...The meaning of ethics Name Affiliation Date Companies are charged with quite a number of social responsibilities to ensure that they give back to society and maintain a symbiotic relationship with the society. Some of the company's obligation to the society is to make sure that they work towards reducing the company's direct impact on the environment. This involves responsibly managing all the waste and the consumption of the various natural resources by the company. In addition to that, companies are charged with the duty of ensuring that they protect and preserve the culture and the norms of the society in which they are located. This is coupled with a diverse understanding of the various risks that are faced by individuals and the overall society. These challenges which are referred to as cooperate responsibility entitle society communal needs that shared collectively by all the stake holders of the company affiliation. In order to make sure that all companies behave in ethical and more responsible manner, it is important to ensure that they draft budgets at the beginning of the financial year to capture all the social responsibilities of the company to the society. In this case, the company will be able to implement activities that shall be stipulated in the budget. These will involve activities like charity and other society concerns. On the other hand, in order to ensure that the company respects and upholds the ethical standards, there must be legal setting...
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...Community Profiles: Social Responsibilities Johnny Vega University of Phoenix ETH316 Charles Daniels 19June 2014 Community Profiles: Social Responsibilities Social responsibilities are essential for community residents, whether in rural, suburban, or urban venues. Although the prevailing community and individual ethics and moral obligations are identified, the greater good to the communities is demonstrated through a primary theme; individual practices addressing social responsibilities within the communities that strengthen an ethical and moral lens. Our comparative analysis will address critical thinking processes defining conceivable responsibilities of the individuals to the communities, communities’ responsibilities to the individuals, and effects of social responsibilities on the communities. We will focus on the diverse Texas communities of the Shady Mountain sub-division of Leander (rural), the Shadow Glen sub-division of Manor (suburban), and the Kyle neighborhood (urban) (City of Kyle, n.d. and ShadowGlen HOA, 2014 and United States Census Bureau, 2010). Community Profiles Aside from venue differences, the Kyle neighborhood and Shadow Glen communityabideby formal Home Owner’s Association (HOA)...
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...Ethics Reflection Paper Student Name STR 581 Date Instructor Name Ethics Reflection Paper Ethics is vital code of conduct in a person’s daily life as it has an important role in the organization. While a business start the procedure of strategic planning considering the code of ethics has got utmost importance. Communal responsibility is influenced during the planning strategies as it focuses on stakeholders needs of a business is satisfied. An organization is recognized by their mission; but the company’s mission approaches towards communal responsibility. Every group in a company presents their variable interests and outlook. Through various stages an organization is able to recognize, understand, settle and synchronize the demands for defining their communal responsibility. This particular paper is subjected towards analyzing the operations of ethics and communal responsibility, and their application in developing planning strategies, considering requirements of the stakeholders. Ethics and Social Responsibility In a company ethics can be said as an essential tool used for helping the workers in the company for understanding them the way of conduct in a company environment. This must combine both the standards and the values employed by the organization. When planning strategies are formed in a company, it must specifically focus on the expectations of the company which has been set for the employees focus making them know their way of conduct. By setting up of...
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...Social Audit: A Toolkit A Guide for Performance Improvement and Outcome Measurement CENTRE FOR GOOD GOVERNANCE Knowledge Technology People Social Audit: A Toolkit No part of this book may be reproduced in any form without permission in writing from the publisher, except by a reviewer or a research scholar who may quote brief passages in a review in a magazine or a newspaper or for research purposes as the case may be. Copyright CGG 2005 Printed and published by the Director General & Executive Director, Centre for Good Governance Dr MCR HRD IAP Campus, Road No. 25, Jubilee Hills, Hyderabad 500 033. 2 |||Social Audit: A Toolkit| |||||| |||||| |||||| ||Contents|||| |Preface|||| |List of abbreviations|||| SECTION – I. SOCIAL AUDIT EXPLAINED|7|| 1.|Introduction to Social Audit|9| 2.|Accountability Mechanisms: Cases from India|10|| 3.|Social Audit Vs Other Audits|13|| 4.|History of Social Audit|14|| 5.|Stakeholders and Social Audit|15|| 6.|Principles of Social Audit|17|| 7.|Uses and Functions of Social Audit|18|| 8.|Benefits of Social Auditing for Government Departments|19|| 9.|The Design and Methodology|20|| 10.|Social Audit for Government of Andhra Pradesh|21|| 11.|Good Governance and Social Audit|22|| 12.|Social Auditing and Performance Evaluation|24|| 13.|How does Social Audit work?|25|| 14.|Who can use Social Audit?|26|| 15.|Social Audit and Social Capital|27|| 16.|Designing...
