...an economically, socially and environmentally sustainable manner that is transparent and increasingly satisfying to its stakeholders. Stakeholders include investors, customers, employees, business partners, local communities, the environment and society. The emphasis is on transparent and verifiable stakeholder driven business operation delivering optimised sustainability performance and associated competitive advantage. Sustainable business operation means addressing the needs of present stakeholders while seeking to protect, support and enhance the human and natural resources that will be needed by future stakeholders. CSR describes the principle that companies can and should make a positive 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...
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...The Colourful Corporation [pic] Research Study: Prosperity without Growth? Executive Summary The aim of this report is to identify and define the conditions that create a sustainable economy and report on the effects they might have on the future governance, vision and strategy of The Colourful Corporation. In doing so the report has analysed the most pressing issues that relate to the development and continuation of a sustainable economy. The research has been undertaken at the request of the CEO and uses academic literature as its backbone. Overall the report found that there are many factors that are consistent with a sustainable economy with the following being researched: science & technology; ecology & sustainability; population, demographics, society & culture as well as economy, geopolitics & security. The report concludes that the future of the global economy will be built on innovation, low-waste, long-term planning and will be developed in harmony with the natural environment, and that these factors should be used in the development of the company’s future vision and strategy. The report recommends that the company: • Invest in Research & Development (R&D) • Decrease the use of chemicals, pesticides etc. in production & process work • Further research the implications of population growth and cultural homogeneity and its effects on the company. • Take a cautious approach to large financial investments Table of Contents ...
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...concept of sustainable development spread first into the mainstream in the 1980s. These years, driven by internal and external factors, many corporations are beginning to integrate sustainability into their business models to gain competitive advantage in today’s market. This essay will introduce what forces the corporation to become sustainable and what corporation can do to achieve sustainability while listing an example of an ideal corporation in this term. Both of the external and internal drivers accelerate transformation towards sustainability for corporation. The worsening environment in China is prominent power for moving to sustainability currently. The push to clean up the country's air, land and water has forced company to transform its developing model. Though China has become the world's second- largest economy, it is still in the lower part of the world's industry chain and has a lot of industries with excessive energy consumption and high pollution. Due to social and economic factors, Hebei provincial government in January this year has banned approvals of new steel, cement, glass and nonferrous metal plants-these industries are both environment killers and economic drivers in Hebin (Jin Haixing 2014). It can be seen that these industries have to change their way of operation, which can add the most value with the least use of resources and pollution. Meanwhile, increasing public awareness of sustainability has provided new opportunities for corporations in the...
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...MANDATORY TO BE IN BATTLE –CORPORATE SUSTAINABLE DEVELOPMENT Dr PP Singh-Director, C.T Group of Institutions Maqsudan Campus Jalandhar. Arora Gaurav Singh-Management Faculty, Lovely Professional University Jalandhar. Rohit Kapoor-MBA-International Buisness,Lovely Professional University Jlandhar. Abstract In the current Business environment we often come across some facts where corporate enterprises form strategy to meet the second biggest challenge after transforming its business into corporate. The mainstream of the literature on corporate sustainability follows the win–win paradigm, according to which economic, environmental and social sustainability aspects can be achieved simultaneously. Where making profit is one primary objective and challenge for any corporate on the other front dynamism in the business environment lays corporate to plan down certain strategies to sustain in the battle irrespective of the crest and troughs in the business. This paper examines various strategies adopted by the companies to sustain ie- Corporate and social responsibility, stake holders management relations, environment management or it also the cost cutting part to be on the kitty to maintain the balance of revenues. The paper also highlights the manipulation of figures by the companies to be the arena. Introduction Corporate sustainable development means a formulation of Business strategy that puts the company in the drivers...
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...customers and build a better future. The corporate culture is founded on integrity, courage, teamwork and commitment. Hilti excels through outstanding innovation, top quality, direct customer relations and effective marketing. Two-thirds of the employees work directly for the customer in sales organizations and in engineering, which means a total of more than 200,000 customer contacts every day. Hilti has its own production plants as well as research and development centers in Europe, Asia and Latin America. Founded in 1941, the worldwide Hilti Group evolved from a small family company. Since 2000, the Martin Hilti Family Trust holds all shares and, since January 2008, all participation certificates of Hilti Corporation. This safeguards the further development of the company founder Martin Hilti’s life’s work in the long term. Hilti upholds a clear value orientation and pursues a policy of stakeholder value. Integrating the interests of all the company’s partners – customers, suppliers and employees – into its strategy and actively honoring its social and ecological responsibility creates the foundation of trust that makes possible the long-term success of the company. Hilti Corporate culture Mission statement Enthusiastic customers Create success for the customers by identifying their needs and providing innovative and value-adding solutions. Build a better future They foster a company climate in which...
