Therefore, the company has made commitment to making the company an environment friendly organization where all the processes ranging from footwear manufacturing to retailing are environment friendly and dedicated to CSR activities. In light of its new mission, the company has identified various steps which could be taken to become more environment friendly globally and locally.
New Balance has been involved in CSR activities and has been adopting various strategies from time to time in order to become more environment friendly. From the case study, following strengths can be derived about the company which makes it a successful candidate for adopting CSR strategies:
The company’s employees are dedicated and committed towards adopting a strong CSR strategy and work for making the company more environment friendly. They are willing to adapt to changes which may be required in order to become more environment friendly. Therefore, the upper management will not have to face resistance if they need to change the working conditions or company operations for successful implementation of CSR strategies.
The suppliers of the company, both locally and abroad are also supportive and ready to adapt to any changes which may be needed in the manufacturing process of footwear in order to become more environment friendly or to abide by the laws of the legislation which may require the company to change their current manufacturing processes.
The company is ahead of its competition in some of the manufacturing processes such as the elimination of PVC in the manufacturing of footwear. This can give the company a competitive advantage over its competitors which it can utilize to gain a larger market share.
The company has a good reputation in the market and a large market share, thus a greater profit margin. This profit margin can be used to finance the R&D or the adoption of new technologies