Ethics and CSR Project PDF

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Ethics and CSRHART University Canada West BUSI 601: ETHICS, CSR, AND BUSINESS ENVIRONMENT Sylv*** December 6Table of ContentIntroduction................................................................................................... Introduction.......................................................

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Ethics and CSR

HART University Canada West BUSI 601: ETHICS, CSR, AND BUSINESS ENVIRONMENT Sylv*** December 6

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Table of Content Introduction………………………………………………………………………………………3 Companies profile product's scope of operations……………………………………………...4 Hillu Automated Retail Technologies…………………………………………………………..4 Ethical/CSR issues and unique challenges that HART faces………………………………….5 CSR issues………………………………………………………………………………...6 The company stakeholders and interests……………………………………………………….7 Customers………………………………………………………………………………..7 Suppliers…………………………………………………………………………………7 Academic and labs ……………………………………………………………………...8 Infrastructure organizations……………………………………………………………8 Aggregators and mobile network operators…………………………………………...8 Investors………………………………………………………………………………….8 Competitors………………………………………………………………………………9 How the company is managing ethical issues…………………………………………………..9 The Company's CSR strategy………………………………………………………………….10 CSR activities and stakeholders' interests…………………………………………….10 Position statement for the company's outlining the overall CSR strategy………………….12 The potential implication of the CSR strategy………………………………………………..13 Advantages of emerging CSR strategy………………………………………………..13 Disadvantages of emerging CSR strategy……………………………………………..14 Conclusion ……………………………………………………………………………………...15 References……………………………………………………………………………………….16

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Introduction The concept of Corporate Social Responsibility has evolved to be in necessity in every organization, and it has grown to be a vital component of any progressive company. CSR refers to the combination of the social, ecological, and economic concerns that impact people's lives in a business environment. The CSR concept describes how a company contributes to society and how an organization's obligations are responsibility extends to the rest of its environment. This paper will consider, as the chief executive officer and the business owner of the Hillu Automated Retail Technologies (HART), the dimensions of business ethics and corporate social responsibility of providing automated retail services. Further, we will discuss the challenges the company faces, analyzing and identifying the various stakeholders involved in the business, and discussing how the Hart currently manages ethical issues, Corporate Social Responsibility activities, and stakeholders' interests in practice. Later this paper, we will outline briefly a position statement for the company's management, explaining the general CSR strategy, the sorts of operations that fit inside our CSR strategy and the different activities excluded. Finally, we will go over the probable consequences of these approaches.

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Company's Profile/Product/Scope of Operations Hillu Automated Retail Technologies (HART) Our company's goal is to provide a seamless customer experience. HART's products aim to provide a seamless user experience while also improving operational efficiency. We employ cutting-edge technological measures to achieve a seamless fusion of digital and physical retailing experiences. Most of our services are offered via the HILLU mobile app. The mobile app is where customers sign up, shop, and scan consumer items before making payments for the majority of our services. The app improves the customer checkout experience by allowing customers to scan products themselves, either online or in any HART-registered local store. The company also provides customer fulfillment services, which allow employees to pick up items for customers from both registered and nearby stores without interfering with other customers. This has succeeded in eliminating long queues, the stress of going down to the store and has also improved safety, particularly during the Covid-19 pandemic. This has been one of the company's most significant innovations, as the majority of our fulfillment services are performed behind the scenes. The company is a medium-sized enterprise looking to expand into other parts of Canada. We are currently located at 625 Grandville St in Vancouver's Hudson Bay neighborhood. The company is 4,700 square feet in size, and it houses a retail advising unit, a product outlet, and a customer service center. We currently have offices in Vancouver and Surrey, and we intend to open a new location in Montreal, Quebec.

5 Ethical/CSR Issues and Unique Challenges that HART Faces In our modern age, ethical issues arise from every business. Some ethical issues unique to Hillu Automated Retail Technologies are highlighted below: Employment: Mechanical intelligence are already surpassing humans in a wide range of tasks, and this trend is projected to remain.. Our company has been able to reduce costs while improving product quality by utilizing artificial intelligence solutions through the Hillu app. Even though the Brookfield Institute estimated that up to 40% of current jobs could be automated within the next 10 to 20 years (Catherine, 2018). In more positive scenarios, automation will generate employment for people to fill. (Autor, 2015; Nokelainen, Nevalainen, & Niemi, 2018). Legal Liability: Because there are few examples to compare the current situation to, the question of legality may be exceptionally difficult to establish. There is little in the way of legal precedent or custom to which to resort. According to one proposal, because automated commerce has the potential to lower the risk of theft dramatically, the legal environment should support automation while safeguarding retailers from harsh liability repercussions. Automated Decision Making: Automated retailing processes can analyse and use large information more than humans can and at a much faster rate. As a result, automated decisions must follow reasonable ethical principles and norms. Lack of oversight and acceptance: Hart employs a blended platform, which mixes thirdparty and in-house technologies. As a result, there is usually some uncertainty regarding who is in charge of governance, big data usage, information security issues, and personally identifiable

