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Corporate Social Responsibility in Greece: The

COCO-MAT SA Case Study
Nicholas Nagopoulos#1, Kostas Rontos#2, Christina Pantazidou*
#
University of the Aegean, Sociology Department, Greece
1
[email protected]
2
[email protected]
*
University of the Aegean, Greece
[email protected]

Abstract – In recent years, companies have increased organizations – as opposed to diffused and volatile
the role of Corporate Social Responsibility in their relations among unorganized individuals, makes each
activities. Progressively an increasing number of organization a sociological unit of significance
companies show to be concerned about their comparable to a biological organism (J. March & H.
performance on this subject and about reaching their
Simon: 1993, pp. 79-106). The simplistic and
objectives involving CSR. The eeffectiveness of
reductive practice of these entrepreneurship forms
investment ventures does not contradict social welfare
and inclusively enlarges the importance of the concept that ignore the complex issues of best management
of collective profit. In this way, CSR has also become practices and satisfaction of the workforce has
part of the same strategic business planning. Companies equated objectives with short-term profitability and
shall have self-regulating mechanisms to monitor simply tried to impose the adaptation of the human
responsibilities and to guarantee that ethical standards factor on the imperatives of technological rationality.
and international norms are assured. In this paper the
case of COCO-MAT, SA (Greece) is studied, working Initially, radical changes in the process of
on the concept of CSR and dealing with the purpose of mass production aiming at maximizing profit did not
getting a positive impact on areas such as environment, only remained indifferent in new forms of human
consumers, employees or communities. misery, due to the acceleration of production factors,
Keywords – Corporate Social Responsibility, Sustainable but also unprepared to follow new developments in
Development, Environment, Communities, COCO-MAT SA. the field of technology, information and their impact
on society, labor relations and the environment,
1. Introduction which demand a reconfiguration of relations within
organizational business structures. In this way, the
According to a basic principle of modern
openness of enterprises was in the service of an
programmatic strategic planning, we should not
economic theory which placed emphasis on
ignore that every business, as productive-economic
increasing business efficiency through a uniquely
entity, along with the profit, seeks to attain, to
maximizing entrepreneurial process, without giving
involve and to retain all these components that
particular importance to the fact that decision-making
determine any other form of social organization. In
process as a collective activity serves as a balancing
this sense, the efficiency of entrepreneurship in a
mechanism for both participants in organizational
given organizational environment serves apart from
structures and the broader social and environmental
efficiency and sustainability, basic social needs and
conditions. For example, issues related to workplace
aspirations, so that firms become organizations of
discrimination and the quality of working life, as well
individuals interacting and constitute the most
as abusive practices of many enterprises, contributed
numerous groups on a social level corresponding to
to a growing exacerbation of problems.
systems of coordinated and organized action.
Furthermore, prolonged exploitation of natural
High level of specialization - which
resources, incalculable environmental consequences,
characterizes the structure and coordination of
as well as enormous social and regional disparities
____________________________________________________________________________________
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Int. J Latest Trends Fin. Eco. Sc. Vol‐3 No. 2 June 2013

increased skepticism on the unimpeded growth and which companies decide on a voluntary basis, to
the unregulated sector of entrepreneurial activity. In contribute to a fairer society and a cleaner
view of all these dangers, there has been a need to environment. In fact, based on this assumption, the
redefine the concept of business profit so to minimize company management cannot/ should not be guided
any negative consequences on social cohesion and towards the only fulfilment of interests of the owners
the preservation of ecological balance. of the company, but also of other stakeholders’
interests (employees, local communities, customers,
Considering this, Corporate Social suppliers, public authorities, competitors and society
Responsibility (CSR) got a very relevant role in the as a whole).
