THAI Beverage PLC (ThaiBev)
Research-based Individual Report
Corporate Social Responsibility
Executive Summary
The aim of the paper is to examine the corporate social responsibility strategies of Thai Beverage Company Limited (ThaiBev). This will include CSR activities that are socially responsible for educating responsibility, public health responsibility, and culture responsibility, which have been implemented by ThaiBev. Companies are committing their resources to CSR because it has become an important tool towards promoting the image of the company and a tool to attract customers to the business. Customers want to be associated with companies that place emphasis on CSR. CSR has become an important tool in allowing companies to become competitive in the market towards maximizing profits and promoting its image. ThaiBev has succeeded in promoting CSR activities both in domestic and overseas markets. The company encourages its employees to promote ethical practices while undertaking their assignments in different parts of the world. Therefore, CSR has become a cornerstone of the company since its establishment in 2003 that has been attributed to strong leadership. The paper will examine the role of CSR by looking at different models that include stakeholder theory, Carroll’s pyramid of CSR and three-domain model of CSR.
Table of Contents
Appendix ……………………………………………………………………………………….. 23
Introduction
Presently, each business attempt to create value to their organization to attain the profitable business activity, mission statement along with a vision. The performance of the product, financial figure, shareholder and worker satisfaction is not only assessed and presented the success of a business but to consumer satisfaction to fashion loyalty, as well as trustingly to customer that is key factor to maintain and sustain strongly in the market for long-term. The corporate social responsibility (CSR) is an important strategy for many companies in creating their social image along with reputation to take their responsibilities to society and also the involvement of clients in busbies process to become a common practice of many successful firms (Grayson, 2016, pp. 119).
Thai Beverage Public Company Limited (ThaiBev) was founded in 2003, with the goal of integrating the founding shareholders’ along with investors’ leading businesses related to spirits and beer into ThaiBev Group. The company was listed on the Singapore Exchange (SGX) in 2006 and since then, the firm has expanded its business from spirits to non-alcoholic beverage to increase the variety of brands, which ThaiBev offers, improve the efficiency of its logistics channels and diversify the business risk. Currently, the company is not only Thailand primary producer, but also one of Asia’s biggest producers. ThaiBev places considerable stress on developing and operating its business in a sustainable manner and is dedicated to continuing doing so in the long-term (Baden & Harwood, 2013, pp. 615). To make sure ThaiBev products deliver maximum “happiness” and satisfaction to clients, the company places significance on product development with the goal to respond to client demands. The company’s products are eco-friendly and produced from top quality raw materials undergone world-class advanced production technology that is hygienic, eco-friendly, and energy-saving. All the processes are tailored by the company to deliver the best products for clients. CSR is one of the marketing strategies to support the company to improve or sustain their performance in the marketplace and to create the social image of changing attitude along with the perception of Thai consumers. The CSR campaign represents the recognition to consider the interesting issue of society by taking responsibility to associate closely with the consumers (Moon & Orlitzky, 2011, pp. 584).
Theories and Framework
Figure 1: Holistic Approach to CSR Practice
Characteristics of Corporate social responsibility
Society and stakeholders expect companies to behave ethically, responsibly and environmentally-friendly and live up to their corporate social responsibility (CSR). CSR has become a top priority in business and an effective CSR approach is vital. The long-term value of carrying out business in a socially responsible manner should go beyond the short-term goals to sustain plus maintain socially responsible behavior. This will make the company socially, economical, and environmentally responsible. Many companies including ThaiBev have seen the opportunities presented by CSR in promoting its image and reputation since CSR in the modern business environment has become a source of competitive advantage. Companies are committing their resources to CSR because it has become an important tool towards promoting the image of the company and a tool to attract customers to the business. Customers want to be associated with companies that place emphasis on CSR.
