Lowe’s Corporate Social Responsibility
Asher G. Budka
Instructor: Joshua C. Rhodes
January 13th, 2013
Lowe’s Corporate Social Responsibility
This paper is about Lowe’s Corporate Social Responsibility into today’s society. To be discussed is what is a Corporate Social Responsibility (CSR) program, why should a company implement a CSR program, Lowe’s stance on Corporate Social Responsibility, connection between Lowe’s CSR and the Home Centers Industry, and who is Lowe’s responsible too. What is a Corporate Social Responsibility (CSR) program?
Corporate Social Responsibility is known by many names: sustainability, corporate responsibility, corporate ethics, corporate citizenship, stewardship, triple bottom line just to name a few. Triple bottom line means people, profit and planet. There are many definitions of Corporate Social Responsibility (CSR). Meeting Professionals International (MPI) defines CSR as the responsibility of an organization for the impacts of its decisions and activities on society, the environment and its own prosperity, known as the “triple bottom line” of people, planet, and profit (Meeting Professionals International , 2013). US Legal.com defines CSR as the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large (US Legal.com, 2013). My Strategic Plan.com defines CSR by way of the Stanford University’s Graduate School of business as an organization’s obligation to consider the interests of their customers, employees, shareholders, communities, and the ecology and to consider the social and environmental consequences of their business activities (My Strategic Plan.com, 2012). All 3 websites have a difference in how they portray their definition but include the same theme. I have found by research that CSR in my own words is the responsibility of an organization to behave ethically in its pursuit of economic growth considering its effects on environment while improving quality of life of its workforce and community. Why should a company implement a CSR plan?
There are multiple reasons why a company should implement a CSR plan, brand recognition, reputation, and increased employee morale and productivity, to name a few. By companies implementing a CSR plan that provides programs to improve the environment and communities they affect can create social networking that increases free marketing of their brand and increases there reputation. By increasing the brand recognition and company reputation in turn results in higher customer trust to buy their products increasing their profits. Also by implementing the CSR plan companies can increase morale and productivity by engaging their employees giving them the sense that their job is making a difference in turn making employees happier. Happier employees work harder. Lowe’s stance on Corporate Social Responsibility
Lowe’s is dedicated to its sustainability. Studying Lowe’s Social Responsibility website and report the company conducts itself ethically in its pursuit of economic growth ensuring it reduces its environmental footprint while improving the lives of its 248,000 employees and ensuring they are being a good neighbor to the communities in US, Canada, and Mexico where they operate their 1745 stores. To meet their ethical responsibility they provide ethics and code of conduct training to every employee and all vendors are required to adhere to their Vendor’s Code of Conduct and to ensure that vendors comply with the code; Lowe’s created a subsidiary called LG Sourcing. LG Sourcing uses internal and third-party quality assurance teams to help validate that our vendor partners operate safe and ethical factory environments and produce safe, reliable, high-quality products (Lowe's, 2013). Lowe’s improves employee quality of life by being dedicated...
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