SN Essays

SN Essays SN Essay SN Essay Scottish Newcastle is a public limited company, engaged in the manufacturing and selling of alcoholic beverages. The company has a great responsibility both as a corporate and as a part of the society. Since the company is very much a part of the society, the company should return to the society what it has gained from it. The company advocates the policy of safe drinking and promotes its brands with emphasis on drinking responsibly. The company is all set to move forward with new strategies for the years ahead. SN has a five fold strategy for the future: An integrated approach towards Corporate Responsibility within the group Taking the help of external consultants to ensure better understanding and implementation of Corporate Responsibility Policies. Developing the Group-wide indicators, with emphasis on the Global Reporting Initiative framework. Involving the community in various activities and implementation of the London Benchmarking Group model. Reviewing the joint ventures basis the principles of the Global Compact. Policy Evaluation: An integrated approach towards Corporate Social Responsibility within the group will help SN have a holistic approach towards the subject and globally implement the same policies. This will help the group to project its approach towards Corporate Social Responsibility globally across all forums. Taking help from external consultants will help the group frame a Corporate Social Responsibility framework which will help the company address many or most of the Corporate Social Responsibilities that are expected from the company. External Consultants have the experience of working with many other large global firms and hiring one of the experienced consultancy firms will help the company implement many of the best practices of Corporate Social Responsibility. Â  Developing the group-wise indicators is a very positive step in measuring the success of the policies implemented by the group. In case of an internal or external audit, evaluation can be made as to how well the Corporate Social Responsibility policies adopted by the group have been implemented. Involving community groups in Corporate Social Responsibility initiatives can yield better results. A review of the Joint Venture initiatives can help the company get an understanding of how well the policies have been implemented. Following the above principles will help the group achieve it Corporate Social Responsibility goals. Financial Impact of Implementing Policies SN has charted a corporate responsibility path which may impact the financials of the company. Factors such as Transportation of the products in vehicles which don’t emit greenhouse gases, managing the supply chain and ensuring that the company’s suppliers also adhere to the corporate social responsibility are important. There are various Corporate Social Responsibility factors which may have a financial impact on the company’s balance sheet. For example if the company is opening a new plant the strict environmental norms that are applicable in that country may have a financial impact on the company’s financials. SN may take an initiative for children’s education and women empowerment in any of the locations where it has its plant’s. Along with this the social issues that are being addressed in various countries will also involve substantial financial investment for the company. But, the company has involved the trainees recruited under the International Management Trainee program to support both financial and employee time. Every organization large and medium has budgets allocated for their Social Responsibility initiatives. These budgets are calculated in a way such that they have minimal impact on the profitability of the company. Moreover the company is using methods like waste management; recycling, saving water, involving the community and making long term contacts and joint ventures, which will not impact the company’s financially on a long term basis. Hence, a company of SN’s stature may not have any significant financial impact on its profitability because of these factors.