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Csr Report For Belk's Dept. Store

2101 words - 9 pages

Review of the Corporate Social Responsibility Wiki completed by Torrance Canty that focuses on the clothing store company Belk’s and their stakeholders. Mr. Canty’s report defines the company stakeholders, their organizational vision, the value Belk’s has added to the company over the years they have been in business, what relationships Belk’s has encountered, how management manages their corporate responsibility, the companies investments and overall sustainability. Although Belk’s has done an exemplary job at resolving their Corporate Social Responsibility (CSR) issues, creating positive action plans to ensure the company’s future CSR sustainability and involved their employee as well as ...view middle of the document...

Torrance Canty noted in his Value Added Impacts Wiki posting that Belk’s has built a loyal customer base. Mr. Canty continues to say, if Belk’s decided not to follow their own core values many customers would shop elsewhere. Executing a customer survey could help identify what is it about Belk’s that is making the customers remain loyal and where can improvements be made with those who are more of the every now and then shoppers of Belk’s. Focusing the survey on those customers who are not loyal to Belk’s and how much that customer knows about the company’s core values, what that customer might need or want as a retail customer could result in the expansion of the customer stakeholders.
Belk’s has gone the extra mile to enhance their Corporate Social Responsibility by implementing a guide to their daily operational decisions which provide the framework for their core values. Those values include, selling the highest quality product available, satisfying their customers, creating wealth through profits and growth, caring about the communities in which they do business and creating ongoing partnerships with their suppliers (FYI Annual Report, 2012). Most of this information is shared through the company’s website and a few blog sites here and there; however, applying a company Face Book page or Twitter page where the team members can share why they love Belk’s and what their local store is doing for their local community. Social media is becoming more and more the rave with businesses and how they are interacting within their community.
As with any organization the surrounding community can be a vital component to the company’s overall success. The community is now forcing corporations to make ethical decisions in order to avoid having a negative reputation. “Companies that don’t pay attention to their ethical responsibilities are more likely to stumble into legal troubles, such as mass corruption or accounting fraud scandals” (knowledge@wharton, 2012). Corporate Social Responsibilities can entice consumers to purchase your product instead of their competitors in an effort to help with the worthy cause. It can also be a determining factor within the community in which a company is looking to expand into. If the community also believes in your cause, the likely hood of your company opening a store within that community is greater (DiFrisco, 2009-2011). In review of the Wiki posting created by Torrance Canty he describes the actions taken by Belk’s to involve their employees and to take responsibility in the decisions made by the company. Belk’s and their employees donate to the United Way, the American Heart Association and the Susan G. Komen Foundation. Implementing an internal company blog could help their employees gain a better understanding of how other employees are benefiting from the different non-profit programs Belk’s is donating to. This blog could also be used to post quick “how to” ideas. Something as simple as “how to stack...

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