organizations and nowadays is important enough to
make that organizations put very challenging Within this context and with a view to
objectives in this area. Many companies feel, in fact, redefining key priorities, there has been a need to
a strong need of commitment with society and move towards an extended nature of the business
environmental concerns. This concern is discussed in beyond the idea of a purely economic entity and
this paper about a Greek company and some gradually incorporating an array of responsibilities
interesting ideas result from the analysis. towards society, confirming its socially responsible
role and the fact that is constitutes an integral part of
2. Social responsibility and the society in which it operates. From a historical
Partnership point of view, this is clear in periods of intense
economic crisis, when large entrepreneurial units
In the process, business issues as attempt – within the general unfavorable climate
organizations have begun to be viewed through the crisis – to violate the rules of fair competition and
changes imposed by the introduction of the scientific implement antisocial practices.
strategic planning to manufacturing and labor
relations. In this way, a different meaning has been In an effort to protect the citizen and the
given to the demand of performance (products, consumer from unrestricted, unrestrained profitability
services), efficiency and organizational behavior, of large enterprises that often circumvent social rights
while an effort has been made to limit the negative and authorities, pressure was exerted so that
impact on both the internal (labor relations) and protective rules and regulations would be adopted.
external business environment (social and This pressure was accompanied by the argument that
environmental conditions, institutional status). (D. a company could not be assessed only by the quality
Bourandas, 2002). and cost of products and services it offers but also by
the way it manages issues of social and
The attempted change in the entrepreneurial environmental nature. Both reactions against the
goals of Corporate Social Responsibility is associated unrestricted, unrestrained profitability of large
to the finding that the effectiveness of investment enterprises and the pressure exerted have resulted in
ventures does not contradict social welfare; on the restricting very powerful enterprises through antitrust
contrary, it contributes to the concept of collective laws, banking regulations and protective legislation
profit in it. In this way, CSR has also become part of for consumers. Furthermore, it has led to a growing
the same strategic business planning. awareness of social responsibility governing the
entrepreneurial environment and utilizing the power
Over the time it has become conspicuous that of enterprises for social and voluntary purposes
socially responsible activity is limited neither to beyond making profit.
philanthropic activities nor the acceptance of legal
obligations within the context of entrepreneurial Over the years, the concept of Corporate
business correctness; it is to satisfy all critical factors Social Responsibility has gained great importance,
inside, such as human resources, labor relations and a and its integration in the entrepreneurial policy is
range of factors related to consumers of products and getting more and more necessary. Businesses have
services, suppliers, shareholders and the local gradually realized that their increased productivity is
community itself as a whole. connected with social responsibility shown by
contributing to local, social and economic
In Europe, for example, the 2001 European development and quality of life.
Commission Green Paper presents the
conceptualization associated with the idea of social
responsibility that concerns the situation according to
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Focusing on changes related to the employment demands and meet established social
infrastructure of enterprises concerns activities that values without violating them, they can reasonably
take place within the company and contribute to aim at long-term financial investment and profit
proper management and human resource performance on the part of the businesses (H. R.
development, satisfaction on the part of management Bowen, 1953, p.6, K. Davis, 1960, p.70). In fact,
and employees with increased rights of participation, social and environmental concerns become measures
information and negotiation. Another important and policies from one company on a voluntary basis,
factor is the provision of a healthy and safe working in cooperation with other stakeholders.
environment that ensures the prevention of
occupational accidents, equal opportunities and the Of course, these shifts are made according to a
harmonization of work and family life. At the same specific perspective, a modern advertising strategy,
time, fair recruitment procedures are ensured, as well that aims at creating a new identity that will be more
as reward systems are developed that provide attractive and acceptable from society, since by
facilities for staff and their families, along with those evaluating the product the consumer also evaluates
required by law. Moreover, company training and the business itself, mainly in terms of its social
professional development of staff is a major concern profile, i.e. its total contribution to ensure balanced
of a socially responsible company, so that employees social and environmental conditions. This reality is of
maintain or improve the level of their skills whose paramount significance in strategic business planning,
immediate effect is a better performance. because it great results by increasing the number of
customers and profitability. This can be identified as
Moreover, as far as the impact on external a social dialogue platform that is closely connected
environment is concerned, actions have been with a balanced approach to the concept of
developed that go over beyond the boundaries of the sustainable development, according to which a
enterprise, such as local communities, suppliers, company is viable and competitive in long run if it is
customers, NGOs and the environment (O. cost-effective and efficient, minimizes negative
Kyriakopoulos, 2004: 73). The implementation of environmental effects and acts taking into account
quality systems in the production process, credibility both the society – where the business is located - and
towards consumers in connection with investment in its expectations for the future.
