...Introduction The Body Shop is the second largest cosmetic franchise in the world and a global manufacturer as well as retailer of naturally inspired. It has 2,400 stores which are located in 61 countries all around the world. The registered name of The Body Shop is called The Body Shop International plc and it’s headquarter is placed in Littlehampton, West Sussex, England. The Body Shop is well known for its cosmetic products such as Body Butter, Peppermint Foot Lotion and Hemp which are manufactured by natural ingredients. The Body Shop instituted pioneering social responsibilities and ethical stances as their key branding strategy which emphasized on “Natural” and “Environmentally Friendly”. For example all their ingredients used to produce their products are not tested on animals; they give monetary donations to the communities and they had business partnership with developing countries, compared to its products. From the view on the history of Body Shop, Anita Roddick and her husband Gordon Roddick were enthused to company a beauty products store after seeing a store called ‘The Body Shop’ in Berkeley, California during their visit to United States in 1970. The shop sold cosmetics products ranging from shampoos, lotions, and body creams in small plastic containers. On the 27 March 1976, Anita and Gordon opened a copycat version at 22 Kensington Gardens, Brighton, England, also calling their new store “The Body Shop”. Besides, they also copied the green color scheme as well...
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...organisational purposes of businesses by identifying the purposes of different types of organisation, describing the extent to which an organisation meets the objectives of different stakeholders and explaining the responsibilities of an organisation and strategies employed to meet them. Identify the purposes of different types of organisation It is necessary for an organisation that, before it devises its strategy, it must know where it is going and in what direction to move to pursue such aims. J Thompson (1990) describes the mission statement of a company as defining the primary purpose of the organisation, what business it is in and, whom the company is seeking to serve and satisfy. Therefore, the organisation activities should revolve around the mission statement. Many companies, in order to remind employees about their roles and what is being pursued, they have mission statements on the wall. Furthermore, Vision builds up on the Mission Statement, that is, what the organisation aims to grow in the future. Richard Koch (1997) defines vision as a long-term target of how the organisation be shaped in the future and what it could become. Additionally, he clearly differentiates the mission, that is the company’s role and nature and; the vision, that is, what the company could turn into the future. To maintain focus on the direction needed and to have success, aims are necessary for the organisation. These aims can include profit, market share and development and return on capital...
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...INTRODUCTION TO ETHICS WHAT IS ETHICS Ethics is a major branch of philosophy, encompassing right conduct and good life. It is significantly broader than the common conception of analyzing right and wrong. A central aspect of ethics is "the good life", the life worth living or life that is simply satisfying, which is held by many philosophers to be more important than moral conduct. Simply put, ethics involves learning what is right or wrong, and then doing the right thing -- but "the right thing" is not nearly as straightforward as conveyed in a great deal of business ethics literature. Most ethical dilemmas in the workplace are not simply a matter of "Should Bob steal from Jack?" or "Should Jack lie to his boss?" (Many ethicists assert there's always a right thing to do based on moral principle, and others believe the right thing to do depends on the situation -- ultimately it's up to the individual.) Many philosophers consider ethics to be the "science of conduct." Philosophers have been discussing ethics for at least 2500 years, since the time of Socrates and Plato. Many ethicists consider emerging ethical beliefs to be "state of the art" legal matters, i.e., what becomes an ethical guideline today is often translated to a law, regulation or rule tomorrow. Values which guide how we ought to behave are considered moral values, e.g., values such as respect, honesty, fairness, responsibility, etc. Statements around how these values are applied are sometimes called moral or ethical...
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...RESEARCH REPORT 16 CORPORATE SOCIAL RESPONSIBILITY A ROLE IN GOVERNMENT POLICY AND REGULATION? Constantina Bichta The University of Bath School of Management is one of the oldest established management schools in Britain. It enjoys an international reputation for the quality of its teaching and research. Its mission is to offer a balanced portfolio of undergraduate, postgraduate and post-experience programmes, research and external activities, which provide a quality of intellectual life for those involved in keeping with the best traditions of British universities. CORPORATE SOCIAL RESPONSIBILITY A ROLE IN GOVERNMENT POLICY AND REGULATION? Constantina Bichta Desktop published by Jan Marchant © The University of Bath ISBN All rights reserved Centre for the study of Regulated Industries (CRI) The CRI is a research centre of the University of Bath School of Management. The CRI was founded in 1991 as part of the Chartered Institute of Public Finance and Accountancy (CIPFA). It transferred to the University of Bath School of Management in 1998. It is situated on the 8th floor of Wessex House (North), adjacent to West car park. The CRI is an interdisciplinary research centre investigating how regulation and competition are working in practice, both in the UK and abroad. It is independent and politically neutral. It aims to produce authoritative, practical contributions to regulatory policy and debate, which are put into the public domain. The CRI focuses...
