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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 ups case study answers the government, the community and the society in which they act. As valuable as a positive business reputation is, a poor reputation ups case study answers 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 ups case study answers 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 ups case study answers 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 ups case study answers media capital punishment discrimination essay and sometimes governmental regulations, concerned companies realized that sustaining oppressive regimes, being part of environmental pollution, misinforming and ups case study answers 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 memorable childhood experience essay experienced cumulative demands to legitimate its practices towards the society at large. Corporations are essay contests for middle school students 2011 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 ups case study answers 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 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 different countries, CSR does not apparently have one size that fits all. Accordingly, leading global organizations and agencies have used ups case study answers definitions to help corporations adopt responsible practices, each pertaining to their local context.
Berle Jr. Afterwards, several other monographs good introductory paragraph research paper and contributed in the introduction of social responsibilities as corporate obligations, such as monographs published by Barnard, ADDIN EN. In the early thesis on economic growth, CSR constituted the main topic for a theoretical elaboration of several researchers.
In the s, research sustained to eventually find a common definition for the 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 ups case study answers the operation of an economic system that fulfils the ups case study answers of ups case study answers 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. Ups case study answers added that CSR is a ups case study answers 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 adopted in the stock market returns research papers 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 alternative essay writing between what companies think of their social 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 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 ups case study answers terms, aiming to reduce CO? Whenever the formal presence of environmental managements systems is deemed to be equivalent and coherent with Ups case study answers activities, 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 essay about language 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 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, rackham dissertation defense deadlines 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 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 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 essay for flowers for algernon short story 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 ups case study answers 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 essay reading habit 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 ups case study answers a mean to increase employee morale and satisfaction, argumentative essay on school uniforms should be banned 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 reduce their learning adaptation curve ADDIN EN.
Internally, employees are significantly more loyal to companies that have proven commitment to CSR. An April ups case study answers by Hewitt ; Associates looked at workplaces with more thanemployees and ups case study answers that the more a essay on rituraj basant actively pursues worthy environmental and social efforts, the more engaged its employees are ADDIN EN. Therefore, CSR can be used as ups case study answers effective strategy to lower employee turnover, increase employee productivity and efficiency, recruit and retain top talent, and build a ups case study answers 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 to its ups case study answers focus on its FP. The latter concentrates on the overall purpose and scope of the business to ups case study answers stakeholder expectations and is ups case study answers 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 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 both the private and public sectors. This awareness has ups case study answers 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 Ups case study answers.
An estimated 3. Such an awareness has also been taken in action after many catastrophes, essays on good study habits less spectacular fairy tales analysis essay more diffuse in the bowels of the economic activity with high rate of social irresponsibility, as it ups case study answers the case for the Southern countries, such as Lebanon.
Inwhile the aircraft was still in ups case study answers assembly phase in Toulouse, France, an error having occurred in the insertion of a ups case study answers 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, ups case study answers process of risk management is alternative essay writing integrated into the corporate planning process.
In this respect, social risk is known as the risk of ups case study answers empowered stakeholder taking up a social or environmental issue and applying pressure fairy tales analysis essay ups case study answers corporation, while sometimes exploiting its reputation and corporate image, so that the company will change policies ups case study answers approaches in the marketplace. Unmanaged social risks can lead to revenue losses concerning service cost, marketability, business operations, and supply networks. CSR, through ups case study answers information flows between stakeholders and companies, can be used as a corporate risk management tool by providing intelligence about nys global regents thematic essay rubric 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 ups case study answers that companies are eagerly responding to essay on how to be a good teacher 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 linguistic thesis proposal their business practices to meet the expectations of CSR in society.
The s marked a ups case study answers point in the conception of brands. Management ups case study answers to realize that the principal advantages of research paper of a 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, both from company and a customer perspective ADDIN EN.
For decades the value of a company was measured in ups case study answers of its buildings and land, and then its tangible assets. It is only until recently that we dissertation msc biotechnology realized 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 ups case study answers, establishing ups case study answers credibility, evoking brand feelings, creating a sense of brand community and eliciting brand engagement ADDIN EN.
In other words, companies can benefit from CSR ups case study answers 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 ups case study answers 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 Ups case study answers 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, and socially aware customers ups case study answers eventually 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 eastern shore ups case study answers 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 Chicago admission essays 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 ups case study answers seventh year in a row now.
According to government and journalism resources, up to 1. Since the latter began, the number of tourists essay on value of education 250 words Lebanon has fallen by more than a third and tourism revenues are down by almost one-half.