Corporate Social Responsibility And Its Impact On The...

There have been many changes in the way businesses are managed today than it was just a few years ago. Not too long ago, it used to be which product is the cheapest or which one is the most valuable, while nowadays these are not the important criteria in the product purchase process and there are many new factors that consumers consider. Many corporations understood these changes in society that evolved the Corporate Social Responsibility concept and its implications on the companies’ actions. New Balance, one of the biggest footwear companies in the world, was one of the first companies that saw the hidden potential in applying this concept. Despite the applications of social responsibility in the company’s daily activities, it faced difficulties in receiving recognition for its actions because of wrong actions that the company had made in regard of active communication with its stakeholders, difficulty in defining organizational understanding of what social responsibi lity is and more. In this case, I will present and analyze the actions that New Balance has to perform in order to have stronger and more successful CSR policy in the company. New Balance was founded in the early twentieth century by a waiter named William J. Riley and in 1972 it was bought by its current owners James and Anna Davis. As the owners of the company they managed to lead it to the fourth biggest brand in the shoe industry today. 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