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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.
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
- The company and its CEO are trusted for their environment friendly initiatives.
- Google is the world's most popular search engine.
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.