A mission statement defines the company purpose. The mission describes the purpose of the company business, what the company stands for and address the needs of the customers, employees, stakeholders, their suppliers and community. A successful mission statement should be both engaging and memorable. Wal-Mart Vision Statement Wal-Mart original mission was to save their customers money. Their current mission is not only important to their customer but to their employees around the world.
Due to globalisation, there is an increase in competition, consumers want good price, good product but also associate themselves with socially responsible and ethical organisations. Globalisation has set a standard of business behaviour which all organisaions have to consider if not they risk ending up as Enron, WorldCom or Sunkill (Crowther and Aras, 2008). Overall, what Walmart could do is implement an ethic code which shall respond to the needs of each of its stores regardless of where they are situated. This would help employees in situations whereby making ethical choices are not readily apparent. An integral code of ethics will also reduce subjective and inconsistent management ideals.
This balance is essential to maintain and and enhance. If you have a happy working crew and a happy customer basis the more influential your business will be in your industry. Strong CSR also differentiate you from all of the other business organizations out there just like yours. Keeping a happy business with a strong sense of corporate social responsibility will increase the media interest in you and help you establish a good reputation in places beyond the confines of your community, henceforth inspiring and motivating more business organizations to follow your
Constant flexibility and adaptation are one of the most important elements of success for the company on a client-specific level. What are some other values that describe not only the culture of the business organization but also the way One Smooth Stone delivers quality to its clients? Ledogar describes the three main values the One Smooth Stone holds the entire company’s motto is “Smart, Fast and with Kindness.” The other values that are important to the company include mutual trust, hard work, and the freedom to think outside of the box, so they can get the job done the right way and have fun doing it. But if you are looking for examples of smart, fast and with kindness. Smart is being able to get the best resources, applying the best techniques to your project and choosing the strategy in what you’re presenting to the performance of your client.
They help in the communities in every way possible by doing activities that will benefit the community they are active in. They also give social support likefinancial assistance and advice. They comply with human rights and the labor laws. They have social equity because they give their communities equal opportunity, in a safe and healthy environment. They take care of the environment because that is where their businesses are based and they need a good image and want to ensure that the area is safe for their consumers.
The suppliers also conduct business fairly and ethically, respecting human rights and comply with the rules and regulations. To this extent, Ecolab is expected as well in doing business well and respecting human rights and apply with the rules and regulations for fair business between them. 2.) Customers – Customers expects a lot from a business from quality to quantity, they also influence the business by their purchase power and feedbacks. Ecolab prioritize their customer’s safety with their products and services, they ensure to provide high quality with a reasonable price to satisfy their customers and give them direct approach by community
Business ethics consists of trustworthiness, respect, caring, citizenship and responsibilities. Ethics is very important for organization because organization have different ethical behaviors like employee commitment comes from employees who believe their future and are keen to make sacrifices for the organization. Company’s social responsibility is to maximize its positive force and to minimize its negative force. The ethical responsibilities adopted by Cadbury Schweppes have been proven beneficial which is reflected by high productivity ratio and low employee turnover. Britney, Joubert, R., Kiggundu, E. and Van Rooyen, J.
Furthermore, there are some benefits that can help the company to increase the market value. First of all, with the triple bottom line reporting, the business can improve the risk management through enhancing the management systems and the company can have better business planning as the risks are understood. Triple bottom line reporting helps to ensure the company is embedding the corporate governance and acts ethically not only on the Board level, but also on the whole company. Although it cost time to train the staff and need more time for the preparation work about the triple bottom line reporting, the staff and the shareholder may have more confidence on the business that the organization are focused on the social contract and ensure they survive in the coming future ethically (Department of the Environment and Heritage 2003). Corporate social responsibility is embedded in the social contract and most of the company.
Feelings, affection, aspirations, desires and wants of the family members become the basic criterion for decision making. Decisions are normally taken by heart. Such decisions may prove to be the best for having smooth and healthy relations in the family and to protect the family virtues but may prove to be disasters for the business. Now, if we consider business management, it resembles more to the capitalistic approach where there is complete freedom to the persons working in the business to manage his or her assigned task. They too will be efficient since they will take rational decisions to improve their economic well being.
Rewards can be monetary as well as non monetary. Similarly the recognition they receive from bosses, team members, coworkers and customer enhance the job satisfaction thereby reducing turnover. Reward and recognition gives the employees an impression that they are valued in the organization. 9) Leadership: The most critical idea for staff retention and commitment depends on an effective leadership setup in the company. Leaders help in keeping the culture and team building of the organization intact.