...MANAGING CORPORATE RESPONSIBILITY IN WIDER BUSINESS ENVIRONMENT NAME ID INTERNATIONAL COLLEGE OF BUSINESS & TECHNOLOGY LTD Edexcel BTEC Level 7 Professional Diploma in Strategic Management & Leadership Managing Corporate Responsibility in Wider Business Environment Table of Contents INTRODUCTION .................................................................................................................... 2 Page | 1 PART 01: .................................................................................................................................. 3 LO 1.1: Briefly explain how the globalization has an impact on a national economy ......... 3 LO 1.2: Discuss the influence of international institutions. .................................................. 4 LO 1.3: Explain the role of European Union on Unilever, UK. ........................................... 6 LO 2.1: Explain the importance of having good Corporate Governance for the organization ............................................................................................................................................... 7 LO 2.2 & 2.3: Discuss what regulatory requirements exist in the country shaping the corporate governance practices of an organization and their role in ensuring corporate stakeholder’s interest. ............................................................................................................ 8 LO 3.1: Discuss the economics of adopting a policy...
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...Should Businesses Operating Today in New Zealand Go “Beyond Profits”? In 1970, it was argued by Nobel Prize-winning economist, Milton Friedman, that the only social responsibility of business is to increase its profits (Friedman, 1970). Since Friedman expounded his widely acclaimed philosophy on the social responsibility of business, many experts in the area of business and social responsibility have retaliated with their own views on corporate social responsibility (CSR). One of these views is the idea that businesses should go beyond the classic economic paradigm, a-la Friedman, to carry out certain responsibilities to society such as ethical and philanthropic responsibilities (Carroll, 1991). In order to have a better understanding of one’s position on the CSR debate, this essay will specifically target the corporate social responsibilities of businesses within a general New Zealand context so that one might precisely answer the question “Should Businesses Today Operate beyond Profits”? “Responsible governance” in New Zealand (NZ) management is equivalent to the organization’s “environmental, social and risk management practices and the interests of its shareholders and increasingly wide stakeholders (Birchfield, 2011). The definition of responsible governance seems to be in favor of the CSR position as businesses in NZ are clearly obliged to more responsibilities other than Friedman’s ultimate profit-maximizing goal. However, a resent consensus in the business consulting...
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...Governance, Risk and Compliance in Networking Today Strategies ITT Tech Abstract This paper explains how governance, risk and compliance making their way into networking. It shows how these three areas are being affected by how business in more of a global setting. Governance, Risk and Compliance in Networking Today Today’s businesses, especially when looking globally, it is becoming more important to keep up with risk and manage each countries regulatory requirements. This area is fairly new to the Information Technology world. Governance, risk and compliance are new processes and technology that allow these companies to greater manage their risk, accountability and decision making. In this new and growing field, Governance, risk and compliance (GRC), programmers are showing how much they can provide for companies. The problem lies in that even though GRC programmers and making steady advances, in terms of where businesses expectations are, there tend to be gaps. Understanding this is easier when each part is explained more. According to Enzer (2012), to break it down further, governance is the culture, policies, processes, laws, and institutions that define the structure by which companies are directed and managed, risk is the effect of uncertainty on business objectives; risk management is the coordinated activities to direct and control an organization to realize opportunities while managing negative events, and compliance is the act of adhering to, and demonstrating...
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...Stakeholders In a business context, customers, investors and shareholders, employees, suppliers, government agencies, communities, and others who have a “stake” or claim in some aspect of a company’s products, operations, markets, industry, and outcomes are known as stakeholders. 1. Stakeholders are influenced by business, but they also have the ability to affect businesses. 2. They apply their values and standards to many diverse issues—for example, working conditions, consumer rights, environmental conservation, product safety, and proper information disclosure—which may or may not directly affect an individual stakeholder’s own welfare. 3. They provide both tangible and intangible resources that are more or less critical to a firm’s long-term success. 4. Individual stakeholders that share similar expectations about desirable business conduct may choose to establish or join formal communities to advocate their values and expectations. 5. Stakeholders’ ability to withdraw—or to threaten to withdraw—valuable needed resources gives them power over businesses. B. Identifying Stakeholders 1. Stakeholders can be divided into two categories. a) Primary stakeholders are those whose continued association is absolutely necessary for a firm’s survival; these include employees, customers, investors, and stockholders, as well as the governments and communities that provide necessary infrastructure. b) Secondary...
