In the first section of this paper, I will present a research paper that discusses corporate social responsibility strategies by applying what was stated in (Bechtel Corporation). The second section will compile the references I included in the previous modules according to APA Formatting and include them in an attached file.
The Selected Research Paper:
Corporate Social Responsibility: What does it mean for the project manager? (Tharp & Chadhury, 2008).
Research Analysis:
It is a research paper issued by the Professional Project Management Institute (PMI); the goal of this paper is to discuss the strategies that leaders must undertake to build an ideal social responsibility for the companies they lead; this social responsibility includes Carroll's four-step pyramid (economic - legal - ethical - charitable) in addition to another element (sustainability) to meet the needs of the present without compromising the needs of future generations.
The paper argues the impact of ignoring corporate social responsibility may outweigh the effect of the risk of losing profits; the paper proves that many large companies come most of their value from intangible assets such as brand equity and reputation; the value of these assets sometimes exceed 80%, and if these companies have breached their social responsibilities, the losses are much greater than the losses of the profits of their products and services (Tharp & Chadhury, 2008).
Apply the CSR framework to Bechtel Corporation:
The paper explained several steps for leaders to emphasize the social responsibility of their companies, such as evaluating the surrounding environment of the company, what responsibilities must be done at the present time, and what can be placed at the end of the list after that understanding the needs of society through direct contact with it, so that the company becomes an integral part of the surrounding environment. Finally, the company should work on building a strategic advantage by implementing corporate social responsibility, so this paper is helpful for companies working in the project sector, mainly as it discusses social responsibility in light of the role of project managers (Tharp & Chadhury, 2008).
For example:
According to (Bechtel, 2017), Bechtel Corporation operates in many countries where workers under the legal working age work in the United States. This happens in some countries in Africa and Asia. The societies there depend on making their children work to provide the lowest living standards for them and their children only to survive. Therefore, Bechtel should give exceptional care for such workers, for example, creating unique educational, training, and health programs; these programs benefit not only the community but also the company itself by investing in the development of its workers and maintaining its global reputation, otherwise it must return to the implementation of special US laws for child labor.
Conclusion
According to the above, companies must formulate social responsibility strategies according to what serves their interests and the interests of society together, and not the interests of society at the expense of its ability to compete and survive. Finding a competitive advantage through these strategies must be the company's first goal, according to Kramer, 2006); if corporate philanthropy is independent of competitiveness and commercial advantage, it is best to leave the task to governments and charitable organizations.
References
Bechtel. (2017). The Bechtel Sustainability Report 2017.
https://www.bechtel.com/getmedia/fba1f2be-0869-4ce8-97ca-bc9fc90b0ee1/2017-Bechtel-Sustainability-Report-ns.pdf?ext=.pdf
Porter, M. E., & Kramer, M. R. (2006). The link between competitive advantage and corporate social responsibility. Harvard Business Review, 84(12), 78-92.
Tharp, J. & Chadhury, P. D. (2008). Corporate social responsibility: what it means for the project manager. Paper presented at PMI® Global Congress 2008—North America, Denver, CO. Newtown Square, PA: Project Management Institute.