research and social development creates stability and
trust relations, as most products are now adapted to The company is thus becoming a key
some identified social needs. Moreover, the company instrument of social progress, technological
can develop synergies with local communities and development, as well as education and change, which
actively participate in designing development must follow socially acceptable procedures or
prospects relevant to business (chambers, “business ethics” worded with consistency and social
associations), social (civil society) and natural compatibility. This means that owners, employees,
environment (environmental associations). customers and generally everyone associated with the
Participation in all of these sectors highlights the business must accept specific business ethics codes
social profile of the company, its reputation and that will describe any operational activity and
ultimately offers multiple benefits both for it and behavior and change according to the occurring
society in general. demands or the place where the company operates.
Changes in a new environment of social adaptations
3. From corporate philanthropy to may be the result of mild regulations on new business
sustainable development: Codes of demands or wider balances in entrepreneurship (K.
Sahlin - Andersson 2006 (balancing act), (P.G.
business ethics Lantos 2001).
Over the last twenty years, CSR has been
The “business ethics codes” are perceived and
studied as an administrative process and has begun to
implemented in different ways depending on the type
establish itself as a political culture being widespread
property of each company (private - public) and its
in the business world. Some companies have had the
legal form (sole proprietors or companies). Based on
opportunity to enhance their social profiles and to
this rational, the notion of “Corporate Social
connect their business activity with a new kind of
Responsibility” (CSR) emerged, which is not limited
strategy of linking business objectives with ever
to statutory rules of law, but extends to the need of
increasing and changing social expectations. As these
developing a “Business Ethics Code”.
commitments and obligations serve social needs and
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“Responsibility” refers to the obligation of companies supports research and development and encourages
to pursue policies, make decisions and develop innovation. The company also has the responsibility
activities that are consistent with the goals and values to monitor technological advances, to improve its
of the society (H. R Bowen H. 1953). competitiveness, to modernize its production
processes and to innovate its products or services.
Among other things, the company has an
obligation to respond consistently to its statutory Compared with other European and
obligations and to contribute to the corruption international standards, CSR has not been developed
combating, corruption that leads to market distortions extensively in Greece. There are several companies in
and that harms the community. At the same time, it Greece that implement special CSR programmes.
retains the right to pursue transparency, However, it is estimated that only 10% of Greek
trustworthiness and reciprocity in state relations with companies have a comprehensive strategy for CSR,
citizens and other businesses as well as the effective while in Europe the same figures are at much higher
protection of justice. levels. It could be said that social responsibility
policies are mainly drawn upon high-turnover
Furthermore, it encourages the growth of companies and multinational companies.
employment, since it claims from the state an
effective social protection network that aims at short There is a special department in these
reintegration of the unemployed in the market itself, enterprises which is in charge and manages CSR
contributing to job creation through implementation issues. On the contrary, the integration of CSR
of a merit-based performance, promotions and principles in SMEs remains particularly restricted, as
payments system, by ensuring good and safe working in these companies competitiveness is low, while
conditions with equal rights and opportunities. basic priority is sustainability and short-term profit
Moreover, the company has the right to claim from (M.K Tzivara, 2007). In fact, as far as in what Greece
the state to protect its reputation and receive objective is concerned, the limited implementation of CSR
treatment on the basis of real and confirmed facts. On principles can be understood by the fact that fewer
its part, the company provides honest information and than 10% of companies operating in the Greek
advice to those who deal with it, respecting consumer market are big enterprises, run by professional
rights by providing safe and quality products and managers, prepare social accounts and have the
