...specifically consumers, are becoming increasingly empowered and vocal, forcing businesses to review their strategies. Also, the media is bigger so any unethical stories will be greatly publicised. If enough people then stop buying from a business then a business will go bust or will be forced to change. Therefore, businesses care about the perception consumers have of their businesses, resulting in ethical business practices. * Businesses have a legal requirement that their products are safe and they contain appropriate guidance for their use. If not, the business must take responsibility (i.e. if someone gets hurt) * For example, Shell was the focus of consumer criticism over the sinking of the Brent Spar, so they bowed to consumer pressure and did not sink the Brent Spar. * Supermarkets have been one of the businesses where the importance if ‘green credentials’ has become increasingly important, because consumers have become concerned about food miles and plastic packaging The relationship between business and employees: * If employees are unhappy, there will often be high turnover of staff, poor-time keeping and much absenteeism – as a result of this discontent, profits will suffer. Psychologists suggest that investing in and valuing employees has a positive effect on their well-being...
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...Teleworking 5.12 PART B: REPUTATION MANAGEMENT OF ORGANISATION 9. Introduction 5.13 10. Understanding the basics of reputation management 5.13 11. Reputation management in a crisis 5.15 11-1 Example 5.1: The Brent Spar crisis – Underestimating shareholder expectations PART C: PROTECTING INTELLECTUAL PROPERTY OF ORGANISATION 12. Introduction 5.17 13. What is intellectual property? 5.18 14. Importance of intellectual property 5.18 14-1 Example 5.2: Brand value v. net tangible assets 14-2 Brand values compared to tangible assets 15. Intellectual property rights 5.19 15. Types of intellectual property 5.20 15-1 Trademark 15-2 Patent 15-3 Utility model 15-4 Industrial design 15-5 Geographical indications of source & appellations of origin 15-6 Undisclosed information and trade secrets 15-7 Copyright 15-8 Related rights 15-9 Other rights – Topographies and plant breeder rights 16. Balanced IP protection 5.24 16-1 Case study 5.1: Government support of research for the public good 17. Abuse of intellectual property 5.26 17-1 Example 5.6: Piracy in the music industry 17-2 New methods for protecting intellectual property 18. Enforcing...
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...The Corporate Social Responsibility: A Review of Literature Yassin H. Yassin UNDP, Riyadh, Saudi Arabia November 2005 Introduction Business organisations strive to survive by the efficient use of the factors of production and other facilities of the society. This process puts organizations in an interdependent relation with the government, the community at large and the environment. Such interdependence gives rise to a series of broader responsibilities to society in general (Mullins, 2005). Mullins further illustrates that the social responsibilities are both internal and external to the organisations. Presently, there is an increasing concern with the social responsibilities of organisations. This is reflected in part by the extent of government action and legislation on such matters as, for instance, employment protection, equal opportunities, company’s acts, consumer law, product liability and safeguarding the environment (Mullins, 2005). Based on this the social responsibilities of organisations have turned into a legal requirement. Business Stakeholders Palmer and Hartley (2002) argue that business organisations should act in a socially responsible manner for two self-evident reasons: one philosophic and the other pragmatic. Philosophically, models of a responsible society require organisations to do their part along with the family and other social institutions (the schools, the religious institutions, etc.). Pragmatically, organisations...
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...The Corporate Social Responsibility: A Review of Literature Yassin H. Yassin UNDP, Riyadh, Saudi Arabia November 2005 Introduction Business organisations strive to survive by the efficient use of the factors of production and other facilities of the society. This process puts organizations in an interdependent relation with the government, the community at large and the environment. Such interdependence gives rise to a series of broader responsibilities to society in general (Mullins, 2005). Mullins further illustrates that the social responsibilities are both internal and external to the organisations. Presently, there is an increasing concern with the social responsibilities of organisations. This is reflected in part by the extent of government action and legislation on such matters as, for instance, employment protection, equal opportunities, company’s acts, consumer law, product liability and safeguarding the environment (Mullins, 2005). Based on this the social responsibilities of organisations have turned into a legal requirement. Business Stakeholders Palmer and Hartley (2002) argue that business organisations should act in a socially responsible manner for two self-evident reasons: one philosophic and the other pragmatic. Philosophically, models of a responsible society require organisations to do their part along with the family and other social institutions (the schools, the religious institutions, etc.). Pragmatically, organisations have to take account...