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...5 Tangible Benefits Governance challenges For Family-owned businesses Implementing Tangible Benefits Motivation Implementing Purpose Alignment Family Business Challenges Planning What To Do Family Business Challenges What To Do KEY MESSAGES To an extent, family control yields benefits. Academic research and experience from many companies and investors all show that a certain degree of family ownership/control provides positive benefits to the family business and its shareholders. Family-owned firms face unique challenges. However, many failures of family-owned companies indicate that such firms also face a multitude of challenges which risk destroying shareholder value or even the business itself. Corporate governance measures lead to long-term success and keep peace in the family. Corporate governance measures at the family and business levels provide good solutions to family ownership challenges and often are indispensable to the long-term success of the family business nd peace in the controlling family, especially with succeeding generations. —a “…We have two options; there is no right or wrong decision, nor one that is better than the other. But whatever is to be done, will be definitive. There is no turning back. We can continue being a family business, like in my grandfather’s and father’s days, or become a professional company with a strong and clear capital market strategy.” —David Feffer, Suzano, Chairman of...
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...4/1/2012 Table of Contents Strategic Management Comparison between Nikon and Canon 3 Introduction 3 Nikon Company Background 4 Logo 4 History 5 Products 5 Canon Company Background 6 History 6 Logo 7 Products 7 Nikon Corporate Information 8 Mission 8 Vision 8 Canon corporate information 9 Mission 9 Vision 9 Corporate Philosophy 9 SWOT Analysis 10 Nikon 10 Strengths 10 Weaknesses 11 Opportunities 11 Threats 11 canon 12 strengths 12 Weaknesses 12 Opportunities 13 Threats 13 TOWS Matrix 14 Canon 14 Strengths – Opportunities 14 Strengths - Threats 14 Weaknesses – Opportunities 15 Weakness - Threats 15 Nikon 16 Strengths – Opportunities 16 Strengths – Threats 16 Weakness – Opportunities 16 Weaknesses – Threats 16 Corporate Governance 17 Japanese Corporate Governance 17 Nikon Corporate Governance 19 Management System 19 The Board of Directors and Executive Committee 20 Corporate Auditors and the Board of Corporate Auditors 20 Nikon Board of Directors and Corporate Auditors 21 Canon corporate governance 22 Board Of Directors 25 Porter Five Forces 26 Rivalry 26 Threat of Substitutes 27 Buyer Power 28 Supplier Power 28 Threat of new entrants 28 corporate culture 30 Nikon 30 Canon 30 Conclusion 31 References 32 Strategic Management Comparison between Nikon and Canon Introduction “One image has more value than a thousand words.” Every day we see that normal citizens...
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...IMPACT OF CORPORATE GOVERNANCE ON FIRMS PERFORMANCE: CASE OF FAMILY FIRMS IN MALAYSIA CHAPTER 1: INTRODUCTION 1.0 Background of Study For many years and in many economies, most of business activity was accompanied by proprietorships, partnerships, or closed corporations. In these forms of organizations, a small and closely related group of individuals belongings the same family or co-operating in business for lightly periods runs the firm and share the profit. A lot of attention, has focused on the relationship between ownership structure and corporate performance for instance, a research agenda on the implications of ownership structure on corporate governance by La Porta et al (2000) sustain the legal structure does not offer sufficient protection for outside investor or entrepreneurs, original owners are forced to maintain large position in their companies which results in a concentrated form of ownership thus having implications on ownership structure. On the other hand, more of evidence according to Shirley and Walsh (2001) indicates the private held firms are more efficient and more profitable than publicly held ones although the evidence differs on the relative merit of the identity of each private owner. In 1976, Jensen and Meckling provided results of their researches on ownership structure and firm performance by dividing shareholders into internal investor with management right and external shareholder who are investor without the ballot right. The...
