Pick one of the managerial implications for action regarding CSR. Describe the implication and discuss the benefits and challenges

Students should provide discussion of one of the implications below.

First, managers need to understand the rules of the game, anticipate changes, and seek to shape and influence changes. For instance, while the United States has not adopted the Kyoto Protocol, many U.S. companies voluntarily have participated in the efforts outlined under Kyoto to reduce card emissions or other related activities. Many companies have done so in anticipation of future regulation.

Second, managers should pick their CSR battles carefully. Firms should carefully select CSR practices that fit with their existing resources, capabilities, and complementary assets. While competitors may engage in high-profile CSR activities, using the latest most hyped methods and technologies, that does not mean that your firm should implement them as quickly as possible. Those methods may not be as effective as they appear, your firm may not have the resources to sustain those methods, and they might not fit with your firms existing capabilities.

Finally, the firm must integrate CSR as a part of its core activities and processes. The popularity of CSR is rising. It is becoming a common term in innovative business circles, and many young business leaders view it as a foundation to modern-day business practices. Therefore, if a firm is going to practice CSR, it is important for them to adopt true and authentic practices, not cosmetic or surface changes. NGOs, government, other firms, and individuals are keeping a watch out for "fakers." Recent corporate scandals have left all firms relying on good reputations to maintain profitability. If a firm claims to practice CSR, it is important to wholeheartedly do so in order to maintain its good reputation. The sacrifices of added costs, greater regulations, and liability have to be viewed as a simple cost to a greater benefit.