ASSIGNMENT 1

MAY 2021

STUDENT DETAILS:

FULL STUDENT NAME: CHISEKO PAUL

STUDENT NUMBER/ ID: G190110210

COURSE CODE: RSM301

PREFARED EXAMINATION CENTRE: BULAWAYO

SUBMISSION DATE: 15 MARCH 2021

ETHICS AND CORPORATE GOVERNANCE (RSM 301) MAY 2021 ASSIGNMENT

QUESTION 1
You have been assigned the Corporate Social Responsibility role by the top executive in your
organisation. You intend to implement a corporate social responsibility training program for
all junior and senior management staff. Write a letter to the company Chief Executive
Officer, explaining why corporate social responsibility training is important for the success of
the organisation. (25 marks)

ANSWER
1600 Leopold Takawira
Nkulumane 5
Bulawayo

Best bakers private company

Box 223
Bulawayo

To the Chief Executive Officer Best bakers private company

RE: IMPORTANCE OF CORPORATE SOCIAL RESPONSIBILITY TRAINING FOR

THE SUCCESS OF THE ORGANISATION.
After you have assigned me the role of corporate social responsibility I have seen it crucial to
implement a corporate social responsibility training program to junior and senior
management of the company so that they will be equipped with the requisite knowledge and
importance of the program and its benefits to the company.
Corporate social responsibility is a type of international private business self-regulations that
aims to contribute to societal goals of a philanthropic, activist, or charitable nature by
engaging in or supporting volunteering or ethically-oriented practices. It is when a company
operates in an ethical and sustainable way and deals with its environment and social impacts.
This means a careful and consideration of human rights, the community, environment and
society in which it operates.
Corporate social responsibility is very important to the success of the company because it the
organisation an improved public image. An organisation needs to have a sound image to the
public so that more consumers, suppliers and other stakeholders will be interested to do
business with a company that have a good image or reputation. So the company can just
volunteer to offer say a truck to carry garbage from the community from which most of its
customers reside there by creating a health environment to its stakeholders. This volunteering
will show that you are a brand committed to serve the community hence you will be
favourable to consumers thereby improving sales and profits.
Increased brand awareness and recognition can be enjoyed by an organisation through
corporate social responsibility. If you are committed to ethical practises news concerning
your brand will quickly spread. More people will therefore hear about your brand which
create an increased brand awareness and recognition. Promotions like buy two get one free
can be used to lure more customers to know you brand. Also use of social media like radios
and television, use of stickers and pamphlets to advertise the products in stock can also
increase brand awareness and recognition. The company can sponsor upcoming artists in
starting their projects and then when the artists’ works are being broadcasted or viewed the
advert of the company products will be also be done. So the brand will be known by anybody
who would have viewed the broadcast of the artistic work of the sponsored artist.
A good corporate social responsibility can also aid in the recruitment and retention of skilled
workers at the organisation’s structures particularly within the competitive graduate student
market. Recruitment costs are reduced if a company has a good social responsibility and
qualified employees will be easily recruited and retained as everybody want to be associated
by good companies that value its workers, community, customers, suppliers and environment
Corporate social responsibility can help improve the perception of a company among its staff
particularly when the staff is involved through payroll giving, fundraising activities or
community volunteering.
An organisation that has a sound corporate social responsibility can enjoy reduced scrutiny.
Corporations are keen to avoid interference in their business through taxation or regulations.
A corporate social responsibility program can persuade governments and the public that a
company takes health and safety, diversity, and the environment seriously, reducing the
likelihood that company practices will be closely monitored
Increased productivity can be enjoyed again by a company that have a good corporate social
responsibility. If the company is having qualified and skilled workers who feel safe at their
work place and feel being remunerated fairly, the organisation will have increased
productivity because everyone will put his or her mind on the task at hand. So the company
should appreciate the workforce by even giving workers some incentives like food hampers
and pay workers’ overtimes and even give them time to attend to their social problems.
More so, a company can enjoy an advantage over competitors if it has a good corporate social
responsibility. By embracing corporate social responsibility an organisation stand out from
competitors in its industry. An organisation will establish itself as a company committed to
going one step further by considering social and environmental factors. For example have
some promotions in which different prices will be worn like cars, fridges, stoves and other
things. Customers will obviously buy your products for them to eligible in the running
promotion shunning products from your competitors.
The organisation can enjoy increased customer engagement, if you are using sustainable
systems you should shout it from the rooftops. Post it on your social media channels and
create a story out of your efforts. Furthermore, you should show your efforts to local media
outlets in the hope they will give some coverage during broadcasts on the radio and television
like before, during and after news soccer matches, roadshows and movies and dramas.
Corporate social responsibility also makes the company enjoy greater employee engagement.
Similar to customer engagement, the organisation need to ensure that employees know the
organisation’s corporate and social responsibility strategies. It is proven that employees
enjoys working more for a company that has a good public image than the one that has a bad
image to the public. Furthermore, by showing that you are committed to things like human
rights you are more likely to retain and attract top candidates. So the company will benefit
from such expertise in the workforce.
In conclusion corporate social responsibility has more benefits for employees. There are a
range of benefits for an organisation’s employees when there is corporate social
responsibility. The workplace will be a more positive and productive place to work and by
promoting things like volunteering you encourage personal and professional growth that will
in turn increase productivity.
So by taking the junior and senior management through a training program of corporate
social responsibility will be of considerable benefit to the organisation’s success and growth
because once the management appreciate the program it will cascade down to the lower ranks
and throughout the who workforce hence the organisation will enjoy the fruits of good
corporate social responsibility.
Yours faithful
Chiseko P

REFERENCES
Ethics and Corporate Governance module (RSM301 module)
Ellie collier (2018)
www.givingcompass.org