Social Responsibility and Diversity Issues

Every company needs to comprehend diversity and social responsibility.

The two phrases connect the businesses’ operations and pursuits, allowing a firm to satisfy both its economic and environmental needs. On the other side, diversity and social responsibility align stakeholder expectations, connecting the value they add to the company and the whole community and encouraging them to operate transparently. Companies must practice good governance if they want to portray a positive image of managing corporate social responsibility and reflect diversity (Harjoto et al., 2015).

Shareholders expect that companies will behave responsibly keeping ethical standards as their priorities.

Firms need to bear in mind that giving back to the society is a critical condition that helps the company to develop a healthy working environment. A company that does not give back to the community is unethical and socially irresponsible. Lack of diversity and social responsibility denies a business shareholder’s confidence in it. Corporate directors in every company have to play a pivotal role for how the company behaves as well as how diversity image looks to elevate the company to the rank of a socially responsible firm. All the above determine how a company may look before its constituents. Diversity holds diverse meanings in any business depending on what the company aims at achieving. When a corporation realizes an advantage of diversity, it will design and market its products to suit a multicultural market (Krause, 2017).

Thesis Statement

Diversity and social responsibility make firms to be ethical, and by so doing, the expectations of the shareholders are fully met when a company maintains diversity and social responsibility making it earn a competitive advantage in the sales of its products. All firms are required to embrace the corporate social responsibility as well as diversity for them to prosper (Krause, 2017).

How Diversity Impacts a Socially Responsible Firm

Promoting diversity ensures that accountability emerges in a business; social responsibility executives need to understand that accountability is vital and is what any company believes to be a source of difference to its customers. On the other hand, diversity executives must ensure that they have an accountable ground to influence the creation of a right environment which attracts diverse capabilities which assist the firm to grow into a profitable company. A connection between diversity and social responsibility makes a company speak in one tongue as it implements more business imperatives. As such, a company will be in a position to come up with innovative products and services which have high value to the diverse community they serve (Harjoto et al., 2015).

Diversity assists in measuring a social impact through time investment, talent induction and commitment of resources to ensure a sustainable change and long-lasting outcomes on the society. The community and investors on diversity need a consistent and alive process to make it efficient. The diversity and social responsibility executives need to look at the community as a whole and trace the economic pressure arising from the community to align it with a company’s operations (Harjoto et al., 2015).

Success in action emerges from diversity since it acts as a lesson that teaches people how to tolerate others, understand them and thereby value other different people such as the minorities, people with disability and women. Eventually, an organization that is diverse will operate in unison (Harjoto et al., 2015).

How Diversity Impacts the Community

Diversity enables the ease of implementing corporate social responsibility programs in the community impacting positively on the public relations objectives regardless of the dynamic economic environment. Through diversity, businesses operate holistically across the marketplace and within an organization (Harjoto et al., 2015).

Integration of common goals in a firm, project measurement, and delivery emerges from diversity, as such, a greater exposure for the benefit of a company’s actions is put in place. In the long run, diversity results to a strong understanding and valuing of a business operation which brings about long-term success (Harjoto et al., 2015). It is important that diversity is promoted since it spearheads the social responsibility which creates a positive business environment that is ethical and all-inclusive.

References

Harjoto, M., Laksmana, I., & Lee, R. (2015). Board diversity and corporate social responsibility. Journal of Business Ethics, 132(4), 641-660.

Krause, F. (2017). Corporate Social Responsibility and Diversity Management: A Win-Win Situation? Comments from the Case of Germany. In Corporate Social Responsibility and Diversity Management (pp. 75-91). Springer International Publishing.