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...ATENEO DE MANILA UNIVERSITY GRADUATE SCHOOL OF BUSINESS #20 Rockwell Drive, Rockwell Center, Makati City, 1200 Philippines Corporate Social Responsibility Subject: Principles of Management Submitted to: George C. Fong, Ph.D Submitted by: Caparas, Harney Dela Cruz, Rafael Espejo, Belle Salva, Perth May 18, 2015 Background of the Company Incorporated in 1919, Manila Electric Company (MERALCO) is the largest electric distribution utility in the Philippines. It is engaged in the distribution and sale of electric energy through its distribution network facilities in its franchise area. Its market is categorized into four sectors such as residential, commercial, industrial, and streetlights. The franchise area of MERALCO covers over 9, 337 km2, covering 35 cities and 76 municipalities. This includes the cities and municipalities of Bulacan, Cavite, Metro Manila, and Rizal and certain cities, municipalities, and barangays in the provinces of Batangas, Laguna, Pampanga, and Quezon. The Company organized several subsidiaries to provide unregulated electricity-related or other value-added services, which contributed to the efficiency and profitability of the core business. These subsidiaries also provide services to third parties. MERALCO’s subsidiaries include Corporate Information Solutions, Inc., Meralco Energy, Inc., eMERALCO Ventures, Inc., Meralco PowerGen Corporation, Meralco Financial Services...
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...It would also mean many families would suffer as their income would become instantly scarce and more importantly this event would mean that so many children would become orphans. The media’s reaction blew up and this was scattered all around the globe damaging Primark’s valuable reputation by the minute. Eventually after some persuasion by petitions and government demands the company said they would compensate. ‘‘ The British retailer has agreed to pay $9m to the 581 workers, or their families, from New Wave Bottoms, Primark's supplier, which was based on the second floor of the building in Dhaka. A further $1m will go into a communal compensation pot to be shared among all the 3,600 workers who suffered when the eighth-floor Rana Plaza complex collapsed in April last year’’. This shows that company demonstrated that they took some social responsibility for the community that got terribly damaged, it also showed that the company wanted to improve their community and try and amend for what happened for the families. The company has also compensated by offering the community health care schemes that would include volunteers donating their time and resources people who have concerns with their health but may not have the means to go see a doctor, they are providing necessities like food and water and they are also constructing a brand new factory with a new full ensured structure, it was also said that ‘prior workers have immediately got placement’. This proved to reinvent their...
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...emergence of innovative business social responsibility-practices. In view of the expanding and dynamic nature of contemporary business organizations, awareness of the impact of these institutions is reflecting on the environment in which they operate. This awareness has led to a definite conclusion on the roles of business organizations in the society and the growing demand for corporate social reward in terms of better social performance. For instance, the conflict in the Niger Delta area was aggravated by intense oil exploration activities in the area without adequate compensation from either the government or the oil multinational companies that reap profit from the area. The apparent neglect and marginalization of the people of the Niger-Delta has led to the call for compensation for their exploited wealth, the physical development of their environment and access to political power which made communal clashes, ethnic nationalism and movement for self determination to be prominent in the region and the phenomenon of oil pollution has only added to the already tense atmosphere in the Niger-Delta area. Today, business organizations are enjoined to pay attention to social issues and problems which are far removed from their central economic pursuit. The re-invigoration of the idea that business organization has social responsibility that goes beyond profit making to include helping to solve social and environmental problems - corporate social responsibility has provided fertile ground...