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...Health and Safety in the health and social workplace Name: OLUWOLE. F. OMITOYIN Introduction: This essay intends to demonstrate a clear understanding of health and safety legislation and its implementation in health and social care settings. A review of systems, policies and procedures for communicating information in relation to legislations and individual responsibilities in term of managing health and safety will be considered. While safety priorities and how they are being implemented will be looked into. The use of information from care plan; the importance of risk assessment, the impact of policies on health care practices and how dilemma situation are managed and in addition consequences of non-compliance with law and regulation will be discussed. Lastly, the essay will critically look at how health and safety arrangement are monitored and review and also analyse the effectiveness of positive health and safety culture in health care organisation. In conclusion, my own contribution to health and safety needs will be discussed and recommendation made. Task 1: 1.1 According to oxford English dictionary (2014) “Policy is defined as a course or principle of action adopted or proposed by an organisation to direct and limit its action in pursuit of a long term goals,” examples smoking policy, manual handling policy. While a procedure on the other hand is an established or official ways of doing things or a series of actions conducted in a certain order or manner...
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...& ANALYSIS OF PREVIOUS RESEARCH The concept of social responsibility is not new. Although the idea was considered in the early part of the twentieth century, the modern discussion of social responsibility got a major impetus with the book "Social Responsibilities of the Businessman" by Howard R. Bowen. Bowen suggested that business should consider the social implications of their decisions. Fortune magazine annually assess America's most Admired Corporations and does so by evaluating over 300 organisations against 8 criteria, one of the eight used is "Community and Environmental Responsibility". Firms such as Merck, Rubber maid, Procter and Gamble, Wal-mart, Pepsico, Coca-cola and 3 M have received consistently high overall ratings. The presence of strong social values such as social responsibility has a powerful impact on organisations and their actions. It leads them to use a socio-economic model of decision making in which both social costs and benefits are considered along with the traditional economic and technical values. “Corporate social responsibility in the form of corporate philanthropy, or donating to charities, has been practiced since early 1800 at least in the US (Sethi, 1977). It was legitimate in so far that it directly benefited the shareholders, and corporate donations were mostly on the agenda of those companies that could afford it. Today’s concept of corporate social responsibility was developed primarily during the 1960s in the USA with...
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...on 31st December 1947 the government took control of the railway industry and British Rail ran it. In 1994 the railway industry was privatised and its services franchised to train operating companies such as Virgin and First Group. Responsibility for the infrastructure passed to a new plc called Railtrack. In 2002, the government transferred the assets and business of Railtrack to a new not-for-dividend company – Network Rail. When Network Rail was created it needed to invest in the tracks and services. Since 2002, it has made many improvements. For example, in 2005 it replaced or repaired over 700 miles of rail. Network Rail is a company limited by guarantee with a board of directors but no shares or shareholders. Instead, it has unpaid stakeholder 'members' who check standards of corporate governance and monitor performance. Strategy and the external environment The external environment is the context in which a business operates. This takes in various factors including those outside its control, for example, laws or standards. Each factor can have an effect on the business – positive or negative –and so companies make plans and strategies to try to anticipate these effects. If a company does not plan for external environment changes or ignores them, then it may miss opportunities to grow or suffer setbacks, for example, losing business to a competitor. Every business strategy is designed to meet objectives and achieve targets. Ordinary firms must add value...