6 information management. The truth is that it is everyone's responsibility. Most businesses, particularly those in the AI industry, take a collective responsibility approach. CSR ISSUES In any business, corporate social responsibility is essential. The major identifiable CSR issues coherent in our company are highlighted as follows Accountability: Hillu, an algorithmic retailing system tool, must be built to be as accurate as possible. It must be held accountable if it makes an error (Accountability) and must be able to explain its choices (Clarity), and even more so if they have a significant impact on quality of life and well-being. Community Investment: Community investment is concerned with how businesses manage their events and activities in order to have a positive impact both on society and the business. Our company's strategic community investment should outline how we will optimize its major benefits in the near and distant future, focusing on improving those that are most relevant to its primary business merchandise, services, staff, and consumers. Investment in Sustainable Technology: Automated retailing firms have begun to invest in low-carbon innovations in order to reduce carbon emissions in their operations. These systems may not be currently economically viable, but the emphasis is on the future. These technologies will assist businesses in lowering their operational costs. Companies have also begun to collaborate with suppliers to analyze enhancing the efficiency of the procurement and supply chain cycle.

7 Hart's Stakeholders and Interests Different stakeholders have an impact and bring a variety of interests and influence to the operations, service, and other activities in any organization. In this section, we will discuss the stakeholders who have an impact on our company on various levels. Oppose

Problematic  Investors  Infrastructure Organisation Support Low Priority  Academics and Labs

 Suppliers Least

Antaginistic  Competitors Supporters  Customers  Aggregators and Mobile Network Operators Most

Importance Customers: The company cannot exist without consumers, hence in almost all circumstances, the expectations of the consumer must come first. The client can always opt to relocate his company to a competitor. Therefore we must focus on product innovation, offer exceptional products, and provide a good return on investment. Suppliers: To operate the business, we must collaborate with our partners. Many people have crucial skills that we lack. Long-term relationships are desirable. However, these partners have individual goals, and most may be replaced if they fail or if a better partner accessible.

8 Academics and labs: Hart provides digital creative solutions in the retail industry through university and lab research. They are assisted and enabled by federal and private groups such as incubators, accelerators, hubs, and laboratories that can be administered by both sectors.

Infrastructure providers: Infrastructure organizations are concerned with providing the necessary hardware, firmware, and facilities for auto retailing companies to operate their best products. Digital payment gateways and clearing systems necessitate an agile and dependable facility to provide excellent services on various platforms around the world, indicating the difference between a missed opportunity and a won opportunity. Aggregators and mobile network operators: Mobile network operators are focused on delivering wireless voice and data transmission to their customers, whereas aggregators serve as integrators, connecting financial issuers to thirdparty platforms while providing technical expertise. Aggregators drive the business and are often at the forefront of designing and developing technologies to help portable systems. Investors: Investors must provide the necessary money for new firms and SMEs (small and medium-sized enterprises) for them to develop and flourish while simultaneously hoping to benefit from their own investments. Investors include angel investors, venture capital firms, private equity firms, and any other company that gives funds.

9 Competitors: As competition cuts both ways, a company shareholder might be a rival of another corporation. People who are rivals' stakeholders or have influence over them qualify as such as long as they have an interest in or influence over them. Managers' behavior improves as they know that only the fittest would survive in such marketplaces. As a consequence, product quality improves and consumer prices fall, as well as a larger or sustained market share and a larger return on shareholders' investments. How The Company is Managing Ethical Issues It is critical to follow up on every spot check and report to rapidly identify when unethical behavior is occurring in the business. When they are uncovered, the company responds swiftly and equitably. Hart has a predefined and well-publicized list of consequences, so there will be no argument over whether an activity should result in a reprimand, probation, or termination. The most important factor in all our mitigating strategies is consistency: follow your principles, encourage your staff to behave ethically, and respond to all unethical behaviors in a consistent manner. Employees and consumers will regard our business as accountable, trustworthy, and honest as a result, and they will be more willing to follow the regulations that will preserve this brand.

10 The Company's CSR strategy CSR activities and stakeholders' interests Hart has a number of social duties that may assist society and our stakeholders in a variety of ways. As the founder, I think that organizational gains should help not only the firm but also the economy as a whole. Green Consumerism Initiatives: We inform customers about the carbon impact of items throughout their full life cycle, from manufacturing to usage. This enables customers to evaluate substitute items not just on value but also on environmental footprint. Consumers are encouraged to recycle and reuse materials. This not only reduces carbon emissions but also boosts the company's corporate image. Local Community Support: Corporate Social Responsibility (CSR) is a key element of business for any significant firm, including Hart. Every year, Hart gives to more than 11 community development projects in British Columbia alone. Hart has granted more than CAD 1 million in state and neighborhood awards in Canada. This figure is anticipated to rise in the future years. Hart employees volunteer more than 340,000 hours in their local communities every year. Workplace Regulations: Another method we demonstrate social responsibility to our stakeholders is by implementing new workplace labor policies that reinforce and widen their rights, making them feel respected and cared for. Stipends for health and fitness, inclusion and diversity efforts, time off for specific religious holidays, and extended parental leave are some of our CSR workplace practices.

