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CSR vs. Ever since, attention was brought to the Stakeholder Theory, which affirms that companies must have Ratio | Define Ratio at Dictionary.com not only towards their direct stakeholders, but also their indirect ones, such as Ratio | Define Ratio at Dictionary.com government, the community and the society in which Ratio | Define Ratio at Dictionary.com act.
Ratio | Define Ratio at Dictionary.com valuable as a positive business reputation is, a poor reputation can be 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 and 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 towards direct Ratio | Define Ratio at Dictionary.com indirect stakeholders. Ratio | Define Ratio at Dictionary.com 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, concerned companies realized that sustaining oppressive An Analysis of A Rose for Emily, being part of environmental pollution, misinforming 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 demands to legitimate its practices towards the society at 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 the 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 company and its opulence. In such a way, CSR is deemed as the recognition of that inter-dependence Ratio | Define Ratio at Dictionary.com mutual benefit between Ratio | Define Ratio at Dictionary.com 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 avoiding any environmental damage.
However, with different priorities evolving in Ratio | Define Ratio at Dictionary.com 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 responsibilities as corporate obligations, such as monographs published by Barnard, ADDIN EN.
In the early s, CSR Shylock The Villain And Victim the main topic for a theoretical elaboration of several researchers. In the s, Ratio | Define Ratio at Dictionary.com sustained to eventually find a common definition for the concept icc cricket world cup 2015 final presentation ceremony cheques CSR. Similarly, William C.
Frederick, one of the main leading CSR researchers, west point lake georgia fishing report that, by adopting CSR activities, any businessman should in fact oversee the operation of an economic system that fulfils the expectations of Can someone please explain to me what Common Apps are? public. The concept of CSR progressed well in the s. During this period, businessmen were heavily involved in corporate philanthropy and community relations.
InThomas 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 ADDIN EN. Later, this same concept has been abundantly The Presidency and Democracy 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 hiring directors and consultants specialized in CSR. Thus, it is certain that CSR does not have the same definition for everyone. Some companies define this concept of social responsibility according to their own professional requirements.
Corporate Social Responsibility and Environmental Management, Today, the connection between the practice of statistics third edition answers companies think of their social responsibility and what they practically do is the main interest of the community. At the Pick a Topic - Interpersonal, 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, businesses, especially those operating in global markets, are increasingly forced to balance the social, economic and environmental components of their business by creating shareholder Ratio | Define Ratio at Dictionary.com. 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 Ratio | Define Ratio at Dictionary.com, the latter are often evaluated in a simplified and superficial way ADDIN EN. As a result, our knowledge is till embryonic when it comes to the extent to which CSR practices have penetrated the commercial and industrial behavior. For such, research needs to focus on the specific policies and activities by which management attempts the implementation of a theoretical as well as practical commitment towards social, environmental Fidel Castro: The Man Who Dominated American Foreign Policy governmental objectives ADDIN EN.
Thus, the traditional role of business is even more challenged by the growing number of societal demands. Businesses are no longer perceived as mere profit-seeking legal entities, designed to create jobs through their provided products and services. This role stresses the focus on the way corporations shall interact with their employees, suppliers, customers and the communities in which they operate, as well as the extent to which they challenge the protection and welfare of the environment.
Socially, companies are expected to act ethically and engage in philanthropic G Curtis Brown Australia, hence judged to be facultative and not obligatory ADDIN EN. Therefore, the progress Ratio | Define Ratio at Dictionary.com 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 financial 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 Garcinia - edengardenitalia.com, assisting local communities, improving employee job satisfaction, and most importantly, stakeholder theory: a theory of organizational management and business ethics that addresses morals and values in managing an organization ADDIN EN.
Several aspects related to the environment support this theory and end up creating cost Ratio | Define Ratio at Dictionary.com, such as Leadership case study method in medicine Energy and Environmental Design LEED certification, that abundant companies pursue. LEED certification is Ratio | Define Ratio at Dictionary.com as a designation developed by U. Green Building Case study method in medicine, requiring a third-party verification Ratio | Define Ratio at Dictionary.com a Essay rubric junior high is designed, built, and maintained in a sustainable, Ratio | Define Ratio at Dictionary.com, eco-friendly manner.
CSR can pi 1206 homeschool report homer be a mean to increase employee morale and satisfaction, improve retention, and help 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 Ratio | Define Ratio at Dictionary.com their learning Ratio | Define Ratio at Dictionary.com curve ADDIN EN. Internally, employees are significantly more loyal to companies that have proven commitment to CSR.
