Corporate social responsibility Essay Example | Topics and Well Written Essays - 750 words - 4

Corporate social responsibility - Essay Example to emerging social priorities such as the need for eradication of pollution and conservation of fuel in order to ensure higher standards of living and sustainable development in the immediate society (Carroll and Shabana, pp 86). The integration of CSR policy and disclosure of CSR activities contribute to brand loyalty and good reputation in the industry (Du, Bhattacharya and Sen. p 240). This paper will analyze the Rolls-Royce Group’s level of disclosure of CSR activities in its financial statements. The paper will also analyze Rolls-Royce Group disclosure of its economic responsibility, legal responsibility, ethical and philanthropic responsibility of the company in and make a comparison of the CSR approach with that of other companies. Rolls-Royce Group provides its customers with the most technologically advanced power systems in marine, energy, civil and defense aerospace markets. According to management oral comments, the company is constantly looking for new methods of minimising the environmental impact of its business activities and transforming utilization of energy. Rolls-Royce business model aims at attaining long-term growth, profitability and sustainability. The company has diversified in numerous markets such as Asia and has maintained zero debt. From 2007 to 2011, the company has maintained a growth in revenues thus this can be attributed to customer loyalty and aggressive efforts in cutting down operating costs. Rolls-Royce Group plc revenues grew at a higher rate when compared with the GE Aviation which is the leading competitor in the industry. For instance, in 2008, Rolls-Royce revenues increased at the rate of 22.2 percent compared with a rate of 5.8 percent for GE Aviation. Although GE Aviation experienced a decline a 14.1 percent decline in revenues due adverse impact of the financial and economic crisis in 2009, Rolls-Royce managed to increase its revenues by 14.1 percent. Rolls-Royce is committed to ensuring manufacturing efficiency