CSR Activities of Mark and Spenser

Question: Discuss about theCSR Activities of Mark and Spenser. Answer: Introduction Organization is comprised of complex set of activities in which various activities are performed. CSR stands for corporate social responsibilities which are required to be followed by each and every organization to discharge their social responsibilities. Now a days CSR activities has been used by organization for increasing their brand image and wining clients trust at large. In several countries CSR activities are the mandatory to be followed by organizations in order to comply with laws and regulation of government (Keitsch, Sigurjonsson, Nilsen, Spencer, (2013). However, CSR has been taken as obligation to act which is followed in order to serve for the best interest of shareholders and company at large. This activity is optional or mandatory to follow for organizations around the globe as per different statutes and legal compliance of particular countries but there are several benefits which could be observed by companies following CSR activities e.g. increase in brand image, c reation of shareholder value, effectiveness of value chain activities, better compliance with laws and regulations. Mark Spenser has been following corporate social responsibilities in order to provide best services to its stakeholders. It is one of the UKs leading company which has been providing its services over 21 Million clients around the globe. It not only includes monetary contribution of organization but also includes doing business ethically for the best interest of stakeholders. (Smith, 2016). Mark and Spenser has been leader on CSR and sustainability within retail industry. As a part of corporate social responsibilities, Mark and Spenser has come up with five year eco plan. This plan has been introduced with a view to eliminate all the environmental problems to the extent. However, this plant has been resulted into increment in the brand image of the company and following benefits to the society e.g. 50,000 tones reduction in CO2 emission, recycling of clothing, reducti on of carrier bags by forcing clients to pay for bags. Throughout the time Mark and Spenser has been developing competitive advantages in developing trust of clients in its value chain activities. In addition, company has set up an effective reputation and attracts more stakeholders by setting up CSR programmed. In modern business world, CSR policies have become part of several organizations. According to business law it is observed that company is separate legal entity and in order to generate profit and raising money from the public it should bear responsibility for the welfare of society and other stakeholders of organization. There are several other CSR activities which have been followed by Mark and Spenser for its better business functioning (Perry, Towers, 2013). Theories of Corporate Social Responsibility There are several theories which could be applied by organization for its CSR activities. Triple Bottom Line Approach It is concept which provides that company should not focus only on earning profit from its business functioning but also take into consideration the environmental impact from its business functioning. Triple bottom line consists with people, plant and profit. Each and every organization while running its business must consider the impact of its activities on society and resources of nature in determined approach. Mark and Spenser should consider social sustainability, fair trade movement and economic sustainability while following triple bottom line approach in its CSR activities (Soundararajan, Spence, Rees, (2013). Stakeholder Theory Approach This CSR concept provides that company not only consider its business functioning but also evaluate the impact of its value chain activities on its stakeholders. These are the person who directly and indirectly affects or get affects by organization. Mark and Spenser while doing its business should identify the potential stakeholders who will get affected by its business functioning. Sustainability of Company Sustainability is related with using the resources in very effective manner so that they could be made available for the future generation of society. Mark and Spenser has been leader on CSR and sustainability within retail industry. In order to increase the sustainability of resources, company has developed an effective plan of not to use plastic bags and other hazardous products in its business functioning which could be determinate for the society. According to CR index and other big tick awards in order to comply with CSR companies could discharge their CSR in different areas. Mark and Spenser has played strong role in providing valuable working environment to employees for their better satisfaction. In the recent time Mark and Spenser has announced its new CSR program named One day wardrobe clear out. In this plan company will aim to generate 1 million amount for providing cloths and money to needy people around the globe. In this Mark and Spenser has issued a gift voucher for clients who surrender their old cloths in stores. This program has been developed with a view to provide best effective help for the people who are need of cloths and money for their survival. Mark and Spenser has been developing a plan in which its clients and it operation plans have been making contribution in order to develop an effective corporate social responsibility plan. In the developed plan of Mark and Spenser in not to use plastic bags in it s buying and selling activities there has been 20% reduction in using plastic bags. In addition to this there are several environmental green issues plan which was developed with a view to support plugging trees around the globe in high numbers (Adhikari, Biswas, Avittathur, (2016). Impact on Stakeholders from its Multiple CSR Activities Now it could be inferred that corporate social responsibility is very imperative for each and every organization for the better functioning of organization. In addition it allows organizations to render back what it has taken while doing business in society. Mark and Spenser has been following these corporate social responsibility activities for the best interest of stakeholders and organization at large. There are other several CSR activities which are going to be implemented by such as introducing employee development plan, establishment of eco plan, and best interest of stakeholders around the globe. However, these CSR activities will help organization to win stakeholder trust and eventually results into increment in the brand image of company. It is further observed that stakeholders are the essential part of Corporate governance of organization. Therefore, maximum advantage should be give to stakeholders by organization from its CSR activities. Mark and Spenser has followed three key pillars in discharging its CSR activities such as responsibility, transparency, customer engagement program. However, CSR activities have been accompanied with following points given as below (Bailey, Spencer, Bentham, Baylis, B Sams, (2016). Total Corporate Social Responsibilities Mark and Spenser has been developing several plans and activities for the best interest of people and plant. In its current annual report company has reflected that it has supported NGOs, and other organizations to support or boost young employability (Perry, Towers, (2013). It is the responsibility of organization to produce the services and goods what clients want. CSR activities put emphasis upon providing best quality of services and goods to clients by organization. In addition to this all the modern society rules and regulation would be followed by each and every organization for fulfilling their ethical responsibility. In addition to this, discretionary responsibility of organization should be purely derived by organizations desire to make social contribution in economy. Show the Transparency Transparency has been very big focus for growth of the organization. It has been given that company has to disclose all information related with its business functioning. Mark and Spenser has provided each and every single detail in its annual report either related with its CSR activities or with its legal compliance. Establish nexus between organization growths with its stakeholder welfare Mark and Spenser has been indulged in activities to develop training program for its employees for their growth. In addition there are programs which have been implemented by company in order to establish nexus between company and stakeholders such as issues of share at free of cost to existing shareholders, issue of Employee stock option scheme, issue of pari passu shares (Soundararajan, Spence, Rees, 2013). References Adhikari, A., Biswas, I., Avittathur, B. (2016). Green Retailing: A New Paradigm in Supply.Handbook of Research on Strategic Supply Chain Management in the Retail Industry, 290. Bailey, M., Spencer, N., Bentham, A., Baylis, B., Sams, P. (2016). What on Earth is Responsible Innovation anyway? (And how to make it happen). Keitsch, M., Sigurjonsson, J., Nilsen, B. F., Spencer, E. (2013). Sustainable Design and Social EntrepreneurshipA Common Path toward Social Innovation.Journal of US-China Public Administration,10(6), 618-629. Perry, P., Towers, N. (2013). Conceptual framework development: CSR implementation in fashion supply chains.International Journal of Physical Distribution Logistics Management,43(5-6), 478-501. Smith, N. C. (2016). From Corporate Philanthropy to Creating Shared Value: Big Pharmas New Business Models in Developing Markets.GfK Marketing Intelligence Review,8(1), 30-35. Soundararajan, V., Spence, L. J., Rees, C. (2013). Development from the inside-out? CSR and the construction of working conditions in Indian SMEs.