The main stakeholders of P&G can be identified as their customers around the world, suppliers, the governments of the countries in which they operate, the lobby groups around them and the employees who work for them. Say no to plagiarism. Get a tailor-made essay on “Why Violent Video Games Should Not Be Banned”? Get an Original Essay Therefore, the responsibilities of the organization are high. The values, purpose and principles of P&G give the analysis of how the company has planned its strategy in accordance with a socially responsible attitude. P&G's 5 strategies concern products, operations, social responsibility, employees and stakeholders. Here are the stakeholders and their priority levels in Procter & Gamble's corporate social responsibility strategy: Consumers – Customers are the boss Employees – Inspire and motivate customers and suppliers – Mutually productive relationships Communities – Sustainable investors – Innovation for success Consumers: Consumers are the highest priority stakeholders in Procter & Gamble's CSR efforts. Consumers play an important role in determining revenues and profits. Procter & Gamble satisfies interests through in-depth market research. For example, the company's external focus involves research into consumer preferences and needs. The resulting data is used in the development of Procter & Gamble's corporate social responsibility programs, such as sustainability programs based on consumer preferences for sustainable businesses. In this context, Procter & Gamble is leading corporate citizenship initiatives that take a broader perspective on consumers. The aim is to identify consumer interests, even beyond the consumer goods market. Such efforts make Procter & Gamble's corporate responsibility strategy comprehensive by satisfying the interests of this stakeholder group. The company also wants to gain customer trust. One incident related to this was the recall of Vicks Sinex Vapor Spray. The discovery of B. cepacia bacteria was found in nearly 12,000 bottles of P&G's Vicks nasal spray. All orders shipped had been recalled. However, there have been no reported cases of illness following its use. B. Cepacia does not carry many risks; however, it can be dangerous (can cause lung cancer) for people with weakened immune systems. Customers who had already purchased the product were asked to immediately stop using it and given a refund token. This is a very socially responsible action taken by P&G to restore the trust of its customers. Employees: P&G considers employees the second priority in its CSR efforts. Employee interests are career development and adequate compensation. P&G's corporate responsibility programs address these interests through training and related support. For example, the company trains its employees to achieve higher levels of innovation and productivity. Motivation is also an important factor. For example, HR programs aimed to motivate and inspire P&G employees to optimize business results. Additionally, the company's CSR efforts satisfy the interests of these stakeholders through competitive compensation and leadership development HR programs. In China, P&G proposed a newworking hours policy for employees. The policy is that employees have the option to work five days, including one day from home. This step has been taken to ensure that employees remain with the organization and also enjoy the much-needed freedom from work and spend quality time with family and friends. This policy greatly pleased the employees, who number nearly 6,000. Customers and suppliers: Customers are the company's client companies and commercial partners. On the other hand, suppliers are companies that provide the materials that Procter & Gamble uses to manufacture consumer goods and maintain its business processes. These stakeholders are interested in a growing and mutually beneficial relationship with the company. For example, one of P&G's corporate responsibility goals is to provide guidelines that customers can use to maximize the benefits of using P&G's consumer goods. Additionally, the company meets its corporate citizenship goals by providing valuable information that improves supplier processes and ensures supply chain stability. P&G aims to increase data collection and the ability to work with key strategic suppliers to reduce the collective environmental footprint. A challenge for P&G is the number of potential suppliers it must deal with, because the ingredients in its products come from palm kernel oil at a secondary processing stage. This means that the company buys already processed palm oil, which in a previous step had been collected by different subcontractors, and it was therefore impossible to know exactly where it came from. Communities: P&G's corporate CSR strategy assigns fourth priority. at community stakeholder group level. Communities are important because they influence company image and branding. These stakeholders are interested in the contributions of P&G's consumer goods businesses to economic development and the environment. P&G's CSR strategy has an external dimension that takes these interests into account. One of the company's main goals is the use of renewable energy. For example, the company ensures the sustainability of its products, packaging and operations to minimize environmental impact. The strategy also supports hygiene and sanitation education programs in communities. Additionally, the P&G Fund provides financial support to nonprofit organizations and community development projects through the Great Cincinnati Foundation. Investors: These stakeholders significantly influence the market valuation and capital of the consumer goods sector. The investors' interests are the profits and growth of the Procter & Gamble company. These interests are reflected in the company's corporate social responsibility strategy through constant innovation, considered a cornerstone of P&G's success. For example, research and development efforts aim to continually innovate current products and develop new ones. And the strategic CSR program like Shiksha implemented by the company also helps the company (investors) and people. These efforts ensure that Procter & Gamble's generic strategy and intensive growth strategies are implemented towards higher business performance in corporate responsibility, including sustainable development. Keep in mind: this is just a sample. Get an article now.