There are numerous ways for companies to increase firm performance, but positioning their brand would create competitive advantage (Ref). Corporate social responsibility (CSR) is a ‘Hot’ topic as sustainability is the current business trend in our global market. 1.1Background Electrolux (History) (Background information; CSR initiatives) 1.2Problem Discussion (How CSR impacts consumers thus brand image) (Positive brand positioning = competitive advantage) 1.3Purpose
Corporate need to engage with the stakeholders to develop a valuable Corporate Social Responsibility related actions. Stakeholders that are facing challenges and threats which are more likely with corporations on Corporate Social Responsibility related issues and corporations and stakeholders are most likely to succeed when a long term planning is embraced. Research has proved leadership’s main role in initiating and preparing Corporate Social Responsibility programs and initiatives within and across corporate. Leaders in global business are the first true responsible citizens, who have worldwide experience, capability and responsibility and hence their decisions affect economy and society. The main role of the leader in devolving corporation to sustainable social responsibility is complex, and it requires a different ways of leadership skills and competencies.
In Corporate Social Responsibility, firms at the same time deal with organizational goals and objectives and societal interests by being answerable for the impact of their operations and activities on different stakeholders.CSR is now having much significance and popularity around the world. Now a days, there has a great change as corporate world is giving more importance to societal interest and considering socio-economic a more important part of their business method as Corporate Social Initiatives help group wellbeing (Aids control programs), security (driving training, wrongdoing prevention), employment (employment preparing and training programs) and education (overcome illiteracy, workstation preparing) and environment and so
Later this idea turned into a big deal and directly resulted with growth of economics which showed enough power of that model. Corporate Social Responsibility, which is also known with its short name - CSR, is kind of a business model that is the combination of initiatives prepared to benefit from and take responsibility towards society which consists of employees, consumers and other service users. There are three types of CSR: environmental, philanthropic and ethical. Environmental method embraces the protection of livable environment, while the philanthropic method corporations donate some money or products to different organizations or people who are in need. Ethical type of CSR highlights the importance of responsibility on
STUDY OF SUSTAINABLE SUPPLY CHAIN The theory of corporate sustainability is said to emerge around end of the twentieth century. Prior to that maximization of profits was the sole aim of most industrial houses. At present, with rapid change in information technology, increased awareness among the public, escalating media attention, pressure from governments, environmentalist and civil society have compelled industries and large corporations to disown destructive and unethical practices. Stricter legislations and compliance regimes and pressure from concerned stakeholders have driven corporations to conduct their business in a way that is both sustainable and inclusive. The concept of sustainability becomes all more important in emerging economies
Identify the guidelines which can be used by business organizations to achieve favorable levels of supply chains. The multinational companies invest to achieve their strategic goals. In an era of economic downturn, do you think the business organizations should keep on investing in their IT infrastructure so that they can get optimum levels of sales, customer service etc. Support your answer with few real examples where information system might have played a pivotal role in this regard. Describe different approaches for inventory management taken by business organizations these days.
Introduction In today’s society Corporate Social Responsibility and issues related to social responsibility and sustainability are becoming more and more important, especially in the business sector. Corporate Social Responsibility can be explained as a corporate initiative to take responsibility towards the community for the company’s effects on social welfare and the environment. Nowadays, the increasing globalization puts a lot of pressure on companies and also creates fierce competition between large corporations. Due to this competition companies often choose for less expensive options, even if these choices involve unethical treatment of people in order to still make profit and to strengthen their companies’ position on the global market. For example, saving costs by outsourcing the manufacturing of their products to a third world country and letting hundreds of children work there under unethical poor conditions.
Audit exemption will mean that small businesses will be able to focus on the growth and employ greater number of employees, rather than to deal with the paper work. Reduction of unnecessary burdens of reporting, accounting and audit for small companies will put the UK on a path to sustainable, long-term economic growth, by making the UK one of the best places in Europe to start and grow a business (Audit exemptions for private limited companies, 2014). The purpose of the audit is to reduce the risk of misstatement of financial statements. The potential risk therefore of reducing the number of companies subject to mandatory audit is an increase in misstatement of financial statements. However the Government believes that this risk is manageable because the effects of such misstatement would not pose a systemic risk to the economy: systemically important companies, such as quoted companies and those in banking and insurance, will continue to be subject to mandatory audit.
2014) posits that countries who seek to implement corporate governance principles should monitor their corporate governance framework, including regulatory and listing requirements and business practices, resulting in strength and maintenance in its contribution to market integrity and economic performance. Studies has also shown that good corporate governance maximizes the profitability and long term value of the firm for the shareholders (Khumani et al, 1998). Banerjee et al (2009) also states that effective corporate governance is critical to all economic transactions especially in emerging and transition economies. Hence the need to develop good corporate governance in countries has become
To formulate effective strategic policies are the need of the hour and it become necessary to adopt such instruments so that corporate social responsibility can be best implemented towards goals- sustained environmental, social and economic growth. Above case study tells that Reliance Industry is fulfilling its Social responsibility in an efficient manner thus benefitting million of people belonging to almost all the sections of society. Reliance has largely concentrated its efforts to construct different regimes of the