Rubina Mahsud Topic 3: Corporate Social Responsibility and Ethical Business Practices in IM context Companies can no longer ignore social responsibility and ethical behaviors. Many organizations prioritize tangible goals over other factors, especially social responsibility and ethics. However no matter internal or external stakeholders care about how their behaviors effect on society. For the corporations who look for the tangible goal without considering social responsibility and ethics in narrow
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2004). It turned out that the public citizens and the media prefer to use the Kantianism when viewing a corporate ethical issue (Iwanow and McEachem, 2005). After this Saipan sweatshop incident, the stakeholders of Gap Inc. placed huge pressure on the company management (Smith, 2004). As a result, Gap Inc. went through a thorough reflection on business ethics and corporate social responsibilities (CSR). Finally, the company made a decision to shift from the Utilitarianism approach to
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Q1 Primary stakeholders are those stakeholders who are directly affected by company’s activities, either positively or negatively. Primary stakeholders always have a close relationship with the company. For example, shareholders, employees, managers, suppliers and customers are in the primary stakeholder group. Secondary stakeholders stand for those who are indirectly affected by company’s operation or project. Secondary stakeholders always play an intermediary role but also have interest related
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Michael Porter & Mark Kramer According to Michael Porter and Mark Kramer, "Creating Shared Value" can be defined as Policies and operating practices that enhance the competitiveness of a company while simultaneously advancing the economic and social conditions in the communities in which it operates. The concept of shared value which focuses on the connections between societal and economic progress has the power to unleash the next wave of global growth. Shared value involves creating economic
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Corporate Social Responsibility Many companies utilize a formal code of conduct as a corporate social responsibility (CSR) tool to communicate or establish organizational practices (Erwin, 2011). These formal codes of conduct are also known as codes of business standards or codes of ethics, both are intended to clearly detail a commitment to CSR (Erwin, 2011). Importance of Adopting Policies of CSR Codes of business standards are basic to the organization of CSR policies which are necessary
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the countries in the region most interested in social welfare, through the provision of various public services aimed at maintaining an advanced level of social and economic stability. This has included the provision and development of infrastructure and municipal services, education and health. With the economy of United Arab Emirates galloping at an impressive pace, many corporations are turning their attention towards Corporate Social Responsibility (CSR) initiatives. This is a significant departure
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concern for the firms like shell to conduct CSR activities as they have to operate in an environment where they have to be economically viable as well as conforming to the legal laws, rights and obligations of the society. Not only the corporate social responsibility but also the stakeholder’s satisfaction can influence a great deal in the firm’s success. So, the stakeholder’s theory means a lot to the firms. Stakeholders can be internal as well as external. For applying those approaches, shell has
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(KBR) Kellogg Brown & Root, Inc. KBR is a construction company that has refineries, pipelines and chemical plants. This paper will cover the various methods of Halliburton’s planning functions of management, legal issues, ethics, and corporate social responsibility. The paper will also explain three factors that influence Halliburton’s strategic, tactical, operational, and contingency planning. Planning Functions of Management As planning is an important function of management, it allows an organization
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and retaining more knowledge, and gaining experience. Apple Inc. recently alliance with Microsoft has opened new door for the organization to explore the corporate world with its personal computers, and provided opportunities for the company to license its products and software’s. This shows “that” Apple is capable of acquiring the corporate world with its operating system, and software packages. Apple other initiative is creating brand awareness in consumers, “which increased Apple profits and
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it is obvious that the governments have met with limited success. Hence, there is a great need for the corporate world to step in and lend a helping hand in the effort. Corporate Social Responsibility (CSR) is the name given to the help given by the businesses to the governments in making this world a better place. The companies can do their share of good by first starting with ethical corporate governance. Then they can step up to launch various community service drives or camps for empowering the
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