...stomer loyaltyLAU | School of Business BUS831: Management Theory Sustainability of Customer Loyalty Presented to: Dr. Silva Karkoulian Prepared by: Siham Kibbi Aline Ibrahim Mohammad El Mogharbel Mounir Ghazal Date: 27/11/2013 Paper Outline * Introduction: Four major approaches toward achieving sustainable customer loyalty * Corporate Social Responsibility: CSR plays a significant role in developing customer's loyalty * Customer Relationship Management: Delivering superior customer value has become a major concern targeting the buildup of a sustainable competitive advantage * Product/Services Cost and Price: Pricing strategies are considered to be critical aspects for creating competitive advantage and customer loyalty * Human Resources: Promoting sustainability requirements through HR management * Conclusion: Management, employment, social responsibility, and affordable prices are all keys to give customers a reason to come back Introduction Behind a sustainable business, there are many successful strategies to achieve customer loyalty. Fostering our customers’ decision in keeping a relationship with our company is not an easy job. Thus, attaining sustainability of customer loyalty is a key for a major long- term success of our organizational goals. It is our responsibility to create an attractive yet profitable business which focuses on the ways that not only satisfy but also keep a high satisfaction level...
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...around stakeholder theory as an approach to executing corporate responsibility. This theory is based on company-centrality where various layers of the environment of the company are independently analyzed. In the context of this theory, a stakeholder is understood to be any actor with an explicit or implicit interest in the activities of the company. Actors that typically fall under this category are e.g. employees, owners, customers, the government and surrounding communities. As evidenced by the examples, the concept of stakeholder entails a wide array of internally divergent actors. According to the article stakeholder relation management can be viewed from two distinct vantage points. The first approach views stakeholder relation management as a strategic vehicle for furthering underlying aims of the company. The alternative approach views stakeholder relations management as an intrinsic value that should be furthered as a product of its own merits. The issue of effectively managing stakeholder relations has in recent years gained much more prominence and astute companies are in many cases turning to it as a means to increase customer retention/loyalty and thereby positively impact shareholder value. This kind of an approach would allude to the strategic view as the more prevalent vantage point for approaching stakeholder relations management. While a strategic approach might be perceived as inferior to an intrinsic value approach I would like to argue that it is the end rather...
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...Corporate Social Responsibility Practice in Australia 24 April, 2016 prepared by Executive Summary This report provides an analysis and importance of CSR reporting in mining industry, how well companies disclose social and environmental issue according to GRI guidelines. This article’s main focus is to describe trends of CSR reporting in mining companies in Australia. This article provides detailed overview of companies reporting format and structure, CSR disclosing motivation, how well company account for job losses and impact of reduction of oil price on companies. The purpose of this report is to describe CSR practice of mining companies in Australia and highlights the importance of sustainability reports regarding social and environmental perspective. This report is based on two major mining companies namely BHP Billiton and Rio Tin. The information used for writing this article is gathered from different researcher, annual reports, newspapers, and online articles, GRI guideline. Only Secondary data used to write report and study based on ASX registered companies companies in Australia are more aware of GRI reporting standards now and also know that how crucial it is to report on the sustainability issues from social and environmental perspective to have long term business and secure future. . Contents Executive Summary i Contents ii Introduction 3 Question a 3 ...
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...The Relevance of Sustainability in Marketing Decision Making Introduction Sustainable marketing calls for socially and environmentally responsible actions that meet the present needs of consumers and businesses while preserving and enhancing the ability of future generations to meet their needs (Kotler & Armstrong 2012, p. 582). The aim of sustainable marketing is to satisfy the customer’s the needs and wants while also putting high emphasis on the environment and the social issues and thus creating profits in a socially responible way. Mention triple bottom line While traditional marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Kotler & Armstrong 2012, p. 5) This essay has been prepared to identify and understand the role of sustainabilty in marketing decision making and its impacts affecting current and future business operations. 1.1. Research Methods Data was collected based on qualitative research. Books, internet and online journals were used to identify different roles of sustainability in marketing. Sustainibilty of marketing by itself is a vast area for study, hence this paper will only focus and critically analysis some of the key aspects of s.m. The topics explored in this research are I. Role of sustainability in marketing II. 1. Sustainable Marketing practices adressing the triple bottom line. Sustainable marketing...
