Significance for CSR Corporate Responsibility Assignment Sample

• Type Assignment
• Downloads1044
• Pages7

Introduction

Get free samples written by our Top-Notch subject experts for taking online Assignment Help services.

Corporate Social Responsibility, which has grown into a foundation for many businesses, has progressed from its infancy. In today’s competitive economic environment, CSR is becoming a need for companies to succeed[1].

Company Details and Its Corporate Social Responsibility (CSR)

COMPANY & ITS COMPETITORS:

Millennium Hotel and Resorts established around 1989 under the ambitious chairperson, Mr Kwek Leng Beng who also oversees Singapore’s Hong Leong Group as well as Singapore designated international real estate “Company City Development (CDL)”. Competitors like Shangri-La Asia Limited were debuted in 1971 following the opening of their inaugural hotel in Singapore. The Shangri La business is Malaysian based and its businesses operates around 95 hotels as well as resorts across Asian Region, North America, Middle East and Europe including approximately 40,000 workers & 40,000 employees[2].  Another Competitor such as Melia Hotels which is based in Palma De Mallorca, Spain began in 1956 and it is the biggest global hotel and resort companies and it the Spain’s premier hotel company.

ISSUES:

The ethics of food revolves around right and wrong in terms of creation as well as the food consumption. Cost, time & commitment always remain crucial variables and assets for choosing the appropriate food and again how the people are going to perceive it, therefore variables or assets may strain “Overall Decision-Making” process[3]. Sanitation & cleanliness are some of the important factors for the hospitality and food service sector especially at the time of Covid-19 and made it a necessity for the hotel and resorts to give more importance and consideration, so that the people from all over the world coming to the hotel and resorts can be safeguarded.

COMPANY ANSWER

In the statement of “Millennium Hotel and Resorts”, they address the issues regarding the Corporate Social Responsibility of them towards the society as well as on the global level. The company is stepping up the preventative precautions such as “We Clean. We Care[4]. We Welcome” initiative which make sure that the people are having a protected, hygiene as well as satisfied stay and the wellbeing of the employee are also taking care of.    

THEIR PURPOSE/ GOALS/ VALUES:

As a subsidiary of Millennium & Copthorne Hotels PLC, the company’s objective is to become the world’s biggest and most prestigious hospitality property owner, with competent and unique “Asset Management skills” in diverse nations[5]. To accomplish this, the organisation is focused on offering the greatest possible experience for employees and consumers in terms of safety, hygiene, and sanitation.

CSR MOTIVATIONS AND BENEFITS:

The company states that “We want to make sure that we’re operating ethically and lawfully as well as treating our people with respect and concern, and continuously working in reducing our environmental effect”. Furthermore, the company is devoted in protecting the “human rights” as well as preventing the critical crimes such as human trafficking & enslavement. The corporation places a high value on environmental issues, and 24 researches (out of 80) that evaluated the costs and benefits of environmental CSR actions, 12 studies demonstrated that “energy conservation” may result in significant cost savings[6].

The competitors such as Shangri-La Hotel which is continuously maintaining and organizing the business operation in the ethical manner while taking care of the needs and concerns of its stakeholders for the sustainability of the business. Another competitor that is “Melia Hotels International” states that “With significant social responsibilities and organizational values, we aspire in contributing to the general welfare”. For example: the company joined forces with “World Travel & Tourism Council” in ensuring the ethical industrial development as well as the harmony among the “people”, “planet” and “profits”[7].