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...aCHAPTER 1 BUSINESS ORGANISATIONS At the end of this Module the student shall be able to: Understand the various types of business organisations that can be established. Appreciate the advantages and disadvantages of each type of business Introduction A business activity is any legal activity that may be owned by one person as a sole proprietor or can be owned jointly by two or more people thereby creating a partnership. The main aim of many business operations is to make a profit either in the short or long term. A business activity is not only trading activities like the popular Kantemba business that have spread along many high ways in cities and towns. A business may be in the form of manufacturing something for sale, buying and selling for profit, providing services etc. Some examples of businesses include banking, insurance, retail trade, producing beer, providing educational services, Shoprite Chain Stores, Game stores, Internet services, tourist lodge or hotel, transport services etc. Element 1.1 Types of Business Enterprises A business may be owned by one person as a sole proprietor or can be owned jointly with another person or partner as a partnership. Another way in which a business could be owned is through the establishment of a limited liability company. A limited liability company can be privately or publicly owned. Another form of business organization could be through a cooperative society. The government may on behalf of the entire citizenry own businesses...
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...PRINCIPLES OF MANAGEMENT lecture notes Document Transcript • 1. UNIT I OVERVIEW OF MANAGEMENT Definition - Management - Role of managers - Evolution of Management thought - Organization and the environmental factors – Trends and Challenges of Management in Global Scenario. 1 • 2. Management - as how the mind controls the human body and its function similar management (mind) controls the various activities ( human body) in the Organisation - Collection of physical equipments, 4 M’s in Organisation – Men, Machine, Materials, Money, and leads to nothing. For efficient and profitable functioning it is necessary that all these factors are put to work in a co- ordinated manner. Management Definition Management is the art of getting things done through others. Harold Koontz Def as “ Management is the process of designing and maintaining an environment in which individuals, working together in groups efficiently to accomplish selected aims” • Managers carry out their managerial function • Applies to any kind of Organisation •Applies to managers at all Organisational levels •Aim is to create a surplus •Concerned with productivity, implies effectiveness and efficiency •Mgt of 4 M’s in the Orgn – Men, Machine, Materials & money Characteristics of Management • Mgt is Universal • Mgt is dynamic • Mgt is a group of managers • Mgt is Purposeful • Mgt is goal oriented • Mgt is integrative Function • Mgt is a Social process • Mgt is a Multi-faceted discipline • Mgt is a continuous process...
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...students can benefit. ONLY with your support can the site exist and continue to provide free study materials! Visit opentuition.com for the latest updates watch the free lectures that accompany these notes; attempt free tests online; get free tutor support, and much more. OpenTuition Lecture Notes can be downloaded FREE from http://opentuition.com Copyright belongs to OpenTuition.com - please do not support piracy by downloading from other websites. r The best things in life are free IMPORTANT!!! PLEASE READ CAREFULLY To benefit from these notes you must watch the free lectures on the OpenTuition website in which we explain and expand on the topics covered In addition question practice is vital!! You must obtain a current edition of a Revision / Exam Kit from one of the ACCA approved content providers they contain a great number of exam standard questions (and answers) to practice on. You should also use the free “Online Multiple Choice Tests” and the “Flashcards” which you can find on on the OpenTuition website. http://opentuition.com/acca/ December 2015 Examinations ACCA P1 1 Content 1. Corporate Governance 2. Approaches to Corporate Governance 11 3. The Board of Directors 19 4. Board committees 37 5. Corporate Governance and Corporate Social Responsibility 49 6. Corporate governance – control systems 57 7. Auditors and Internal Controls 61 8. Management Information Systems ...
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...the key differences between the western and Asian approaches to help business leaders explore the best aspects of both. Conclusions 1. The corporate governance model that’s familiar in Asia, Africa and most developing nations places strong emphasis on trust and relationships. This can be beneficial for stakeholders: the typical pattern of ownership in businesses means that there can be a longer-term view of an organisation’s success compared with that in a western company. But the system is potentially vulnerable to corruption and cronyism. It can also be difficult to implement basic control procedures. 2. The prestige of what can be broadly termed the western governance model has diminished in the aftermath of the financial crisis. This model has driven globalisation and has emphasised a combination of legislation and standards as well as transparency, with a focus on developing appropriate structures, processes and frameworks. This is widely understood and helps to create a level playing field. But major financial failures over the past two years, such as that of Lehman Brothers, have shown that there are limits to what can be done to tighten checks and balances. A new emphasis on the behavioural aspects of governance is overdue. 3. Both models have their strengths and it is important to understand the benefits and drawbacks of each. CIMA’s model of boardroom leadership is useful in illustrating the importance of both behavioural and structural issues in achieving...
