CREATIVE

Your Name
CAPITALISM AND Date of
CORPORATE SOCIAL Presentation
RESPONSIBILITY
 THE PROS OF CREATIVE CAPITALISM

Creative capitalism was a concept introduced by Bill Gates as a sustainable

business strategy that helped him to become the most wealthiest person on
earth, with his fortune sprouting from Microsoft Office to Windows.
During the World Economic Forum conference, Bill Gates asserted that this
concept is a strategy where NGOs, governments, and businesses work together
to counter market forces that contribute to gaining of recognition, generating
profits, and eradication of inequalities.
Ideally, creative capitalism is linked with competitiveness, sustainability,
social responsibility, and increased profits.
Therefore, it helps meet stakeholders’ requirements by building sustainable,
responsible businesses.
(Koehn, 2008; Ali & Al-Aali, 2018).
 OBSERVATION OF CSR AND
SUSTAINABILITY
It is known that creative capitalism is ideal for businesses seeking to enhance
sustainability and promote CSR. The impacts of CSR are measured both
qualitatively and quantitatively through continuous communication advocated
by creative capitalism.
Ideally, social responsibility harnesses resources, social problem-solving
process, and innovation. Despite numerous economic uncertainty, capitalism
approach has helped to enhance the lives of billions of people globally.
Due to this approach, multinationals are more susceptible to poverty
alleviation, enhancing of medical health services, food security, and provision
of clean water.
(Kanji & Chopra, 2010; Donoher, 2017).
 INCREASED OPPORTUNITIES AND
ECONOMIC LIBERATION
Countries that have utilized this concept have been able to enjoy the
increasing benefit of economic liberation from oppression and miserable living
standards.
Through healthy competition in the global market initiated by creative
capitalism, people are able to live a quality standard of life.
The opportunity to participate in the global market has helped to increase
economic growth.
It also protects the private sector by ensuring the products ownership is
maintained and are safe from government nationalism, thereby increasing
wealth.
 EFFICIENT PRODUCTION AND
HEIGHTENED COMPETITION.
It is the obligation of every business under the creative capitalism to maintain
a sustainable production by cutting production costs and work on improving
competitiveness and quality.
It is evident that quality products generally lead to more purchases, which
results in profit gains whereas low quality goods escalate to losses.
Therefore, to improve efficiency and enhance competitiveness, organizations
should focus on specialization and division of labor.
Competition brings improvement in quality and low cost of products. As such
to remain relevant, there is a need to adhere to regulations, rules, and practices
of the market.
CORPORATE SOCIAL RESPONSIBILITY AND TWO SOCIALLY
RESPONSIBLE CORPORATIONS

Corporate social responsibility is one of the most important approaches to

business practices that ensures business are practicing environmental and
societal improvement through sustainable responsibility.
Businesses engage generally in CSR to increase their trust level and cultivate
legitimacy within societal levels. Though many businesses continue to practice
CSR, this aspect continues to be a controversial subject in developing countries.
Despite the numerous efforts to motivate companies to undertake the CRS
activities, recent research reveal that such activities have been jeopardized by
eliciting stakeholder censure and management ideologies.
(Turker & Ozmen, 2017; Michael, Blowfield &
Murray, 2011).
EXAMPLES OF CORPORATE SOCIAL
RESPONSIBILITY
Management inclination is a very significant aspect that contributes to lack of
obligation, authenticity, transparency, and social responsibility. Generally, such
cases are often observed in developing economies where the government firms
are poorly equipped, have leadership gaps, and unaccountable governance,
therefore, impacting the development negatively.
Despite such situations challenging corporations, there are two examples of
social responsible corporations that have undertaken CRS activities seriously.
They include BMW and Google Company.
In 2015, Google was ranked number one in CRS activities. It observes CRS in
three stages: environmental responsibility, societal, and governance.
(Angus-Leppan et al., 2010),
 BENEFITS AND IMPACTS
OF CSR
Its governance is based on accountability, ethical behavior, and
openness in the workplace. Despite one’s disability, race, or age, the
company ensures it has offered equal employment opportunities for all.

It has also addressed the interests of customers, employees, and

stakeholders in terms of offering reasonable prices of products, increased
salaries, and firm’s reputation, respectively.

Also, communities continue to benefit from its CRS both directly and
indirectly via philanthropy activities and charity programs. Also, it has
concentrated in going green to save energy for a better environment.
 EXAMPLES OF
ORGANIZATIONS
EMBRACING CSR
BMW is another corporation that continues to be on the spotlight in
undertaking CRS activities.
It is known for producing quality automobile such as Rolls-Royce, BMW, and
Mercedes. The BMW Group maintains leverage between its resources and
competitive edge.
BMW has enhanced children's traffic security through traffic education to both
drivers and students.
It also gives its employees competitive remuneration, therefore, attracting and
retaining high rates of innovative brains.
(BMW.com, n.d.).
GATE’S ON CREATIVE CAPITALISM

For several years, Gates has acknowledge the overall importance of this
approach in assisting the vulnerable in society.
He emphasizes the need for corporate world to embrace this idea of
improving global corporate citizenship. Bill asserts that, “if we are
focused on, creative capitalism will yield excellent results on innovative
products and service delivery through advanced technology.”
To solve the problems facing the corporate world, there is a need to adapt
the increasing technology; thus, creative capitalism was essential in
creating equity and reaching out to the majority. 
(Gates, 2008).
 CONTINUATION……..
Creative capitalism will see to it that only the individuals who deserve the
leadership position through their actions, get it. The stakeholders will have
amore substantial say, rather than the shareholders.
Notably, this approach will bring a massive change to business management
and organizational structure, creating more transparency, accountability, and
social responsibility.
This will push the dominant organizations to change their philanthropic
management to absorb the inevitable changes. The existence of a new
generation that yearns for something new and different, creative capitalism will
be their gateway. 
(Gates, 2008).
 REFERENCES
Ali, A. J., & Al-Aali, G. (2018). Competition and Corporate Social
Responsibility under Creative Capitalism. Journal of Promotion Management,
24(4), 533–554. https://doi.org/10.1080/10496491.2017.1380112
BMW.com. (n.d.). The international BMW Website. Retrieved July 26, 2020,
from https://www.bmw.com/en/index.html
Donoher, W. J. (2017). The multinational and the legitimation of sustainable
development. In Transnational Corporations.
Koehn, N. (2008, August 20). The Time is Right for Creative Capitalism -
Harvard Business School Working Knowledge.
https://hbswk.hbs.edu/item/the-time-is-right-for-creative-capitalism
Kanji, G. K., & Chopra, P. K. (2010). Corporate social responsibility in a
global economy. Total Quality Management and Business Excellence, 21(2),
119–143. https://doi.org/10.1080/14783360903549808
 REFERENCES

Turker, D., & Ozmen, Y. S. (2017). Linking values and ideologies: a scale
of managerial social responsibility values. Journal of Global
Responsibility, 8(2), 261–280. https://doi.org/10.1108/jgr-03-2017-0022
Gates, B. (2008). Making Capitalism More Creative