CSR: Socio-Economic Responsibility

Lastly, since the economic model is business-like, the incentives for staff appeal to self-serving needs, which means the incentives are often materialistic or monetary (2004). Conversely, the voluntary spirit model appeals to the ideal of collaborative service toward a common mission

INTRODUCTION This report is going to consider the interdisciplinary approach as a solution to the problems facing the business world. The business world is competitive, full of uncertainty and is ever changing. Therefore, for a business to penetrate through the market or to come out as successful, it cannot focus or divert its strategy or solution to using one discipline to be successful. It is very essential that a business consider a variety of disciplines to make it in the business world. FACTORS THAT IMPACTS ON THE BUSINESS COMPETITION Every business has its rival.

With good reputation, it helps firms to create competitive advantage in the business environment. Thus, instead of focus on short-term profit maximizing or costs saving, firms should be stakeholder-oriented. A firm which is stakeholder-oriented focuses on the need of their stakeholder such as employees, customers, society and others who have a direct economic link to the firm (Habil, n.d.). Businesses that are socially responsible will avoid actions that may cause detrimental to stakeholders. They have greater concern on stakeholder well –being.

Davis (as cited by Khalidah, Zulkufly, & Lau, 2014) defined Corporate Social Responsibility (CSR) as “… the firm’s consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm. It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which stats that a firm can never exist In a vacuum (Khalidah et.

The actual genuine value of conducting business that inspires creativity, further cooperation and facilitates efficiency. Balancing people needs and long-term economic development as well as sustainable marketing these aspects lead to strength and faith in companies while they make use of less resources and funds. On an operational basis, sustainable marketing aims at making use of social evolution and customer behavior. This results to the achievements of long-established profit options. Finally, it is meant to provide services and goods through the management that is done in a responsible way.

In fact, a proper understanding of these factors helps organizations to identify potential business opportunities and threats in the international market (Baines et al., 2011). Huawei, being a multinational company is affected by the external business environment. As such the impact of the external business environment factors on Huawei’s marketing strategy are explained by the PESTEL Model as follows: 1. Political Factors Political factors include laws and legislations which are of great importance due to the fact that they enclose many aspects of a company policy. Through regulatory bodies, the government implements policies that affect businesses in various ways (Vrontis and Pavlou, 2008).

ABSTRACT The long term success of the investors not only depends on the narrow financial performance of the companies of whom share they buy but also on their efficiency to manage the ethical questions that will result in image of the company. Many organizations and business investors take this responsible investment as an obligation but with the changing industry scenario and with many Gen Y employees and owners entering the market this responsible investment is actually becoming the core value of the company and also the key reason for the sustainability and brand building of the company. The purpose of this paper is to view the following points: • Statistics on shareholders and investors preferring ethical/responsible investment • Instances of organization’s who invested in unethical industries and there consequences • How can ethical investment contribute to organizational sustainability The data collected and the analysis of the paper would be purely on the basis of secondary data. CHAPTER 1: INTRODUCTION What is Ethical

It is the firm’s obligation to evaluate in its decision-making processes the effects of its decisions on the external social system in a manner that will accomplish social benefits along with the traditional economic gains, which the firm seeks. It means that social responsibility begins where the law ends. A firm is not being socially responsible if it merely complies with the minimum requirements of the law, because this is what any good citizen would do.” A firm will not survive without the support of both the stakeholders and shareholders, thus the CSR proposes the indication which states that a firm can never exist In a vacuum (Khalidah et. al.). Volkswagen has Corporate Social Responsibility embedded into its company’s culture and values.

Siegel (2014:221 ) highlights the importance of the interdisciplinary aspect of responsible leadership given a debate about how responsibility should be defined, especially since any definition is heavily impacted by the context within which it takes place. While he supports the view that leaders are responsible only to shareholders to maximize profit, Waldman (2008:121 ) defines responsibility with a much larger scope that includes other stakeholders. The latter’s approach ties responsible leadership to disciplines rooted in stakeholder theory and indeed makes of the leader a champion of movements like corporate social responsibility, corporate social performance, and the likes (Maak & Pless,

Position: Companies and business people should be ethical Point 1: Being ethical in business strengthens the systems and relationships that support and sustain it Individuals, through corporations, have the right to amass wealth, but morality dictates that they do so ethically. Frist, principles of justice argue that unethical business practices, although may be legal, are unfair