P&G's key stakeholders can be identified as customers around the world, suppliers, governments of the countries where they are present, surrounding pressure groups and the employees who work for them. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get an original essay Therefore, the responsibilities of the organization are high. P&G's values, purpose and principles provide insight into how the company has planned its strategy in accordance with its socially responsible attitude. P&G's 5 strategies cover products, operations, social responsibility, employees and stakeholders. Below 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 Community – Sustainable investors – Innovation for Success Consumers: Consumers are the highest priority stakeholders in Procter & Gamble's CSR efforts. Consumers are important in determining revenues and profits. Procter & Gamble satisfies interests through in-depth market research. For example, the company's external focus is on research regarding 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 companies. Relatedly, Procter & Gamble has corporate citizenship initiatives that employ a broader perspective on consumers. The goal is to identify consumer interests, even beyond the consumer goods market. This effort makes Procter & Gamble's corporate responsibility strategy comprehensive in meeting the interests of this stakeholder group. The company also wants to win the trust of customers. A related incident was the recall of Vicks Sinex Vapor Spray. The discovery of the B. cepacia bacterium was found in nearly 12,000 bottles of P&G Vicks nasal spray. All shipped orders had been collected. However, no illnesses resulting from its use have been reported. B. Cepacia does not carry many risks; however, it can be dangerous (can cause lung cancer) for people who have weak immune systems. Customers who had already purchased the product were told to immediately stop using the product and were given a refund token. This was a socially responsible action taken by P&G to restore the trust of its customers. Employees: P&G company considers employees as the second priority in CSR efforts. The interests of employees are career development and adequate remuneration. P&G's corporate responsibility programs address these concerns through training and related support. For example, the company trains employees to achieve higher levels of innovation and productivity. Motivation is also a significant factor. For example, HR programs aimed to motivate and inspire P&G employees to maximize business results. Additionally, the company's CSR efforts serve the interests of these stakeholders through HR programs for competitive compensation and leadership development. In China, P&G offered employees a new working hours policy. The policy provides that employees are given the opportunity to work five days, including one day from home. This step has been taken to ensure that the employees stay in the organization and enjoy italso enjoy much-needed freedom from work and spend quality time with family and friends. The policy is very popular with the employees who number almost 6000. Customers and suppliers: Customers are the company's corporate customers and business partners. On the other hand, suppliers are companies that supply the materials that Procter & Gamble uses to produce consumer goods and to maintain 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 consumer goods. Additionally, the company pursues its corporate citizenship goals by providing valuable insights that improve supplier processes and ensure supply chain stability. P&G aims to increase data collection and ability to work with key strategic suppliers to reduce its collective environmental footprint. One challenge for P&G is the number of potential suppliers it has to deal with because the ingredients in its products come from palm kernel oil in a secondary processing stage. This means that the company is purchasing already processed palm oil, which, at an earlier stage, was collected from different subcontractors, and therefore it was not possible to know exactly where it came from. Community: P&G company's CSR strategy assigns the fourth level priority to the group of affected communities. Communities are important because they influence corporate image and brand image. These stakeholders are interested in the contribution of P&G's consumer goods business to economic development and the environment. P&G's CSR strategy has an external focus that considers these interests. One of the company's main objectives 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 education and sanitation 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 interests of investors are the profits and growth of the Procter & Gamble company. These interests are taken into account in the company's corporate social responsibility strategy through constant innovation, considered the cornerstone of P&G's success. For example, research and development efforts aim to continuously innovate current products and develop new ones. And strategic CSR like the Shiksha program carried out by the company helps the company (investors) and also the people. These efforts ensure that Procter & Gamble's generic strategy and intensive growth strategies are met towards higher business performance for corporate responsibility, including sustainability. Please note: this is just an example. Get a custom paper from our expert writers now. Get a Custom Essay P &G, a giant in the consumer goods industry, is one of the most efficient companies on the global platform. P&G's success is largely attributed to its business strategies and management decisions. P&G also pays attention to the environment and tries to minimize losses/damages due to the manufacturing process. Systematically ensures that technologies are up to date and comply with all laws. and regulations, to ensure that our ethical responsibilities are respected. Comparing social responsibility activities.