Coca-Cola is seen to be one of the biggest brands of the world as per survey by inter-brand. This ranking has been there for around 11 years. It is one of the top beverages businesses which hold a great reputation among other clients of USA. The corporate social responsibility has a huge significance in making the goodwill of this company better.
A multilayered model given by Carroll in 1991, showed interconnected view points for CSR. These are philanthropic responsibilities, ethical, legal and economic. These four views assess the CSR. The pyramid starts with economic responsibilities. It is shown that the major object of business is to earn profits by selling out its goods and services. Other three responsibilities and obligations are only set on this aim.
Effects of the CSR policy
The subsequent layer is of legal responsibility of any firm. The ethical responsibilities are exercises that are not a set in the legal terms. It is anticipated by the social partners that a firm will perform in the right manner and in an appropriate way. Finally, at the top-most level of the pyramid, the philanthropic responsibilities are late. The companies have to ensure that the focus is on the serving of corporate nationality and the enhancement in the quality of life. In the year 2000, there were various segments of the society, which slowly started investigating the MNCs and their working. So CSR turned out to be a complicated idea which is an important element of corporation decisions for many MNCs.
It’s been more than 2 decades, but the Pyramid is still very appropriate. It is commonly mentioned, discussed, changed and disparaged by universities, corporate managers, politicians and social critics. However, one has to look away from the arguments and lay more stress on its realistic appliance to know the Pyramid’s true significance. The Pyramid holds its importance as it has simple yet basic structure by which a business can not only know the essential standards of social responsibility, but also eventually express the practices to attain every stage of the pyramid with the final aim of getting to the top.
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