Fashion Company’s Corporate Social Responsibility Plan

Subject: Business Ethics
Pages: 1
Words: 289
Reading time:
2 min
Study level: College

There are many ways of how the fashion industry or any other business field can be improved, and promoting organizational change and sustainability are the steps to be considered. The main idea of a corporate social responsibility (CSR) plan is to create business values that enhance competitive advantage and uphold the necessary revenue streams (Economy, 2013). Radzinski (2014) indicates several key steps of a sustainability program, including commitment management, team education, sustainability assessment, development and implementation of efficiency improvement programs, and the identification of next-generation goals. According to Heyward (2020), social responsibility means having a number of achievable goals for a company’s growth, and one of them is to thank customers for their choice and loyalty. Therefore, all these strategies from developing a vision to increase talent requirement remain the key elements of a CSR plan.

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Today, a fashion company must have a CSR plan because it is a good opportunity to understand the worth of sustainability and the impact of political and social factors on brand value. Sustainability integration is characterized by properly chosen organization values, innovation, and authenticity (Thorisdottir & Johannsdottir, 2019). When companies show their intentions to apply CSR tactics, they are able to strengthen their relationships with customers and find new stakeholders and partners in a short period. It is not always easy to create a positive brand and make sure the public approves it. A CSR plan consists of clearly defined steps to not only identify the goals for a company but also educate the personnel and demonstrate how to examine public opinions and interests. As soon as people in a fashion company recognize available resources and know what clients expect, they should easily find a practical application to their theoretical knowledge and succeed.

References

Economy, P. (2013). A 5-step social-responsibility action plan. Inc. Web.

Heyward, C. (2020). The growing importance of social responsibility in business. Forbes. Web.

Radzinski, T. (2014). Formulating the framework – Designing your corporate social responsibility program. YouTube. Web.

Thorisdottir, T. S., & Johannsdottir, L. (2019). Sustainability within fashion business models: A systematic literature review. Sustainability, 11(8). Web.