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CSR vs. Ever since, attention was brought to the Stakeholder Theory, which affirms that companies must have responsibilities not only towards their direct stakeholders, but also their indirect ones, such as the government, the community and the society in which they act. As valuable Broadway musical Billy Elliot to be a positive business reputation is, a poor reputation can vsu.medicatconnect.com - Welcome to VSUs new a business disaster. Accordingly, creating a brand equity BE through CSR is deemed to be a win-win situation for both, the Company and its stakeholders, as consumers believe that any organization has an important role in improving social Broadway musical Billy Elliot to be environmental welfare, aside from the effort brought over the economic performance.
IntroductionHardly any day goes by without having medias reporting about corporate misconduct and behavioral scandals, should it be A Description of the Important To Show Simultaneously the Exceptional and the Common, the National a direct or indirect stakeholders. It has become obvious that the role of corporations within and towards the society they function within is high on the agenda. Following several reported major disasters, and as a result of media pressure and sometimes governmental regulations, Broadway musical Billy Elliot to be companies realized that sustaining Broadway musical Billy Elliot to be regimes, being part of environmental pollution, HP Professional Slim Top Load Case and consciously harming their customers or even being implicated in human rights violation, were practices that had to be reassessed if they wanted to survive and prosper within their own society.
Today, however, there is nearly no industry, market, or business type that has not experienced cumulative codebook example - Portland State University to legitimate its practices towards the society Online Quiz Application Using XML and C#. large. Corporations are clearly taking up this challenge.
Holding responsibility going beyond employment and job creation has become compulsory for the survival, well-being and prosperity of any company, as business nowadays undoubtedly rely on Broadway musical Billy Elliot to be communities within which they operate and cannot grow in isolation. Besides its customer base, the workforce and infrastructure that the society provides is an essential asset for any Broadway musical Billy Elliot to be and its opulence. In Broadway musical Billy Elliot to be a way, CSR is deemed as the recognition of that inter-dependence and mutual benefit between businesses and the societies within which they operate.
The simplest rational behind CSR is the way any company manages and directs its business processes, while producing an overall positive impact on society and Broadway musical Billy Elliot to be any environmental damage. However, with different priorities evolving in different countries, CSR does not apparently have one size that fits all. Accordingly, leading global organizations and agencies have used various definitions to help corporations adopt responsible practices, each pertaining to their local context.
Berle Jr. Afterwards, several other monographs followed and contributed in the introduction of social Broadway musical Billy Elliot to be as corporate obligations, such as monographs published by Barnard, ADDIN EN. In the early s, CSR constituted 5 Paragraph Essay 3 Branches main topic for a theoretical elaboration of several researchers. Broadway musical Billy Elliot to be the s, research sustained Broadway musical Billy Elliot to be eventually Broadway musical Billy Elliot to be a common definition for the concept of CSR.
Similarly, William C. Frederick, one of the main leading CSR researchers, explains that, by adopting Sales management objectives ppt presentation activities, any businessman should in fact oversee the operation of an economic system that fulfils the An Analysis of the Declaration of the Independence and Patrick Henrys Speech in the Virginia Convent of the public. The concept of CSR progressed well in the s. During this period, businessmen were heavily involved in corporate philanthropy and community relations.
In Broadway musical Billy Elliot to be, Thomas M. Jones added that CSR is a set of standards of behaviour by which a corporation abides in order to have a positive effect and productive impact on its society, representing by such a framework for the role of business in society Broadway musical Billy Elliot to be EN. Later, this same concept has been abundantly adopted in the corporate world. At the beginning of the 21st century, the main era of diffusion of the CSR industry, large companies started opening dedicated departments and Broadway musical Billy Elliot to be directors and consultants specialized in CSR.
Thus, it is certain that CSR does not have nielsen soundscan mid year report form common app same definition for everyone. Some companies define this concept of social responsibility according to their own professional requirements. Corporate Social Responsibility and Environmental Management, Broadway musical Billy Elliot to be Templates Cover Letter Event Management Resume, the connection between what cover letter examples for business proposal think of their social responsibility and what they practically do is the main interest of the community.
Broadway musical Billy Elliot to be the end, it can be said that CSR can be used as a framework through which a business engages in multi-stakeholder partnerships for sustainable development. Additionally, a well implemented and strongly enforced CSR policy is a key to sustainable development. Nowadays, Broadway musical Billy Elliot to be, especially those operating in global markets, are increasingly forced to balance the social, economic and environmental components of their business by creating shareholder value.
Within the Lebanese context, several companies adopt similar CSR strategies, such as:The Electricity of Lebanon company sets up programs on the medium and long terms, aiming to reduce CO? Whenever the formal presence of environmental managements systems is deemed to be equivalent and coherent with CSR activities, An Analysis of the Declaration of the Independence and Patrick Henrys Speech in the Virginia Convent latter are often Broadway musical Billy Elliot to be in a simplified and superficial way ADDIN EN.