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...Ethics Case Halliburton Plc. & Washington Inc.: The Power of Politics in Corporate Business Success As a general rule, correcting market failures is best left to the government. Businesses cannot be trusted to get it right, partly because they lack the wherewithal to frame intelligent policy in these areas.[i] Free-market economist Adam Smith (1723-1790) states that if self-interested people are left alone to seek their own economic advantage, the result, unintended by any one of them, will be greater advantage for all. He maintains that government interference is not necessary to protect the general welfare.[ii] MBA 8111 Business, Government, and Society Introduction Governments have become the black box for corporate business success around the world. This paper will discuss the close relationship between business and government, using Halliburton as main examples throughout the case. Halliburton has often been perceived negatively by the public and has become a favorite target by Democrats for critics about conflicts of interest, undue corporate influence, hidden motives, accounting fraud, bribery, bilking the government, tax evasion, and trading with rogue nations.[iii] Its name has become synonymous with political cronyism.[iv] The current U.S. Vice-President Dick Cheney, who previously held the CEO of Halliburton from 1995 to 2000, is criticized to facilitate the government contracts to be available to the company even though he...
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... Introduction • The Cadbury report was once referred to as The Report of The Committee on the Financial Aspects of Corporate Governance. The report was published in December 1992, following the recommendations of the Cadbury Committee. • Address concerns about the working of the corporate governance system. • The Committee made it its purpose to address the financial aspects of corporate governance and out of this produced a Code of Best Practice. The Committee • The Cadbury Committee was established in May 1991 by the Financial Reporting Council, the London Stock Exchange, and the accountancy profession. • Reasons: Increasing lack of investor confidence in the honesty and accountability of listed companies. Financial collapses of listed corporations. Auditors who signed off a set accounts which turned out be a misrepresentation of the facts, and about losing its self-regulatory role. Lack of board accountability for such matters as directors’ pay. Corporate Governance Contemporary corporate governance started in 1992 with the Cadbury report in the UK Cadbury was the result of several high profile company collapses is concerned primarily with protecting weak and widely dispersed shareholders against self-interested Directors and managers Cadbury Report 1992 The committee on the financial aspects of corporate governance’ The Code of Best Practice’ (1992) Voluntary code ▪ But for listed companies a compliance statement was required ...
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...services to its clients globally. Infosys is one of the companies which spearheaded the software services outsourcing strategies. Offshore outsourcing is a process in which an external organization is contracted to execute some task in an outside territory. And this has several advantages for the organizations which outsource. Infosys delivers offshore IT and software services like infrastructure support, application development, IT consulting, re-engineering and other services like setting up software development centers at different locations for their clients. Adding another feather to the Infosys¡¦ cap is a banking application that empowers banks to transform their businesses; called ¡¥Finacle¡¦. Finacle is a modular solution which can be customized to address the specific needs of retail and corporate banks globally. Infosys addresses to give end-to-end technology solutions and takes care of the issues encountered in the dynamic business environment. 1 The...
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...Running head: RISK MANAGEMENT AND THEIR INFLUENCES Risk Management and Their Influences on Corporate Governance University of Maryland University College Graduate School of Management& technology Executive Summary Implementing a risk management process in line with organizational or business goals and objectives is vital for successfully managing or mitigating risk. Risk identification, analysis, handling, and monitoring should be addressed by all stakeholders. The process should be implemented in accordance with a pre constructed Risk management plan. A well developed risk assessment will make use of the considerable number of assessments, planning, and formal risk identification performed to provide a picture of the composite or overall risk associated with an organization. Also an effective risk mitigation strategy will provide a significant increase in the confidence level that a business or organization will meet its cost, schedule, and performance requirements. Introduction Risk is an important concept that plays a major role in the success of a business and organization. Risk is defined as the exposure to injury or loss. Every decision that we make as human beings contain some form of risk and most of the time the weight of the risk determine whether we will follow through with an action or not. Risk Management is a systematic way to keep those risks in check and a way to limit those risks in impacting the...