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...4-2 Impacts of Value Added Dunkin' Brands Group Inc.’s consumer base is almost entirely based in the United States, yet the company's presence and impact certainly reaches beyond U.S. borders. However, since the vast majority of Dunkin' Brand’s operation impacts the United States, two indexes known as the Social Progress Index and the Social Progress Capacity Index can serve as references in examining Dunkin' Brand's corporate goals and developmental progress. In order to gain some insight into Dunkin' Brands and how the company aligns with these two Social Progress Indexes, a list of the company's goals and primary values are identified on their website as follows: honesty, transparency, humility, integrity, respectfulness, fairness, and responsibility. In addition to their values, they also pride themselves on guiding principles. Leadership incorporates responsibility and having passion at every level. A sense of innovation and having excellence in everything they do, execution of principles and taking ownership and accountability for results, success and failure and by having social stewardship and demonstrating good corporate citizenship and responsibility to all constituencies all encompasses the overall tone of the how they would like the public to see them. (Farfan) Considering that the Social Progress Index's ultimate mission is global advancement, it is difficult to dismiss any of Dunkin' Brand's values as they all are relatively important to guide...
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...delegate to the Asia Pacific Economic Cooperative. Wilkerson works with Bellwether Services, a consulting group in Atlanta, GA. In addition to strategic sourcing, Wilkerson consults on supply chain cost reduction as well as other sustainability issues. Wilkerson was previously employed by Pepsi-Cola, Nestle Purina, and Dannon Waters of North America. He is a Certified Professional in Supply Management and Certified Six Sigma Master Black Belt. His functional expertise includes global sourcing, global supply chain management, sales and operations planning, and sustainable supply chains. APQC: Why has green sourcing and sustainable procurement become an important topic? John Wilkerson: Leaders at organizations like Dell, AT&T, P&G, and the U.S. government understand our future environmental challenges and potential long-term global impact on business and consumers. These organizations now want their suppliers also to be socially responsible and environmentally fit. So they are putting pressure on their strategic sourcing teams to drive sustainable supply chain performance. Another driver is on the regulatory side. The U.S. Securities and Exchange Commission has issued guidance to publicly traded companies, asking them to communicate their sustainability risks. Public companies have to show the environmental impact of their actions. For example, if you are with an organization that depends on transportation and your actions are harmful to...
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...dimensions it is mentioned that the fish and fish products sectors is facing a certain crisis in their primary resource in which the fish stock is collapsing” (UNEP, 2009, p.14). According to the United Nation’s Food and Agriculture Organization (FAO), the reason of concern for sea food is due to increase in number of overexploited, depleted and recovering stocks (FAO, 2010). The complex causes of wild fish stocks crisis include: overfishing, managing poor fishing, unsustainable fishing practices, and illegal (UNEP, 2009).The demand increased in fishing has exacerbating these issues. Worldwide per capita consumption of marine fishes has almost doubled since the 1960s as like world’s population (Jacquet et al., 2009). The consumption and value of trade of fish product is increased by aquaculture has surged over the last 20 years. Yet, aquaculture demands fishmeal threatens coastal environments to pressure rather than alleviating (UNEP, 2009).As like other products, seafood trade has been growing internationally over the years. The trade of fish has grown from US$51.5 billion in 1998 to US$102 billion in 2008 (FAO, 2010).The supply of seafood has lacks some transparency of ‘underlying facilitator’ of every aspects of the negative fishing sector (FAO, 2010, p.105).It is much difficult purchase fish products responsibly with lack of transparency. Challenges of Wal-Mart’s supply chain: Wal-Mart’s also faces some challenges like other large global companies. There is lot of problems...
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...THE ROLE OF HUMAN RESOURCE MANAGEMENT IN CORPORATE SOCIAL RESPONSIBILITY ISSUE BRIEF AND ROADMAP REPORT FOR PREPARED BY: Coro Strandberg Principal, Strandberg Consulting MAY 2009 CSR and HR Management Issue Brief and Roadmap 2 ISSUE BRIEF AND ROADMAP OBJECTIVE • To understand the foundational elements that need to be in place to foster a high performance CSR (corporate social responsibility) organization and develop a framework or roadmap for firms wishing to become a high performing CSR organization. AT A GLANCE • Human resource professionals have a key role to play to help a company achieve its CSR objectives. Employee involvement is a critical success factor for CSR performance. Human resource managers have the tools and the opportunity to leverage employee commitment to, and engagement in, the firm’s CSR strategy. • High performing CSR organizations foster a culture of CSR and fully integrate CSR throughout their operations, rewarding and incentivizing CSR decisions and initiatives. • Employees prefer to work for organizations aligned with their values; thus, incorporating CSR into the employee brand can enhance recruitment and retention, particularly in tight labour markets. • CSR can be applied to the HR toolkit, resulting in a roadmap or pathway for human resource practitioners to follow who wish to contribute to the achievement of their organization’s sustainability and business aspirations, thereby improving social and environmental conditions...