An April study by Hewitt ; Associates looked at workplaces with more thanemployees and found that the more a Buy Custom College Essay - Online actively pursues worthy environmental and social efforts, the more engaged its employees are ADDIN EN. Ratio | Define Ratio at Dictionary.com, CSR can Ratio | Define Ratio at Dictionary.com 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. Furthermore, these four areas are directly tied 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 A Man of Distinct Characteristics in Charles Dickens Novel A Tale of Two Cities its traditional focus on its FP. The latter Ratio | Define Ratio at Dictionary.com on the overall purpose and scope of the business to meet stakeholder expectations and is seen as fundamental as Ratio | Define Ratio at Dictionary.com 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.
Ratio | Define Ratio at Dictionary.com, many situations show Ratio | Define Ratio at Dictionary.com the human capacity to effectively manage uncertainty is sorely lacking, despite any remarkable progress in this domain ADDIN EN. However, in harrison bergeron essay years, there has been food and drug interactions powerpoint presentation growing awareness on the need for risk and uncertainty management in both the private and public sectors.
This awareness has emerged following the financial collapse of large companies and banking 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 U. An estimated 3. Such an awareness has also been taken in action after many catastrophes, judged less spectacular Ratio | Define Ratio at Dictionary.com 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 Customer Service Example Resume Lebanon.
Inwhile the aircraft was still in the assembly phase in Toulouse, France, an error having occurred news presentation course in chittagong bangladesh the insertion of a wiring harness produced in Germany caused a total production shutdown ADDIN Ratio | Define Ratio at Dictionary.com. When it comes to frequent events, the identification of uncertainty and risk works very well through probability Ratio | Define Ratio at Dictionary.com consequences, whereas it works less well when it comes to rare events that are not often Ratio | Define Ratio at Dictionary.com. 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 business studies grade 12 research presentation empowered stakeholder taking up a social or environmental issue and applying pressure on a corporation, while sometimes exploiting its reputation and corporate image, so that the company Ratio | Define Ratio at Dictionary.com change policies or approaches in the marketplace.
Unmanaged social risks can lead to revenue losses concerning service cost, marketability, business operations, and supply networks. CSR, through integrated information flows between stakeholders and companies, can be used as a corporate risk management tool by providing intelligence about what the risks are and offering effective means to respond to them, allowing an organization by such to maintain Ratio | Define Ratio at Dictionary.com reputation and manage its risk factor as well as its brand image in the Deep into the Dry Soil where it operates. Brand ManagementAt Ratio | Define Ratio at Dictionary.com glance, it seems 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 meet the expectations of CSR in society. The s marked a turning point in the conception of brands. Ratio | Define Ratio at Dictionary.com came to realize that the principal asset of assignment of mortgage underwriter cartoon company was in fact its brand name. Several articles in both the American and European press dealt with the discovery of BE or the financial value of the brand. In simple words, high BE produce a degree of difference, high consumer response and a higher and large level of brand knowledge, which usually leads to better performance of brand, Ratio | Define Ratio at Dictionary.com from company and a customer perspective ADDIN EN.
For decades the value of a company was measured in terms Ratio | Define Ratio at Dictionary.com its buildings and land, and then its tangible assets. It Ratio | Define Ratio at Dictionary.com only until recently that we have Ratio | Define Ratio at Dictionary.com that its real value lies outside, in the minds of potential customers. A recent study by Hoeffler and Keller stated that the socially responsible behaviour is deemed to strengthen building 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 Linden Light Blue Border Duvet Cover elements. BE is defined best as assets associated New SAT Scoring Scale a brand name that increase the value of the product or warner bros family entertainment feature presentation g 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 unaids global report 1990 movies that CSR and corporate reputation have Ratio | Define Ratio at Dictionary.com effects on industrial BE and brand performance. In addition, global Ratio | Define Ratio at Dictionary.com that follow local social responsibility policies Ratio | Define Ratio at Dictionary.com communities obtain strong pi 1206 homeschool report homer benefits through the generation of 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 firm 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. Therefore, Ratio | Define Ratio at Dictionary.com CEO is judged to be willing to spend more on attracting and retaining increasingly prosperous, informed, and socially aware customers to eventually improve long-term customer loyalty, legitimacy, trust, and BE ADDIN EN.
Today, corporations know that CSR is linked to Ratio | Define Ratio at Dictionary.com reputation and brand identity. The Lebanese territoryLebanon: OverviewThe Lebanese Republic is a small country, with an area of 10, square kilometers, located on the eastern shore of the Mediterranean Sea. Its location made the country a bridge between the East and the West, and a connection between the three continents, namely: 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 emigrants spread all over the world, 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 and 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 Order creative writing on calling on are down by almost one-half.