Marks and Spencer annually create a CSR (Corporate Social Responsibility) report to ensure stakeholders receive a clear view of the company’s issues and core business values. The report maintains reputation and obtains trust from the stakeholders, thus increasing the company’s financial value. From the latest CSR report on the Marks and Spencer website I have found the following:
· The company actively launched the ‘Look behind the label’ campaign to relate and communicate effectively with the stakeholders interested in the company’s social, ethical and environmental performance
· Marks and Spencer clearly highlight the company’s key values of being Fair Trade, ethnically diverse and environmental
· The report states how issues are responded to through listening to the customers, employees, shareholders, social, ethical and environmental groups and then taking positive action to benefit both the company and the stakeholders.
· A detailed list of product issues and management is used to state the consistently high expectations and values Marks and Spencer sets for itself. From food monitoring to packaging
· Two way communication is vital to ensure a constantly changing and emerging CSR is maintained to a high standard to assure key stakeholders of success and to encourage support. Overall this report increases the company’s financial value whilst maintaining a reliable reputation
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