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BUSM4687 Managing International Business Responsibly

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BUSM4687 Managing International Business Responsibly

 

BUSM4687 Managing International Business Responsibly

The corporate social responsibility is described as the concept of management through which the organization used to integrate environmental as well as social concern in the business operations and communications with the stakeholders. Although it has been noticed, that corporate social responsibility is implicit as the way by which organization used to attain a balance of environmental, social and economic imperatives (Schwartz, 2017). Furthermore, corporate social responsibility also helps in addressing the expectations of the stakeholders as well as shareholders. Moreover, promoting the uptake of corporate social responsibility between the SMEs needs approaches which fit the respective requirements and capacities of these trades and which does not adversely led an impact on their economic viability. In addition, it has been observed that properly executing of the idea of the corporate social responsibility might bring along a variety of competitive advantages like the enhanced access to the markets as well as capitals, rise in the profits and sales, improvement in the product and quality, savings of the operational costs, effectual base of human resources and improved brand image and reputation of the organization (Tai & Chuang, 2014). Apart from this, this assignment will shed light on the corporate social responsibility of an international organization which is named as Thornton’s.

Overview of the organization

The Thornton is described as a British Chocolate brand which is established by Joseph Williams Thornton in the year 1911. Later this organization has been owned by the Italian company which is known as Ferrero Spa from the year 2015. However, currently, it has been found that the organization net revenue in the annual report of 2016 has been report with a failure of around 30.8 million pounds with a reduction in the number of workers or staffs as well as the number of shops in London, UK. In addition, it has been further found that Thornton was once the largest confectionary that is it is the only parent organization in the United Kingdom (Thornton's, 2018). However, Thornton used to sale toffee and fudges at the beginning but kits specialism shifted into Swiss and Belgium chocolate after the end of the post-war rationing. The organization was scheduled on the London Stock Exchange and became the basic of the FTSE Fledgling Index. Apart from this, it has been further found that in the year 2015 it was won by Ferrero Spa for 112 million pounds and the organization has tainted their trading name from Thornton Plc to Thornton Ltd in November 2016.

Analysis and Evaluation of the CSR of Thornton

The chocolate organization Thornton has recognized that they must concentrate on the legal, social as well as environmental responsibility in order to make it better for the individuals. The organization always used to look after the taste as well as the choices of the customers. As the organization wants as countless individuals as probable to take pleasure in their mouth-watering products, therefore, the organization like to proffer the customers a broad variety of chocolates which consists of organic, fair deal and with no supplementary sugar range in order to take care about the health of the individuals (Farooq et al., 2014). However, it is known to all that eating a large amount of chocolate is not good for health, therefore, Thornton’s products used to feature all detailed nutritional advice in order to make an informed choice by the customers at the time of purchasing. Apart from this, it is also known to all that chocolate is mostly liked by kids and children’s hence the organization takes care about not using of any kind of artificial flavors as well as colors in the children’s products. Furthermore, the organization also provides customer helpline services in order to provide information in details about the ingredients being used in the children’s products or any other products. In addition, the organization also focuses on all of their creation in order to make certain about every distinct product they manufacture as well as the sale is simply the best.

Thornton also used to look after on the ethical sourcing of the organization as the ethical sourcing is very much significant for the company. Basically, the organization used to be much aware of the effects that have on the global environment as well as in the communities and especially the organization follows the value of the fair trading practices in order to establish a sustainable success of the company (Glavas A., 2016). It has been found that almost more than three hundred raw materials were being used in the manufacturing of the chocolates or the other products and that are sourced by the suppliers from all across the globe. Moreover, the organization used to ensure those suppliers to maintain as well as follow a high level of social, legal and environmental principles by frequently visit and auditing 95% of the individuals who are engaged in the supply of the raw materials into the organization. Apart from this, Thornton’s main objective is to focus on the food products as food safety is very significant for the organization and is also considered as a real priority for them. It has been further found that other than food safety, issues like aesthetics, paying of the employee, health and safety, conditions of the employment as well as environmental practices and policies are also reviewed by the organization in a regular manner. Furthermore, the organization also takes care about the suppliers as they are important for the organization and they must be treated fairly and therefore the organization used to review as well as revise their purchasing policy (Glavas & Kelley, 2014). In addition, the organization used to set their business standard high regarding their products on the market in order to make a better and long lasting relationship with the customers and also to be open and honest.

 



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