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...A Framework for IT Governance in Small Businesses by Herman Koornhof A FRAMEWORK FOR IT G O V E R N A N C E by IN SMALL BUSINESSES Herman Koornhof TREATISE Submitted for the partial fulfilment of the requirements for the degree MAGISTER TECHNOLOGIAE in Business Information Systems in the FACULTY ENGINEERING, BUILT ENVIRONMENT OF THE AND INFORMATION TECHNOLOGY of the N E L S O N M A N D E L A M E T R O P O L I T A N U N I V E R SI T Y Supervisor: Prof. Rossouw von Solms January 2009 ii Declaration I, Herman Koornhof, hereby declare that: • • • The work in this treatise is my own work. All sources used or referred to have been documented and recognised. This treatise has not previously been submitted in full of partial fulfilment of the requirements for an equivalent or qualification at any other recognised educational institution. higher Herman Koornhof iii Acknowledgements I would like to express my gratitude to the following people: • My love, Jenny, for your love and understanding during the past year. Without your encouragement and inspiration this work would not have been possible. • • My family and friends for your interest and support. My supervisor, Prof. Rossouw von Solms, for your guidance and advice, and your detailed and constructive comments. • To Him who is able to do immeasurably more than all we ask or imagine, according to his power that is at work within us. iv Table...
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...Corporate governance and responsibility Spotlight C O R P O R AT E G O V E R N A N C E OECD principles Foundations of market integrity Bill Witherell, Head, OECD Directorate for Financial, Fiscal and Enterprise Affairs © Getty Images Good governance goes beyond common sense. It is a key part of the contract that underpins economic growth in a market economy and public faith in that system. The OECD Principles of Corporate Governance and Guidelines for Multinational Enterprises are two essential instruments for ensuring that this contract is honoured. T he recent spate of US corporate failures and breakdowns in truthful accounting has undermined people’s faith in financial reporting, corporate leadership, and the integrity of markets the world over. The fact that the wave of scandals has come hot on the heels of a collapse in the high-tech bubble has a sharp ironic flavour. Both events have their roots in the heady days of stock market exuberance, when anything was possible, from creating multibillion dollar companies with little more than an idea, an investment angel and a lot of faith, to believing that markets would buy any yarn a group of fast-talking executives could spin, even if to cover up serious losses and illegal practices. The corporate scandals and the bursting bubble have different causes though: on the one hand, illicit management decisions and cover-ups, and on the other, over-bloated investment assessments...
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...Journal of Applied Business and Economics Global Business Management: Current Trends and Practices Michael Wisma Saint Joseph College of Indiana Today, problems associated with global business management have been identified as factors that negatively impact the performance and productivity of multinational corporations and in turn, adversely affect regional and national economic growth. While factors related to logistics and distribution are important when selecting international suppliers, they are inadequate when considered in isolation of internal and external forces. This paper engages in a comprehensive and systematic analysis of global supply chain management, particularly in terms of micro and macro cultural considerations. INTRODUCTION Organizations are facing increased global competition, economic uncertainties, and changing markets. Technology is changing the way we conduct business and manage information. Outsourcing of significant functions within businesses and organizations complicates the landscape of supplier relations. Suppliers and vendor partners may be located in the same city, region or country. But they are just as likely to be located halfway around the world, adding new challenges to business management. The growth of international strategic partnerships has risen exponentially in the last twenty years. Competing in a global marketplace has made it increasingly important to align business strategies with a risk management strategy...
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...for Humanity (HFH) International is the lead voice on a worldwide level in regards to the issues of poverty housing. This organization also addresses the issues of poverty housing through its affiliates on national, state, and local levels. In the U.S. alone Habitat has over 1,500 affiliates in cities, counties, and states all over the country. Founded and established by the late Millard Fuller and his wife Linda in 1976 Habitat for Humanity has been a major force in providing affordable housing for poverty stricken and low-income families all over the world. According to Habitat for Humanity International (2013), “Habitat has helped build or repair more than 600,000 houses and served more than 3 million people around the world” (Habitat today). For the last 37 years Habitat for Humanity has worked tirelessly providing housing for families who cannot obtain homeownership through traditional means. Vision and Mission In the United States there are over 46 million individuals living in poverty (Thomas Reuters Corporation, 2013). With minimum wage not having the capability to keep up with the rising costs of living working individuals struggle to maintain sufficient housing needs. Low income families and families living in poverty hang on a thread living in slum like conditions. Homeless families wander the streets wondering where they will sleep for the night. Habitat for Humanity’s vision is a world where everyone can afford housing. Affordable housing can provide stability...
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