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...responds to whom? Corporate Culture and the question of communicating Responsibility Ludger Heidbrink, Peter Seele Working Papers des CRR Nr. 2/2007 ISSN 2190-5398 www.responsibility-research.de Who responds to whom? Corporate Culture and the question of communicating Responsibility Ludger Heidbrink, Peter Seele Nr. 2/2007 ISSN 2190-5398 2 Who responds to whom? Corporate Culture and the question of communicating Responsibility Prof. Dr. Ludger Heidbrink Prof. Dr. Dr. Peter F. Seele CRR (Center for Responsibility Research) Kulturwissenschaftliches Institut, Essen Outline There are as many opinions on business and ethics as there are statements. In this paper we present the major positions in this ongoing and increasing debate and categorize them according to their ratio as business or ethics, business and ethics and finally ethics in business. In this paper we also present the view, that ethical issues are not separated but connected from business in terms of making profit. We also argue against a strong normative idea of business ethics claiming social responsibility as objective for corporations. After introducing the most common concepts to manage ethics (Corporate Social Responsibility (CSR) and Corporate Citizenship (CC)), we identify Corporate Culture as crucial parameter to combine business and ethics by the notion of responsibility. Spheres of corporate responsibility: formal and informal institutions The wording in corporate ethics is of major...
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...*HRM - Quality of work life* Working title – "Quality of work life" Quality of work life can be defined as the environment at the work place provided to the people on the job. QWL programs is the another dimension in which employers has the responsibility to provide congenial environment i.e excellent working conditions where people can perform excellent work also their health as well as economic health of the organization is also met. The quality of personal life is always reflected in professional life and vice versa. Now a day to retain the employees in the organization providing healthy QWL is the key factor. In earlier times QWL means only job enrichment. In addition to improving the work system, QWL programs usually emphasize on development of employee skills, the reduction of occupational stress and the development of more co-operative labor-management relations. The components of Quality of Work Life may vary from organization to organization, individual to individual but some of the basic components are – 1. Free communications – open communication in the organization with the co- workers is the vital factor that ensures good quality of work life. It leads to more of informal communication between co-workers and subordinates during the rest hours of the organization. 2. Reward system – reward is related to monetary or non monetary rewards eg- incentives, movie tickets, family health insurance, sponsoring the education of children etc.any...
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...Strategic Management Patricia Murtagh The University of Sunderland © 2014 The University of Sunderland First published January 2014, revised February 2014 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without permission of the copyright owner. While every effort has been made to ensure that references to websites are correct at time of going to press, the world wide web is a constantly changing environment and the University of Sunderland cannot accept any responsibility for any changes to addresses. The University of Sunderland acknowledges product, service and company names referred to in this publication, many of which are trade names, service marks, trademarks or registered trademarks. All materials internally quality assessed by the University of Sunderland and reviewed by academics external to the University. Instructional design and publishing project management by Wordhouse Ltd, Reading, UK Copyright © 2014 University of Sunderland ii Contents vi Introduction Unit 1 1 2 5 7 Concepts, models and theories 20 Introduction 2.1 A comparison of concepts, models and theories relating to competitive advantage 2.2 An evaluation of concepts, models and theories relating to strategic choice Case Study: Ciba Vision 2.3 Concepts, models and theories relating to strategic evaluation Case Study: The University of Exeter...
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...1.0 INTRODUCTION What is Strategic Human Resource Management (SHRM)? According to the Chartered Institute of Personnel and Development (2015), strategic human resource management (strategic HRM, or SHRM) is an approach to managing human resources that supports long-term business goals and outcomes with a strategic framework. The approach emphases on longer-term people issues, matching resources to future needs as well as macro-concerns about structure, quality, culture, values and commitment. It is necessarily dependent on the evolving nature of work itself. As mentioned by Stone (2013), because human resource management (HRM) seeks to strategically integrate the interests of an organisation and its employees, it is much more than a set of activities relating to the coordination of an organisation’s human resources. HRM is a major contributor to the success of an enterprise because it is in a key position ‘to affect customers, business results and ultimately shareholder value’. Stated by Gratton (2000), ‘The new sources of sustainable competitive advantage available to organisations have people at the centre – their creativity and talent, their inspirations and hopes, their dreams and excitement. The companies that flourish in this decade will do so because they are able to provide meaning and purpose, a context and frame that encourages individual potential to flourish and grow’. Stone (2013) mentioned that HRM is either part of the problem or part of the solution in...
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