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Hi, can you please help me work out the following questions base on the case study below:
What are the problems in this case study that relate to Corporate Social Responsibility (CSR)?
What are possible alternative innovative solutions for the problems? (i.e. new innovations, strategies, business models etc)
What are possible recommendations for the solutions to the problems?
What business management theories/models etc, could be used to identify, assess, implement or monitor the problems identified?
Please remember that all these questions are to be answered in the context of Corporate Social Responsibility
CASE STUDY:
Sydney Travel Group (STG) is a major player in the international travel marketing space. They have been growing steadily over the past decade through traditional brick and mortar stores with basic online marketing and joint venture strategies. The company turns over 10 billion US per year. They have also grown their baseline value (known as: Total Transaction Value or TTV) by acquiring companies on capabilities. Two years ago they saw an alarming trend. While their transactions went up, the overall sales in some key competitors went down. The CEO Danielle Harding, was at first not concerned because the TTV was up. The puzzle became a real concern when this year the TTV went down by 15% followed sharply by a decline in the share price. An emergency board meeting was called asking for solutions.
A decision was made that the company had to innovate at any cost. After the board meeting Danielle briefed your management consultancy team:
“We have had a good look at our business. We know that the industry is not going to turnaround anytime soon. So we have decided that we must innovate. We have highlighted our one of our key problems as corporate social responsibility. We are dedicating one million dollars over the next six months for proposals to innovate our business. We are looking to drive our TTV through four key areas: New Business Models and/or New Strategies, Better ways of working that are more efficient, improving how we communicate and our workplace culture and industry leadership in sustainability and CSR. Our research showed us that our core business is strong but sales are down. We have been very slow to move into the internet market. Our strategy of working stores is working well but not as well as we would like. Our employee barometer survey showed us that our people leave the organization all the time. Our employee turnover is high. The same survey revealed that many external people, potential customers, were also moving away from STG.
NOTE: we expect you to draw on theory to solve this problem
Expert Answer
Company has always been ignoring the market change and always focus on total transaction value. Total transaction value company has always been over confident about their future revenues and never had any kind of strategic implementation towards the future progress of the company. When a company is total transaction value declined by 15%, companies employees as well as board of directors for asked to gather in a meeting for deciding the solution for the companies decreasing market share.
For creating a better external brand image company can follow these steps.
- Better advertisement
International travel market is totally based on the advertisement. By improving the advertisement strategy of the company Sydney travel group can easily increase their overall market share. By using different mediums of advertisement such as Internet, mobile platforms and international television channels as well company can advertise there programs as well as other discount which would increase their overall reach and improve the brand image in the society.
- Implementing new ideas
Company should start implementing new ideas as well as changes in its business strategy. Bi implementation of the new ideas company can easily overcome the problem of declining share prices. Hiring the best professionals available in the market for overcoming the current problem can be a solution. By implementing new ideas and the strategies into the system sydney travel group can easily be known into the market.
- Moving towards sustainability
By moving towards sustainability sydney travel group could easily improve their overall brand image in travel and tourism market. By following the Global code of ethics for tourism this could easily be done for the company. There should be a specific department for maintaining the sustainability of the company in the international as well as the local market. Company should be following the guidelines of ISO 26000 for better social responsibility.
- Thinking about the customers and taking feedback
By thinking about the customers and taking feedback from the customers we can easily implement and improve the brand image over the international as well as the local market. Increased brand much would would result in better brand value creation of resources for the company. Improve their packages which would directly related to the Employees and would help in better sales of the package for the company resulting higher revenues.
For improving the sustainability and promoting the internal CSR ideas following terms can be followed.
- Following the guidelines.
By following the official Global code of ethics for tourism company can easily implement better CSR into the company’s work structure. A professional and skilled person should be in charge of the company who is having knowledge of every single corporate social responsibility and as well as resources and competencies for your company. Company should also be following the official ISO guidelines for improving their overall CSR responsibilities.
For improving the sustainability and promoting the internal CSR ideas following terms can be followed.
- Following the guidelines.
By following the official Global code of ethics for tourism company can easily implement better CSR into the company’s work structure. A professional and skilled person should be in charge of the company who is having knowledge of every single corporate social responsibility and as well as resources and competencies for your company. Company should also be following the official ISO guidelines for improving their overall CSR responsibilities.
- Improvement in the workplace as well as the organisational structure.
Improving as well as organisational structure company can easily and productivity as well as the Social Responsibility towards the workplace. Avoiding various issues such as employing the child labour and paying the least average wages to the Employees should be maintained. They should be clear overtime regulations as well as regular service for the perfect employee satisfaction.
- Implementing cultural diversity
By implementing the cultural diversity in organisation you can easily social responsibility as well as for the organisation. Having different cultures in your organisation could directly lead you to an improved ethical as well as social work structure , improve overall corporate social responsibility and this will also promote the internal CSR ideas.
Buy application of following terms into your organisation you can easily increase the company’s social responsibility as well as the internal CSR. Social responsibility and CSR improvement Board result in better revenues and definitely provide a support for the company for the dropping share.