The long-term value of conducting business in a socially responsible way must surpass the short-term costs to maintain socially responsible behavior while attaining organizational objectives and the organization should monitor changes and trends in society’s values. There are three concepts for social responsibility: profit responsibility to maximize profits are the simple duty of companies for owners or stockholders. The second for stakeholder responsibility that focuses on the organization plus obligations has to those who may impact attainment of social responsibility objective which related to customers, workers, suppliers, and distributors. The third for societal responsibility that regard to obligations which companies have to do the preservation of the ecological environment, general public and concern of environment and public welfare by interest and advocacy groups and institutions such as Greenpeace, a global environment mental organization(Kurbjeweit, 2011, pp. 56).
Shareholder Theory
The stakeholder theory described by Edward Freeman and others is the mirror image of CSR. Rather than starting with business and looking out into the world to what ethical responsibilities are there, the theory starts in the world. The stakeholder theory lists and describes those people and groups who would be impacted by the firm’s activities and tasks. Therefore, the stakeholder theory affirms that those whose lives are affected by a company hold and responsible to take part in directing. For example, ThaiBev being a company that produces alcohol and other products, it produces wastes and a CSR perspective attaches an obligation to the company and its owners to dispose of the waster safely. By contrast, the shareholder theory starts with those residing in the community who might find the environment poisoned by waste produced by ThaiBev and starts to converse about business ethics by emphasizing that they have the right to clean air and water. Hence, they are stakeholders in the company and their voices should contribute to corporate decisions. In the case of ThaiBev, the main stakeholders include the employees, suppliers, customers, shareholders, local business, community and government entities who are affected by the operations of the company (Burchell & Cook, 2009, pp. 35).
Carroll Pyramid of CSR
Figure 2: Carroll’s CSR Pyramid
As one of the most powerful models of CSR, Carroll’s pyramid of CSR has both reflected and assisted promote a business-centric idea of CSR that implies that economic responsibilities take precedence over legal and ethical obligations. Carroll defined CSR as a construct, which includes the economic, legal, ethical, as well as discretionary anticipations that society has of the company at a specific period. Carroll described these four obligations in a pyramid that ranks business obligations in the rank of comparative significance with economic responsibilities assumed as principal followed by legal, ethical, and lastly philanthropic responsibilities. Carroll’s pyramid remains the best-known models of CSR (Ma, Laing, Yu & Lee, 2012). It is of concern that Carroll’s pyramid of CSR apparently means that profit comes before legal and ethical obligations. This is the case in ThaiBev where the company attaches greater importance on profits through economic responsibility seen through the numerous acquisitions and expansions to overseas markets. The company wants to make more profits to be able to assist society and legal and ethical obligations come after economic responsibilities. Carroll stresses that ethical and legal obligations are interrelated since ethical matters are often the driving force behind the creation of laws, as well as regulations. Carroll sees philanthropic responsibilities as discretionary-appreciated but not needed (Buchholtz & Carroll, 2012, pp. 23).
Three-Domain Model of CSR
Carroll and Schwartz’s three-domain model of CSR from 2003 is a further advancement of Carroll’s CSR pyramid from 1991. The model has three categories that are economic, legal and ethical domains. The economic domain captures those activities that are intended to have either a direct or indirect positive influence on the company. In the case of ThaiBev, economic domain entails all the economic activities pursued by the company in the beverage industry to maximize its profits and share value (Batty, Cuskelly &Toohey, 2016, pp. 547). These activities include expansion to domestic and overseas markets and acquisitions and mergers pursued by the company to boost its profits and sales. The company also has programs to boost the morale of workers and boost its image (Ashrafi, Adams, Walker & Magnan, 2018, pp. 673). The legal domain relates to the society’s expectations concerning the firm’s responsiveness to different jurisdictions and laws and includes compliance, avoidance of civil litigation and anticipation of law. In this domain, ThaiBev complies with Thailand and has crested different policies and regulations that require its employees to comply with to avoid court cases. The ethical domain includes the public and pertinent shareholders’ expectations concerning the company’s ethical roles in a both domestic and international context. ThaiBev has been in the front line in ensuring that the company promotes ethical practices in its operations both at home and overseas markets. The employees are encouraged to promote ethical practices while handling different tasks (Carroll, 2008, pp. 21).