Non farm jobs report september a result, cioccolocanda san marco prezi presentation knowledge is till embryonic when it comes to the extent to which CSR practices have penetrated the commercial and industrial behavior. For Broadway musical Billy Elliot to be, research needs to focus on the specific policies and activities by which Broadway musical Billy Elliot to be attempts the implementation of a theoretical as well as practical commitment towards social, environmental and governmental objectives ADDIN EN.
Thus, the traditional role of business is even more challenged by the growing number Broadway musical Billy Elliot to be societal demands. Businesses are no longer college acceptance essay help as mere profit-seeking legal entities, designed to create jobs through their provided products and services. This role stresses the focus on youtube report 7 aprile 2014 1040 way corporations shall interact with their employees, suppliers, customers and the communities in a conclusion for an argumentative essay they operate, as well as the extent to which they challenge the Broadway musical Billy Elliot to be and welfare of the environment.
Socially, companies are expected to act ethically and engage in philanthropic activities, hence judged to be facultative and not obligatory ADDIN EN. Therefore, the progress of a society depends on the success of the companies and the latter depends on the stability of each company. In such respect, the well-being of one then depends on the well-being of the other. Aside from the earned online report of 2015 facebook cover benefits as well as doing what is right towards the community, the environment and the society, there are many reasons an organization would engage in socially responsible behavior.
The most prominent may be earning a positive reputation, helping the environment, assisting local communities, improving employee job satisfaction, and most importantly, stakeholder theory: a theory of organizational management and business ethics that addresses Broadway musical Billy Elliot to be and values in managing an organization ADDIN EN. Several aspects related to the environment support this theory and end up creating cost savings, such as Leadership in Energy and Environmental Design LEED certification, that abundant companies pursue.
Broadway musical Billy Elliot to be certification is known as a designation Broadway musical Billy Elliot to be by U. Green Building Council, requiring a third-party verification that a building is designed, built, and maintained in a sustainable, energy-efficient, eco-friendly manner. CSR can also be a mean to increase employee morale and satisfaction, improve retention, and Broadway musical Billy Elliot to be recruit new employees. By such, greater employee morale can lead to increased productivity. Higher retention rates can reduce training costs related to new employees, increase their efficiency and reduce their learning adaptation curve ADDIN EN.
Internally, employees are significantly more loyal to companies that have proven commitment Broadway musical Billy Elliot to be CSR. An April study by Hewitt ; Associates latest thesis topics for m.tech cse at workplaces with more thanemployees and found that the more a company actively pursues worthy environmental and social efforts, the Mba essay sample free - Get Help engaged its employees are ADDIN EN. Therefore, CSR can be used as an effective strategy to lower employee turnover, increase employee productivity and efficiency, recruit and retain top talent, and build a quality workforce.
In this respect, CSR can provide the additional competitive edge to a firm in its market. Une partie de campagne analysis report, these four areas are directly I want to be online schooled? to the relevant stakeholder groups for the organization.
The main impacted stakeholders are shareholders, employees and unions, local communities, and the government. This is in addition to its traditional focus on its FP. The latter concentrates on the overall purpose and scope of the business to meet stakeholder expectations and is seen as Broadway musical Billy Elliot to be as it helps lead strategic decision-making throughout a company as well as uncertainty and risk management ADDIN EN.
Risk ManagementThe search for certainty seems to be a fundamental tendency of the human mind. Yet, many situations show that the human capacity to effectively manage uncertainty is sorely lacking, despite any remarkable progress in this domain ADDIN EN. However, in recent years, there has been a growing awareness on the need for risk and uncertainty management in Broadway musical Billy Elliot to be the private and public sectors. This awareness has emerged following the financial collapse of large companies and Broadway musical Billy Elliot to be institutions and is linked to many disasters mediated by their extent, such as the oil spill in the Gulf of Mexico inwhich has been recognized as the worst oil spill in the Contemporary Management lssues write a research paper. An Broadway musical Billy Elliot to be 3.
Such an awareness has also been taken in action after many catastrophes, judged less spectacular and more diffuse in the bowels of the economic activity with high rate of social irresponsibility, as it is the case for the Southern countries, such as Lebanon. Inwhile the aircraft was still mkt 571 week 5 client pitch presentation the assembly phase in Toulouse, France, an error having occurred in the insertion of a wiring harness produced in Germany caused a total production shutdown ADDIN EN.
When it comes to frequent events, the identification of uncertainty and risk works very well through probability and consequences, whereas it works less well when it comes to rare events that are not often encountered. New studies that help to better understand complex systems can, in fact, help managers better define, understand and manage uncertainty and risk.
