According to Bethel University (2017), corporate social responsibility(CSR) is the accountability that Nike or any corporation must create prosperity while protecting and benefiting society. Therefore, Nike does have a social responsibility to the contract employees who manufacture Nike products in foreign factories.
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Nike’s Corporate Social Responsibility and Sustainability program resonates with the company’s core belief that “sports can change the world for the better.” Nike leverages the unifying power of sports to promote its CSR agenda in three key areas: diversity and inclusion, community investment, and environmental
The pyramid of corporate social responsibility is a theoretical concept that implies that corporate social responsibility is presented by four dimensions: economic, legal, ethical, and philanthropic responsibility.
Reduce overall waste in the Nike operations and eliminate footwear manufacturing waste to landfill or incineration. Reducing water use in the Nike supply chain by adopting new and innovative approaches. Achieve at least a 20% reduction in freshwater use in textile dyeing and finishing. Achieve Global Pay Equity.
What is Nike committing to sustainability CSR?
As a signatory, Nike shares this ambition and commits to pursuing a target of 30% GHG emission reduction by 2030 and a commitment to analyze and set a decarbonization pathway for the fashion industry drawing on methodologies from the Science-Based Targets Initiative.
How did Nike embraced CSR?
In 2012, Nike partnered with DyeCoo Textile Systems, a Dutch startup, and adopted their new carbon-based dyeing process that dyes garments without using water or chemicals. Without water, the process also reduces its energy use by 60 percent since the garment doesn’t have to be dried. It also dyes 40 percent faster.
What is Nike doing to meet its economic responsibility?
Nike uses some eco-friendly materials, including organic and recycled cotton and polyester, and has water reduction initiatives in its supply chain. The brand has also set a deadline to eliminate hazardous chemicals by 2025 and the good news is that it is on track to meet its target.
Corporate social responsibility is traditionally broken into four categories: environmental, philanthropic, ethical, and economic responsibility.
Ethical and philanthropic responsibilities result from a society’s expectations toward business. Firm effects attribute firm performance to the actions managers take within a chosen industry.
What is the order of pyramid of responsibility?
The first and most obvious is the economic responsibility to be profitable. The second is the legal responsibility to obey the laws set forth by society. The third, which is closely linked to the second, is the ethical responsibility. That is to do what is right even when business is not compelled to do so by law.
What is Nike’s corporate governance?
NIKE’s corporate governance reflects the company’s commitment to monitor the effectiveness of policy and decision-making both at the Board of Directors and executive level. In this context, NIKE approaches governance with a view to enhancing long-term shareholder value.
What is Nike’s ESG rating?
An 8 of 10 makes Nike an ESG top performer
Nike scores an 8/10 on our ESG checklist. This is a company that has lofty goals and is intentionally striving to meet them, which we admire.
Corporate Social Responsibility Examples: The Good
- Reducing carbon footprint.
- Engaging in charity work.
- Purchasing fair trade products.
- Investing in environmentally conscious businesses.
- Getting involved in volunteer work.
- Improving labour policies.
Do you think Nike has a bigger responsibility than other companies because of its size and position as market leader?
Yes, Nike has a bigger responsibility than other companies as a market leader because the company and the brand are known and famous throughout the world. Aside from that, the founder of Nike which is Phil Knight is known to be one of the richest men in the United States.
How is Nike committed to sustainability?
We’re able to reuse more than 90% of the waste from Air manufacturing, often turning it into new Air bags. This ensures all Nike Air soles are made with at least 50% recycled material. Small changes pave the way to achieve big aims.
What is Nike ethical policy?
NIKE’s good name and reputation result in large part from our collective actions. That means the work-related activities of every employee must reflect standards of honesty, loyalty, trustworthiness, fairness, concern for others and accountability.
Why did Nike fail to address Corporate Social Responsibility early on?
1. Why did Nike fail to address corporate social responsibility early on? Nike fail to address Corporate Social Responsibility early on because to be remain competitive, keep on producing in low cost and increasing profit, Nike footwear factory has moved to the other country with low costs labor.
The key idea behind CSR is for corporations to pursue other pro-social objectives, in addition to maximizing profits. Examples of common CSR objectives include minimizing environmental externalities, promoting volunteerism among company employees, and donating to charity.
The main difference between social responsibility and corporate social responsibility is that corporate social responsibility concerns obligation of business companies to ensure their business benefit the society as well as the environment while social responsibility is the general way of a person(s) being responsible
Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders.
How many dimensions of CSR are defined by Caroll?
Carroll’s Four Dimensions of Corporate Responsibility. Presented first in 1979 and again in 1991, Carroll identified four dimensions of Corporate Social Responsibility that are truly impactful in customers’ eyes.