Corporate Social Responsibility (CSR) Strategies
Social Responsibility
The concept of social responsibility is difficultly defined one by one because that depends on the firm’s consideration and responsibility, issues beyond the economic, technical, and legal requirements of the firm. So the firm’s obligation to evaluate in the decision–making the process the effects on the external social system in a manner that will accomplish social benefits along with the traditional economic gain which the firm meets. It means that social responsibility begins which the law ends. To clarifying a firm is not being socially responsible if it merely complies with the minimum requirement of the law because what any good citizen would do. The socially responsible firm recognizes this responsibility and provides consumers with full and accurate information and safe products. Not only beyond the recognition but also realize it has a responsibility to address social issues. For instance, insuring a clean environment, discouraging drug use and teenage drinking, avoiding indirect appeals to youth to smoke, and accounting for the inability of young children to evaluate advertising and promotional appeals and some business take this issue to be part of their strategic focus as well (Hrehová, 2019, pp. 106).
ThaiBev treats business counterparts with honesty and fairness. The company places significance on supporting the business of its distributors by offering information, bits of advice, as well as training workshops on a regular basis. ThaiBev sees the importance of giving back to society through its CSR programs. ThaiBev have tried to strongly implement many CSR programs and activities related to corporate social responsibility approach, like offering instructional and educational equipment to schools and universities joining PDA to launch village development partnership program, change lover for the elderly, promoting nutrition of children in order to associate closer with Thai people (Vukić, Omazić & Aleksić, 2019, pp. 336).
ThaiBev encourages workers from different firms, functions, and nations that the company is operating to gain work experiences, which are in line with the Talent Development strategy. The company focuses on competency development that entails Management Competency, Functional Competency, and Leadership Competency. A Transformational Program has been established to instill workers with the correct mindsets and awareness that prepared these employees for future changes and make sure that the firm will safeguard a competitive advantage that permits it to grow with stability and sustainability. The company has constantly organized Talent Development Program with constant change every year to make sure that it is well concerning the firm’s goals and missions. Part of the Talent Development Program is founded on 70:20:10 learning strategy that encourages workers to establish holistic business knowledge and sharpen their leadership skill (Pedersen, 2010, pp. 157).
ThaiBev performs a survey on employee engagement on a yearly basis because the company believes in the empowerment of its employees. The firm started to follow the evaluation technique that was pioneered by Aon Hewitt in 2016 to assess factors that affect employees in six areas, which include company’s operation, basic benefits, and work context, the outcome of a human capital engagement, leadership, as well as company’s reputation and image. In 2017, results indicated that worker engagement is greater as compared to the target. These results have undergone a thorough in-depth analysis for the aim of creating a work plan on enhancing the human resources manager and to promote higher engagement. The firm has set a target of 80 percent of employee engagement in 2020. The company has organized activities to enhance employee engagement, like by having senior managers stressing the significance of the workers in its monthly magazine or by organizing events for diverse occasions. Additionally, the firm cares for its senior workers by organizing Mentor Training courses that have occurred for two consecutive years to allow the senior workers to share knowledge plus experiences with new workers who already learn and sustain that knowledge in the company (Breitbarth, Schaltegger & Mahon, 2018, pp. 1).