11 Hillu Automated Retail Technologies conducts these CSR practices as an initial CSR activity, and if the need arises to modify, improve, or engage in other corporate social responsibility activities, the company will be more than willing to adopt as long as it serves both the organization and the public. Based on the CSR initiatives listed above, let us briefly discuss how and why our stakeholders are interested in these activities. Green Consumerism Initiatives: Green consumerism is a popular subject in today's modern world. More specifically, these behaviors are why Hart encourages corporate social responsibility. Our stakeholders, particularly customers and suppliers, want sources that encourage environmental sustainability while boosting CSR by investing in and utilizing renewable energy sources, as well as promoting recycling and composting at the workplace and in the community. Through Physical-Digital technical breakthroughs, Hart delivers a seamless customer buying experience. While we're on the issue of Physical-Digital technological advancements, converting in-person approaches to virtual ones minimizes environmental impact (and business expenses). Online shopping reduces energy consumption and carbon emissions through lowering transportation expenses, energy consumption at in-person facilities, and print use and dissemination. Local Community Support: Contribute to the community by giving and looking for new job opportunities. Volunteering initiatives have benefited both the company's brand and the local community significantly. Volunteering at work makes 90 percent of our workers feel better about the organization and helps them build people and collaboration skills. Volunteering and contributing to entities and members of the public has assisted the firm in engaging with the local community, demonstrating to the community that we care, and building trust with the

12 community. Investors and collaborating organizations are interested in the increased exposure and favorable effects on the company's brand that these initiatives provide. Workplace Regulations: Our most significant resource is our workforce, and improved regulations may enhance their quality of life both in and out of the office. Hart creates a company culture that workers can support by implementing new workplace regulations that improve general well-being.

Position Statement For Hart's Management Outlining The Overall CSR Strategy As the founder and Chief executive officer of Hart, I am responsible for developing and implementing the CSR strategy so that we can assess the sustainability of the CSR activities carried out via us. There are solutions accessible, but we could incorporate the new sustainability strategy into our business. The corporation should be more concerned with the economy, ethics, and the environment. While maintaining Structures containing the surrounding environment, the organization may satisfy all specified stakeholders and fulfill their interests. Through this method, the firm may be open to its stakeholders, with no hidden facts or work ethics around our organization (transparency). Management can improve workers' work-life balance and establish a safe and comfortable workplace across all stakeholders. The management of Hillu Automated Retail Technologies assumes the following positions in designing and implementing the company's CSR strategies: 1. Creating a plan based on our company's fundamental capabilities. 2. Identifying issues that are important to our customers 3. Creating CSR programs that are a source of pride for our staff.

13 4. Calculating the return on investment (ROI) of our CSR activities for the C-suite and investors. 5. Broadening the company's understanding of CSR. 6. Ready to respond quickly to current community and social forces.

Potential Implications of the CSR Strategy. As previously said, our firm has a CSR policy that attempts to help both society and the corporation through green consumerism, community donations and volunteering, and workplace standards. There are distinct benefits and downsides to using these strategies. Let us examine them. Advantages of Hart's CSR Strategies Ethical business profile: Investing in CSR has aided in the development of a public image as a responsible firm, which has resulted in a competitive advantage. Businesses typically prefer suppliers who have ethical policies since this might reflect on how their consumers see them. Some clients not only desire to do business with responsible firms; they need it. Cost savings: We can benefit the environment while also saving money by decreasing resource consumption, waste, and pollution. We may even be able to reduce your electricity costs and save your company money with a few simple measures.

14 Recruiting and retaining skilled employees: Being an ethical, successful organization may make it easy to recruit new staff or attract new ones. Employees might be motivated to stay longer, reducing the costs and trouble of recruitment. Other advantages include higher revenue and client retention, reductions in operating expenses, and improved financial performance. Disadvantages of Hart's CSR Strategy Costs of implementation: Hart's primary CSR disadvantage now is the expense of implementation. Major firms can afford to commit a budget to CSR reporting, but this is not always the case, especially now that we are contemplating extending to other regions of Canada. We may utilize media strategies to convey our policies to the local community and consumers. However, monitoring transactions take time and may need the hiring of more people, which the company may not be able to finance. Motive Conflicts: We have a professional obligation to our shareholders, which CSR strongly opposes; this is the responsibility of executives to maximize shareholder value. An executive who foregoes money in favor of societal advantages should expect to lose his position and be replaced by anybody who prioritizes profits.

15 Conclusion CSR is an important part of every firm, and it has the potential to affect the lives and thought patterns of many stakeholders profoundly. Institutions that manage and serve the public and its residents must be more stringent and forthright in delivering the most value to all stakeholders. Sustainability may add significant benefits to society while also improving an organization's reputation and brand. However, this should not be the organization's primary goal or desire. However, regardless of whether it improves and gives good reputations, the fundamental goal must deliver the best social service to all parties involved in the business. Various disagreements arise on the veracity of the success rate of Corporate Social Responsibility efforts. As a firm, companies must actively participate in CSR efforts. This is because, given the stakeholder's present level of knowledge, they are more likely to want a corporation that delivers long-term growth plans for society. As previously said, the fundamental drawback of CSR activities is the expense and the many...