CSR Standards and Reporting Formats

Initially, ISO 14001 worldwide protocols was publicly released on 1^st September 1996 that defines the specifications for Environmental Management System along with the organizational framework as well as the commitments such as planning, description of procedures as well as the distribution of resources. Millennium Hotel and Resorts are externally certified via authorized third party “Jacobs UK Limited in compliance of ISO 14064-3, 2006 standard of codes[8]. The competitor; Shangri La group joined hands with the “United National Global Compact” in 2011 and implemented 10 principles for the sustainable business. The principles involve:

• Principle 1: Companies must respect and promote in terms of safeguarding the rights of the human
• Principle 2: Organization should always ensure the fact that they are doing businesses ethically without violating the rights of the human.
• Principle 3: Companies must support the liberty of unions as well as identifying the right to concerted negotiating
• Principle 4: businesses must eliminate any activities regarding forced labour or obligatory labour.
• Principle 5: Organization must eliminate “child labour”
• Principle 6: Companies should always abolish the inequality or discrimination in terms of employability as well as profession.
• Principle 7: Organization must participate in activities of reasonable and preventive measures to address the environmental problems.
• Principle 8: Companies engaging in environmental protection initiatives
• Principle 9: Organization must support the usage of eco-friendly technologies
• Principle 10: Companies must never tolerate any corruption activities.

CSR:

The company is in compliance with the international practices involving “International Organization for Standardisation” (ISO) 31000; 2018, ISO 27001 “Information Security Management System”. The company is also in compliance with ISO 14064-3 that involves the company managed to decrease the carbon emission by 3% even after the opening of new hotels.

What is the type of CSR activities that it actually carries out?

The company heavily relies on code of conduct, “Group Human Rights Policy” as well as “Whistle blowing Policy” in managing the critical crimes such as human trafficking as well as slavery in the company. The human trafficking and slavery are the most important objectives in terms of contributing to the Corporate Social Responsibility[9].

What types of CSR activities do you expect from your company?

I believe these CSR activities that the company is focusing on should be more than enough for the sustainable business and in accordance with the ethical way of Corporate Social Responsibility.

Effectiveness of Corporate Social Responsibility (CSR) Implementation

As discussed above, that the purpose of the company is to become the world’s biggest and most prestigious hospitality property owner, with competent and unique “Asset Management skills” in diverse nations[10]. To achieve this goal, they are complying with various standards such as ISO 14064-3 that focuses on reducing the environmental carbon footprint. The company is having 81 % in CSR/ESG ranking; it also managed to decrease the carbon emission by 3% even after the opening of new hotels[11]. The company implemented “We Clean We Care We welcome” that was initially implemented to safeguard the employees as well as the customers. Since then, it has been launched and implemented in more than 145 hotels throughout 80 destinations within the umbrella of Millennium & Copthorne Hotels PLC[12]. I feel, the company is doing a great job in managing and handling the Corporate Social Responsibilities which they have towards environmental and people.

STAKEHOLDERS:

Marketing has always a crucial problem within the “hospitality sector” as well as a vital feature among hotel companies. E.g., Hilton Group created the brand under the name of “Hilton” for distinguishing the business facilities. On the flipside, Melia group competitor of Millennium Hotels and resorts originally established with the name of “Sold Melia” currently altered the name to “Melia Hotel International”. The crucial stakeholders are the customers, suppliers as well as the investors who invest in the various hospitality projects such as luxury waiting room for the customers to feel precious and special. Millennium Hotel and Resorts are externally certified via authorized third party “Jacobs UK Limited in compliance of ISO 14064-3, 2006 standard of codes[13]. The company is also in compliance with the international practices involving “International Organization for Standardisation” (ISO) 31000; 2018, ISO 27001 “Information Security Management System”. The company is also in compliance with ISO 14064-3 that involves the company managed to decrease the carbon emission by 3% even after the opening of new hotels[14]. Due to Covid-19, the company is bleeding the loyal and efficient employees. The company also stated that 910 employees of the company got affected and due to it, the stakeholders are questioning their investments[15].

Conclusion

Millennium Hotels and Resorts are doing extremely well in terms of Corporate Social Responsibilities except the impact from the pandemic that the company is facing. The company is forced to fire loyal and effective employees from the organization in order to sustain the business. The pandemic has led us to the spectrum where the lockdowns around various countries is leading to the generation of losses in the hospitality and food service sector. The company is also putting major emphasis on the abolishing the human trafficking and slavery in their business practices. It is resulting in the construction of trust in the various stakeholders towards the company.