Corporate social responsibility (CSR) is a term that depicts the efforts that organizations embark on to allow them to make improvements in various ways. The efforts that companies undertake might range from executing policies friendly to the environment in work setting to money donation to various nonprofits. CSR plays a vital role in nonprofits, companies, and employees among other organizational stakeholders. CSR serves as an additional undertaking that firms embark on to improve their domestic and worldwide communities. Concerning the case of Walt Disney, it has gained notable popularity as one of the biggest and big corporations that exercise CSR in its business model (Birkinbine, et al., 2016, p. 12). As the largest entertainment and media conglomerate worldwide, the company embarks on significant responsibility for giving back to the community apart from its unending "Imagineering." For instance, in 2009, Disney emerged as the leading firm concerning CSR initiatives. The company mostly lays emphasis on the community, environment, as well as labor standards while directing heavy emphasis on volunteerism. Additionally, the Walt Disney continues giving to charity, while addressing significant focus on natural disasters (Greenberg, et al., 2016, p. 32). Thus, the paper will profile and evaluate the corporate social responsibility of Walt Disney, which undertakes its activities in an environment characterized by organizations committed toward environmental stewardship to win the confidence and trust of their diverse stakeholders.
Criteria for Making Evaluation
In making an evaluation of Disneys CSR initiatives, it is worth laying emphasis on the various standards that characterize its mission statement, vision statement, 5-10 year plans in line with evidence of activities, practices, such as greenwashing among other areas. For instance, regarding the mission statement of Walt Disney, it serves as one of the primary reasons for driving its success in undertaking CSR activities (Cohen, 2012, p. 33). In addition to the mission and vision statements, Walt Disney also lays considerable emphasis on environmental stewardship through serving as an advocate for safeguarding the environment for countless years. Disney has adopted environmental conservation and protection themes repeatedly in creative media and parks (Carroll & Buchholtz, 2014, p. 44). The firm also stipulates that it is focusing on implementing numerous efforts for training the staff, cast members, as well as other workers. This will ensure that the staff and management of the corporation lay emphasis on conservation themes as well as environmental protection in the policies for making decisions (Guliani, 2016, p. 38).
Mission, Vision, and Five-Year Plans
The company's mission is to serve as a major leader in producing and providing information and entertainment. The company lays emphasis in utilizing its brand portfolio to allow it differentiate services, content, and consumer products as well as develop innovative, creative, and cost-effective entertainment encounters and associated products globally. On the vision statement of the company, it works in line with the mission statement (Goldblatt, 2011, p. 18). The vision provides the firm with an ultimate objective, whereas the mission outlines the present purpose and business of the company. The firm's vision is to ensure that people are happy. The vision is broad in such a way that it represents the entire goals and worldwide directions on the company. Through the vision and mission statements, Disney has managed to develop elaborate plans, which have played a major role on devising effective CSR strategies, which have played a major role in transforming the society and the world (DiStaso & Bortree, 2014, p. 56). Also, the financial statements below (cash flow statement and balance sheet) are an illustration of the Walt Disneys Five- Year Plan
Cash flow Statement from 2012 to 2016
Walt Disney Cash Flow Statement (Morningstar, 2017)
Balance Sheet from 2012 to 2016
Walt Disney Balance Sheet (Morningstar, 2017)From the five-year financial statements by Walt Disney, It is apparent that the financial performance of the company has improved considerably. For instance, looking at the Cash Flow statement, the net income of the company grew from 6,173 million in 2012 to around 9,790 million in 2016. Its net cash from investments also witnessed notable growth from 7,966 million in 2012 to around 13,213 million in 2016. Moreover, from the firms balance sheet. Its total cash rose from 3,387 million in 2012 to more than 4,610 million in 2016. Its overall assets also rose significantly from 13,709 million in 2012 to over 16,966 million in 2016. In this sense, it is true that the corporate social initiatives by the company have played a significant role in boosting the image of the company as a responsible corporate citizen. Thus the notable growth witnessed by the company in the recent years (Morningstar, 2017).
In addition, in remaining as a leader in CSR activities, Walt Disney has put in place plans, which will guide its future operations. For instance, in the coming five years, Disney has made positive predictions concerning its future. One of the major areas the company is focusing on is diversifying its CSR initiatives. In case the company continues to address the various emerging threats facing the company and the environment as well as remain committed to its vision and mission, which have guided the company for more than 90 years, the company anticipates that its future will be promising for the entire firm in line with the environment as well (Kotler & Maon, 2016, p. 26).
