BLE Essay Example | Topics and Well Written Essays - 2250 words

BLE - Essay Example7 Superior financial performance..7 CSR leads to agonistic advantage and sustainable development....8 Stakeholder management and CSR a critical review with respect to TBS.8 CSR facing inner pressures.9 CSR facing external pressures.9 Governmental and regulatory pressures.10 Pressure from NGOs and other alliances11 Applying Power-Interest ground substance on TBS to assess its stakeholder management success11 Conclusion.12 Appendices.. ..13 References..16 Introduction morality and social debt instrument is one emerging topic which has caught the attention of both the academics and the practitioners. Corporate social responsibility (CSR) in particular has gained immense prevalence and significance amidst globalization and blurred cross boundary activities. CSR in its essence is about promoting and building sustainable businesses through a three-pronged approach of environmental, social and economic public assistance and contributions to the overall betterment of the social club and the planet we live on (ASOCIO Policy Paper 2004). Scholars are of the cerebration that CSR counts a lot in exercising effective leadership and promoting healthy business practices at work. It in addition involves the element of transparency in business-society communication and adhering to the relationship merchandising approach (Whats Relationship marketing? n.d) for the involved stakeholders like investors, consumers, government, communities and partners (Appendix 1). Nowadays, CSR is being acknowledged as a valuable tool in gaining warlike and sustained advantage over rivals and also a promoter of sound financial performance for companies that interlace globally. This is so because CSR adds value to business propositions by bridging the communication gaps between company and its stakeholders and also anchors the vested interests of business towards society and development in the long run (McKinsey Global Survey Results n.d). To illustrate the concept of C SR and to prove the functional significance of CSR importance, the Body Shop is taken as the organization where CSR concepts have been applied and