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...Chapter One: Introduction Background of the Study Globalization has undeniably affected the people, the businesses and the entire world. Globalization is simply defined as the process by which the different states, markets, technologies and firms become integrated and interconnected (Baur, 2011; van Tulder, 2001). Evidently, globalization has become an important facet of the twenty-first century. One of the more specific effects of globalization is the increased levels of trade and foreign direct investments worldwide. Furthermore, globalization has also facilitated the interdependence of the different economies throughout the entire world (Baur, 2011; Betsill & Correll, 2001). In addition to what has been previously mentioned, globalization has also influenced the development of Non-Governmental Organizations (NGOs) as a response to the recent increases in private investment (Teegen, 2003). Non-Governmental Organizations (NGOs) consist of citizens’ groups that are organized on a local, national or international level (Bendell, 2000; van Tulder, 2001). There are generally, three types of NGOs, these are: (1) advocacy NGOs who are primarily tasked with the promotion of the governments or in international for the groups who do not have the capacity to do so; (2) operational NGOs, which primarily deals with the provision of goods and services to the clients who are in need; and lastly, (3) hybrid NGOs or those who perform both tasks previously mentioned (Ghauri, 2003; Vormedal...
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...Business leaders frequently face dilemmas, circumstances where whatever course of action they choose, something of important value will be offended. How can an organisation prepare its decision makers for such situations? This article presents a pedagogical approach to dilemma training for business leaders and managers. It has evolved through ten years of experience with human resource development, where ethics has been an integral part of programs designed to help individuals to become excellent in their professional roles. The core element in our approach is The Navigation Wheel, a figure used to keep track of relevant decision factors. Feedback from participants indicates that dilemma training has helped them to recognise the ethical dimension of leadership. They respond that the tools and concepts are highly relevant in relation to the challenges that occur in the working environment they return to after leadership training. Keywords: business ethics, leadership training, dilemma Introduction The purpose of this article is to present a pedagogical approach to dilemma training for business managers and leaders. In the past ten years we have been responsible for ethical training sessions in programs designed to help individuals develop their leadership skills. We have used elements from moral philosophy in attempts to cultivate the participants’ theoretical understanding of the morally challenging situations they can encounter in their practice as managers and...
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...Rights, Responsibilities and Regulation of International Business Sol Picciotto* This essay discusses the paradox of the emergence of corporate codes of conduct in the 1990s, following pressures from consumer and labor activism, in a period of more general liberalization of international investment leading to deregulation. It suggests that the advantages of flexibility and adaptability to specific circumstances offered by such codes are counterbalanced by their self-selected content and inadequate enforcement. Rejecting the assumption that there is a sharp distinction between voluntary standards and binding law, the essay analyzes various ways of grounding codes in legal obligations. It proposes that a safer and more dependable environment for international investment could be provided by a framework agreement, which would link binding standards for corporate social responsibility in key areas, such as combating bribery and cooperation in tax enforcement, with traditional investor rights based on investor protection and liberalization rules. I. Introduction Over the past decade, there has been an intriguing dual movement in the development of the forms of regulation of business in the global economy. Since the 1980s the dominant trend has been liberalization, i.e., the relaxation or removal of national controls on international capital movements. It seemed to many that business firms and investors were close to attaining the goal of a world market...
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...|Strength |Weakness | |One of the world's strongest brand names. |Cost of environmental hazards. | |Diverse and huge operations. |Legal issues. | |PETRONAS has grown to be an integrated international oil and gas |Employment scam. | |company with business interests in 50 countries. |Rising investment requirement. | |Sponsored education to Malaysian students. (PESP, PSIP) | | |Opportunity |Threats | |Increasing fuel/oil prices. |Government regulations. | |Increasing natural gas market. |High Competition. | |More oil well discoveries. |Long-term falls in domestic oil production. | |Expand export market. |Competition in regional...
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...contribution to society. CSR is the practice of managing the social, environmental and economic impacts of the company, being responsive to 'stakeholders' (those who are affected by a business operation) and behaving according to a set of values which are not codified in law. In practice the term can refer to a wide range of actions that companies may take, from donating to charity to reducing carbon emissions. By CSR here we refer to the practice of major companies, rather than 'ethical pioneers': smaller companies which are set up with social and environmental concerns as their primary motivation in doing business. Companies engage in CSR because, for a number of reasons, they think it will be good for their profit margins. The business case for CSR emphasises the benefits to reputation, staff and consumer loyalty plus maintaining public goodwill. CSR is supposed to be win-win. The...
