Strategy and Society Human Resource Management †MyAssignmenthelp

Question: Discusss about the Strategy and Society Human Resource Management. Answer: Introduction: Corporate social responsibility is an essential element of all business organization which helps to ensure that the business firms are able to taking account of all forms of social consequences. Idea of CSR has emerged to deal with ethical issues that are often raised by the operations of business organization (Porter Kramer, 2011). One of the major purpose of implementing CSR is to ensure that sustainability principles having incorporated in the practically executed business plans. In order to deal with the issues of controversy between CSR and competitive advantage policy, the idea of business shared value has been incorporated. The main purpose of incorporating this idea is to ensure that competitive policy of a business firm is mutually dependent upon the value of social responsibilities. In other words it can be said that companies, which are able to follow the principles of CSR and business sustainability can automatically generate competitive advantage in the society (Porter Kramer, 2011). There have been several controversies in the past about the actual nature and purpose of business organization and the contribution of the same to the society. The idea of CSR has therefore emerged to ensure that the society is positively benefited with the actual outcome of business operations. The cause of major controversies after introducing the policy of CSR is due to the fact that most of the companies have to compromise upon their competitive advantage marketing policies. This ultimately results in financial capital loss, thereby losing the actual purpose of the business. It is essential to understand the connection between the social and economic progress in order to properly implement the principles of shared values in business practice. One of the major issues of incorporating traditional principles of CSR is due to the fact that they are poorly linked with the actual practical strategies of business. As the idea of shared values in business practice image it help to identify the social opportunities that can be utilized by multinational corporations to generate new business ideas in the market (Porter Kramer, 2006). Cost constraint is considered to be one of the major issue that prevented companies like Toyota, Ford or Volvo to implement the policy of CSR that can ultimately help them to achieve innovation in business operations and competitive advantage policies. It is important to consider the relationship between business and society as equal element of corporate growth. This can ultimately help to device a new framework and course of action to discover new opportunity of social market expansion. The mechanism of incorporating shared social value in business can include the business firm understanding and meeting the social needs by incorporating innovation design in product. For example large scale automobile companies like Toyota and Volvo can incorporate CSR strategies by manufacturing advanced car machines that emit minimum amount of pollution in the environment. Nevertheless, it is also essential to ensure that the cost of environment friendly vehicles is in par with that of the traditional motor vehicles. Productivity can also be redefined in shared values by incorporating new value chain. This can include improvement in both quantity and quality along with the cost of manufacturing. Proper utilization of natural resources is also required in order to minimize the misuse of the same. It is important to mention in the context that many of the business firms faced controversy of over exploiting natural resources. These can include pollution of the local environment from manufacturing unit. In order to avoid such controversy it is important to ensure the business organization built up the local community in order to understand the needs of the community. It is also essential to depend upon the local suppliers in order to get the best supply of the materials. It is important to mention that private business organizations play an essential role in order to ensure Rapid economic growth of the society. Nevertheless, incorporation of the local value chain is highly essential to understand the basic principles of CSR in the context of modern days. Inclusive of essential Business models in the principles of CSR is highly essential in the context of rapidly evolving economy. It is there for essential to involve complementary strategies to enhance the environmental need according to the business model (Crane et al., 2014). Additional it is also essential to develop upon the skills of business workers. This will help to deal with the social issue of unemployment. The poor economic infrastructure is considered to be one of the basic obstacles that make the principles of CSR more valuable in the context of developing Nations. Creation of business values is highly associated engineering high brand value in the modern day society. The idea of capitalism needs to be incorporated and balanced along side with the business values. The shared value initiative has been generated in order to understand the demand of the global society in the context of modern day business environment. This is important to consider that new barriers that are generated in the process of implementing CSR. These barriers originated according to the changing demand of the society. Business firm have to analyze the micro and macro environment of the society in order to better understand the role of shared values. The successful implementation of CSR can help to ensure that business organization is able to generate sustainability. It can also help to ensure that the employees within the organization are able to gain high level of job satisfaction. This element is also highly essential in order to incorporating long term sustainability and customer satisfaction and customer satisfaction. These limitations in implementing CSR are the major barriers that are preventing in the execution of utopian goals. Hence, in order to address the difference between shared value and CSR it is important to highlight that CSR principles do not change with the need of the society. The other hand the principles of shared business value try to incorporate and maintain balance between the principles of CSR and business requirements of multinational corporations. In the context of the modern day business environment most of the business organizations are able to incorporate the principles of CSR mostly due to the linking of the same with the modern day business requirements. The major limitations of CSR can also be overcome due to the added advantage of shared business values. In spite of the fact that there are still several controversies due to rise of environmental degradation in the modern day society, the principles of corporate social responsibility is unable to minimize the environmental damage. Along with the principles of business sustainability it is possible large-scale multinational corporat ions to understand the requirement of the global society. Business Ethics principle is also incorporated in the due process. Hence, it is yet not possible for shared business values to reach a position of perfection; there are several examples of social and economic balance that are successfully implemented in the modern day corporate world. In spite of several gaps, the business resources of the modern days are aiming to rapidly adapt with the changing environment of the society, which will enable them to incorporate new Business principles of sustainability. References Crane, A., Palazzo, G., Spence, L. J., Matten, D. (2014). Contesting the value of creating shared value. California management review, 56(2), 130-153. Porter, M. E., Kramer, M. R. (2006). Strategy Society. Harvard Business Review, 84. Porter, M. E., Kramer, M. R. (2011). Creating Shared Value? Harvard Business Review, January 2011.