The Entrepreneur’s Source Company believes in social enterprise. The company is an enterprise based in New Hemisphere whose ideologies revolve around creating self employment. This is because it is a non-profit organization whose major concern is to improve human and environmental well being. The Entrepreneur’s Source Company has gained the trust within the country due to the services it offers the society (Chand, 2006). The enterprise provides education, consultation and guidelines to make people get jobs and be self-employed. The company has employed new and unique profiling systems to enable it assess a client goals, expectations and needs. The management of The Entrepreneur’s Source also saw it best to adopt a system of Corporate Social Responsibility (CSR) to ensure that organizational goals and objectives are followed and implemented to the letter.
Corporate Social Responsibility is a self-regulating mechanism that monitors and ensures that a business or an organization follows the law, international norms and operates according to the ethical standards required. The Entrepreneur’s Source is committed to Corporate Social Responsibility. This is because it believes that it has what it take to focus and improve the standards of its stakeholders rather than focusing much on its shareholders. The CSR commitments that the company has adopted include excellence in product and services production, action for a healthy environment, creating employment to the unemployed and minimizing environmental footprints as much as possible.
Triple bottom line model measures the standards of the company’s performance. The rate of unemployed youth at the New Hemisphere is rising too fast. Latest polls show an increment of 7% of unemployed youth this year - up from 3%. Immediate action needs to be taken before most youth drown in trash (Chand, 2007). If no one addresses the issue, the problem will degenerate into a crisis. This problem probed the management team of The Entrepreneur’s Source to try and give what they believe they exist to do.
The Entrepreneur’s Source Company offers opportunities for the unemployed people, and educates clients on how to create job opportunities. As discussed earlier, an audit finding shows that the rate of unemployment among the youth is increasing. These findings give basis and recommendations on what should be done to resolve the encroaching problem (Aupperle, Carroll & Hatfield, 2007).
Risks must be taken by any organization (Aupperle, Carroll & Hatfield, 2007). To minimize them from happening, risk assessment must be done. To achieve this, the risk management should identity hazards, make decisions on who might get harmed and how, perform risk evolutions and precautionary measures, recording findings and making sure they are implemented and finally reviewing and updating assessments where necessary. Managing risks ensures that the company adheres to its CSR policy. This ensures that the company provides employment, educate and support the community as stated by the CSR codes of operation.
The Entrepreneur’s Source will then have to come up with corrective action through analyzing results obtained from internal auditing. Corrective action will enable the company to improve organizations process and also eliminate undesirable situations. Effective corrective and preventive actions can be achieved if systematic investigation on the root causes of failures is addressed and curbed.
Organizations that believe they exist to benefit and bring changes to the society like The Entrepreneur’s Sources have to embrace corporate social responsibility. This balance the equation formed by the triple bottom line which is nothing but just the sum of revenue minus expense which either result to a loss or a profit. The latter is the bottom line as per the statement of revenue and expenses.
References
Aupperle, K. E., Carroll A. B., & Hatfield J. D. (2007). An Empirical Examination of the
Relationship between Corporate Social Responsibility and Profitability. Academy of
Management Journal 28(2), 446–463.
Chand M (2006). The Relationship between Corporate Social Performance and Corporate
Financial Performance: Industry Type as a Boundary Condition. (2nd Ed.) New York. The Business Daily Publishers.
