There are 3 key perspectives that a company needs to take over their social responsibilities and these are inclusive of ensuring obligations in the society are met, being responsive socially and being responsible socially. NAB is an organization that deals with each of these in the best possible manner and this is how it ensures corporate social responsibilities as well as ethics. NAB acknowledges that there are several positive benefits of following social responsibility and maintaining ethics within its operations. These positive benefits as per the prospects of the company are inclusive of expectations of people, long term profits, ethics based obligations, image of people, appropriate environment, discouraging further regulation of the government and ensuring power and responsibility balance (Clarke and Boersma, 2014). These have been proven by the fact that the key objective behind CSR as per its reports in 2016 focus on creating and consistently delivering higher values to the stakeholders, consumer groups, employee groups as well as the communities.
The key beliefs of the company when operating its CSR and when trying to maintain its ethical principles lies in first having openness and honesty. The company takes ownerships and holds itself accountable for all its acts. The company is the expectation that collaboration and working in team is of benefit to the stakeholders. This has led towards making NAB treat all not only with respect but also with fairness as well. The company constantly values being simple, being fast and having efficiency based execution for whatever it has promised. The company’s strategy in CSR concentrate on pursuing an approach of balanced nature with every stakeholder as NAB realizes this helps in building relationships of trust (Date, 2015). The company from this perspective aspires to make sure that the influence of decisions regarding business over every stakeholder is an essential factor taken into consideration from the initial point. In the year 2016, the company has undertaken various business initiatives, environmental and community initiatives which have consistency with NABs CSR strategy deliverance. For successfully embedding CSR in the company, NAB has engaged in establishing a global council of CSR consisting of senior executive’s nominees and meeting each quarter (Elaine, 2010). The role is to facilitate agreement over the CSR strategy of NAB as well as its policies. The role further lies in setting and aligning the priorities of the group with regard to implementing balanced stakeholder approach.