Argument For Corporate Social Responsibility - 1082 Words

Arguing for Corporate Social Responsibility Introduction: The Corporate Social Responsibility (CSR) originated in 19537 with the publication of Bowen’s book Social Responsibilities of Businessmen (Carrol, 1999). Some perceived that at that time, the emphasis is placed on business people’s social conscience, rather than on the company itself. Some argue that corporate entities do not have any social responsibility except the ones that were written in agreement with government while establishing corporate entities, whereas others justify that corporate entities do have social responsibility. The roots of critics of CSR are so old that it is a challenge to the neoclassical business model itself (Valor, 2005). According to Smith (2005), there†¦show more content†¦Additionally he argues that CSR is against the nature of a free economy But, there are some evidences to counter argue to this premises. We argue that firms often engage in CSR â€Å"precisely because it enhances shareholder value† and, more specifically, that some CSR activities â€Å"create goodwill among consumers in excess of their price tag. Margolis and Walsh (2001) reviewed the studies that investigated the relationship between CSR and the corporate financial performance in past 30 years. They found that more than 50% of the studies shown that CSR performance of the company is positively related with the corporate financial performance. Competitive Disadvantage Friedman (2007) further argues that socially responsible firms will be at a competitive disadvantage due to the added expense incurred by CSR activities. Counter to this Smith (2002) with the evidences drawn from the case of Alfred Sloan’s decision proves that CSR doesn’t bring the competitive disadvantage with it. He argues that, firms that have good SCR record in public will be given better brand image and the investors will show more trust in such companies. Hence even though the companies initially lose their part of profit o CSR, they will after a period of time, attract more and more investors and broaden their consumer base which improves both the investment and gives advantage of efficiency due to large scale of operation. Farness argument: Argument For Corporate Social Responsibility - 1082 Words Arguing for Corporate Social Responsibility Introduction: The Corporate Social Responsibility (CSR) originated in 19537 with the publication of Bowen’s book Social Responsibilities of Businessmen (Carrol, 1999). Some perceived that at that time, the emphasis is placed on business people’s social conscience, rather than on the company itself. Some argue that corporate entities do not have any social responsibility except the ones that were written in agreement with government while establishing corporate entities, whereas others justify that corporate entities do have social responsibility. The roots of critics of CSR are so old that it is a challenge to the neoclassical business model itself (Valor, 2005). According to Smith (2005), there are five major arguments against corporate social responsibility. These are the problem of competing claims, competitive disadvantage, competence, fairness and legitimacy. We will discuss below the arguments made against the concept of CSR and also we will counter argue these prepositions. Is only social responsibility of business is to create shareholder wealth? First important arguments against CSR come from Friedman (2007). He argues that CSR is not in the shareholders’ interest and the idea that companies have a responsibility to act in the public interest and will profit from doing so is fundamentally flawed.. He argues that moral responsibility of the company is also to maximize the benefits for its shareholder. And spendingShow MoreRelatedArgument For Corporate Social Responsibility1082 Words   |  5 PagesArguing for Corporate Social Responsibility Introduction: The Corporate Social Responsibility (CSR) originated in 19537 with the publication of Bowen’s book Social Responsibilities of Businessmen (Carrol, 1999). Some perceived that at that time, the emphasis is placed on business people’s social conscience, rather than on the company itself. Some argue that corporate entities do not have any social responsibility except the ones that were written in agreement with government while establishing corporateRead MoreArguments for and Against Corporate Social Responsibility1004 Words   |  5 PagesWhat is corporate social responsibility? Give arguments for and against social responsibility? Ans. Social Responsibility Social responsibility can be defined as: â€Å"A business’s obligation to follow goals that are good for both organization and society in the long-term, and are not required by law.† Corporate Social Responsibility The term corporate social responsibility came in to common use in the early 1970s. It means the duty of an organization towards society in order to prove itselfRead MoreCorporate Social Responsibility and Single Strongest Argument1106 Words   |  5 PagesIdentify and explain the major factors in the social environment that create an atmosphere in which business criticism takes place and prospers. dasdasdassadasdasdadadasdadsdadasdasdassssssssssssssssssssss- ssssssssssssssssssssssssssssssssssssssssssssssssssssssssssss- ssssssssssssssssssssssscourse? Or is it still a vital reality? 