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Essay / The Importance of Corporate Social Responsibility
In the late 19th century, Nike was called a “sweatshop” simply because it was not meeting its social responsibility. As a report states, Nike seized the market opportunities and announced with a slogan “just do it”, as well as the support of top athletes, it attracted the attention of young people (2001). Despite this, they abandoned the business strategy of small profits and quick turnovers, instead increasing the price of shoes and reducing employees' salaries in order to maximize their profits. However, it was a time of depression where prices were not affordable for everyone, so complaints from opponents who launched a "sweatshop boycott" campaign forced Nike to raise factory wages of shoes abroad, which constitutes an obstacle to the development of the company. Nike. As part of this repeated thinking, Nike was determined to focus on corporate social responsibility and created a multifunctional executive-level team responsible for ensuring compliance with CSR and environmental standards (Expert Researcher, 2013). After that, Nike dedicated its efforts to protecting employees, innovating sustainability, and solving climate change. In 2007, Nike was named a leader by the WWF and has already eliminated carbon dioxide emissions by 18% compared to 1998 (Nike, Inc.