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...Question 1 Corporate Social Responsibility means the organization’s sense of dependability for the society and surroundings in which it functions. Organizations articulate this citizenship all the way through their squander and contamination lessening methods, by making a contribution to social and educational programs, and by receiving sufficient proceeds on the engaged capital. Corporate Social Responsibility is also measured as an approach to generate, expand and maintain optimistic corporation standing and brand imagery. BreadTalk who has got processes in China had experienced in Corporate Social Responsibility programme throughout one of the whole world’s mainly horrific tragedy – the Sichuan tremor that occurred on May 12th 2008. This company particularly produced Peace Panda, it is a Panda Bear which was a bun shaped having 4 dissimilar terms which symbolized the fear of the 6.8 scale quake as a helping hand for helping the tragedy. The company gave full part of the earnings from the transaction of “Peace Panda” to the Embassy of China and ‘China Earthquake Appeal Fund’ of Red Cross Society’s. This act of CSR confirmed their pioneering way to utilize their merchandise as an instrument to elevate fund. It in a roundabout way helps in improving the business media exposure and may also create a profound thought into the spirit of its consumers as it depicts kindness and empathy. With the endorsement and commercials of the “Peace Panda”, it also facilitates to increase the...
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...modern business environment a new component is being added to a company’s purpose; that is for a business to adapt corporate social responsibility (CSR) as a policy or to embed it into operation plans. In fact, many firms are adopting CSR concepts in their decision-making process to ensure a favorable view from the public, and a preservation of their name and reputation. Often actions that align with social responsibility cannot only preserve a corporations name it can also enhance it. This seems to be a part of a trend as society has increasing expectations from corporations to have CSR as part of the way the firm does business. “For years, corporate social responsibility (CSR) was an add-on to businesses and was basically a kind of marketing. But now it seems customers want companies to embed social responsibility into their strategies.” (Holstein, 2008) However, in some companies without CSR policies in place, might select choices without consideration of the perception and consequential ramifications that could be made by the public. This can be especially harmful for small to mid-size businesses who are seeking growth in the near future, as businesses that seem insensitive or uncaring towards the society at large (or smaller communities they serve) can be the targets of boycotts either on a communal or individual scale. Social Responsibility Viewpoint The cases in question are recent decisions made by Company Q, a small local grocery store chain. In recent months...
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...Case Study: Wal-Mart DeLeon A. Rich Management and Strategy Webster University May 15, 2013 Table of Contents Table of Contents 1 Introduction 2 Wal-Mart’s Threats and Challenges 2 Priorities of Wal-Mart CEO during the October Address 2 Wal-Mart Board’s Strategic Initiatives 3 Recent Wal-Mart Initiatives 4 Recent Initiatives 4 Comment: Strategy 5 Comment: Personal Relations 5 Wal-Mart’s Social Challenges 5 Conclusion 5 References 5 Introduction Every business organization in the contemporary world continues to face serious challenges and turbulences. Such challenges and turbulences have called on to business enterprises to re-structure and re-engineer their strategic plan in order to establish effective strategic initiatives. Dynamisms and increased competition are some of the challenges that business enterprises continue to face. One example of a business enterprise that has had to re-structure and re-engineer its strategic plan amidst increased dynamisms and competition with Wal-Mart. Late in 2005, Wal-Mart announced a series of sweeping new strategic initiatives. Such strategic initiatives are aimed at enhancing the position of the business within the industry and the market as well as performances. This case study provides an in-depth analysis of Wal-Mart in respect to its current strategy and challenges. Analysis of the threats and challenges coupled with priorities that Wal-Mart CEO, Lee Scott set in the address on “Twenty-first...
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...2-27 A. Identify and describe Reed’s responsibilities to detect Smith’s errors and fraud. Do not identify specific audit procedures. After his meeting with Smith Company’s new management and predecessor auditor, he is now made aware of possible fraud in the financial statements. With this knowledge, he is now responsible to take steps to identify the errors due to fraud in the financial statements. Initially, Reed and his audit team should assess the risks within Smith Company such as the motives and where opportunities exist to commit fraud. Once all the risk information is gathered, the next step is to audit Smith Company’s financial statements to see if they are prepared in accordance with GAAP and if they are not to identify any material misstatements. During the course of the audit, they should plan and develop tests that account for the risks assessed. As with any audit, Reed, CPA and his staff must “conduct the audit with due professional care and an attitude of professional skepticism.” (Boynton & Johnson. 2006, p. 58) B. Identify and describe Reed’s responsibility to report Smith’s errors and fraud. If Reed, CPA detects that Smith Company’s financial statements are materially misstated, then he should notify the management at Smith Company and have them revise them so that they are in accordance to GAAP with all proper disclosures. Reed has the responsibility to notify others when appropriate including the Board of Directors, the Audit Committee...