4. Give an example of each of the four levels of power discussed in this chapter. Also, give an example of each of the spheres of business power. 5. Explain in yourRead MoreAflac : An Economic Argument For Strategic Corporate Social Responsibility1702 Words   |  7 Pages Aflac: An Economic argument for Strategic Corporate Social Responsibility Ruben Guardiola MNGT 5990 Corporate Responsibility and Society Prof. Brian Craven July 9, 2015 â€Æ' Introduction The company chosen for this case paper is Aflac, Inc. They are a life and health insurance company that markets supplemental insurance for individuals. Company insurance policies include cancer insurance, hospital intensive care, home healthcare, accident, and disability insurance. Products are marketed mainlyRead More: Critically Evaluate Corporate Social Responsibility as an Ethical Tool Basing Some of Your Argument on the Toyota Case Study1711 Words   |  7 PagesWhat Corporate Social Responsibility is Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as aRead MoreCorporate Social Responsibility As Corporate Citizenship1417 Words   |  6 Pagescompetitive advantage can be obtained from intertwining social, as well as, environmental considerations into business from the very beginning. Through this process, businesses can come up with the next generation of ideas, employees and markets. Therefore, corporate social responsibility is a commitment to improve public welfare through flexible business practices, along with contributions of corporate resources. Corporate social responsib ility is all about ethical values and acquiescence with legalRead MoreEssay on managerial ehics1410 Words   |  6 PagesComplete Discussion Questions 3, 4, and 5 on page 27 of Business and Society. 3. Identify and explain the major factors in the social environment that create an atmosphere in which business criticism takes place and prospers. How are the factors related to one another? Has the revolution of rising expectations run its course? Or is it still a vital reality? Affluence refers to the level of wealth, and standard of living of the society. As the standard of living is increasing every year, peopleRead MoreViews on Corporate Social Responsibility Essay1005 Words   |  5 Pages Corporate Responsibility While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, â€Å"A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste andRead MoreAssessment: Corporate Social Responsibility1308 Words   |  5 PagesA companys success is usually assessed in terms of its annual profits. However, this view does not take into account ethics and sustainability. Examine the arguments for and against CSR. Should all companies be required to incorporate CSR within their local community? Introduction Although corporate social responsibility (CSR) has become a buzz point in the American business world of today, assessment of its prerequisites indicates that the topic may be more problematic than seems at first flushRead MoreCorporate Identity, Corporate Branding And Corporate Reputations : Reconciliation And Integration1077 Words   |  5 PagesN. (2012). Corporate identity, corporate branding and corporate reputations: Reconciliation and integration. European Journal of Marketing, 46(7/8), 1048-1063. This article will be utilized to assist managers in aligning and optimizing brand and reputation, while academics will be able to use this framework for future empirical research. IT focuses on defining, reconciling and depicting corporate reputation among other constructs in a framework that assess the dimensions of corporate reputation

My Preparation for University - 1365 Words

Module 1: Preparation for university A. Describe four of your main responsibilities as a university student. 1. My first main responsibility as a university student would be to apply myself effectively throughout the course. By applying myself effectively I intend to successfully complete the course within the allocated time period. 2. Secondly, I need to make sure that I have read and download all relevant materials; relating to my subjects. Having access to all the relevant study materials; will help to be an efficient and productive student. The end goal being successful completion of my selected course. 3. The third responsibility, is to make sure that all assignments are submitted by the due date and within the parameters of the assessment criteria. To meet the assignment criteria I must refer to the individual assignment criteria outlined in the assessment block on Moodle or located in the course profile. 4. Lastly the fourth responsibility would bre to strive to be a independent learner. Page 10/11 B. Describe four of the most significant resources that you have to help you with your learning journey. As stated in the Cottrell text the four main resources can be defined in to four groups of home, self, university and other. My first significant resource from the ‘Home’ group is my partner Richard because he is very supportive of my goals. It is very important I believe to have a positive place to study at home to enable success and he has helped me toShow MoreRelatedMy Ability As An Effective Teacher1342 Words   |  6 PagesI have always questioned my ability as an effective teacher. Every lesson I teach or conjure up in the wee hours of the night requires the learner in mind. Hospitals are for patients, so schools should be for students. Yet, there is a constant gravitation towards running schools based on money and logistics. 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Case Study 3m Free Essays

