Name: Pacatang, Athea Clarice M.
Section: BSBAHRMOUMN 1 - B
Assignment No. 2
Answer the following questions:
1. What are the five driving forces that make CSR more relevant for firms today?
- CSR is significant because it has an impact on all aspects of a company's
management. Affluence, sustainability, globalization, communications, and brand are
the five driving forces that make CSR more relevant for organizations today. Affluence
raises societal standards. Affluence fosters a more engaged civil society, which results
in a faster shift of public attention to issues of concern. Sustainability will increasingly
drive CSR stakeholders as a result of this increased awareness. By incorporating CSR
into strategic planning and day-to-day operations, gradual companies will be able to
secure market share and competitive differentiation. Globalization allows stakeholders
from various cultures to express their concerns in a direct manner. In one culture,
actions that are acceptable, even required, may be prohibited in another. Firms,
whether fairly or unfairly, will be increasingly expected to meet these varying standards.
Globalization demonstrates that communication technologies, which increasingly define
the environment in which firms operate, hasten the spread of social innovations. It could
be found in mobile devices and social media. Brands are crucial to a company's
success, and a focal point of its success. Companies strive to establish popular brands
in the minds of consumers because doing so increases their competitive advantage,
resulting in higher sales and profits. Managers who are not convinced of the strategic
benefits of CSR may ignore these driving forces. However, by empowering stakeholder
groups, they are communally reshaping the business environment. And, because all of
these forces interact with one another, the interactive effects ensure that the operating
context will not only continue to change, but will change at an increasing rate.
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.
- Sustainability is the one of these five forces that I believe is more important than the
others. It is because mastering the ability to maintain a certain rate or level is essential,
and being sustainable means that the firm does everything able to avoid the destruction
of natural resources in order to maintain an ecological balance. I believe that if your
company is sustainable, it will be easier for you to notice other driving forces. It would
be simpler for the company to affluence, globalize, communicate, and establish its own
brand. I'll use my auntie's small business as an example of long-term viability or for
sustainability. She aspires to pack his products in an environmentally friendly manner
that is also convenient for consumers. This advocacy leads her to customers who are
concerned not only about fashion but also about the environment.
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?
- Samsung is the firm that I believe is strategically well positioned to take advantage of
the changes being propelled by forces for each of the five forces. Samsung is resilient
to driving forces such as affluence, communication, globalization, and brand. Samsung
is easily adaptable to changes. Customers find Samsung to be very useful and
noticeable. It is well-known throughout the world, and many people already trust the
brand. When all of these forces interact, interactive results occur, ensuring that the
operations run not only on changes, but also at an increasingly global rate.
4. For each of the five forces, can you think of a firm that is vulnerable to these
shifting dynamics?
- For each of the five forces, the firm that I believe is vulnerable to these shifting
dynamics is CD-R King, whose branches were closed as a result of new competitors
introduced into the market such as Miniso, Daiso, and more. CD-R King, too, failed to
expand and innovate with their products. Many people have expressed dissatisfaction
with the product's quality and marketing. The rise of e-commerce is another factor that
has made this company vulnerable to these shifting dynamics. Nowadays, almost
everything can be purchased online at a lower cost.
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?
- I believe that ten years from now, these five forces will still be driving ever-increasing
CSR because it is the strategy that firms must monitor. These driving forces are
essential to firms because without them, they would be unable to keep operating. These
driving forces contribute significantly to reshaping the business environment by
empowering stakeholders. I believe that other emerging forces will reshape CSR in the
future, as change is the only constant in the world. The fast improvement and progress
of technologies, particularly in Artificial Intelligence, is one of the emerging forces that I
see. In the future, high-tech will take over, and everything may be reliant on robots.