Evidence last year sapphire princess celebrated the

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Evidence: Last year, Sapphire Princess celebrated the start of its 2017/2018 homeporting season in Singapore by inviting underprivileged children to tour the ship. Mr Farriek Tawfik, Princess Cruises’ director of Southeast Asia, hoped the event would motivate the children to study hard so that they might take a cruise with the liner in future. Also he hoped that the children would narrate their experience to their friends so that the latter would then ask their parents to take them on a cruise in the near future. In short, by having this CSR event, the company has already secured its future customers. 4. Engaging in socially responsible practices can enable companies to enjoy cost savings Being socially responsible entails putting less stress on the environment to ensure sustainability, and this often means companies look to innovative ways to use less of what they originally use. The increased efficiency certainly spells good news for companies’ bottom line. Evidence: General Mills’ practice of installing energy monitoring meters on several pieces of equipment at its Covington, Ga. plant helps it to be on a path to reduce its energy savings while being socially responsible. This helped the company to save $600, 000, according to its 2011 Corporate Social Responsibility report. Evidence: In 2005, Walmart’s then-CEO Lee Scott announced that the company was going to embrace sustainable, socially responsible practices. To this end, Walmart worked with trailer manufacturers to redesign its transportation fleet so that it can carry more cargo at any one time. They also worked with vegetable growers who sell their veggies in Walmart to use less fertilizer. These helped Walmart to reduce its environmental footprint, and also contributed to its net sales being on an upward trend since 2006. In 2017, net sales were US$482.32bn, which is more than US$180bn compared to net sales in 2006.
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Evidence: Nike has been innovating its materials development and management to address the impact of climate change on the supply chain and reduce its environmental impact. One area of concentration is water conservation. In 2012, Nike partnered with DyeCoo Textile Systems, a Dutch startup, and adopted their new carbon-based dyeing process that dyes garments without using water or chemicals. Without water, the process also reduces its energy use by 60 percent since the garment does not have to be dried. It also dyes 40 percent faster. The savings are significant. The previous process required 25 to 40 gallons of water for every 2 pounds of textiles dyed. Until this process, Nike’s contracted textile plants used approximately 3 billion gallons of water a year, and Nike itself used 325 million gallons.
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