Abstract
Company social responsibility has come up as a major and significant theme within the world business circles. This has made it to become a mainstream activity that is related to businesses. It has been noted that corporate social responsibility plays a major role in the determination of the relationships that exist between the various stakeholders of a particular organization. This paper seeks to look into the role played by the corporate social responsibility in the marketing and promotion of a new perfume in Vietnam. The paper analyses the various roles played by the programs initiated under the company social responsibility program in the promotion of the company’s products. The paper in addition, looks at the importance on society played by the corporate social responsibility, and its effect on the wider consumer target. The conclusions as well as the implications of this practice are also considered.
Company Social Responsibility in Vietnam
Company Social Responsibility refers to acts of responsibility by a company that takes a candid view at the impacts of the decisions reached at by an organization. These are usually channeled towards the society and the society’s environment through the expression and application of ethical and transparent behavior. This norm is usually consistent with the welfare as well as sustainable development of the society. Additionally it takes into account the stakeholder’s expectation as well the upholding of the existent laws and international behavior norms. It is normally applied and integrated throughout the organization. The main aim of this exercise is to help the company in its mission as well as help in the guidance of the company’s principles and its norms that it stands for. Company social responsibility is used as a means of returning back to the society rather than just reaping of profits for the shareholders. This can be expressed in a number of ways such as proper treatment of the employees, maintenance and preservation of the environment as well as promotion and enhancement of the cultural practices of the consumers that they interact with.
Methodology
In analyzing the role of social corporate responsibility in Vietnam , the paper considers the ups and downs of the exercise, including the advantages of the social corporate responsibility on the Vietnamese society as well as the perfume manufacturing firm. To begin with, the company would engage in philanthropic activities such as donations to charity, conducting mass sanitation programs within the Vietnamese villages. The company would also be involved in several environmental protection and preservation programs that could be initiated within the Vietnamese society. These would serve as means of introducing the product into the Vietnamese society. It would make the people of Vietnam villages aware of the products that are being sold. Additionally it would introduce the product into the market. Regardless of the introduction of these activities in the Vietnamese market there was remarkable challenge that faced the social corporate responsibility process. To begin with there was the challenge of negativity by the major shareholders who felt that the process was an unprecedented budget and that the funds that were utilized would have been well put into the marketing processes to promote the perfume in the Vietnamese territory. These trends in conducting this analysis proved to have some consequential
Results
There were several results that came about from the Company Social Responsibility program that the company had undertaken in Vietnam. To begin with, there was a higher level of anticipation as well as management in an always expanding field of risk. The higher anticipation by the consumers promoted the product even before the roll out of the perfumes into the market. Additionally, there was an increased ability in the power to be able to recruit, sustain as well as train staff from the Vietnam villages. With the Company Social Responsibility program set, several members of the society were selected as members of staff after being made familiar with the product. the CSR process also promoted innovativeness and creativity among the Vietnamese . there was also enhanced operational costs as well as efficient management costs. In addition to that this program has also led to the increased ability of attracting and the building of an efficient supply chain of relationships.
Conclusions
Economist Intelligence Unit (2005). The importance of corporate responsibility. Retrieved from : http://graphics.eiu.com/files/ad_pdfs/eiuOracle_CorporateResponsibility_WP.pdf/