string(75) " people are not likely to invest in a company they don’t believe in\." Minnesota Mining Manufacturing Company Case Study Table of contents Table of contents Page 1 Introduction to 3M Page 2 Market and products Page 2 Performance over the last 5 years Page 3 International Marketing Activities Page 4 Miscellaneous Topics Page 6 Appendix 1 Page 7 References Page 8 Introduction to 3M 3M Company, the Minnesota Mining and Manufacturing Company, was founded in 1902 by five businessmen. They wanted to make a profit out of minerals for grinding wheel abrasives, but this failed to really take off. Their real success lay in the encouragement towards innovative employees, which resulted in several exclusive products such as waterproof sandpaper and masking tape. We will write a custom essay sample on Case Study 3m or any similar topic only for you Order Now The search for new products and innovations became their core business from then on. Despite several failures in the first years 3M continued growing and coming up with new innovative products such as the now famous Scotch tape. In 1929 3M went international as well as traded their first stock and in 1949 they became listed on the New York Stock Exchange [3M Timeline]. By the 1950s it had international sales amounting to $20 million. In 1960 and 1970 it kept growing and released a line of board games which was very successful. They also produced their only traffic signal around this time, one that is still being used today. In the late 1970s the company was involved in some of the first digital audio recordings and in the 1980s it invented the Post-it notes [Haeg 2002]. The company is still growing today and now has over 130 factories employing some 67. 000 people. Its international sales increased tenfold since 1950, now amounting to a staggering $22 billion [3M Press Release 2006]. M is currently working on focusing on its core businesses and they intend to sell some of their product lines. Their current business model focuses on â€Å"the ability to not only develop unique products, but also to manufacture them efficiently and consistently around the world† [3M Timeline]. Markets and products The market position of 3M depends on which market you look at. Its consumer and office business products are sol d in more than 80 countries. Some of the worldwide-known products of 3M in this market are Scotch ®, Post-it ®, Scotch-Brite ®, Scotchgard, Filtreteâ„ ¢, Commandâ„ ¢ and Nexcareâ„ ¢. M distinguishes their products from other products by providing high quality and value for money. In the display and graphics business 3M has three core businesses which all hold the market-leadership position and are registering solid growth. The three core businesses of 3M in this market are the commercial graphics market, the transportation safety market and film market. 3M is the market leader in the health care business providing medical, dental and orthodontic products, and drug delivery and health information systems. In this market 3M is registering strong growth with the sale of branded pharmaceuticals. An example of a product in the medical market is 3M’s Petrifilm plates which are used by food processors to help provide healthy food. In the industrial and transportation market 3M is not holding a leadership position. They are showing solid growth in this market by building core businesses and by expanding into large adjacent markets. 3M believes that the oil, gas and do-it-yourself car-care are two markets that will contribute to their growth. In 2005 they acquired CUNO Inc. , a global leader in the liquid filtration market, which gave 3M the possibility to grow into a new market segment. M is also a market leader in the safety, security and protection service business. Especially due to the large demand for safety nowadays the company is doing very well in this market. They generate more than 60 percent of their sales outside the U. S. by selling occupational health and environmental safety products, security systems and building safety solutions. The company is doing well internationally and their global presence is their main competitive advantage which enables them to capitalize on the rapid growth of manufacturing in emerging economies. To meet the worldwide demand, 3M is constructing a new plant in Korea, expanding production in the U. S. and through selective acquisition. Performance over the last 5 years Looking at performance is always a hard thing to do, because it can be measured in many different ways such as stockholders value, value for the community or whether or not the company provides stable profits and growth of profit. We will try to highlight all aspects of performance but the main focus will be on the financial part of the company. Firstly, when looking at the share prices of 3M compared to the Dow Jones Index, which is the weighted value of the biggest