Chap 5.11: CSR considerations when implementing change

Front

Define Corporate social responsibility (CSR)

Back

Corporate social responsibility (CSR) is when the business go above and beyond the legal requirements to take into consideration the wellbeing of relevant stakeholders when making business decisions.

Front

When implementing change, business needs to consider the CSR related to ?

Back

• CSR consideration for EMPLOYEE

• CSR consideration for SUPPLIER

• CSR consideration for GENERAL COMMUNITY

Front

CSR considerations for EMPLOYEE

Back

During periods of business change, managers must prioritize employee well-being.

• • Potential Impacts: Change can negatively impact employees through job loss, role changes, and financial insecurity, leading to stress, fear, and potential family disruptions.
  

• • Managerial Responsibilities: Managers should consider how change affects employees' social, financial, and mental health. Strategies to mitigate the negative consequences of change should be implemented to support employee well-being.

Front

Change: Downsizing, store closures, or the introduction of new technology, which leads to employee redundancies.

What CSR regarding Employees that business need to take into considerations?

Back

• Offering outplacement services to help employees find alternative employment.

• Offering counselling to help reduce anxiety and fear of employees in the workplace.

Front

Change: Introducing new equipment and machinery that employees must adapt to.

What CSR regarding employees that business needs to take into consideration ?

Back

Providing extra training and support to employees so they understand their new roles and responsibilities when adapting to new business practices

Front

Change: Reallocating labour resources,

leading to the redeployment of employees to new roles within the business.

What CSR regarding employees that business needs to take into consideration ?

Back

• Engaging in two-way communication to help reduce any misunderstandings or anxiety related to the redeployment, and address any questions that employees may have.

• Provide training to employees so they understand how to complete their new roles within the business.

Front

Change: Changing business operations

which affects the job security of employees.

What CSR regarding employees that business needs to take into consideration ?

Back

• Reallocating employees to different roles within the business to maintain their job and financial security.

• Speaking openly and honestly with employees who may feel anxious about the change.

Front

CSR considerations for GENERAL COMMUNITY

Back

Considering the general community involves businesses operating in a socially responsible and ethical manner to minimize negative impacts on society.

• 
  • Potential Impacts: Business decisions, such as store closures, can lead to job losses, reduced economic activity, and increased social problems like crime and poverty.
  

• • Importance of Social Responsibility: Businesses have a responsibility to operate in ways that support the well-being of the communities they serve, ensuring continued community development and minimizing negative social consequences.

Front

Change: Changing suppliers.

What CSR for GENERAL COMMUNITY that business needs to consider?

Back

Choosing local suppliers to create employment opportunities and improve the local economy.

Front

Change: Introducing new technology

that replaces human labour.

What CSR for GENERAL COMMUNITY that business needs to consider ?

Back

• Redeploying employees to other roles in the business to minimise unemployment rates.

• Providing terminated or redundant employees with job interview training to assist them when finding employment

elsewhere, minimising the extent of unemployment in the community.