Stakeholders are the ones who are directly affected by the firm’s action. It’s very important to assess the corporate culture. So, the corporate culture is how management and stakeholders react, interact and communicate and it also includes their believes. It is very important that organization culture should be more into giving back to society but not only in profit maximization, just like Bunker Roy who was living his best life a person could dream of and can spend rest of his life in enjoying and party but he believes to serve the neglected society or we can say the citizens. An organization can even donate what they produce, they can set up a training program for societies members like Mr. Bunker has done it.
List of stakeholders are customers, employees, investors, shareholders, banks, government, suppliers, vendors, community, society etc. As an ethical business we should care about all the stakeholders and try to make decisions after taking their point of view into consideration. Just like Mr. Bunker identified his major stakeholders and fulfilled his CSR. According to my analysis for Mr. Bunker major stakeholders were the neglected citizens of village. A firm should identify the major stakeholder group to fulfill their CSR like an apparel manufacturing firm can donate their stock lots to the society who is not privileged on the other hand they can donate machinery and train them how to make products. In this case they will be able to prosper in short time.
Identifying stakeholder’s issue is very important for effective CSR campaign. One of the best ways to identify the issue is to get connected with stakeholders through different means, take feedback from them. If I refer to the video, we can see that how he develops the night school for children because those students are busy in day with daily chores and animals. So, they were unable to attend school in day time so the solution to their problem was night school. Like wise a firm should identify the major need and then act according to it. An energy generating firm can start a CSR in a village where there is no proper electricity system.
Assessing organizational commitment to social responsibility is a key element because if organization is not keen or committed in giving back to society so there is no use of it. Like Mr. Bunker was quite committed in his CSR he was helping different nation citizens along with Indians and he never lose hope when experts told him that nothing can happen here and when husbands become the resistance, he tried different strategies to resolve the issue so that his CSR campaign remain on track. A firm should be committed to their CSR campaign only in that case things will turn out to be productive.
Identifying resources and determining urgency is also a very important point to focus on in CSR. Look for the issues which are more prior and try to execute them firs and gather the resources to execute the activity without loop wholes. For example, you have to options either to provide proper clothes to the society, do plantation or to provide clean water and food to the people so now you have to make wise decision by prioritizing which activity should be done first. If am the decision maker of the organization I would go for the last campaign which is about providing clean water and food to the people and after making this decision now I will make assure that I have the proper resources.
Gaining stakeholder feedback is important because when ever you do anything you should take feedback so that you should either you were able to satisfy the people for whom you were making efforts. It also helps in making thing better next time.
We are consuming many things from society as an organization and individual its our responsibility to give back to the society.
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