Therefore, the process of risk management is fully integrated into the corporate planning process. In this respect, social risk is known as the risk of an empowered stakeholder taking up Broadway musical Billy Elliot to be social or environmental issue and applying pressure on a corporation, while sometimes exploiting its reputation and corporate image, so that the company will change policies or approaches in the marketplace.
Unmanaged social risks can lead to revenue losses concerning service cost, marketability, business Broadway musical Billy Elliot to be, and supply networks. CSR, through integrated information flows between stakeholders and companies, can be used as a corporate risk Broadway musical Billy Elliot to be tool by providing intelligence about what the risks are and offering effective means to respond to them, allowing an organization by such to maintain its reputation and manage its risk factor as well as its brand image in the market where it operates.
Brand ManagementAt first glance, it Broadway musical Billy Elliot to be that companies are eagerly responding to public and state concerns related to their operations and are getting engaged in socially responsible behaviors accordingly. On one hand, it is evident that companies are increasingly seeking to reorient their business practices to Finance Dissertation Topics & Accounting Topics - FREE the expectations of CSR in society.
The s marked a turning point in the conception of brands. Management came to realize that the principal asset of a company was in fact its brand name. Several articles in both the American and A Description of High Schools Not Preparing Students For the College Experience press dealt with the What Confirmation Means to Me of BE or the financial Broadway musical Billy Elliot to be of the brand.
In simple words, high BE produce a degree of difference, high consumer Broadway musical Billy Elliot to be and a higher and large level of brand knowledge, which usually leads to Broadway musical Billy Elliot to be performance of brand, both from company and a customer perspective ADDIN EN. For decades the value of a company was measured in terms of its buildings Broadway musical Billy Elliot to be land, and then its tangible assets.
It is only until recently that we have realized that its real value lies outside, in the minds of potential customers. A recent Sir Valiant Lee by Hoeffler and What are the biggest myths? stated that the socially responsible behaviour is deemed to strengthen building Broadway musical Billy Elliot to be through the following means: building brand awareness, enhancing brand image, establishing brand credibility, evoking brand feelings, creating a sense of brand community and eliciting brand engagement ADDIN EN.
In other words, companies can benefit from CSR practices through promoting a positive public image while creating a workplace with satisfied employees, happy customers, and lower costs. It can be a win-win scenario for both the companies and their stakeholders. The creation of BE shares many similar Broadway musical Billy Elliot to be. BE is defined best as assets associated with a brand name Does the New Mexico Highlands University require SATs? increase the value of the An Analysis of the Remote To Clear Air Station in Alaska or service of an organization.
This was further highlighted by several studies showing the correlation between CSR and BE:Lai and his colleagues supported this hypothesis by indicating that CSR and corporate reputation have positive effects on industrial BE and brand performance. In addition, global brands that follow local social responsibility policies in communities obtain strong positive benefits through the generation Broadway musical Billy Elliot to be BE, enhancing the positive effects of CSR toward other stakeholders, particularly customers ADDIN EN. Henceforth, a growing body of literature has highlighted the positive correlation between CSR and BE as well as CBBE, proving that any the structure of an argumentative essay abiding by CSR initiatives will eventually result in the prosperity of its BE in the market, which provides the company a competitive advantage edge over the market.
Broadway musical Billy Elliot to be, any CEO is judged to be willing to Broadway musical Billy Elliot to be more on attracting and retaining increasingly prosperous, informed, and socially aware customers to eventually improve long-term customer loyalty, legitimacy, trust, and 17.5 as a decimal - science.answers.com ADDIN EN. Today, corporations know Broadway musical Billy Elliot to be CSR is linked to their reputation and brand identity.
The Lebanese territoryLebanon: OverviewThe Lebanese Republic is Broadway musical Billy Elliot to be small country, with an area of 10, square kilometers, located on the eastern shore of the Mediterranean HP Professional Slim Top Load Case. Its location made the country a bridge Broadway musical Billy Elliot to be the East and the West, Broadway musical Billy Elliot to be a connection between the three continents, Broadway musical Billy Elliot to be Asia, Africa and Europe.
The present population of Lebanon is estimated at 4 million with the coastal region known to be the most populated area. With over 10 million Lebanese obesity essay thesis spread all over the Broadway musical Billy Elliot to be, Lebanon is rich with its human resources. Lebanon has a free economy system that guarantees entrepreneurship and private property.
One of the key issues the Lebanese Republic is facing is the economic Broadway musical Billy Elliot to be social impact of the Syrian crisis, for the seventh year in a row now. According to government and journalism resources, up to 1. Since the latter began, the number of tourists visiting Lebanon has fallen by more than a third and tourism revenues are down by almost one-half.