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...1) Why do you think Starbucks has been so concerned with social responsibility in its overall corporate strategy? Starbuck is a known corporation local and international for their freshly brewed coffee and other products that are offered. Social responsibility helps the company image, to care about the community and the environment, these are positive stand points that define the company self portrait. It's important how you look on the outside, in the end it's all about sales. As mention in the text “people first and profit last” once a corporation can fulfill its duties that benefit the consumer and the parties involve then there is no need to worry about the business profit. 2) Is Starbucks unique in being able to provide a high level of benefits to its employees? The text mention “it is better for a company to take some short-term loses than to lose sight of its core values in the long term “yes Starbucks is unique because not many restaurant offer the kind of benefits as Starbuck. The employees are important to the business and it helps to retain them. Offering health insurance, paid time off, and other perks are ways to keep employees happy which lead to great work effort and a successful business. It also helps to lower the business employment turnover rate and save the corporation money because they do not spend much money and recruiting new employees and to train them. 3) Do you think that Starbucks has grown rapidly because of its ethical and socially responsible...
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...2012, HMV plc spent £25 million on social responsibility projects. In January 2013, HMV entered liquidation. With reference to HMV and/or other organisations that you know, to what extent is acting in a responsible manner important for sustained businesses success. (40 marks) Acting in a responsible manner will always be an important part of a business’s success, as it links into a business’s reputation which is ultimately how the customers and potential customers view the business before decided whether to purchase their goods or services from them. If a business, for example The body shop is renowned for being socially responsible in relation to environmental factors and employee issues, then its reputation will be strong and customers will look highly upon the business, as opposed to a business, such as Nike, who was found out to be using sweat shops and abusing their workers not long ago, to which consumers responded badly. HMV for many years has been a very popular and well established business. So behaving in a responsible matter will have proved to be an evidently important factor in the success of their business, before they entered liquidation. In their 2008 social responsibility report, HMV stated that “HMV Group recognises that its businesses have social and environmental impacts and that we have a responsibility to manage these impacts effectively at a strategic and operational level”. Environmental factors, social responsibility and economic growth are all part...
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...Management Planning Ava Thompson Hearvey MGT/230 October 23, 2012 The Planning function The first Wal-Mart opened in 1962 in Rogers, Arkansas. Wal-Mart has been dedicated to making a difference in the lives of their customers. This business is the result of Sam Walton’s visionary leadership, along with generations of acquaintances focused on helping customers while building the community, and saving money (Wal-Mart.com). This heritage defines the company in terms of who Wal-Mart is and what the company’s goals are today. In 2009 Wal-Mart introduced a plan that was hoped to guarantee that the company would remain the industry leader. Project Impact is based on three strategic initiatives that will improve the benefits to the customer. The three initiatives are; Save Money, Live Better; Wal-Mart is aiming to keep customers happy and keep them returning to the store. Over the last decade the company had lost customers as they frequented the newer stores of its competitors such as Target. By implementing Project Impact Wal-Mart is renovating its stores in the US by widening the aisles, lowering fixtures, improving signage, and adding natural light to give consumers a store that feels friendlier (Wal-Mart strategic initiatives). Customers are more likely to shop when they feel comfortable. Goals and Strategies The first of the three visions is called Save Money, Live Better. This vision has a number of...
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...Boeing and its Management Planning Christopher Bayles MGT/330 October 2, 2011 Bill Escue Boeing is one of the biggest aviation companies in the world with relations to a number of different countries. They produce products for commercial and government use as well as have contracts with National Aeronautics and Space Administration (NASA). Management planning is one of the primary key focuses to Boeing because of the size of its massive corporation. They create some of the top high-end equipment for medical, commercial, and government use. The primary workings of the company includes goods that aid in the carrying of cargo, people, and other equipment used by the government. The Federal Aviation Administration (FAA) oversees the operation of aircrafts for safety concerns. Because of the safety concerns, Boeing conducts very extensive planning to operate a well-organized and successful business. Planning includes precautionary needs for the future, figuring out the departments’ objectives, activities that could be of some concern to a company, and a company's techniques they will need to accomplish a successful result (Boeing, 2010). During plans making Boeing has to consider the unpredicted problems so that there can be no possible mishaps that could happen. By setting obtainable goals in marketing, sales, mechanical markets and engineering, and updating and training employees to be more effective will ensure that the products exceed high expectations and...
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