...Introduction This essay aims to express my vision and ideas about responsible leadership, a new theory of growing importance. Indeed, previous theories about leadership lost credibility after the financial crisis in 2008. To fill in the gaps of the former theories, a new concept emerges: responsible leadership. In this essay, I first introduce the concept of leadership before expressing my vision of responsible leadership. Leadership In the literature, most of the definitions have common parts. Leaders are individuals able to influence and lead a group of people, by their actions, to achieve a common goal. To do so, those individuals must have a deep commitment to the goal and strive to achieve it. Moreover, they must have a personal vision of the future and inspire their partners so that their vision becomes a common goal for the group. Another characteristic of a leader is that he has persuasive skills and manages to make his/her followers trust him. He is also likely to empower people he works with. Thus, he manages to share responsibilities between team members so that the group becomes more effective. Finally, he motivates people to do their best in their respective fields and also to create a positive team spirit. In the business world, leaders were often associated with outstanding individuals shaped to conceive a competitive advantage for the company. The role of this person was to create value for the shareholders. In other words, one of the most important sides...
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...Leadership and ethics Name Professor Course Date Some of the ethical issues that management may need to address include corporate social responsibility. This refers to the operation of a business or organization in a manner that takes into consideration the environmental and social aspects created by enterprise. It implies the commitment to create policies that include responsible practices in the undertakings of the entity. Corporate social responsibility policies serve as self-regulatory measures for the organization in monitoring and ensuring that it complies with ethical standards, regulations and societal norms. This practice takes responsibility of the organizations actions to facilitate a positive impact of the organizations...
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...during working hours. Additionally, there have been reports that employees work more than 60 hours a week and that workers who refused the overtime hours were punished as a result. Further, there have been reports of workers not being paid at all and reports of workers who are forced to work for wages below the minimum but who have to continue working because those are the only jobs available to them and without them they would not survive. 2. Discuss the meaning and implications of the statement by a Nike representative that “consumers are not rewarding us for investments in improved social performance in supply chains: Nike’s vice president of corporate responsibility, Hannah Jones, explains that “premium brands are in a lonely leadership position” and that premium brands are not being rewarded by their consumers for attempting to invest in improving “social performance in supply chains”. The meaning of this statement is simple; Nike believes that their consumers are not financially supporting their attempts to improve the conditions of their supply chains. What Nike is saying is; why should our organization invest our revenue in something our consumers are not rewarding us for?...
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...exercise leadership to prevent risk management from becoming a series of activities that are de-punched from the realities from the company‟s spirit or activities. Greater emphasis is placed on the board to ensure that it is satisfied with management of risk. According to Zororo Muranda (2006), it is appropriate for many banks, especially large banks and internationally active banks, to have a board-level risk committee or equivalent, responsible for advising the board on the bank‟s overall current and future risk tolerance/appetite and strategy, and for overseeing senior management‟s implementation of that strategy. The Denmark‟s Recommendations on Corporate governance code (2009) provides that, this should include strategies for capital and liquidity management, as well as for credit, market, operational, compliance, reputational and other risks of the bank. Question 1 Par (a). i. Corporate governance issues at Royal bank Corporate Governance can be summed up as the relationship among stakeholders that is used to determine and control the strategic direction and performance of organizations. The following are the corporate governance issues at Royal bank. i. Owners running the entity The board of directors were running the bank and they had The Board of Directors were supposed to be the governing body for a company that takes all...
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...Third Assignment Title: ‘Imagine that you are the CEO of Syngenta, a global agricultural chemicals supply company based in Basle, Switzerland. Read the article about the ‘Pesticide Nun’, then review your strategic options and outline your decision for the future of the UK business.’ Write a statement of the purpose of this assignment. Then identify three sub-questions to be answered: 1.1 What is Syngenta and what does it do? 1.2 Company’s statement of Corporate Responsibility 1.3 Consideration of the evidence presented in the article ‘Pesticide Nun’ 1.4 Strategic positions that Syngenta might take and the conclusion The purpose of this assignment is to consider the evidence of the article ‘Pesticide Nun’ and implications of this ruling for both the UK and the global business of Syngenta. Furthermore, company’s statement of Corporate Responsibility will be discussed and then in the end the conclusion will be drawn with the decision for the future of the UK business. 1.1. Syngenta is a world-leading plant science company based in Basel, Switzerland which promotes sustainable agriculture through inventive technology and research. Furthermore, the company ranks third in the high value commercial seeds market and is a leader in crop protection products (pesticides) (Syngenta, 2009). It has more than 24,000 employees in over 90 countries committed to the purpose to bring plant potential to life. Moreover, through global reach, world-class science and obligation to the customers...