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...ISSUES MANAGEMENT Crisis management, at its best, is crisis avoidance. Crisis avoidance involves excellent issues management. Introduction Cigarette smoking, global warming, the future of the rain forest, obesity, healthcare costs, DNA, intensive farming, child labour; these are just a few of the subjects that have influenced the way in which business operates over the past 30 years. Issues management practice is the “identification, monitoring, and analysis of trends in key publics’ opinions that can mature into public policy and regulatory or legislative constraint of the private sector” We will argue that the successful issues manager recognises when an issue had changed or has the power to change the context in which business operates; is able to pinpoint a specific threat or opportunity to a specific industry, company or product, in a specific part of the world at a specific point in time; and can execute a series of actions to do something about it while remaining vigilant for any shifts in interpretation that need new thinking. Issues Management: defining the field What is an Issue? It will come as no surprise to discover that there are many definitions of an issue. Chase and Jones describe an issue as “an unsettled matter which is ready for decision.” Others suggest that, in its basic form, an issue can be defined as a point of conflict between an organization and one or more of its audiences. A simple definition that we like to use is that an issue represents...
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...Ethics University Name PART A Question 1 The Three Gorges dam project in China is a venture of monumental magnitude. Its impact is global, regional and local. The Hydro Electric Power project when completed can generate over 22 500 MW of electricity. That is a clean source of power as opposed to the traditional coal that emits huge amounts of carbon into the atmosphere. The proponents of the project said it would lead to better health and higher living standards. Excessive carbon in the atmosphere has been the cause of global warming. That implies that the residents, some of whom do not have access to electric power will have it in their homes. Electricity implies greater comfort and leisure such as TV and better studying for the students. The long-term benefit is better academic performance and therefore a better life. The fast-growing Chinese economy is another major beneficiary from the project. It will be able to supply cheap electricity to the industries and so increase their output. The improved capacity enables them to meet the needs of the fast-increasing number of the middle class of the population. Additionally, there is the prestige that comes with the title of the biggest Hydro Electric power project on earth. That would bring tourists to view the wonderful scene of the dam and an artificial lake. The reservoir lake would create an inland water way that got into Chongqing. The economy of the area would benefit greatly (Tan, 2007). The project has faced criticism...
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...national policies relating to sustainability. 2 1. Changing attitudes of public, politicians and businesses to the environment since 1945 .................................................................................................................................... 2 2. Brundtland definition of ‘sustainable development’ .................................................. 4 3. The international and UK policies to sustainable development since Earth Summit of 1992 ................................................................................................................................ 4 4. Triple bottom line........................................................................................................ 5 II. The commercial case for considering social and environmental matters in business management .......................................................................................................................... 6 1. 2. 3. Stakeholders and how they impact on business policies ........................................... 6 Is adopting CSR policies cost-saving? .......................................................................... 7 Primark Ethical Trading ............................................................................................... 7 III. Balance between expectations of stakeholders and the social and environmental issues 9 1. Would you pay extra for ethical products?....................................................................
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...How Global Brands Compete When a brand is marketed around the w orld, t hat fact alone gives it an aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage b oth. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning that would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, when several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While the world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries had trouble relating to the generic...
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...How Global Brands Compete When a brand is marketed around the world, that fact alone gives itan aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage both. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning tbat would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, wben several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While tbe world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries bad trouble relating to the generic...
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...How Global Brands Compete When a brand is marketed around the world, that fact alone gives it an aura of excellence-and a set of obligations.To maximize the value of global reach, companies must manage both. 68 HARVARD BUSINESS REVIEW by Douglas B. Holt, John A. Quelch, and Earl LTaylor I More than two decades ago, Harvard Business School professor Theodore Levitt provocatively declared in a 1983 HBR article, "The Globalization of Markets" that a global market for uniform products and services had emerged. He argued that corporations should exploit the "economics of simplicity" and grow by selling standardized products all over the world. Although Levitt did not explicitly discuss branding, managers interpreted his ideas to mean that transnational companies should standardize products, packaging, and communication to achieve a leastcommon denominator positioning that would be effective across cultures. From that commonsense standpoint, global branding was only about saving costs and ensuring consistent customer communication. The idea proved popular in the 1980s, when several countries opened up to foreign competition and American and Japanese corporations tried to penetrate those markets with global brands and marketing programs. T'S TIME TO RETHINK GLOBAL BRANDING. While the world economy continued to integrate, experiments with global branding soon slowed. Consumers SEPTEMBER 2004 in most countries had trouble relating to the generic...
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