services at competitive prices. ability to synchronize and adapt to changing
conditions, thus resulting in a globalized economy
4. The European Policy on CSR. The environment.
Greek Case
In Greece, a Network for Corporate Social
At an European Union (EU) level and as an Responsibility has been developed, which identifies
attempt to include the definitions offered for CSR1 as “a voluntary commitment on the part of the
Corporate Social Responsibility (CSR), the EU companies to include in their business practices
incorporates social and environmental concerns in social and environmental activities that are beyond
organizations’ business activities on a voluntary basis those imposed by law and related to all those directly
and in their interaction with their stakeholders, as or indirectly affected from their activities”. Until now,
they realize that responsible behavior leads to the Greek Network consists of 135 member
sustainable business success. Furthermore, Corporate companies and 8 operators with major activities
Social Responsibility relates to the change of related to networking with relevant international
company attitude towards a socially responsible bodies, developing campaigns to promote corporate
manner and a lasting contribution to society and with social responsibility, conducting surveys and creating
a steady impact on society. This can happen when a information materials, organizing workshops,
company seeks to reconcile various stakeholders’ participating in European programmes and
demands and needs, while achieving a balance cooperating with public bodies.
acceptable by all sides (COM (2001) 366), (2002)
347). COM (2011) 681. It should be noted that only a few number of
companies can be discerned with a high level of
Within the European context, the company is
entitled to an individual national and European policy 1
http://www.csrhellas.org/portal/index.php?option=ozo_con
that effectively protects intellectual property, tent&perform=view&id=183&Itemid=136&lang=
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maturity in integrating CSR principles and codes social responsibility, aiming at focusing more on
(notably in the financial sector, in environmental protection, the promotion of equality,
telecommunications, media and groups in certain all at work and social care (C. Pantazidou, 2009).
industries), while most companies mainly support
charitable activities, cultural events and sponsorships There is a separate sector of Corporate Social
mainly involved in public relations’ strategies and Responsibility (CSR) in the company, but the person
less in corporate responsibility. To all these responsible for the systematic practice of CorCSR)
difficulties of CSR implementation and spreading, since 2001 is also Head of Totally Quality
bureaucratic crunches and weaknesses in creating Management (TQM). The company has clearly
organized structures of social and political debate specified to its employees and customers the values
should be added, factors that rather discourage the and rules of conduct related to Corporate Social
implementation and strengthening of CSR principles Responsibility through presentations in order to
in Greece. develop a common vision. Its participation in
conferences or other collective initiatives (local,
The lack of maturity level of CSR in most national, sectoral, etc.) relevant to the promotion of
Greek companies, which practically means not Corporate Social Responsibility is continuous, since
incorporating CSR activities in the applied strategy it tries to remain informed and active in CSR
and corporate culture is often due to ignorance and practices. A very important element showing the
lack of knowledge of both its existence and medium- company’s awareness of social and environmental
long-term positive effects brought about by its issues is that the COCO-MAT SA is an active
implementation. member of the Greek Network for Corporate Social
Responsibility (CSR) and its activities are referred to
5. A Case study: COCO-MAT S.A. the ‘List of Best Practices for SMEs” Network for
CSR.
COCO-MAT S.A. is a Greek-Dutch company
with franchise stores all around the world. The As discussed above, the company has
Athens branch was founded in 1989 and initially encountered no obstacles in the implementation of
operated in the production of mattresses made of corporate social responsibility (CSR). Instead, the
natural materials. Its brand name cognates from the benefits received and collected by COCO-MAT,
word COCO, namely the coconut used in the while implementing such practices, have been clear
production of mattresses in Greece for the first time, from the outset: “The Company has served as an
and from the word MAT, namely mattress. In 1992 example for all companies and established close ties
the company headquarters moved to the Industrial with its customers, after having satisfied their needs
Area of Xanthi (Northern Greece), which factory and demonstrated its respect for the environment and
premises currently produce a wider range of products, the values it stands for”. Additional benefits are the
such as mattresses, pillows, furniture and linens. The satisfaction of the society, the recognition of the
company employs approximately 220 people. company as a model of social contribution, the
increase of productivity, the reduction of costs and
From the very beginning, the company the confidence of its employees in it.
