Canadian Tire Case Study
Canadian Tire has a commitment to being a responsible corporate citizen and this has not gone unnoticed. They have shown involvement in the community by launching the Canadian Tire Jumpstart program in 2005. The program strives to give children the opportunity to play sports, and since it has been launched over 440, 000 children have been given these opportunities.
Canadian Tire has also shown involvement in environmental protection and business sustainability. They have been innovating their products and services so that they can eliminate unnecessary packaging while sending zero waste to landfills. In additional to this, they have demonstrated economic responsibility. They ensure responsible operations, like meeting rules of law and regulations. …show more content…
CSR strengthens brand loyalty. Consumers that value CSR will view a business more positively, and as a result their positive opinions will cause them to be more loyal to the brand. These same consumers are also likely to share these positive experiences and opinions of the company through word of mouth; an effective form of advertising. Part of being CSR is ensuring the well-being of workers. If the workers and staff are happy and safe, they are more likely to increase productivity. Being CSR also forms better public relations, particularly if it believed to be sincere. When a company is CSR they have a competitive advantage. If the opposite is true and the competition is CSR, being CSR can help them to stay competitive, instead of being at a disadvantage. These benefits, however, do not come without their drawbacks. It is costly to participate in CSR, both money and effort wise. Becoming CSR is like an investment, and not all companies have the necessary liquidity to do so. The benefits of CSR also tend to come gradually. As a result, for some companies, these long-term benefits are not desirable because they want immediate results. Without the necessary time, money and patience, participating in CSR could actually harm a business. Being CSR may also deviate from the focus of a business. CSR initiatives must be carefully planned and executed to ensure positive results and good public relations. Even for companies who can afford to be CSR, like Walmart, could face more drawbacks than benefits. The structure of the business and its profits are essentially founded on behaving socially
Canadian Tire has also shown involvement in environmental protection and business sustainability. They have been innovating their products and services so that they can eliminate unnecessary packaging while sending zero waste to landfills. In additional to this, they have demonstrated economic responsibility. They ensure responsible operations, like meeting rules of law and regulations. …show more content…
CSR strengthens brand loyalty. Consumers that value CSR will view a business more positively, and as a result their positive opinions will cause them to be more loyal to the brand. These same consumers are also likely to share these positive experiences and opinions of the company through word of mouth; an effective form of advertising. Part of being CSR is ensuring the well-being of workers. If the workers and staff are happy and safe, they are more likely to increase productivity. Being CSR also forms better public relations, particularly if it believed to be sincere. When a company is CSR they have a competitive advantage. If the opposite is true and the competition is CSR, being CSR can help them to stay competitive, instead of being at a disadvantage. These benefits, however, do not come without their drawbacks. It is costly to participate in CSR, both money and effort wise. Becoming CSR is like an investment, and not all companies have the necessary liquidity to do so. The benefits of CSR also tend to come gradually. As a result, for some companies, these long-term benefits are not desirable because they want immediate results. Without the necessary time, money and patience, participating in CSR could actually harm a business. Being CSR may also deviate from the focus of a business. CSR initiatives must be carefully planned and executed to ensure positive results and good public relations. Even for companies who can afford to be CSR, like Walmart, could face more drawbacks than benefits. The structure of the business and its profits are essentially founded on behaving socially