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...OKE STEPHEN SSP12/13/H/0831 CORPORATE SOCIAL RESPONSIBILITY Corporate Social Responsibility (CSR) is typically described as self-regulation that is part of a corporation's business model and strategic plan. In a perfect world, CSR means that a business monitors itself to make sure it adheres to legal, ethical, environmental, and international standards across its operations. The more visible aspect of CSR is a corporation's willingness to promote and support community, national, and global causes. Corporations do this through corporate philanthropy, cause-related marketing, and sponsorships. CSR aspires to honor people, planet, profits...in that order. Corporate initiative to assess and take responsibility for the company's effects on the environment and impact on social welfare. The term generally applies to company efforts that go beyond what may be required by regulators or environmental protection groups. Corporate social responsibility may also be referred to as "corporate citizenship" and can involve incurring short-term costs that do not provide an immediate financial benefit to the company, but instead promote positive social and environmental change. Companies have a lot of power in the community and in the national economy. They control a lot of assets, and may have billions in cash at their disposal for socially conscious investments and programs. Some companies may engage in "greenwashing", or feigning interest in corporate responsibility, but many large...
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...Critically evaluate the extent to which the concept of corporate social responsibility encourages responsible business practices. To support your evaluation and argument, include an appraisal of how two companies currently promote social responsibility. In order for companies to positively impact their communications with their stakeholders many companies like Nike and Goldman Sachs are continuously seeking new ways of carrying out corporate social responsibility Reeves (2012). The re-developments of corporate social responsibility often derive from responding actively to emerging and current issues in society (REFERENCE). (REFERENCE) describes current issues such as, human rights, labour, and environmental practices that Nike and Goldman...
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...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 century Leadership” on October 24, 2005 form part of this case study. The analysis also includes the 2005 retreat proposals by Wal-Mart Board in respect to meeting specific challenges. A discussion of the initiatives as outlined in the “Supplemental Benefits Documentation: Board of Directors Retreat FY06" also forms part of the analysis. The additional damage done to Wal-Mart by the leaking...
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...socially responsible company 4 Factors considered by the SRI funds/investors for investing into any company 4 Sources to gather the information for the decision making process 4 Different strategy used by the funds to make SRI decisions 5 6. Two examples of SRI funds: Composition and unique features 6 A. Triodos Sustainable Equity Fund 6 B. Calvert Capital Accumulation Fund Class C 6 7. A Company with SRI investment: Starbucks 7 About the company 7 Sustainability initiatives 7 Controversies 8 ESG Ratings 9 8. Conclusion 9 9. Appendices 10 10. References 10 1. What is SRI? Socially Responsible Investing (SRI) is sometimes referred to as “sustainable”, “socially conscious”, “mission,” “green” or “ethical” investing. In general, socially responsible investors are looking to promote concepts and ideals that they feel strongly about. The idea is that if oneinvests in companies that cause social or environmental harm, then one is profiting from their evil. SRI is an approach under which socially and environmentally conscious investors channel their funds towards those companies which have a positive impact on the community and environment, and avoid doing harm due to their operations. This approachcompels companies seeking a share of these investments to modify their practices to be eligible for such investments. Investors may be investment funds, or individual investors. Individual investors seeking to invest in a socially responsible manner...
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...Assignment 1: Corporate Responsibility and Marketing Strategies BUS 508 – Contemporary Management Strayer University Introduction This assignment will examine the private enterprise systems, drivers of change on the system, ethical and social responsibilities of business, and the requirements for success in today’s business environment. Abysmal corporate ethics and social responsibility has been spotlighted in the media with events such as the Enron scandal in 2001, the BP oil spill in 2010, and more recently, the labor practices at Apple’s, China based, Foxconn factory in 2012. In an ever more competitive market place, events such as these bring ethics and social responsibility into the forefront of qualifying factors required to earn trust that equates to money from consumers. (Alijani 2012, Boon 2012, Duhigg 2012, Ewing 2013) Apple’s Current Position on Ethics and Social Responsibility Through transparency, Apple has spun this very public, internal defect of absent ethical and social responsibility by publishing a Code of Conduct, Supplier Responsibility Standards, and Working-Hours Reports on its commercial website. Additionally, Apple flooded the media with reports about it’s clean up efforts. For example, in February 2012, Apple announced it was the first technology company admitted to the Fair Labor Association (FLA). The FLA conducts independent monitoring and verification to ensure that the FLA Worklpace Standards are upheld (Apple 2014). Impact...
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...Social Responsibility The benefits and suggestions to adopt CSR The essay will discuss the topic of social responsibility. It will explain the how companies in controversial industry sectors maintain reasonable, socially responsible standards whilst making their strategic decision, and present what benefits they can gain from them. Throughout this essay, empirical research and examples from academic literature will be described to substantiate the discussion. This essay uses the definition of corporate social responsibility used by Enz (2010) conceptualizing CSR as‘ CSR is concerned with the integration of environmental, social, economic and ethical considerations into business strategies and practices’. It is generally believed that social responsibility plays more and more important role in organization. Firms with good social responsibility may attract better employees and raise current employee’s loyalty, commitment and motivation to the company. A sociallly responsible company can act ethically and be willing to improve society. There are four types of corporate social responsibility: the economic responsibility , the legal responsibility, the moral commitment and the discretionary responsibility. (Enz 2010) Economic responsibility means that the company has the duty to be profitable and productive and meet the consumer demands of society. Legal responsibility, such as the achievement of economic goals within the limitation of written law. Moral commitment observed by unwritten...