developed a quality policy and has been participating
in the EFQM Business Excellence Model since 1997. Thus, there is a continuous effort on the part
The policy of COCO-MAT SA is based on of Administration to provide growth prospects, ideal
sustainable development and focuses on four main working conditions and shorter working hours.
areas: Additionally, employees receive a large number of
privileges, such as continuing education, ability of
 the ecological quality products, staff to take an interest-free loan from the company of
 customer satisfaction, around 3,000 euro, encouragement to use the
 employee satisfaction and company’s products that they themselves produce,
 social contribution (COCO-MAT, 2009). buying them at special prices or with non-interest
payments. Furthermore, it is important to recognize
From very early, the company oriented itself and reward personal achievements of staff in the form
towards social service in the 1990s, when the concept of salary bonuses, promotions and gifts, as well as by
of Corporate Social Responsibility was still at a very organizing events with a special award to employees
early dissemination stage in Greece. From the very with outstanding offer to the company.
beginning, the social work practice included some
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Int. J Latest Trends Fin. Eco. Sc. Vol‐3 No. 2 June 2013

What is important is the fact that employees in assigned them important responsibilities, so that a
the company can express their views on labor issues large proportion of these people have managed to
affecting them through relevant forms, so that their reach high hierarchical positions.
views are taken into account in the formulation of the
strategy and design of COCO-MAT SA. For people Moreover, since its first steps the company
with “special needs” who are employed in the COCO-MAT SA has developed a policy with a focus
company, special facilities, such as a specific number on quality and participates in the EFQM Business
of hours or days of work per week, are provided, Excellence Model since 1997. In addition, the
depending on their needs and abilities. Additionally, company implements a Quality Management System
this group of employees is encouraged to participate and an Environmental Management System, which
actively in the process of customer service. were designed and operated based on ISO 9001:2000
and ISO 14001 standards respectively. Within this
As far as education and training opportunities context, the company is environment aware, so it
for workers of COCO-MAT SA are concerned, these implements various policies to reduce environmental
are provided on an ongoing basis through effects. The common practice is not to use chemicals
organization of training seminars and encouragement throughout the production process. The raw materials
for further academic education. Moreover, the used in the products of COCO-MAT SA are natural
company organizes special training courses which are ones, and their use for the production of environment
monitored by the heads of departments, the managers - and human-friendly products is a matter of principle.
of stores and all employees. Furthermore, the head of For example, some raw materials that are the basis
each department organizes hourly lessons once a for its products are:
month, so that employees are aware of the arising
challenges and needs. Certification of improvements  coconut (fibers that surround the coconut
is controlled through the electronic database of the after suitable treatment are combined with
company. natural rubber to create a resilient coconut),
 natural rubber (the sap of the tree, called
Among the immediate priorities of the HEVEA, after processing into a foamy layer
company COCO-MAT SA are the implementation of of natural rubber),
policies for the protection of human rights and their  wool and cotton (coming from Thrace
opposition to any form of discrimination in the (Greece) and considered to be the best in
workplace. The company management recognizes the terms of quality due to the unique climatic
diversity of people, so it does not use tight criteria in conditions and the composition of the
hiring new employees. “What is mainly examined are subsoil),
morals, personality, energy, environmental awareness  seaweed (used in order to offer additional
and consistency of prospective employees, of course, iodine to people with asthma and respiratory
without ignoring the qualifications of each candidate, problems),
such as education, knowledge, professional  horsehair,
development and experience”.  linen,
Therefore, the main company policy is to  feather, and lately
provide equal opportunities for all employees. It  activated carbon.
should be noted that COCO-MAT SA has
Dedication to maintaining ecological balance
accomplished a great and commendable first position:
is also evident by the fact that the purity percentage
more than 40% of all employees are refugees from
of the natural rubber produced in the company comes
the former Soviet Union and Turkey, which proves
up to 96%, something which COCO-MAT SA boasts
the company’s interest in vulnerable groups of
of as an exclusive feature. Furthermore, concern is
foreigners in our country, helping to address racial,
expressed for the health of people by producing
religious and ethnic discrimination. Concern for
environment - and people-friendly products,
equal treatment of all citizens is also expressed by
including packaging. Even packaging materials used
hiring people with “special abilities” and people from
for the company’s products are recyclable (transport
large families. It is characteristic that almost 10% of
of mattresses in cotton pouches) and are collected by
COCO-MAT SA employees are disabled. The
the company upon delivery of products to the
management of the company has shown right from
customer in order to recycle them. It should also be
the beginning confidence in these individuals and has
mentioned that the prospectus of the company “Delta”
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is now diffused 100% online, so that there is minimal the elderly and refugees. In this project, the company
environmental damage caused by printing brochures. collaborates with many local organizations, non-
governmental and other organizations.
