Banking on Corporate Social Responsibility in Australia: Case Study

Assignment Banking on Corporate Social Responsibility in Australia: Case Study Abc Date What is the purpose of business? The purpose of conducting corporate social responsibility to realize the value of the customer that the company has take care for all stakeholders including customers. It develops external brand name for the company and develop the structure of the employees in the organization. The value proposition is created thorough the corporate social responsibility that it recognizes the trust of the customer. The practice of CSR helps in to promote the culture of industry and realize the importance of values towards the customer. The involvement of community, market place, environment and workplace are the four components that are positively affect the operations of the company. As the western bank, that imposes many CSR activities to improves the operations of banks and increase the values of services to the customer. The CSR activity helps in to incorporate the employee commitment in achieving organizational objectives towards the social community .stakeholder forums are developed through the CSR activities that helps in to integrate the values of the business and promote the culture of socially responsible environment. The organization staff is volunteering the activity of CSR to promote the benefits given by the organization. The major benefits is recognized through the CSR activity in the west bank are reduces the employee turnover, satisfaction of job increased with high morale of employees, reduction in overall cost with increased revenue and improved the overall organizational performance. Thus to sum up the main purpose of CSR activity is to create the values of business while sustaining the financial performance of the organization and approach to the customer to enhance the significant value and trust of the customer. This ensures that the organization involve all stakeholders when conducting CSR activities. Should companies become involved in Corporate Social Responsibility? Provide reasons and other working examples. CSR is one of the main components of corporate governance. The concept of corporate governance is to follow the rules and regulations that are complying with the legal and make transparency in developing the organization goals. Yes, companies ahs to involve in the activities of corporate social responsibility in developing the trust of the customer. When the companies involved in the social activity that is helps in to increase customer satisfaction as well as employee satisfaction at the workplace. The social and environment effect is improved that increased the productivity of the employees and leads to increase the revenues. As the case is describes some of the main banks in the industry who integrate the CSR activities and improve their operations effectively. ANZ’s is the company is the global leader in performing the CSR activities. ANZ’s serves the community through political donations and about 60,000 hours are spending by the staff as volunteering to achieve the trust of community. ANZ’s serves the marketplace through management policies of forestry, energy and mining for institutional business and stakeholder reforms to realize the customer first in the process. ANZ’s is supportive to the environment by improving he supply chain process and reduce the wastage. Energy and water control management is established by linking all internal and external stakeholders in achieving the organizational performance. ANZ’s is facilitating the workplace by 24% female representation at executive level and implement breakout to collaborate the activity in colleagues. CBA is another example who deals in the CSR activity by promoting community through sports sponsorship, life skills program, and national appeal partner for Australian Red Cross. CBA facilitate the market place by focus on financial literacy. CBA serves the environment through bright sparks school programs that is realized for the climate change effects. They have also success in attaining the improvement of local environment. CBA also support to the workplace by development of professional staff and share plan with all employees as well as diversity at the workplace. What other Corporate Social Responsibility initiatives could Bank west undertake? Provide a short justification for each initiative. Many CSR activities could follow by the west bank in the social community to increase the value of customers. west bank could serve the community through participation of employees in volunteering the services to the customers, establish sponsorship programs with the sports and rescue team members, certain campaigns that focus on reduction of cancer by wearing red ribbon on the shoulder, indigenous assistance programs and develop the community by making partnership with army research foundations. These all programs are preparing through the affiliation of conducted firms and make membership with rescue and sports teams. West bank could support the marketplace by energy, forestry retain ship programs, development of money and dollar website, loan programs with equator principles, socialized banking with easy policies of insurance, no interest loan schemes and responsible schemes for lending programs to the customers. The loan scheme in which there is no interest rate is allowed is analyzed by investigating the person property and their wealth position. West bank could facilitate the environmental CSR through the internally and externally involvement of all stakeholders, focus on green environment by sustainability in climate change and partnership with those companies who effectively utilize the system of lean processing system. In last west bank, develop the programs for the workplace environment for health and safety schedules, employee career programs, fair balance in recruiting the staff and remunerations. This is gained through the training and development programs to initialize that the employees are the core part of the organization then it will increase the productivity of the employees. Is Corporate Social Responsibility in banking a viable business strategy or is it just a fad? Adopt a critical approach here-question the whole concept of CSR. The corporate social responsibility is very important for all of the business to expanding the relationship with all stakeholders. As the stakeholders include employees as well, so it is very important for the banking industry to integrate all the activities to realize the values of the employees are the core parts of the organization. The corporate social responsibility is the viable business for the banking industry that includes to formulate the guidelines of corporate governance, transparency in showing financial accounts, balance share in distributing dividends, employment opportunity and training development programs are the recognizable activities towards the banking industry. In addition, employee participation in decision-making, regulated with law reforms and effective compensation remuneration programs. This concludes that CSR in the banking industry is continuous achieving the trust of customer and is not a fad in the environment. The whole concept of CSR elaborates three things value, sustainability and approach. These all three things adopted through the exploring the CSR activities in managing the relationship with all stakeholders.

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Category Business-to-Business Marketing
Paper Type APA
Reference Type Assignment
Words 1110

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