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....The aim of CSR is to do better for society through business. CSR is a broad concept, so it has different meaning given in this term. Anders George and Guido Palazzo mentioned the involvement of CSR by explained it as "umbrella term" and also the importance and duties of business for society ( Oliver, F. Williams).According to Koestler, CSR is way to educate the firms to be concerned many social problems, which are related with their business also(2007). Mondaq business Briefing (2012, Aug.24) stated that CSR helps the companies to operate their business in a method which bring pros for them as well as for stakeholders who are affected by their activities. Through CSR, business becomes responsible to behave morally and provide their services to development the society. They are also responsible for improving the life of workers and their families as well as of the local community and society (Lord Holmen and Richard Watts, 1999). Now, business and markets become the new drivers of world growth. Many countries including India, Brazil, and China etc. are planned to take steps under CSR for providing food, water and energy for more people. CSR has various ares like economic, environmental, ethical and social. This eassy is about to different methods related with social issues, economic development and environmental awareness which are helpful to business for incorporate CSR into their business models. . In the society...
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...SR CLP Power HK Limited is one of the two power suppliers in Hong Kong. It established in 1901 which has over a century experience for providing power and serving to Hong Kong people. The 3 categories of CLP business are electricity generation by using renewables, natural gas and coal, electricity transmission and electricity supply to over 5.5 million people in its supply area. The CLP is successfully expanding the business developments into Chinese Mainland, Australia, India, Southeast Asia and Taiwan; it has become one of the leading power companies across Asia now. The CLP obtains its philosophy of customer-oriented for providing highly reliable electricity to customers by world-class power supply in Hong Kong. The mission of CLP is to produce and supply energy with minimal environmental impact to create value for shareholders, employees and the wider community. In 2010, the CLP was awarded The Standard Award for Best Retention Strategies by Key Media, HRM Awards. The voluntary turnover rate of CLP is 3.1% in Hong Kong in 2010, it is the lowest rate in the businesses of other countries and a lower rate compared with many organizations. How can the CLP sustain its company in low turnover rate in Hong Kong? The followings are the reasons that we analyzed through the research findings on successful retention strategies in different human resources aspects. Throughout the corporate social responsibility in community, the CLP can build the positive image. The positive image...
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...Jessica Macaluso Dr. Smith-Hunter Sociology of Work April 14, 2015 Rewriting the Corporate Social Responsibility Equation Many people believe that corporate social responsibility begins with the cause of the problem. In “Rewriting the Corporate Social Responsibility Equation” by David Hessekiel, he explains that the equation begins with the business objective instead. If an organization focuses on how to incorporate corporate social responsibility into its business plans, it can benefit both parties greatly. Focusing on business before finding a cause to support may seem selfish. Perry Yeatman, from Mission Measurement says “…whether the business outcome is saving money or generating revenue, social impact efforts must be tied to mission critical activities in order to receive the funding, staffing and attention they need to succeed” (1). The best way for an organization to approve an investment in a worthy cause is to prove that it fits the overall business plan. If the investment does not provide a benefit for the company, it will be very vulnerable to budget costs later on down the road. Kraft Foods provides a great example of how they put business objectives first regarding the corporate social responsibility equation. Being “one of the largest buyers of branded cocoa in the world”, Kraft decided that they would support a supply chain issue for cocoa production in Ghana by dedicating millions of dollars to the cause. Their investment vastly improved the...
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...Critics of negative screening charge that merely excluding companies for their socially repugnant practices has no net impact, because there is always someone out there that willing to buy their shares instead. They assert that screening offensive companies may make the investor feel better about where they are putting their money, but they are not helping encourage social change and environmental improvement. But negative screening still has an appropriate place in the quiver of tactics used by socially responsible investors, to be complemented by positive screening and shareholder activism, and will remain the most palatable starting point for many. It is also important to note that while one investor excluding their investment from a company because of a particular activity will not make that company mend its ways, its the cumulative effect that's important. This is analogous to voting in a national election, where individual votes collectively create a "voice." For example, the recent struggles of the tobacco industry illustrate the cumulative and emergent effects of investor and consumer advocacy over its health effects. Most people imagine that the majority of companies included by positive screening are smaller companies embarking on products that may contribute to the world's future economic and environmental sustainability. Alternative forms of energy that produce less pollution, such as solar power, wind power, and hydrogen fuel cells, constitute a rapidly growing...
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