Corporate Social Responsibility Essay Example for Free

Corporate Social Responsibility EssayToday doing business is no longer a question of creating the best products or making the most profit, it has developed to a matter of how? Due to scandals including child labour, poor working conditions and neglect of safety and health regulations, companies worldwide seduce been coerce to revaluate their moral and ethical standards. Consumers are without delay caring about much more than just the product, which make companies to monitor manufactures, secure labour standards and to be aware of the environment. This bracing phenomenon is called Corporate Social Responsibility or by its shortening CSR. Some companies like HM or Zara necessitate rejected to be come to in CSR. Others have taken CSR to a whole new level.Nike Inc. has during the past years non scarce fol woefuled the recent schooling within CSR hardly the apparel mastodon has also evolved to be a post model. Nike has as many other companies renewed their supply chain a nd methods of manufacturing. Their newest motto Innovative for a give out world describes their efforts at the most, but their new system of ranking manufactures, their Materials Sustainability Index that provides designers with information on the voltage environmental impact of the products they use, recycling program of old slips and their new manufacturing process of their recent shoe Flyknit with minimal waste speaks for it egotism. Nike has with these trustments proved they are willing to Innovate for a better world but how does it affect Nikes marketplaceing environment and will these investments comply with the overall concept Making money?Nike is market leader within athletic products worldwide and is considered the 26th most powerful brand by Forbes. The athletic brand has an annual turn over on 21.8 billion dollars and spends 2.7 billion dollars on advertising every(prenominal) year. The importance of Nike is not to be mistaken. Therefore their latest investments i n CSR are a huge ascent to the issue. Many huge companies such as HM and Zara have rejected to invest in CSR although their have been numerous scandals of poor working condition and child labour, which shows not all companies are willing to invest in sustainability and social causes. Nike has actually been involved in suchscandals, but denied all accusations.Nike has however with these new methods shut up all the critics. The party has been known for innovate shoes and closes to new standards and has used their strong suit in innovation to create new business methods Our vision is clear to help NIKE, Inc. and our consumers thrive in a sustainable economy where people, profit and planet are in balance . Nike is, according to this quote, nerve-racking to accomplish the almost impossible and create a winwin situation for the company it self and its merchandise environment. But is this possible?I believe so They have created better work conditions for employees of their manufacture s because of the jam Nike has put on theme. Nike rate the manufactures with gold, silver and bronze medals and have set the goal of all manufactures should have a bronze medal by 2020. And although Nike has made huge investments in innovating their products to new manufacturing and product standards with focalize on low environmental damage and a lot of recycling and therefore probably embossed their prices, consumers actually stand by Nikes new methods although raised prices usually do not get the blessing of the average consumer.Nikes revenue has increased from 18,528 million dollar in 2009 to 25,313 million dollar in the pecuniary year of 2013. This could be caused by the increased prices of their products but Nikes return on invested capital has followed the same development and has increased from 17.8 % in 2009 to 23,8 % in the fiscal year of 2013. What is more, all this is accomplished during a very challenging financial period, which tho gives Nike extra credit.Further more Nike is increasing the matched situation when they implement other competitive parameters than just product or price. Nike is also forcing the consumers to make a choice Cheap products manufactured by brands, who do not have the same CSR profile as Nike and therefore do not finagle about sustainability, the environment or employees of the manufactures, who often work under poor conditions and put their lives on the attempt every day, just to make some close or Nike who are trying to do the undecomposed thing and change these things.I am a big fan of Nikes new manufacturing methods They have the appearance _or_ semblance to have madethe impossible and made a win win situation. They keep innovating new robes and shoes, which becomes popular the moment it hits the market. And they accomplish this wonder contemporary with investing in better work conditions, sustainability and low environmental damage. Additionally they keep improving their accounting figures, even in diffi cult financial time Absolutely amazing in my opinion B BlogThen it happened again. A huge company forgot to do their research properly. We have seen it before when the Japanese car manufacturing giant Mazda named their car MR2, which means commode in the French language or when Warner Brothers named their new big movie wonder Free Willy, which is not the nicest word in the British language. This time it was the American athletic brand Nike, which released their new shoe minatory and Tan close to St. Patricks Day. It was a tribute to the huge beer brewery Guiness, which also inspires the shoe, which includes an illustration of a beer in the sole. Usually that kind of shoe would have been popular among the beer loving Irish people. But Nikes marketing people forgot one thing The Black and Tan was a violent British paramilitary, which ravaged the Irish independence wars and among this the atrocities of Bloody Sunday. Not a name you want to use for a shoe recognise the Irish peoples most favorite company.And Nike has experienced the consequences of the mistake. Nike has put a lot of money into innovating and advertising the shoe, which only makes the fault bigger. Some simple research or a Googling of Black and Tan could have averted the problem. Nike has now made a shoe to tribute Guiness that they cannot sell in Ireland. It may have ruined Nikes account and brand in Ireland and it has cost Nike million of dollars in manufacturing the shoe and may even cost billions of dollars in losses of succeeding(a) sales in Ireland. Hopefully Nike and other companies have learned their lesson and in the future understand the importance of cultural research.