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.
Safeguarding the brand image and corporate reputation has become important as markets all over the world have become very competitive and image has become more vulnerable. The reputational risk in consumer markets has also made the companies shift their role as only profit maker for shareholder. Today’s consumers know that if they boycott the brands they use, it works. Product boycotts are associated with negative stock market reactions for the company and hence affect the image of the company both directly and indirectly. An example: Nike in the late 80s and early 90’s faced considerable negative publicity for slave wages, forced overtime and arbitrary abuse.
Lack of truthfulness by managements on all sides. According to the King 111 report and the Sarbanese Oxley Act, 1) the board should ensure that the company is, and is seen to be a responsible corporate citizen. According to the (IOD: 2009) the success of the company can be measured using various yardsticks that include financial performance as well as the impact of the company on the economy, society and the environment. Thus, according to the King III the company should protect, enhance and, invest in the welfare of the economy, society and the environment. The King III emphasised the fact that being a good citizen for the company imply formulation of an ethical relationship of responsibility between the company and the society within which it operates.
Industry leaders as well as corporate leaders nowadays are encompassing sustainability not just because they are socially responsible, but also because sustainability brings advantages and opportunities to be competitive on the market. The projects, as a form of corporate activities, are a beginning to be a dominating force throughout all industries. This generates the opportunity for project leaders to help organizations to integrate practices of sustainable development in order to achieve the their strategic sustainability goals throughout the whole manufacture chain from the practices used in production to delivering the end product. A vital principle of sustainability is an effective use of resource, which every great project manager must undoubtedly be concerned about. In this short essay I will conduct a short questionnaire study among project team members in our company in order to assess the level of awareness with sustainable development definitions and practices within the company.
Ethical leadership is related to employee job satisfaction by impacting a positive influence on employee performance (Resick et al., 2011). The ethical leadership also found to increase the intrinsic motivation and job responses (Piccolo, et al., 2010). The willingness of the employee to report any concern and problem also depends on the organization culture and leadership behavior (Brown et al., 2005). It is also studied that a leader with strong ethical traits can affect positively to task significance and autonomy of the employee job (Ruiz, Ruiz & Martinez, 2011). According to them, the followers have willingly perceived the good traits of their leaders and thus good moral, values are practiced in an organization that can shape the overall
Furthermore The company are is an example of how good human resource practices can propel a company through dynamic global conditions. At the turn of the 21st century Maersk found itself nearly crippled by growing changes in the marketplace. Facing a high level of attrition, Maersk brings on Maria Pejter as director of Maersk Group Human Resources department and Bill Allen head of Human Resources. Allen and Pejter were brought on to evaluate Maersk’s talent management and develop a more modern approach to the human resource problems faced by Maersk. Together Allen and Pejter rebuilt the companies company’s talent management process.
Impact of Sustainability accounting on Organization: Sustainability accounting is used to describe additional information management and accounting methods that aim to create and provide high quality information to support a corporation in its movement towards sustainability. Its reporting by contrast describe new formalized means of communication which provide information about organizational sustainability. Sustainability accounting and reporting is crucial for two reasons firstly, accounting information which is not communicate cannot exert any influence and is thus unable to contribute towards the sustainable development. secondly reporting is needed in order to substantiate information about the actual status and progress
CSR is closely linked to "sustainable development", in which there is an argument that a company in carrying out its activities must base their decision not solely based on financial factors such as profits or dividends but also must be based on social and environmental consequences for now and for the long term. Business ethics and corporate social responsibility are two issues that are often overlooked by business people because it is in this article will discuss how business ethics relationship with corporate social
The theory also proves that there is a relationship between strong corporate culture and organization performance or profits. The observation is that if the organization and its employees share a common culture the environment makes it easier to share common goals and to follow suitable procedures in achieving them. A collective culture also has positive impact on motivation in an
They proved that if social responsibility is managed effectively can create significant benefits, enhance the reputation, bring returns and motivate the employees. In the same framework, Husted and Allen (2001) stated that if corporate social responsibility used properly, it can create competitive advantages, as there is a positive relation between corporate social responsibility strategies and competitive