Winning Strategies Phase 2 Team B3

1. Winning StrategiesPhase 2Team B3 Team B3

2. Conclusion • Policy • CSR • Vision Vision WaveRiders “to become leaders of RIB in the European market by understanding our market and customers”

3. Conclusion • Policy • CSR • Vision WaveRiders • “to become leaders of RIB in the European market by understanding our market and customers” Visions • Increase efficiency • Increase revenues • Increase market share Goals Production HR Marketing Finance Departments

4. Conclusion • Policy • CSR • Vision CSR Customers Employees Governments Creditors

5. Conclusion • Policy • CSR • Vision Corporate Social Responsibility Corporate Social Responsibility represents a concern with the needs and goals of society which goes beyond the merely economic. insofar as the business system as it exists today can only survive in an effectively functioning free society, the corporate social responsibility movement represents a broad concern with the business's role in supporting and improving the social order. Source: (Eells, R. et al 1974)

6. Conclusion • Policy • CSR • Vision Pyramid Source: (Caroll, A. et al 1991)

7. Conclusion • Policy • CSR • Vision How do stakeholders perceive CSR ???

8. Conclusion • Policy • CSR • Vision Designing CSR: An Integrated Framework Eight steps to implement CSR from a marketing perspective: • Understand the organization (its values and norms) • Identify who are the key stakeholders • Identify what the key stakeholders expect from the company (in terms of CSR) • Assess the CSR policy that fits to the organization • Audit current practices • Implement and prioritize CSR changes • Communicate CSR within stakeholders • Search for feedback from the stakeholders Source: (Maon, F. et al 2009)

9. Conclusion • Policy • CSR • Vision Dept: Marketing • On one of the strategic goals of our winning strategies was to increase revenue by 10% PA. • Awareness Program on the Safe use of Rigid Inflatable Boats (RIB) – SafeWave • Inclusion of Maritime Rescue Team • Safer Use of WaveRider Boats by users

10. Conclusion • Policy • CSR • Vision Dept: Production • Strict Adherence to UK & EU laws • Company to offer Warrantiesof RIB's to customers • Product to attempt to exceed the safety requirements of EU & UK • Product should start using recycled material (as much as can be used). • Safe & Clean working Environment

11. Conclusion • Policy • CSR • Vision Dept: Human Resource Increase Efficiency • Equal opportunities for new employment • Donation Program – donation to National Lifeguard Facilities & Maritime Rescue Teams • Move for paper-lessorganization

12. Conclusion • Policy • CSR • Vision Dept: R&D • New Technology Innovation to also focus on reduced CO2 emissions – Going Green products. • Research to further check which materials can be used from recycled materials

13. Conclusion • Policy • CSR • Vision Conclusion • The Inclusion of CSR in WaveRiders did not affect the Initial Vision & Goals • An Active CSR Policy will empower WaveRiders in comparison to other Companies in the same Market • CSR Policy takes into effect the Industry WaveRiders operates in • Inclusion of CSR policies will improve:- • Corporate Image • Employee Morale • Stakeholders Satisfaction apart from other goals

14. References • Eells, R., & Walton, C. (1974). Conceptual foundations of Business (3rd Edition). Burr Ridge, IL: Irwin • Maon, F., Lindgreen, A., Swaen, V. (2009). Designing and implementing corporate social responsibility: An integrative Framework Grounded in theory and practice. Journal of Business Ethics. Vol. 87, Pg 71-89 • Carroll, A. (1991), The Pyramid of Corporate Social Responsibility: Toward The Morai Management of Organizational Stakeholders, http://cf.linnbenton.edu/bcs/bm/gusdorm/upload/Pyramid%20of%20Social%20Responsibility.pdf. • Sen, S., Bhattacharya, C. (2006), The role of corporate social responsibility in strengthening multiple stakeholder relationships: a field experiment, Journal of the Academy of Marketing Science, Vol.34, Issue.2, Pg 158-166 • Corporate social responsibility and the identification of stakeholders.Vos, J. F. J. (2003), Corporate social responsibility and the identification of stakeholders. Corporate Social Responsibility and Environmental Management, 10: 141–152.

15. Thank you for your time Q&A