Adoption of Socially Responsible Innovation Strategies

Part
01
of one
Part
01

Adoption of Socially Responsible Innovation Strategies

Three large corporations that have benefited from recently adopting socially responsible innovation strategies include Google, Johnson & Johnson, and Coca-Cola.

GOOGLE

SOCIAL RESPONSIBILITY AND BENEFITS TO SOCIETY
  • Google's data center uses 50% less energy as compared with other global corporations. The company has committed over $1 billion to enable other companies to reduce their impact on the environment with their services such as Gmail.
  • In 2017, Google achieved 100% renewable energy targets and is the top purchaser of renewable energy in the world.
  • Google provides grants to social impact initiatives including Goodwill Industries International, Equal Justice Initiative, and Pratham Books.
  • The company also facilitates employee gift matching, green commuting, paid time off for employees to volunteer.
COMPANY BENEFITS

JOHNSON & JOHNSON

SOCIAL RESPONSIBILITY AND BENEFITS TO SOCIETY
  • According to Sustain Case, in 2017 Johnson & Johnson identified social responsibility throughout its supply chain as a key issue.
  • The company did an audit on its supply chain and also updated responsibility standards for suppliers.
  • The corporation has focused on initiatives that reduce its planet impact.
  • The corporation purchased a private energy supplier to allow them to reduce pollution and provide renewable energy.
  • Johnson & Johnson leverage wind power and provides "safe water to communities around the world".
  • They aim to find ways of procuring 35% "of their energy needs from renewable sources".
COMPANY BENEFITS
  • Social responsibility reduced sourcing risks and the brand reputation is protected.

COCA-COLA

SOCIAL RESPONSIBILITY AND BENEFITS TO SOCIETY
  • Coca Cola established seven core areas as their social responsibility strategy. These include community, beverage benefits, energy, healthy living style, climate, good sustainability practices, and improving business goals.
  • Coca-Cola’s has made changes to their supply chain practices by investing massively in "new alternatively fueled trucks".
  • Their delivery trucks contributed to "3.7 million metric tons of greenhouse gases to the world".
  • The company has initiatives intended to reduce their carbon footprint by 25% before 2020.
COMPANY BENEFITS
  • The company's social responsibility strategies helped it to get good reputation and profitability.
  • Coca Cola stands in a good position in the market partly due to their social responsibility initiatives.
Sources
Sources