Harvard Case - New Balance: Developing an Integrated CSR Strategy
"New Balance: Developing an Integrated CSR Strategy" Harvard business case study is written by Vesela Veleva. It deals with the challenges in the field of Marketing. The case study is 21 page(s) long and it was first published on : Jan 28, 2010
At Fern Fort University, we recommend New Balance implement a comprehensive and integrated CSR strategy that aligns with its core values and brand identity. This strategy should focus on three key pillars: Product Sustainability, Community Engagement, and Employee Empowerment. By prioritizing these areas, New Balance can strengthen its brand image, attract and retain customers, and drive sustainable growth while positively impacting the environment and communities it serves.
2. Background
New Balance, a leading athletic footwear and apparel company, faces a critical juncture. While known for its quality and heritage, it needs to navigate increasing consumer demand for ethical and sustainable products. The case study highlights the company's desire to develop a robust CSR strategy that resonates with its target audience and strengthens its brand image.
The main protagonists are:
- Rob DeMartini: New Balance's President and CEO, who recognizes the importance of CSR but needs a clear roadmap for implementation.
- The CSR team: A dedicated team tasked with developing and executing the CSR strategy.
- Consumers: Increasingly demanding transparency and ethical practices from brands.
3. Analysis of the Case Study
To analyze New Balance's situation, we can utilize the SWOT framework:
Strengths:
- Strong brand image and heritage
- Focus on quality and craftsmanship
- Loyal customer base
- Commitment to innovation and product development
Weaknesses:
- Lack of a clear and integrated CSR strategy
- Limited communication of existing CSR initiatives
- Potential for perception of lagging behind competitors in sustainability
Opportunities:
- Growing consumer demand for ethical and sustainable products
- Increased focus on social responsibility in the athletic footwear industry
- Potential for partnerships with NGOs and other organizations
Threats:
- Increased competition from brands with strong CSR credentials
- Potential for negative publicity if CSR efforts are perceived as insufficient
- Regulatory changes impacting manufacturing processes and environmental standards
We can also apply the Porter's Five Forces framework to understand the competitive landscape:
- Threat of new entrants: High, due to the low barriers to entry in the athletic footwear industry.
- Bargaining power of buyers: High, as consumers have many choices and are increasingly price-sensitive.
- Bargaining power of suppliers: Moderate, as New Balance relies on a diverse supply chain.
- Threat of substitute products: High, as consumers can choose from a wide range of athletic footwear and apparel.
- Rivalry among existing competitors: High, as the industry is dominated by large players with significant market share.
4. Recommendations
New Balance should implement the following recommendations to develop an integrated CSR strategy:
Product Sustainability:
- Develop a comprehensive sustainability roadmap: Define clear goals and timelines for reducing environmental impact across the entire product lifecycle, from raw material sourcing to manufacturing and distribution.
- Invest in sustainable materials and processes: Prioritize the use of recycled materials, organic cotton, and other eco-friendly alternatives. Implement energy-efficient manufacturing processes and reduce waste generation.
- Increase transparency and traceability: Provide clear information to consumers about the sustainability of products, including material sourcing, manufacturing processes, and environmental impact.
Community Engagement:
- Focus on local communities: Support local initiatives, partner with community organizations, and invest in programs that address social and economic challenges in the communities where New Balance operates.
- Empower employees to volunteer: Encourage employee volunteering and provide opportunities for them to make a difference in their communities.
- Promote social causes: Align with social causes that resonate with target audiences and leverage marketing channels to raise awareness and encourage participation.
Employee Empowerment:
- Create a culture of sustainability: Integrate sustainability into company culture and values. Provide employees with training and resources to understand and contribute to CSR initiatives.
- Offer competitive benefits: Provide employees with competitive benefits, including health insurance, retirement plans, and paid time off, to attract and retain top talent.
- Promote diversity and inclusion: Foster a diverse and inclusive workplace that values and respects all employees.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: The recommendations align with New Balance's core values of quality, craftsmanship, and community. They also support the company's mission of providing innovative and high-performance athletic footwear and apparel.
- External customers and internal clients: The recommendations address the growing demand for ethical and sustainable products from consumers and the desire for a positive and fulfilling work environment from employees.
- Competitors: The recommendations help New Balance differentiate itself from competitors by demonstrating a commitment to sustainability and social responsibility.
- Attractiveness ' quantitative measures if applicable: The recommendations are expected to increase brand loyalty, attract new customers, and improve employee morale, ultimately leading to increased revenue and profitability.
6. Conclusion
By implementing a comprehensive and integrated CSR strategy, New Balance can strengthen its brand image, attract and retain customers, and drive sustainable growth. The focus on product sustainability, community engagement, and employee empowerment will position the company as a leader in the athletic footwear industry and contribute to a more sustainable and equitable future.
7. Discussion
Other alternatives not selected include focusing solely on product sustainability or solely on community engagement. However, these approaches would be less effective in meeting the evolving needs of consumers and stakeholders.
Key assumptions include:
- Consumers will continue to demand ethical and sustainable products.
- The athletic footwear industry will continue to prioritize social responsibility.
- New Balance will be able to effectively communicate its CSR initiatives to its target audience.
8. Next Steps
New Balance should:
- Develop a detailed implementation plan: Define specific goals, timelines, and resources for each recommendation.
- Establish a dedicated team: Assemble a team with expertise in CSR, sustainability, and community engagement.
- Communicate the strategy to stakeholders: Share the strategy with employees, customers, investors, and other stakeholders.
- Monitor and evaluate progress: Track progress towards goals and make adjustments as needed.
By taking these steps, New Balance can successfully implement its integrated CSR strategy and achieve its goals of sustainable growth and positive impact.
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Case Description
"This case focuses on New Balance - a privately held company and the fourth largest athletic footwear manufacturer in the world. Founded over 100 years ago, New Balance has a strong social responsibility culture and mission established by its owners. Its commitment to employees, for example, was expressed through maintaining domestic manufacturing in the United States (the only large footwear manufacturer to do so presently) and avoiding layoffs in the deep recession of 2007-2009. In the late 1990s, the company established the Responsible Leadership Steering Committee to address human rights issues in overseas factories. Throughout the years, private ownership had allowed New Balance to take risks and make choices that publicly held companies might not have been able to do; at the same time, private ownership also meant lower pressures to disclose social and environmental performance. The owners were also very "humble" and hesitant to talk aloud about social responsibility. As a global player, the present challenge for the company has become to move corporate social responsibility (CSR) to the next level - from "doing what's right" to fully integrating CSR into the business strategy. The overall goal of the case is to use the provided information from a comprehensive company assessment to identify a few key areas where New Balance can focus on and demonstrate industry leadership while also supporting the bottom line. A set of key questions is included at the end of the paper to guide students' discussion around critical issues for building an integrated CSR strategy for New Balance, considering its culture, structure and present level of corporate citizenship management."
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