Business Strategy The Co Creation Model - 1688 Words

Business strategy: The â€Å"Co-creation Model† Corporate social responsibility (CSR) and human resource management (HRM) continue to show increases in commonality within business operations. The need for CSR to be structured and organized within businesses is gaining attention from top managers (Carroll Shabana 2010) who want to decrease overall costs. CSR has both internal and external factors that contribute to the success of a business; internal: skills and education, human rights, labor rights, workplace health and safety, due diligence to internal stakeholders; external: duties to citizens, community, environment, and stakeholders (Harvey Pg. 53). HRM overlaps many of these areas, providing more emphasis on strategy execution,†¦show more content†¦However, today not only is CSR thought of as a business’s self-preservation for future survival, but also one’s duty to be socially responsible to the earth and people. As defined by the World Business C ouncil for Sustainable Development, Corporate Social Responsibility is the continuing commitment by business to contribute to economic development while improving the quality of life of the workforce and their families as well as of the community and society at large (1990). Although CSR is not a mandatory policy among business, many managers are adopting practices to increase profits though reputation, brand, identity and status (Ilona and Ruta 2012). Unfortunately, CSR is not widely implemented within business approach, and the demise is communications of these polies internally and externally is low, thus resulting in less effective outcomes. If management could find a way to integrate CSR into a structured strategy with polices, and concise direction and guidance, CSR aspects could be pursued and achieved on a day-to-day basis. Many workers feel confused that no such strategies exist