Disney is laying emphasis on three major areas of environmental stewardship in its five-year plan. These will facilitate in allowing the company to grow responsible as well as communicate its aspirations. For instance, on the area of waste and greenhouse emissions, the company anticipates realizing a zero state. Disney believes that the issues serve as urgent challenges facing the world and will keep growing in importance as each year passes. In this sense, the firm has laid emphasis on growing concerns of stakeholders in a strict regulatory environment. Hence, the corporation believes it is vital to establish a long-term zero ambitions level to allow it realize its principles as it grows its markets in different regions around the world (Clarke & Chen, 2013, p. 59).
The challenges associated with water serve as highly localized challenges. Here, the company believes that the best way in which it can manage to address problems associated with water should revolve around evaluating risks on certain sites while at the same designing commensurate programs that can facilitate conservation activities. These would play a fundamental role on supporting a proper allocation of resources in the areas facing higher risks and stresses. The major three goals Walt Disney wishes to realize in the coming five years are shown in the table below (Palmer, 2015, p. 84). With the set goals, the company will manage to realize its CSR initiatives as a responsible corporate citizen together with its overall increased competitiveness in the marketplace.
Zero Net Emission of Greenhouse Gases Reduce net emissions by more than 50 percent in 2020
Zero Waste Realize 50 percent diversion of waste from incineration and landfills
Water Resources Conservation Sustain portable consumption of water in the prevailing sites
Greenwashing Blue Washing Evidence
Although Walt Disney serves as a fantasy world, the company is embarking on initiatives to allow it become green. The company is showing an unerring capacity for persuading individuals to cross oceans with the goal of visiting its theme parks. It is focusing on the notable path for supporting corporate environmentalism (Laasch & Conaway, 2014, p. 39). Conservation International has laid emphasis on this issue, as it serves as one of the biggest and business friendly organization that lays emphasis toward the environment. In its reports, Disney focuses on introducing a sustainability report, which details the efforts of the company in cutting waste, water usage, nature protection, and head toward zero emissions of carbon in its parks and offices, while aiming to purchase green electricity in the coming years (Bice, 2016, p. 64).
The major eye-catching features that catch the eye comprises of the train apparent at California's Disneyland, which utilizes biodiesel, which is made from cooking oil from the restaurants of the resort. The major aim of this initiative is to make the products and brands of the company more attractive while at the same time strengthening the bonds it has with its customers. It also aims at making the firm an ideal place for working in as if with establishing goodwill in the societies it undertakes it operations. The activities also contribute to the value of the shareholders. In this case, it is apparent that the green initiatives the company is supporting are playing a major role with regard to supporting environmental sustainability. These have facilitated in strengthening the CSR initiatives by Walt Disney further (DiStaso & Bortree, 2014, p. 63).
CSR and Sustainability Commitments Evaluation
The term sustainability comprises of several connotations. It rhymes with CSR in such a way that business leaders use it when referring to CSR. Sustainable business activities serve as those actions that firms undertake to reveal social responsibility practice. Today, the term relates to the relationship that businesses develop with their surrounding environment as well as the ways in which they use water, air, land, forests, minerals, animal, fossil fuels, and diverse natural resources. When a company uses the resources in a wise manner, it aims at meeting its best interest. Thus, through preservation of the resources, a firm rests assured that they will support its future needs (Laasch & Conaway, 2014, p. 38).
Walt Disney has several practices, which reveal that it is committed toward supporting sustainability. The position of the corporation on sustainability has prevailed within the company since the 1950s. The firm embarked on the production of various television shows regarding animals as well as the need for wildlife preservation as well as the environment. Moreover, Disney is committed to setting high environmental level strategies (Kotler & Maon, 2016, p. 24).
Additionally, the goals of the company toward sustainability target two key areas. Firstly, the company aims at minimizing its operating influence on the world. Secondly, it inspires other organizations to follow a similar trend. The two-plan strategy comprises of workers who support Green Teams as well as focus in checking every component within the organization to ensure that all departments adopt practices that are safe for the environment (Goldblatt, 2011, p. 39). Furthermore, Disney undertakes research to allow it determine the ideal practices, which it can adopt to allow it safeguard the environment, particularly practices that target minimizing carbon emissions. In this sense, the company has set up a department that focuses on researching the vari...
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