Business organizations should be ready to support the changing expectations of their stakeholders. Every business should act ethically and responsibly in order to achieve its goals. According to Miron et al. (164), “a business that promotes the concept of Corporate Social Responsibility (CSR) achieves its goals within a short time”.
CSR is a powerful concept because “it encourages business organizations to support their stakeholders and communities” (Miron et al. 164). This concept has the potential to promote the performance of many firms. My targeted company for this exercise is GoldenTree Company (The Cocoa Processing Limited). This company has been marketing quality products to its consumers. This essay describes an appropriate low-cost CSR program that can support the company’s objectives.
The Proposed CSR Program
GoldenTree Company is currently headquartered in Accra. The company produces both semi-finished and finished products to its customers. Most of the company’s products are consumed in different parts of the globe. The company uses a unique business model in order to emerge successful. However, GoldenTree Company has not achieved most of its potential due to lack of proper business practices. The company does not have a viable Corporate Social Responsibility (CSR) program. My current goal is to ensure the targeted company embraces the above concept. The proposed CSR program will transform the company’s practices. The proposed Fair Trade Program will ensure the company achieves most of its objectives (Richards par. 6).
I will implement the above Fair Trade Program in order to support the company’s goals. This approach will encourage more people to understand the issues associated with chocolate production in Ghana. The targeted customers will also get a chance to appreciate the company’s efforts and strategies. The new program will encourage every customer to present the best feedbacks to the company. This strategy will ensure GoldenTree Company creates positive relationships with its stakeholders. The proposed CSR program will be less expensive for the company (Miron et al. 171).
The above fact explains why the proposed program will support the company’s goals. Every consumer will purchase most of the products marketed by the firm. The CSR program will also support the company’s strengths and competitive advantages. The proposed program will also improve the company’s brand. Every stakeholder will get a chance to ask different questions about the company’s products. This CSR program will ensure the targeted consumers develop positive opinions about the company. This program will eventually support the company’s brand image. The strategy will eventually increase the firm’s profitability (Richards par. 9).
According to Malovics et al., “Fair Trades are powerful methods aimed at increasing the production and performance of various products” (912). The company will be able to manufacture better products. The proposed Fair Trade Program will also ensure every stakeholder is satisfied with the company’s business practices. The program will target different stakeholders, employees, and consumers (Malovics et al. 912). These individuals will be ready to support the GoldenTree’s business model.
The company will be able to identify its strengths and opportunities. Most of the targeted consumers will support the company’s missions and goals. The targeted customers will also support the company because it utilizes the best methods of production (Malovics et al. 911). This program will encourage more consumers to purchase different products from the company (Malovics et al. 914). This practice will also increase the company’s profits and revenues. The proposed Fair Trade Program will improve the lives of many Ghanaians. The above CSR program will empower more citizens in order to achieve their potentials.
A powerful implementation strategy will be relevant for this CSR program. The company will have to create a Research and Development (R&D) department in order to produce the best ideas for the program. This department will incur little expenses because “the government offers useful information about every certified supplier” (Miron et al. 172). This CSR program will make it easier for GoldenTree Company to achieve most of its business potentials. The program will embrace the use of “Consumer Forums” whereby more individuals will interact with different marketers and organizational leaders. The company will target different regions across the country. This Fair Trade Program will be televised in order to inform more viewers about the company’s business practices. The proposed Fair Trade Program will therefore improve the company’s brand image across the globe.
Corporate Social Responsibility (CSR) is a powerful practice “that transforms the functions and operations of different businesses” (Miron et al. 172). GoldenTree Company will identify a powerful CSR program that can support the expectations of its stakeholders. This low-cost program will inform more stakeholders about the products marketed by the company. The proposed program will ensure every customer gets the best information. This practice will ensure every consumer makes accurate purchasing decisions (Malovics et al. 916). The company will embrace new ethical practices in order to attract more consumers. This approach will eventually make GoldenTree Company a leading marketer of quality products to different customers. GoldenTree will achieve its goals and eventually become profitable. In conclusion, business organizations should embrace the power of CSR in order to support their competitive advantages.
Malovics, Gyorgy, Naemi Csigene and Sascha Kraus. “The Role of Corporate Social Responsibility in Strong Sustainability.” Journal of Socio-Economics 37.1 (2008): 907-918. Print.
Miron, Dumitru, Monica Petcu and Iulia Sobolevschi. “Corporate Social Responsibility and the Sustainable Competitive Advantage.” Corporate Social Responsibility 13.29 (2011): 162-179. Print.
Richards, Janelle. Chocolate is a Bittersweet Way of Life in Ghana. 2014. Web.