In 1998, COCO-MAT SA designed and
implemented a programme aimed at using less plastic. 6. Concluding Remarks
Furthermore, the plastic that has already been used in
the production process of the company is collected This paper studies CSR and its importance in
after its use and sent for recycling. The same happens the new general context of companies, as well as a
with the paper used for the needs of production and specific case in Greece dealing with the concerns of
administrative needs of the company. In addition, the this company on this subject. Responsible corporate
company continued its campaign in order to ban the governance combined with sustainable development,
use of plastic by running a programme which title is a modern and socially acceptable expression of a
was “2004 without plastic.” For this purpose, it new organizational culture of enterprises. In this
proceeded to the replacement of plastic mattress case framework responsible corporate governance is at the
with fabric and to the transportation of furniture in heart of a company's strategic planning and
wooden boxes. In addition, 100% cotton bags are contributes to the fulfilment of broader needs arising
now manufactured, which are distributed for free through the demands and the needs expressed by civil
along with the list of COCO-MAT, and since 1998 society. At the same time, the concept of financial
until now almost 650,000 bags have been distributed. and business benefits is re-identifies and the long-
term profitability of the enterprises is ensured.
The environmental impact of the operation of
the central factory of COCO-MAT SA is In this way, the adoption of these principles
continuously reduced to a minimum. For example, refers to a variety of stakeholders who affect or create
the wastewater of the factory is only those of the staff a new development model in accordance with the
and the usual cleaning. In addition, the company public interest (public bodies or bodies of local self-
operates the factory in the industrial area of Xanthi, government). On the other hand, both employee and
in the industrial park E.T.V.A (Greek Bank of citizen groups are affected by this type of business
Industrial Development), where the infrastructure is activity that enhances the quality of life of local
such that it allows the company to produce without societies.
burdening the environment with industrial noise.
Machinery company is certified with the CE mark The case study we are considering in this
and a special low-noise in operation by the level of paper demonstrates that the pursuit of profit can and
noise allowed by existing laws. Moreover, the plant must be compatible with the adoption of principles of
of the company has no chimneys to avoid polluting entrepreneurship that ensure the quality of products,
the environment. Finally, it is important to refer that the position of workers in the productive process and
COCO-MAT SA uses gas for its cars and factories. the wider social and environmental objectives

Finally, of particular importance is the This company, COCO-MAT SA, integrates a

environmental awareness that COCO-MAT SA CRS perspective in its business core as a strategy for
demonstrates, which is also reflected by its creating an image and promoting the company in the
participation in relevant conferences and events, by communities and society as a whole, considering
its sponsorships to environmental organizations, etc. sustainable practices but also seeing this way as an
Typical examples of activities are tree planting approach to keep it ahead in the long term. COCO-
activities organized from time to time and cleaning MAT SA is concerned with a set of ways of
rivers and beaches. During the 20 years of its contributing to the collective welfare on the society,
operation, the company has won major awards for its to the interests of the communities and to the
environmental awareness. In addition, the company environment.
ensures that the activities undertaken reflect social
Finally, the study shows the importance of
needs and expectations. Thus, it provides financial
business ethics and the respective impact on
support for activities and programmes of the local
organizational structure in companies as well as the
community, by sponsoring sports’ clubs, clubs in
importance of a set of items in the relationship with
general and cultural events. Furthermore, it finances
stakeholders, both internal and external, to the
ecological activities, campaigns and people with
companies.
special social needs, such as flood and fire victims,
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