Sustainability and CSR Final Assignment: Samsung Electronics Professor Mark J. Kay, Ph.D. October 19, 2019 Executive Summary Page | 1
This report focuses on illustrating the fundamentals of Samsung’s twelfth annual sustainability report. It summarizes the internal and external benefits their corporate social responsibility has on core stakeholders and defines the associated costs to the corporation. The report covers the period of 2018 and supplies details on key initiatives of their CSR and sustainability report. The data used to develop the report comes from headquarters in Korea, global worksites, and supply chains. The reporting standards that Samsung used to develop their 2019 sustainability report is by GRI Standards, “Core” option. The report goes on to describe the actions that Samsung is taking to reduce their environmental footprint and reduce their effects on climate change. Some actions discussed focus on decreasing emission gases, upgrading worksite facilities to energy efficient facilities and other initiative that help them be sustainable. We will look at the green markets and their product offerings then discuss the steps they are taking to use reusable resources. Then finally supply some criticism on their initiatives and gaps, that were not addressed in their CSR. Page | 2
Social Sustainability Benefits and Costs of CSR and Sustainability Samsung Electronics’ CEO, Ki Nam Sum expressed in the company’s sustainability report that profits are no longer the sole measurement of evaluating a business’ performance[ CITATION Sam19 \l 1033 ]. In fact, measuring a business’s entails evaluating the corporation’s ability to be as environmentally sustainable and socially responsible as possible. Ki Nam Sum’s statement above is following the analysis of costs and befits of CSR which are elaborately explained in the journal, “The Benefits and Costs of Corporate Social Responsibility.” In the article, the authors reference a formula used in accounting to measure the cost of an opportunity, in this case a CSR decision and the value it creates for the company. A key takeaway from this article is the that many CSR policies implemented by organizations merit tax incentives from state and federal governments that lead to sales-tax exemptions and property tax abatements[ CITATION Lau10 \l 1033 ]. The goal for the following analysis is to pair the CSR initiative with the proper stakeholder and provide a summary of the cost incurred by Samsung and note the potential tax benefit. Employees & Corporate Culture In the article, “Do all Companies Have to be Evil” the author references “The Good Google” is portrayed as a leading company who focuses their efforts on applying management standards that protect the labor and human rights of their employees. They focus on providing employees with environments that nourish and highlight the good in people [ CITATION She08 \l 1033 ]. Google adopted the inherent theory that if a company treats their employees well then in turn those employees will do good by the company. The article refers to this concept Page | 3
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