Challenges in implementing CSR
Corporate Social Responsibility can be separate into internal dimension and external dimension. Internal dimension and external dimension
Internal dimension focuses on organizational practices with respect to internal stakeholders that should be aligned to corporate social responsibility standards. It includes human resource management, safety and health, environmental impact and corporate change. External dimension focus on an organization practices towards external stakeholders which should be in business practices. It includes business partners, local communities and human rights. (Elijah Ezendu) The challenge of getting along with employee
When HSBC implementing human resource management and safety and health, they find there are some problems to manage them. From ethic and moral, HSBC should control the working time. Cannot let its employees work too long. But there is so many works to do. If the bank hires more employees, that means the cost will increase. It is very difficult to balance between the company’s cost and the employees’ rest time. All company should do employees’ health care planning including HSBC. This plan must be done every year despite the company is in deficit. It will be a big burden to the company. The most do not want to meet by a company is its female employee be pregnancy. Because when the mother give birth to her child she must rest at home, but the company still have to pay her salary for several months. For a profit earning company, it is very headache to pay salary to a non-output employee. Although it’s an extra cost for the company, but they still have to manage their employees well. It’s their responsibility. Sometime the corporation will have some change in the organization. It should not reduce the welfare of the shareholders, and they should respect the human rights. When HSBC is making some decisions, they will do some opinion poll to collective their employees’ suggestions. But most opinions are about the benefits of the employees. So it’s very awkward for the management to balance the benefits between the employees and the bank. And HSBC as a global bank, they have many branches around the world. In different countries they have to hire different employees. So these employees from different countries will bring different culture. Their behaviors are also different. So the managers sometime find it’s very difficult to satisfy all the employees. So when they are making decisions, the consequence may trend to benefit a part of employees. The challenge of getting along with customers
Shareholders include the customers. A responsible corporation not only provides good products but also follow attention to the services after the products are sold. Like a automobile company, when their engineers find there is a security risk in the car, they will recall all the cars that have been sold and change the problem parts for free. And to a food producer, if any consumer be poisoning because their food, the company should take charge of it. They have the responsibility to treat its consumer. HSBC as a bank, their responsibility is taking care of the assets of its clients. If there are some mistakes in the client’s accounts, it’s their obligation to help the clients to check where the problem is. The challenge of take care of environment
Taking care of the environment is also an important responsibility the HSBC must to charge. With the industry developing, a lot of CO2 have been released to the environment and a large number of forests have been destroyed. The global warming is becoming more and more serious. And the environment pollution is becoming worse and worse. HSBC as an environment friendly bank, they want to take charge of protecting the environment. But it will cost a large amount of profit. It will harm the benefits of stockholders. And it’s very difficult to carry out these activities when there is no profit in the balance. So HSBC is feeling very...
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