Attributes of Excellence
A stakeholder is anybody who is affected by the business; they could be internal or external, as well as being in contact with them very often or only on occasions.
This is the duty and obligation of a business to other stakeholders.
|Stakeholder |Example of responsibility to that stakeholder | |Shareholder |Good return on investment | |Employee |Fair pay and working conditions | |Supplier |Regular business and prompt payment | |Customer |Fair price and safe product | |Local community |Jobs and minimum disruption | |Government |Employment for local community | |Environment |Less pollution |
The moral rights and wrongs of any decision a business makes are referred to as ethics. These are valued judgements which different individuals may attach a difference in importance and meaning. Ethical policies are adapted by businesses either because they believe in them or by providing ethical policies they believe they will improve their sales. Such ethical policies are the reduction of pollution by using non-fossil fuels, the disposal of waste safely and in an environmentally friendly manner, sponsoring local charity events, and trading fairly with developing countries.
Morrison Corporate Social Responsibility
Morrison’s pride themselves as being a down to earth business with their CSR programme, being consistent with their vision and values with their customers always in mind. To achieve this they focus on four key areas:
Environment: Taking good care of our planet. Carbon, waste and sustainability.
Society: Taking care of their shoppers, their colleagues and their communities
Business: Taking care as they go about their business. Sourcing, supply, engagement with stakeholders.
Policies: Morrison’s have a range of policies relating to aspects of responsible business practice.
Stakeholder satisfaction: Morrison’s believe this is vital in ensuring that their CSR programme remains both relevant and effective. It gives them a chance to identify issues and opportunities, be responsive to changes by receiving feedback into development and progress of their programme.
How Morrison’s are socially responsible?
Morrison’s believe stakeholder satisfaction is a vital part of their CSR. Their CSR report shows how they attempt to satisfy their key stakeholders.
To ensure that Morrison’s are doing their bit to look after the environment they aim to:
Morrison’s main carbon footprint includes energy, waste, refrigeration and transport for each of their stores. Morrison’s have managed to reduce their carbon footprints through a number of strategies:
o Energy efficient and low emission technologies
o Carbon and energy monitoring, management and control
o Sourcing and generating renewable energy
o Transport efficiency
To achieve this, Morrison’s introduced the strategy of great shopkeeping. This technique meant in 2008/2009 Morrison’s reduced the volume of their waste by 2,886 tonnes compared with 2007/08. On top of this Morrison’s recycle 73% of store waste.
They have also managed to...