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...Federal Express Corporation Social Responsibility Strategy Prepared for: Board of Directors FedEx Corporation Prepared by: Kakish Consulting Group: Lily Kakish March 28, 2012 EXECUTIVE SUMMARY In 1994, John Elkington coined the term triple bottom line. (TBL) “As originator of the term, I have often been asked how it was conceived and born. As far as I can remember – and memory is a notoriously fallible thing – there was no single eureka! moment. Instead, in 1994 we had been looking for new language to express what we saw as an inevitable expansion of the environmental agenda that Sustainability (founded in 1987)”. (Johnelkington.com, 2004). TBL consists of the Three Ps: profit, people, and planet. These three are different and separable yet all part of the success when it comes to the “bottom line”. The 21st century companies are called for a higher standard of excellence. This level of excellence should respond to three questions: 1. Are we financially responsible? (profit) 2. Are we socially responsible with the stakeholders? (people) 3. Are we environmentally responsible? (planet) FedEx bought into this business concept before it was politically correct and was one of the corporations that pioneered its role with social responsibility and accountability. Although it is easy to assess the first of these three TBL, it is harder to measure the 2nd (people) and 3rd (planet). Never-the-less, all companies no matter their size, location, and focus should be dedicated...
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...Sustainable Human Resource Management: Is it the future or just an interesting theory? Abstract: The purpose of this work was to understand whether sustainable human research management is a solution for the future of HRM. For this reason a research was made regarding the concept of sustainability, its relationship with HRM, and some early versions of how this concept might work. The research showed that while the general knowledge of this perspective idea has been around for a few decades, researchers have only covered some of the basics about this topic. The research also demonstrated some of the positive implications this idea could inflict if it could actually be successful implemented. From the results it can be concluded that while this is still a raw idea, the recent economic struggles will force organizations to plan ahead and figure out how to achieve sustainability. Introduction: A green and healthy lifestyle is becoming more and more popular all around the world: people are sorting and recycling almost everything after it has been used for the first time, companies are looking for ways to look out for the environment, and governments are spending huge amounts of funds on developing alternatives for oil and other natural resources. People are starting to realize that they cannot continue living like they have for the last couple of centuries; they are starting to think about the future. All of this is being done in order to preserve the most valuable thing that...
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...| A CRITICAL PERSPECTIVE ON STRATEGIC CSR AS A TOOL FOR MARKETING AND BRAND DIFFERENTIATION | | | Mattias Norén, Niklas Nygård | 2014-01-16 | | “What are the underlying reasons for abusive Strategic CSR in marketing and brand differentiation, what are the consequences and are there any solutions?” Introduction to CSR For Corporate social responsibility(CSR) a lot of different definitions exists but the one we chose to use in this report was defined by (McWilliams, Siegel och Wright)) as “actions that appear to further some social good, beyond the interests of the firm and that which is required by law”. This definition defines a wide concept that contains everything from corporate environmental strategies, employee empowerment, health and benefit plans for employees and corporate philanthropy. The linking factor between these different implementations is that corporations and businesses should expand their responsibility beyond absolute necessity and their core stakeholders group. While CSR is very modern as a defined concept it is still based on a lot of old ideas. For example many companies in the late 1800s based its business on scientific betterment which often meant that employee benefits was taken a lot further than the requirements of the law (Barley och Kunda). Today CSR has evolved to something more than the initial idea of expanded responsibility and it’s used as a tool for companies to reach goals outside of areas normally connected to CSR...
