T.J. Maxx Corporate Social Responsibility
The company I chose to explore is TJ Maxx. I choose TJ Maxx because they are one of my favorite stores where I can find brand name products at an affordable price. The TJX Companies, Inc. have been in the business industry for 36 years. TJ Maxx started in 1919 when Brothers Max and Morris Feldberg founded New England Trading Company in Boston, Massachusetts and opened the first retail store in 1929, dedicated to selling women hosiery. Two decades later, that one store grown into a whole chain of women's apparel stores that overextended from New England to Washington D.C. In the mid 70’s T.J. Maxx was born and grew into what is known today as the TJX Companies, Inc., which is the leading off-price retailer of apparel and home fashions in the United States and worldwide.
Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities are economic, legal, ethical, and philanthropic responsibilities.
Economic Responsibilities should be a company's main responsibility as the company needs to be mainly worried with turning revenue because if the company does not make money, it won't last long. The company's Legal Responsibilities are the requirements that are placed on a company by the law and making sure that it follows all laws is the one of the most vital responsibility. While Economic and legal responsibilities are the two main responsibilities of an organization, once they have met these indispensable requirements, an organization then can get involve with ethical responsibilities. Ethical responsibilities are responsibilities that a company puts on itself because its shareholders consider it's the correct thing to do. Finally comes in the philanthropic responsibilities which are responsibilities that go in addition of what is basically mandatory or what the organization think is right.
Corporate social responsibility is a business philosophy gaining popularity in the 21st century. By taking social and environmental responsibility for their actions, some businesses are attempting to reduce environmental damage, human rights violations, and bad...