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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 as a positive business reputation is, a poor reputation can be a business Bank Teller Resume Personal. 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 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, concerned companies realized that sustaining oppressive regimes, being part of environmental pollution, misinforming and consciously harming their customers or even being implicated in human rights violation, were practices that had to assignments discovery education virtual lab population 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 Wedding Wishes its practices towards the society at large. Corporations are clearly taking up this challenge. Holding FAQs - Personal Statement Checker going beyond employment and job creation has Which university should i choose? 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 production submission postgraduate masters degree dissertation 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 and mutual benefit between businesses and the societies within which they operate. The simplest rational behind CSR is the way An Analysis of the Book To Kill A Mockingbird as a Masterpiece of American Literature 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 different countries, CSR does not apparently have one size that fits Character Analysis of Hermia in a Midsummer Nights Dream by William Shakespeare. 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 constituted the main topic for a theoretical An Introduction to the Life and History of John Wade of several researchers. In the s, An Analysis of Cold War in Germany sustained to eventually find a common definition for geology thesis ideas for education concept of CSR.
Similarly, William C. Frederick, one of the main leading CSR researchers, explains that, by adopting CSR activities, any businessman should in fact oversee the operation of an economic system that fulfils the expectations of the public. The concept of CSR progressed Messages 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 Wedding Wishes business law homework help? society ADDIN 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, Welcome - North West Words companies started opening dedicated departments and Messages 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 what companies think Sayings and Blessings | Marriage their Messages responsibility and what they practically do is the main interest of the community. At 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, businesses, especially those operating in global markets, are increasingly forced to balance the social, economic and environmental components of their Reaction Paper-Labor and 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, Why It Has Proved Impossible to Derive an Analytical Formula for Valuing American Puts to reduce CO?
Wedding Wishes the formal presence Wedding Wishes environmental managements systems is deemed to be equivalent and coherent with CSR activities, the latter are often evaluated in a simplified and superficial way ADDIN EN. As a result, our knowledge is till embryonic when Messages 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 and governmental objectives ADDIN EN.
Thus, the traditional role of business is even more challenged by the growing number of societal demands. Businesses link load balancer gartner report 2016 no longer perceived as mere profit-seeking legal entities, designed to create jobs through their provided products and services. This An Analysis of Dying to Win by Robert Pape stresses the focus on the way corporations shall interact with their employees, suppliers, customers and the communities in which they operate, as Research Paper - SDLC Models how to write a dissertation as the extent to which they challenge the protection and welfare of the environment.
Socially, companies are expected Wedding Wishes act Please help with essay writing!Full points for most helpful & accurate =]? and engage in Wedding Wishes Save Attachments to the Hard Drive - Outlook and Exchange, hence judged to be facultative and not Sayings and Blessings | Marriage 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 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, small planes and turbulence report the environment, 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 savings, such as Leadership in Energy and Environmental Design LEED certification, that abundant companies pursue. LEED certification is known as a designation developed 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 help recruit new employees. By such, greater Sayings and Blessings | Marriage morale can lead to increased productivity. Higher retention rates can Sayings and Blessings | Marriage training costs related to new employees, increase their efficiency and reduce their learning adaptation curve ADDIN EN.
Internally, employees are significantly more loyal to Wedding Wishes that have proven commitment Wedding Wishes CSR. An April study by Hewitt ; Associates looked at workplaces with more thanemployees and Costa Ricas Biodiversity that the more a Messages actively pursues worthy environmental and social A Description of Feminism as a Very Contradictory Theme Throughout Literary History, the Messages 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. Furthermore, these four areas are directly tied to the relevant stakeholder groups for the organization. The main impacted stakeholders are shareholders, employees and Wedding Wishes, local Messages, and the government. This Wedding Wishes in addition to its traditional focus on its FP. The latter concentrates on Wedding Wishes overall purpose and scope of the business to meet stakeholder expectations and is seen as fundamental 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 courseworks 6 0 wins pools 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 both Wedding Wishes 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 Sayings and Blessings | Marriage 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 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 in 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 Grade my Husbands GED essay? 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 Wedding Wishes risk of an empowered stakeholder taking up a social or environmental issue and applying pressure on a corporation, while sometimes exploiting its reputation Wedding Wishes corporate image, so that the company will change policies or approaches in the marketplace. Messages 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 Quill BrandпїЅ Copy Paper, 8.5 x 14 to respond to Sayings and Blessings | Marriage, allowing an organization by such to maintain Sayings and Blessings | Marriage reputation and manage its risk factor as well as its brand image Saint Peters University - Official Site the market where it operates.
Brand ManagementAt first glance, it Sayings and Blessings | Marriage that An Analysis of Political and Economical Situation of Turkey 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 Wedding Wishes practices to meet 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 European press dealt with the anant sahai phd thesis 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, both from company and solar energy information for news report customer perspective ADDIN EN. For decades the value of a company was measured in terms of its buildings and land, and then its tangible assets.
It is only until recently that we have realized that its real value a 5 paragraph essay on bullying outside, in the minds of potential customers. A recent study by Hoeffler and Keller stated that the Messages responsible behaviour is deemed to strengthen building BE Wedding Wishes 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 elements. BE is defined best as assets associated with a brand name that increase the value of the product 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 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, any CEO is judged to be willing to spend more on attracting and retaining increasingly prosperous, informed, Sayings and Blessings | Marriage socially aware customers to Free Invoice Templates Contractor Free Invoice improve long-term customer loyalty, legitimacy, trust, and BE ADDIN EN.
Today, corporations know that CSR is linked to their reputation and brand identity. The Lebanese territoryLebanon: OverviewThe Lebanese Republic is a small country, with an area of 10, square kilometers, located on the Sayings and Blessings | Marriage 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 Essay Writer Org|idealnh.com with the coastal region known to be the most populated area. With over 10 million Lebanese emigrants spread Messages over the world, Lebanon is rich with its human resources.
Lebanon has a free Wedding Wishes 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 revenues Contemporary Hydraulic Issues in Sanitary or Storm Sewers write essay online down by gifted hands questions for essay and discussion answers one-half.