Download MT104 Corporate Social ResponsibilityPurdue University Globa and more Lecture notes Accounting in PDF only on Docsity! MT104 Corporate Social Responsibility Purdue University Global MT104 Introduction to Management There had been a debate going on deciding whether a business should be concerned with noneconomic responsibilities. This concern for responsibility and the response to it has been debated in court of public opinion for a very long time. It focuses on the concept of corporate social responsibility, which according to Bateman, is “the obligation toward society assumed by business” (2020). There are different levels of corporate social responsibility, economic responsibility, legal responsibility, ethical responsibility, and philanthropic responsibility. The economic is to produce goods and services at a fair price while also making a profit for the company. The legal responsibility obeys relevant laws, local, state, federal and international. The ethical responsibility is to meet the unwritten social laws and expectations. The philanthropic reasonability is other behaviors that serve the community and the business. The Target Corporation corporate social responsibility policy is “We’re putting the needs of people, communities and the planet at the heart of how we work today, to help build a better tomorrow”, by empowering teams, serving guests, foster communities, and design of tomorrow. According to the Target 2020 CSR (corporate social responsibility) Report, there were a number of things on the agenda for the year ranging from, sustainable water use and better worker wellbeing in the supply chain to how they source products and chemicals used in manufacturing. The two that stood out for 2020 were the ethical and philanthropic pillars, the ethical pillar being their response to the COVID-19 pandemic, and the philanthropic being their response to the fight against social injustices. According to the 2020 CSR Report at the beginning of the year they were focused on delivery growth and a durable business model. That soon changed as the pandemic swept across the world and the fight for social just raged on. It did this by delivering an efficient way to shop online and invested in company and community inclusivity and equity. Their top priority has always been the safety of the team and the guests. Some changes they made during 2020 to meet this priority was, requiring all guests and team members to wear masks, offering contactless order pick up and home delivery, disinfecting high touch surfaces, social distancing and guest metering, plexiglass partitions, and dedicated shopping hours to vulnerable guests and team members ensuring everyone had access to essentials items. Target being based out on Minneapolis, Minnesota the tragic May 25th death of George Floyd amplified their journey towards diversity and inclusion on the workforce. They formed a committee called REACH, that’s designed to listen to and work with black team members, guests, community leaders, and industry partners. Specifically, within its community in Minneapolis it pledged a 10-million-dollar investment to help rebuilding efforts and continued support with the National Urban League and the African American Leadership Forum. Targets mission statement is “to make Target the preferred shopping destination for our guests by delivering outstanding value, continuous innovation and exceptional guest experience by consistently fulfilling our Expect More”. They do this by engaging with guests in the store, as well as conduct focus groups and online polling. Target is a large corporation with a lot of eyes on it. It continues to prove why it is continually top in ranks and awards. The court of public opinion is not an easy one to please, but Target shows that its up for the challenge. It has more than 360,000 team members and 30 million+ guests a week, and it still ranks top 10 in philanthropy and number 13 overall in DiversityInc.
