Answer to Question #171045 in Management for Haider

Question

TOMS UK mission is to donate a pair of shoes for every pair they sell and has

resulted in the donation of over 60 million pairs of shoes to children in need.

Starbucks is looking to diversify their workforce and provide opportunities for certain

cohorts. By 2025, it has pledged to hire 25,000 veterans as part of their socially

responsible efforts.

A) Discuss the concept this initiative falls under. Use an organisation of your

choice as an example to show the obligations it performs to the society.

Answer 1

The initiatives fall under corporate social responsibility. This concept involves the engagement of companies in nonprofit causes that improve environmental and social wellbeing, therefore, integrating company businesses with societal expectations. Through corporate social responsibility, companies achieve a balance of shareholder expectation and other essential social, economic and environmental obligations. For example, Ben and Jerry’s has supported charitable organizations that improve the living standards of people by contributing 7.5% of its profits. This act influences people’s lives positively while building a good reputation for the company.