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...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 concept is quite fresh in todays...
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...Introduction The statement of the question is sometimes true but not always. Definitely, Transnational corporations(TNCs) have brought in both problems and benefits to the local communities, as TNC requires resources and communities need economy developments. However, I would not agree that they had always brought in more problems than benefits to the local communities in which they invest. TNCs were involved in local communities development for long history, they had made huge contribution during the period. The problems happened at the local communities in which the TNCs invest are not responsibilities of TNC only, the local government bodies like governments, legal systems, financial institutions, and etc are also partially responsible for problems of local communities. Whenever corruption, breaches to human rights and laws happen, local governments and other local business entities are normally also involved. Generally speaking, I would agree that some TNCs may have brought in more problems than benefits to the local communities, however, most of responsible TNCs who seek for win-win results of the business operations have brought in more benefits than problems to the local communities. The Extent to Which the Statement is True Th problems brought over to the local communities around the world normally involve the natural environment pollution, increased gap between poverty and rich, cultural inflicts, and etc. As TNC take advantage o their advanced Technology and...
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...transparent organizational management; careful consideration of the global environment, human rights, employment and in particular, compliance with ordinances, regulations, and laws.CSR can lead to more sustainable corporations by encouraging good relationships with society. it is not easy for all to achieve the required level of CSR. Establishing CSR is not a simple task, nor is it free from risks and problems. CSR requires support not only from shareholders and investors but also from customers, employees, and communities. Salman Khurshid, Minister of state for corporate Affairs, Government of India, made his standpoint on CSR very clear. Mr.Khurshid said that CSR should be quantifiable like carbon credits as corporate cannot behave irresponsibly in social responsibility and should act in, “enlightened self interest”. The ministry review of CSR projects to ensure that the funds are used in the genuine progress of society. CSR projects include encouragement of literacy and higher education ,grant of scholarship and aid to deserving young pupils of less privileged sections of society ,facilities for constructing schools, renovation of school buildings and other infrastructure .Besides ,the company also pays out for healthcare and family welfare development .The emphasis is also on development of infrastructure facilities –improvement of roads ,bridges ,street lighting ,draining system and progress of agriculture and cottage industries. Meaning of CSR: - Corporate social responsibility...
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...Corporations can create shared value by using their core capabilities in ways that contribute to both social progress and economic success. Some developing countries have experienced phenomenal economic growth, but that growth has not been inclusive. In recent decades, developing countries have experienced a rapid rate of economic growth. Although this has led to higher incomes and better health for many Developing countries, we still have far to go to make this growth truly inclusive. Developing countries are expected to fall short on several Millennium Development Goals: by 2015, it is expected that 40 percent of Developing countrie’s children will remain undernourished, and Developing countries will have progressed only halfway toward its goals for decreasing infant mortality. Inequality, poor public health, and environmental degradation will increasingly constrain their economic growth. Corporations play a critical role in achieving inclusive growth. Government is often seen as the answer to society’s problems, but spending by the Government of Developing countries alone will likely be insufficient to address these critical issues. governments can encourage contributions from the private sector by passing legislation and using its purchasing power to create a supportive, enabling environment. Philanthropy can also help catalyze change, but charity has a limited ability to sustainably achieve scale. The private sector, however, possesses skills and technologies necessary...
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...views of world politics have all necessitated the re-evaluation of the business-society relationship and facilitated the 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...
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...corporate social responsibility (CSR) is being discuss and debate over the decade. The discussion of CSR started since 1950s and it continued to grow in importance and significance. In spite of the seeming endless discussion about it, it has seen a lot of development in both academic and practitioner communities all over the world (Carroll and Shabana, 2010). According to Nolan et. al (2009), CSR is use to build up good rapport with the public. Corporates always use it as a strategy to save their skin from unforeseen risks and corporate scandals, brand differentiation, governmental rules and regulations, possible environmental accidents, protect eye-catching profits, and better relationship with employees based on volunteerism terms. Corporation like Gardenia, Nestle and YTL corporation always publish their CSR activities on their websites, sustainability reports and their advertising campaigns in order to get attention and build awareness of the to public, and the main objective behind this is to get sympathy of the customer. Nowadays, ethical behavior issue is getting more and more attention by both public and government. Thus, corporates are encouraged to incorporate CSR as part of their business strategies, mission statement and values in multiple domains,...
