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    Good Governance and Corporate Social Responsibility

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    Charissa Baral
    Communication is the most important driving force for corporate social responsibility according to the document. Globalization and new communication technologies have heightened the speed at which social innovations spread. Most companies now use powerful social media channels to interact with stakeholders and build permanent relationships. In the future, the five key forces of affluence, sustainability, globalization, communication and brands will likely continue driving greater CSR efforts as firms recognize the business benefits of having a positive social reputation. Emerging forces like big data may also reshape expectations for corporate social responsibility over the next decade.

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    Good Governance and Corporate Social Responsibility

    Uploaded by

    Charissa Baral
    103 views2 pages
    Communication is the most important driving force for corporate social responsibility according to the document. Globalization and new communication technologies have heightened the speed at which social innovations spread. Most companies now use powerful social media channels to interact with stakeholders and build permanent relationships. In the future, the five key forces of affluence, sustainability, globalization, communication and brands will likely continue driving greater CSR efforts as firms recognize the business benefits of having a positive social reputation. Emerging forces like big data may also reshape expectations for corporate social responsibility over the next decade.

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    Communication is the most important driving force for corporate social responsibility according to the document. Globalization and new communication technologies have heightened the speed at which social innovations spread. Most companies now use powerful social media channels to interact with stakeholders and build permanent relationships. In the future, the five key forces of affluence, sustainability, globalization, communication and brands will likely continue driving greater CSR efforts as firms recognize the business benefits of having a positive social reputation. Emerging forces like big data may also reshape expectations for corporate social responsibility over the next decade.

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    © All Rights Reserved
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    Download as docx, pdf, or txt
    103 views2 pages

    Good Governance and Corporate Social Responsibility

    Uploaded by

    Charissa Baral
    Communication is the most important driving force for corporate social responsibility according to the document. Globalization and new communication technologies have heightened the speed at which social innovations spread. Most companies now use powerful social media channels to interact with stakeholders and build permanent relationships. In the future, the five key forces of affluence, sustainability, globalization, communication and brands will likely continue driving greater CSR efforts as firms recognize the business benefits of having a positive social reputation. Emerging forces like big data may also reshape expectations for corporate social responsibility over the next decade.

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    of 2

    CHARISSA MAE BARAL

    BSBAHRM 1-3
    Prof. Duffy Mark N. Cabañas
    ASSIGNMENT NO.2

    1. What are the five driving forces that make CSR more relevant for firms today?
    Affluence- CSR becomes more relevant as economies grow and stabilize.
    Sustainability –It is in the best interest of firms to protect for the sustainable future the long –
    term availability of the resources on which they depend.
    Globalization
    Communication
    Brands
    2. Of these five forces, is there one that you feel is more important than the others? Defend
    your choice with examples from your own experience and knowledge.

    For me communication is more important driving forces of CSR .Globalization


    demonstrates that the pace at which social innovations spread is heightened by
    communication technologies.
    Nowadays,most companies use social media and currently it is the most powerful
    communication channels.
    Based on my research,in total, the number of people that own a smart and feature phone
    is 7.101 Billion, making up 89.76% of the world's population. 
    Source:(https://www.bankmycell.com/blog/how-many-phones-are-in-the-world)
    From my own experience, Thanks to the internet,that I can communicate with one another
    more fluidly than at any other time in history. I can instantly share photos, post news
    stories, and just chat with friends, family, and colleagues from anywhere in the world with
    an internet connection and can order food and stuffs online.
    This revolution in communication has an impact on CSR for it provide great opportunities
    to interact with stakeholders and maintain permanent relationship.

    3. For each of the five forces, can you think of a firm that is strategically well positioned to take
    advantage of the changes being propelled by that force?

    Affluence- Nike
    Sustainability – Lego
    Globalization- Coca Cola
    Communication- Microsoft
    Brands- Apple
    4. For each of the five forces, can you think of a firm that is vulnerable to these shifting
    dynamics?
    Affluence -Nestle
    Sustainability –Johnson and Johnson
    Globalization-Walmart
    Communication-Instagram
    Brands -SAP

    5. Ten years from now, do you think these five forces will still be driving ever-greater CSR?
    Do you see any other emerging forces (e.g., religion, big data)that might reshape CSR in
    the future to the same extent as the five forces discussed in this chapter?

    Ten years from now , these five forces will still be driving ever-greater CSR for as of today
    most firms improve for being socially responsible,it lead them to recognize their brand
    better,has a positive business reputation,increased sales and loyaty,operational costs
    savings,greater ability to attract talent and retain staff and most of all,they have easier
    access to capital.

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