In your reading this week, Chandler introduces you to the idea of implementation of CSR particularly the concept of the triple bottom line or the idea of looking at more than just financial returns when implementing a CSR strategy. To me, implementation means the day-to-day decisions, processes, practices and actions that ensure that a company carries out its CSR initiatives, thereby delivering on its CSR strategy. It is through the process of implementation that a company should realize the value of its CSR strategy and initiatives—delivering on efficiencies, generating value, realizing new business opportunities and minimizing risks. You saw what good implementation could do when you studied Unilever.
There are a number of major obstacles that hinder the implementation of good CSR polices and practices in firms. Major obstacles include:
Lack of awareness of CSR.
Reward structures for senior executives.
Lack of human resources that can be assigned to CSR practices.
Diverse requirements from stakeholders.
Costs and the time lag between implementing a CSR idea and seeing it turn a profit for the firm.
Management’s perceptions that they cannot do business and make profits while adhering to CSR concepts.
Which, if any, of these is most influential in preventing CSR from being implemented in the place where you work or have worked and why? Or is there one that you can think of that is not on the list? Or are there no obstacles where you work or have worked and why?