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...Journal of Economics, Business and Management, Vol. 1, No. 1, February 2013 Corporate Social Responsibility to Reflect Organization‟s Corporate Identity: A Content Analysis Musdiana Mohamad Salleh, Nabsiah Abdul Wahid, and Malliga Marimuthu Abstract—The authors propose corporate social responsibility (CSR) as a useful element in reflecting an organization’s corporate identity (CI) to its target audiences. The inclusion of CSR highlights organization’s role as a ‘good’ citizen in society and is the basis for any beneficial exchanges between the parties. Content analyses on CSR of 10 top ranked Malaysian companies supported this proposition. Index Terms—Corporate social responsibility, corporate identity, content analysis. effort in integrating their stakeholders‟ social and environmental expectations and/or concerns into their daily operations and their interaction with the stakeholders. B. Corporate Identity Corporate identity (CI) has been used as the basis for other various corporate level concepts like image, reputation or corporate communications; and is even considered fundamental in corporate marketing field [1]-[2]. The traditional VI perspective sees CI being used at the early stage of organization‟s operation as it becomes the mean for CI transmission e.g. through logos, brand images and other visual manifestations representing them [3]. CI has evolved from this definition from focusing only on the minor elements of the organization to now emphasizing more on the...
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...Customer Relationship and Corporate Governance in Sustainability of Business Vinod Krishna U. Makkimane Sr.Faculty Institute of Business Management & Technology Banashankari 3rd Stage, Bengaluru. Sustainability is a dynamic concept born out of the environmental debate of the last quarter century. There is growing concern nationally and internationally about biodiversity and protection of plants and animals and community based activity. It is important to view sustainable efforts from global perspective that addresses socio-economic and environmental issues. Sustainable Development as a norm has been accepted in the literature ever since the publication of the Brundtland Commission report in 1987.The Brundtland Commission defined Sustainable Development as that which "meets the needs of the present without compromising the ability of the future generations to meet their own needs". A primary goal of sustainable development is to achieve a reasonable and equitably distributed level of economic well being that can be perpetuated continually for many human generations. It also implies using renewable natural resources in a manner that does not eliminate or degrade them, or otherwise diminish their usefulness for future generations. Sustainable development also requires depleting non-renewable energy resources at a slow enough rate so as to ensure the high probability of an orderly society transition to renewable energy sources. Mahatma Gandhi has observed long back that...
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...organizations in the world. Sustainability in Supply Chain Management refers to the fact that organization should not only fulfill the wants and expectations of their stakeholders, but also avoid actions that reduce the ability of the interested parties, including the future generations to meet their needs. In order to elaborate, how a leading global organization takes Sustainable Supply Chain Management as a strategic goal, we have prepared our report on GSK’s Sustainability elements. GSK is one of the world’s leading research-based pharmaceutical and healthcare companies, developing and supplying medicines to a huge global market. The company employs more than 97,000 people in over 100 countries and has an extensive worldwide supply chain. GSK’s mission is to help people do more, feel better, live longer. They do this through investing in R&D, adopting flexible approaches to pricing, promoting open innovation, and strengthening healthcare systems. By growing their business and extending access to their medicines, GSK ensures long term commercial success as well as creating value for its shareholders and delivering economic benefits to the wider society. GSK contributes directly and indirectly to the economic growth in more than 150 countries through tax, charitable support and employment of 101,255 people around the world. This report reflects the actions taken up by GSK for achieving sustainability in their supply chain operations. GSK’S top 10 sustainability successes have also...
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...Economics and Business, Greece Angeliki Poulymenakou Athens University of Economics and Business, Greece Chapter XXXV ABSTRACT E-learning attracts considerable interest in contemporary corporate training curricula. As it concerns a considerable investment, organizations that tend to adopt and maintain it effectively and efficiently in the long term need to learn from the pioneers. Authors’ experience and extensive literature review lead to 11 critical success factors, which promise to increase the awareness towards the most common impediments. Those critical success factors include the alignment with business objectives; leadership; empowerment of the learning aspect; technological infrastructure; blended instruction; careful design; evaluation and feedback; time and space to learn; motivation to learn; usability; and complete knowledge of learners’ characteristics. Copyright © 2008, Idea Group Inc., distributing in print or electronic forms without written permission of IGI is prohibited. Critical Success Factors for E-Learning Adoption INTRODUCTION E-learning is increasingly recognized as an important mean in delivering effective and relevant training in the workplace. This new training delivery mode exploits the power of Web networking and capitalizes on corporate technology infrastructures. Research studies and professional reports present the magnitude of e-learning market and trends. Despite apparent financial benefits of e-learning for organizations...
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