Furthermore, ThaiBev too offers the opportunity for retired workers to continue working with the firm as consultants and give advice and guidelines leading to knowledge and experience transfer from one generation to another. The company too attaches significance to the family lives of its workers by organizing events across the nation, like Kid’s Day to promote the relationship between workers and their kids. The activities entail sermons by monks in the morning and field trips in the afternoon (Mahtani, Chu, & Barta, 2012, pp. B6). Furthermore, the company has been giving out scholarships to children of its workers for 8 years. In 2017, ThaiBev offered a total of 1,123 scholarships that amounted to 6.9 million Baht as part of its CSR activities. Since 2010, 8,169 scholarships have been offered that totals 50, 538,000 Baht. To promote engagement, the firm has created more than 10 clubs that offer opportunities for its workers to do activities together during free time, relying on their skills and interest, like health club, bicycle club, photography club, bowling club, as well as a football club. The firm encourages workers to utilize exercise facilities and fitness centers to remain healthy. Currently, the company has 19 fitness centers and more than 73 sports grounds. ThaiBev too pays close attention to worker mental health through offering information on stress management through the company’s magazines and internal website and activities to fashion a work-life balance (Bondy, Moon & Matten, 2012, pp. 283).
Environmental Responsibility
ThaiBev is totally mindful of the impact that is expanding its operations may have on the environment. As part of the vision 2020 strategy, the company has set a determined environment target that encompasses all elements: energy emissions, water, effluent, and waste to restrict potential effects from its operations and attain sustainable growth for all stakeholders. ThaiBev has launched the Corporate Water Management Policy, Environmental Policy, and sustainability policy as guidelines to be complied with by all workers and management in the company and its subsidiaries. The company prioritized the use of renewable energy and it has undertaken resea3rch on the utilization of alternative energy. Currently, the firm has increased the use of alternative fuels by using by-products of the manufacturing process as fuel for further production. These products comprise biogas, distillery slop, as well as technical alcohol. In 2017, 18 percent of all energy used by ThaiBev was renewable (Catulli & Fryer, 2012, pp. 299).
Moreover, as a CSR activity, ThaiBev cares for the environment by seeking to reduce the environmental impact through innovations that create efficient management of resources all through the value chain. Sustainable development of the company is not only about business performance as it takes into account the social responsibility excellence along with environmental conservation. The company is resolute to turn ideas plus capability into effective operations, to give back to the society and to attain harmonious and supportive coexistence with the society and environment (Jones, Hillier & Comfort, 2013, pp. 4). ThaiBev’s distillers, breweries and non-alcohol beverage production plants run with compliance with social responsibility. Considering the importance of environmental conservation, the company focus on research of technology, and production process to promote efficiency and maximized resources use whilst sustaining the effect of neighboring communities. Biosafety management is among the priorities of the company towards restoring and returning the natural abundance, which includes reforestation, an increase of green space, environmental management and pollution control to reduce the effect on the ecological system, as well as the prevention of resources loss. Additionally, the company acknowledges the significance of the laws and good corporate governance and shapes its business operations to guarantee strict compliance (Cant & Kulik, 2009, pp. 232). The workers are delegated to observe rules and regulations and prepared related guidelines to guarantee compliance with the laws linked to industrial factories and environment currently enforced. Water management is an example of CSR activity that and the company attaches great significance since water is a crucial ingredient for the production and more significantly, it is an indispensable aspect of human lives. ThaiBev designs and selects only machinery plus technologies, which maximize the use of water resources and energy-saving (Weber &Saunders-Hogberg, 2018, pp. 964). The company also focuses on the recovery system and continuous development to lower water use. The wastewater from the production process is suitably treated by advanced and up-to-standard wastewater treatment system to make sure that wastewater undergoes the process till it meets or surpasses the needed standards as stipulated by the related laws before being discharged to the natural water resources (Baden & Higgs, 2015, pp. 541).
