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  • Essay / The Importance of Corporate Social Responsibility

    Corporate social responsibility (CSR) refers to a company's commitment to the community and the environment through various initiatives such as eco-friendly policies environment and community involvement projects that benefit society. Companies may be discouraged from pursuing CSR initiatives because shareholders may not want to prioritize social values ​​over financial results (Heal, 2008). However, socially responsible actions will definitely improve the image of companies, which has led to increased brand perception, which gives the company a competitive advantage as consumers tend to purchase from companies who advocate CSR (Malykhina, 2010). Furthermore, CSR mitigates the negative effects of globalization and maximizes the benefits of globalization (Wong, 2009). CSR initiatives will help companies to be sustainable in the long term in terms of business policies as they seek to maximize return on investment and benefits to society (Hollender and Breen, 2010). As a rapidly growing international brand, CSR has become a priority for Breadtalk. To contribute to humanitarian efforts during the 2008 Sichuan earthquake, Breadtalk created the "Peace Panda" bun in which proceeds from the sale of the bun were donated to relief funds for the victims (Breadtalk Concept, 2012 ). Additionally, this initiative was a good corporate social responsibility strategy as it increased Breadtalk's brand through free media coverage as the Sichuan earthquake attracted international attention. Through this incident, Breadtalk's organizational behavior was influenced to be innovative. Instead of using conventional advertising methods like advertising on media platforms, they used free media coverage of the incident to promote Breadtalk. In addition to being innovative in middle of paper advertising, managers can take steps to develop greater cross-cultural awareness by treating people individually instead of stereotyping them (Masondo, 2014). Another step is to never make assumptions. We need to collect as much information as possible so that we can understand the situation before evaluating it (Quappe and Cantatore, 2005). Another step is celebrating diversity, in which Breadtalk can recognize other cultures' holidays by hosting a company staff dinner that makes those employees feel appreciated within the company (Rodeck, 2014) . In addition, it can also help to strengthen teamwork and cohesion among employees whose indifferences between individuals will be minimized. As an international brand, recognizing cultural indifferences is essential for Breadtalk as employees are of different nationalities, thus reducing conflicts between people..