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    Digested Journal#7

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    Jay Raymond Delfin
    The document discusses corporate social responsibility (CSR) initiatives during the COVID-19 pandemic in Greece. It notes that while many companies implemented urgent CSR programs to support employees and communities, the pandemic also negatively impacted businesses financially by lowering demand. The study examines whether CSR responses were more strategic or tactical in nature. It recommends that companies develop a "critical CSR" approach by incorporating lessons learned from the pandemic response. This would allow CSR policies to be both flexible and resilient during future crises.

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    Digested Journal#7

    Uploaded by

    Jay Raymond Delfin
    19 views4 pages
    The document discusses corporate social responsibility (CSR) initiatives during the COVID-19 pandemic in Greece. It notes that while many companies implemented urgent CSR programs to support employees and communities, the pandemic also negatively impacted businesses financially by lowering demand. The study examines whether CSR responses were more strategic or tactical in nature. It recommends that companies develop a "critical CSR" approach by incorporating lessons learned from the pandemic response. This would allow CSR policies to be both flexible and resilient during future crises.

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    DIGESTED JOURNAL#7

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    The document discusses corporate social responsibility (CSR) initiatives during the COVID-19 pandemic in Greece. It notes that while many companies implemented urgent CSR programs to support employees and communities, the pandemic also negatively impacted businesses financially by lowering demand. The study examines whether CSR responses were more strategic or tactical in nature. It recommends that companies develop a "critical CSR" approach by incorporating lessons learned from the pandemic response. This would allow CSR policies to be both flexible and resilient during future crises.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views4 pages

    Digested Journal#7

    Uploaded by

    Jay Raymond Delfin
    The document discusses corporate social responsibility (CSR) initiatives during the COVID-19 pandemic in Greece. It notes that while many companies implemented urgent CSR programs to support employees and communities, the pandemic also negatively impacted businesses financially by lowering demand. The study examines whether CSR responses were more strategic or tactical in nature. It recommends that companies develop a "critical CSR" approach by incorporating lessons learned from the pandemic response. This would allow CSR policies to be both flexible and resilient during future crises.

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    © All Rights Reserved
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    of 4

    Case #7: NOVEL CSR & NOVEL CORONAVIRUS: CORPORATE SOCIAL

    RESPONSIBILITY INSIDE THE FRAME OF CORONAVIRUS PANDEMIC IN GREECE

    Background of the Case:

    As humanity faces challenges in this unprecedented and unusual emergence of


    pandemic, corporations take into consideration the social and environmental concerns
    in their decision making. The coronavirus has threatened both humanity and the world
    economy. It has call for firms to express their social sensitivity and implement urgent
    CSR programs for their employees and society. Numerous businesses have declared
    urgent initiatives to support their workers and their communities. However, as the
    pandemic records high fatality rate, it lowers demands of goods and services which
    greatly affects corporations financially.
    A CSR should have an equal sustainability principle in terms of economic effect,
    society and natural environment. Moreover, CSR activities should be designed with high
    regards on legality and statutes. Large multinational firms ought to develop a CSR
    strategy that articulates their sustainable ideals within the context of globalization fit to
    the country’s or nation’s norms.
    The study examined whether CSR initiatives in response to the pandemic can be
    seen as strategical or tactical CSR. Strategic CSR is the incorporation of a holistic CSR
    perspective within a firm’s strategic planning and core operations so that the firm is
    managed in the interests of a broad set of stakeholders to achieve maximum economic
    and social value over the medium to long term. Tactical CSR refers to short term
    management decisions about CSR programs of limited resources and minimal impact to
    firm’s core operations (Werther & Chandler, 2006). The study notes the emergence of a
    new category of CSR known as Critical CSR, which combines elements of tactical and
    strategical CSR.
    The possible emergence of another unscheduled phenomenon within an
    unspecified duration is possible. Pre-pandemic CSR policies were not designed to
    address the various challenges brought by coronavirus. Given the worldwide health
    emergency, a plethora of tactical CSR activities were developed for short-term goals
    and configuring pre-pandemic CSR policies.
    Statement of the Problem:
    1. Should companies borrow useful elements from their urgent CSR activities
    and incorporate them to their usual CSR policy?
    2. What are the lessons to be learned from their reaction to the pandemic?
    3. How will the company improve their CSR concepts?

    SWOT Analysis:
    STRENGTHS: WEAKNESSES:
    1. Several CSR actions has been 1. Decrease in demands from
    implemented which may be useful secondary and tertiary sectors.
    for comparison. 2. CSR design enhancements
    2. Faster execution of improvements requires increase in resources
    3. Cooperation among big countries
    and coalition of states for health
    and financial recovery

    OPPORTUNITIES: THREATS:
    1. CSR actions may be used as 1. CSR initiatives are dependent with
    prototype of other companies country’s statutes and laws which
    which increases level of publicity. are susceptible to change
    2. CSR actions are adhered towards 2. Different implementation of health
    the benefit of stakeholders which systems per nation
    may result to brand loyalty 3. Worldwide health and financial
    crisis
    4. Corporations worked on to be
    competitive rather than
    cooperative to stay afloat
    PROS and CONS to Alternative Action:
    ALTERNATIVE ACTION PROS CONS
    Implement innovative  Applicability to the  Requires research
    tactical CSR actions current issue at & development per
    based on current issues hand issue encountered
     Flexibility of which may affect
    activities timeliness
     Does not  Short-term
    necessarily need  No correlation with
    long-term core activities
    commitment of
    resources and
    employees

    Follow CSR actions of  Faster  May not be


    other companies as implementation remarkable to
    prototype  Activity design is stakeholders as this
    available, hence, no does not promote
    deeper research is own identity
    needed
    Implement own Critical  More idiosyncratic  Critical CSR policy
    CSR to the firm may not be flexible
     Cheaper since no to the current issue
    repetitive research if not well
    is needed with less established
    changes on the
    current design
     CSR activity will be
    aligned with
    organization’s
    purpose
    Recommendation/s:
    In developing CSR, among the considerations should be time, resources,
    correlation with core activities and impact to stakeholders. Strategic CSR are long-term
    and requires long-term commitment and involvement of resources. On the other hand,
    Tactical CSR activities are short-term, may not generally correlate with the
    organization’s core activities, and may not provide overall impact to the organization’s
    structure.
    There are various challenges and crises that companies are facing and yet to
    face. CSR activities developed during the pandemic were both tactical and strategic.
    The pandemic phenomenon, which is a complicated one, has taught corporations to
    develop a more universal category of CSR, which is a Critical CSR. With the lessons of
    the pandemic, it is recommended that corporations should implement Critical CSR
    policies which enable them to be flexible and resilient to forthcoming turbulent
    conditions.

    References:

    Gravelle JG and Marples DJ. (2021). Fiscal Policy and Recovery from the COVID-19
    Recession (p.23). Congressional Research Service.
    https://crsreports.congress.gov/product/pdf/R/R46460
    Mc Williams, A., & Siegel, D. S. (2011). Creating and capturing value: Strategic
    corporate social responsibility, resource-based theory, and sustainable
    competitive advantage. Journal of Management, 37(5), 1480-1495.
    Sethi, S.P. (1979). A conceptual framework for environmental analysis of social issues
    and evaluation of business response patterns. Academy of Management
    Review, 4, 63-74

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