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...INTRODUCTION In our report, we will be discussing on one of the major driving force for the long-term profitability and competitiveness of a firm, i.e. Sustainable Supply Chain Management. This has become one of the most recognized strategic goals by the leading global 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...
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...regarding Elsevier’s archiving and manuscript policies are encouraged to visit: http://www.elsevier.com/copyright Author's personal copy Organizational Dynamics (2010) 39, 353—356 a v a i l a b l e a t w w w. s c i e n c e d i r e c t . c o m journal homepage: www.elsevier.com/locate/orgdyn Why Nike kicks butt in sustainability Marc J. Epstein, Adriana Rejc Buhovac, Kristi Yuthas Nike Inc. has a unique combination of capabilities and competencies that position the company as a leader in sustainability. Nike is among the world’s most prominent sustainable corporations, and is regularly recognized by organizations that rank sustainable performance. For example, Nike has been named one of 100 most sustainable corporations in the world by Innovest, ranked third in Corporate Responsibility Officers 100 Best Corporate Citizens list, and named one of the World’s Top Sustainable Stocks by Sustainable Business. Nike possesses a unique combination of strengths and capabilities that enable the company to make rapid advancements in sustainability that are ahead of other firms in its industry, and that increasingly contribute to the financial performance of the company. Nike believes that we are at the beginning of a shift from a service- or...
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...Green Technology: A Cost Benefit Analysis of Business going Green Cost Benefit Analysis of Green Technology. I. Introduction Many business owners fear the costs associated with going green and although the net return varies according to the sector, in most cases these fears are unwarranted. Sustainable business practices should be evaluated based on a cost/benefit analysis. The benefits for things like brand reputation and employee loyalty, must be weighed against the costs and risks. When considering the value of sustainable practices businesses need to be notified of a wide range of benefits. Human resources are a good example of a department that benefits from greener practices. According to The Harvard Business Review’s summary of a number of green building studies, green facilities have been shown to increase the productivity of employees. Research further reveals that retailers who installed skylights saved energy and boosted sales by as much as 40 percent. Other research has indicated that loyalty and morale are positively impacted by a green workplace. Greening a physical environment contributes to health and reduces sick days. MonsterTRACK.com study revealed that people want to work for a company that is green. These factors enable green companies to attract and retain the best people, while saving human resources time and money. Green initiatives can save money, strengthen...
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...com/flash/csr/dasani/index.html http://en.wikipedia.org/wiki/Coca-Cola http://en.coca-colahellenic.rs/Aboutus/Production/Experiencetheproduct/ http://www.thecoca-colacompany.com/ourcompany/leadership.html http://www.cokecce.com/ http://www.gbchealth.org/member_profiles/coca-cola_company/ http://www.championvending.com/finallists/fullproductlist.pdf http://www.youtube.com/watch?v=JE93ncug6bw https://www.google.com.vn/search?q=coca+cola+process+production&hl=vi&noj=1&site=webhp&prmd=imvns&tbm=isch&tbo=u&source=univ&sa=X&ei=JUt0UIYbiY6ZBa3ogYAH&ved=0CD0QsAQ&biw=1024&bih=475&sei=Mkt0UJvuFqrmmAXl44DoBg BACKGROUND The Coca-Cola Company (NYSE: KO) is an American multinational beverage corporation and manufacturer, retailer and marketer of non-alcoholic beverage concentrates and syrups.[2] The company is best known for its flagship product Coca-Cola, invented in 1886 by pharmacist John Stith Pemberton in Columbus, Georgia.[3] The Coca-Cola formula and brand was bought in 1889 by Asa Candler who incorporated The Coca-Cola Company in 1892. Besides its namesake Coca-Cola beverage, Coca-Cola currently offers more than 500 brands in over 200 countries or territories and serves over 1.7 billion servings each day.[4] The company operates a franchised distribution system dating from 1889 where The Coca-Cola Company only produces syrup concentrate which is then sold to variousbottlers throughout the world who hold an exclusive territory...
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