbert Simon, an economist best known for his work on bounded rationality and satisficing

created his model which had three steps: intelligence (collection of information from the

environment), design (decision model) and lastly, choice (application of the criteria of the best

choice). In todays world, during this pandemic Herbert says that in order to gain information one

needs attention, but as the information acquisition increases the attention span decreases and

since our attention spans have gotten so low one needs to allocate their attention efficiently while

replacing raw data and information with knowledge. Learning and knowledge management is an

iterative measure and one can never have enough of both. And one always need to keep up to

date with knowledge. During these times, corona was a relatively new thing where doctors had
borderline knowledge of this issue, they started researching on it and starting giving this

knowledge to others as well so that they learn and protect themselves from this pandemic.

Bibliography

Flyvbjerg, B., September 2004. Phronetic Planning Research: Theoretical and Methodological

Reflections. Planning Theory & Practice, 5(3), p. 283–306.