Economic Responsibility
Aligned with ThaiBev’s primary goal to build growth, economic management is founded in domestic and foreign expansion, together with social and environmental accountability that results in sustainable growth. The company in 2012 invested in shares of Fraser and Neave, Limited (F&N), a Singapore-based leading beverage, as well as distributor with a long-established history and different famous brands on regional level (Hrehová, 2019, pp. 106). The company considers the investment as a synergy to the business in line with its long-term strategy. In 2018, the company diversified its portfolio geographically and across product categories through three major acquisitions. The first acquisition was through a successful bid for a 53.59% stake in Saigon Beer-Alcohol-Beverage Company (Sabeco). The company further branched into spirit business in Myanmar via an acquisition of 75% stake in Grand Royal Group and the company further expanded its food business considerably through the acquisition of the rights as a franchisee of KFC restaurants in Thailand (Kaewpramkusol, Senior, Nanthamongkolchai, & Chenhall, 2019, pp. 27). Consequently, these acquisitions made the company’s revenues for 2018 increased 20.9 percent to reach Baht 229,695 million, with net profit of Baht 20,726 million. This increase has been attributed to the expansion of the business both in domestic and overseas markets. The company’s sales increased due to leadership in the domestic beverage business, with readiness in terms of production bases, extensive distribution network, as well as potential to expand to the regional beverage business. The total sales revenue sales between October 2017 and September 2018 reached Baht 230 billion as compared to Baht 190 billion reached between October 2016 and September 2017. The tireless endeavors of ThaiBev’s board of directors, executives, employees have driven the expansion of the company’s and steered the journey in becoming stable regional beverage firm characterized by transparency, good governance, as well as social responsibility.
Recommendations
Communication
The organization should improve strategy on communication, in order to promote the perception and understanding of the activity to the public and to create participation from people in the CSR activities and suggested by the survey. Television media should be the best communication to the mass market for all segmentation to perceive the activities both of direct consumer and indirect consumer which define their community (Geiger & Cuzzocrea, 2017, pp. 256).
Social issue selecting
The organization should not select the social issue but should select and focus on the issue that is significant to society, and from their activities, the problem should be improved. Moreover, the firm must concentrate and intent to their CSR activities in the limit field, and select them from the need of the public. In order to choose the area of CSR activity to promote, the company has to carefully consult it with all parties concern in all aspects. As suggested by the survey, Activities about the social issue to find the solution and sportive issues to encourage youth generation which is high potential because consumer has awareness and perceive them with satisfaction and expect the company to ongoing and extend to other campaigns for the future (Fortin & Jolly, 2015, pp. 45).
To make the partnership with the public
To operate social responsibility activity, ThaiBev should corporate with other entities to ensure that they promote CSR to another level. It may be because of the limitation of human resource and capital, wide scope of activities, however, this partnership will allow the company to expand beyond the business borders and reach other markets around the world. Hence, choosing the right alliance and the relationship pattern are important strategies that will make the company success and will assist the business to boost its presence in the market and boost value-added for corporate value and social value from the CSR activity and too share the voice of communication with rivals and other categories also (Bennett, Pierce, Snyder, & Toffel, 2013, pp. 17).
Increase CSR activities
The current CSR activities pursued by ThaiBev are satisfactory, but the company must endeavor to increase the types of CSR activities as a marketing tool. In order to attain this goal, the firm must attempt to mix the types of CSR activities for creating social value in a broader range and would align these activities with the image plus the reputation which is powerful in the market (Brooks, 2010, pp. 606).
Conclusions
ThaiBev has grown its CSR activities in an effort to continue attracting more clients and giving back to the community. The company has made significant progress towards fulfilling its goal of becoming stable and sustainable total beverage champion in the ASEAN marketplace by 2020. The company has attained greater standing in the global arena as a company that delivers growth in a sustainable manner to optimize long-term benefits for stakeholders (Senasu & Virakul, 2015, pp.44). This success is not only motivating but also spurs the company to promote its commitment to sustainable development along with the policies. The company’s success has been attributed to the increasing expansion of its CSR strategies across different regions and has improved the reputation of the firm as a sustainable company.
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Appendix
THAI BEVERAGE PLChttp://thaibev-m.listedcompany.com/newsroom/20180110_212455_Y92_54WI7E6GRKIC79DZ.2.pdf
Carroll’s pyramid of CSR
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