American firms, one can see that over the last five years 3M’s share value grew by 20% while the Dow Jones Index showed a 40% growth. In other words, most other companies showed a considerably larger growth. It should be noted, though, that 3M shows to be a stable company over longer period of time, without excessive drops in share prices, which means there is little to no risk involved in investing in 3M. On top of the increased value of the shares, the stockholders received a steady dividend of 1. % on average over the last 5 years. Because of a growth in profit the payments of dividend tend to increase over time and the expectations for the future are increasing profits if only a few percentages a year. Secondly, we will compare 3M’s performance to that of its main competitors; specifically the other large conglomerates: Johnson and Johnson and Avery Dennison. When we compare the growth of revenue 3M is somewhat behind on its competitors, as Johnson and Johnson obtained a growth rate of 16%, Avery one of 13% and 3M only 7. 3% over the last 4 quarters. Remarkably then, 3M showed the greatest increase in share prices over the last five years. This shows the strength and trust in the company, because people are not likely to invest in a company they don’t believe in. You read "Case Study 3m" in category "Free Case study samples" We will now try to see what this company meant for society. It’s clear that 3M is a big employer with 76,239 employees. No big redundancies can be found in the last five years. Furthermore there are no scandals involving things such as child labor or misuse of the environment. In short, 3M is a stable employer, which does little or nothing wrong. International Marketing Activities Segmentation The 3M Company operates as a diversified technology company worldwide. By segmenting its business it increased speed and efficiency by sharing technological, manufacturing, marketing and other resources. 3M operates in the following six segments: Industrial and Transportation; Health Care; Display and Graphics; Consumer and Office; Safety, Security, and Protection Services; and Electro and Communications. Each segment has its own targeting group, which the name of each segment already pretty much reveals. Distribution As 3M originally being an American company, it is now operating throughout the whole world. In 2006, 61% of the company’s sales were international, while 39% of sales were in the U. S. But still 57% of 3M’s operations were in the U. S compared with 43% internationally. The company hopes to bring this number of operations internationally up to 55% by 2012 [Ackerman 2007]. New plants will increase capacity geographically and improve some production facilities. Plants are now being built in Korea, China, Russia, Poland, India and Turkey. Streamlining efficiencies in distribution and logistics will lower costs and reduce working capital needs [Rick 2007]. This means that operating in these markets becomes easier due to a decreasing in the channel length. Still, 3M products are sold through numerous distribution channels, which is necessary. Products are sold directly to users and through several wholesalers, distributors, retailers and dealers in wide variety of trades in many countries around the globe. 3M’s management believes the confidence of these distribution channels in 3M and its products, developed through long association with skilled marketing and sales representatives, has added considerably to 3M’s position in the marketplace and to its growth. M has 189 sales offices worldwide, with 15 in the U. S. and 174 internationally [Campbell 2005]. Product Policy When operating in advanced economies’ industries, it is important to adjust marketing strategies accordingly to the situation. 3M is offering such a wide range of products, that it is sometimes necessary to standardize these products. â€Å"With well -known products such as Scotch tape and Post-it notes, the company enjoys a broad portfolio of products that address the needs of just about every economic sector that exists in just about every geography that one can think of [Rick 2007]†. When looking at just one of the business segments of 3M, the company says they are a global leader in the Industrial and Transportation Business with products such as tapes abrasives, adhesives, filtration systems, etc. It is easy to standardize these products because these products are associated with cultural universals; that is, when consumers from different countries share similar need characteristics and therefore want essentially identical products. An important point of product policy is cost advantage. To reach this cost advantage, the firm must keep its product cost competitive by eliminating unnecessary options. Then it is desirable to offer a standardized product with a standard package of features or options included. The simplicity of these products offered by 3M is a strength regarding to standardization [Onkvisit and Shaw 2004]. Take for example Scotch Crystal Clear Tape. This product is a great example of a standardized product. Its package contains a small description in eleven different languages while still made in the USA. Essentially, the main marketing goal is to maximize profit. Pricing and Promotion strategies Many of 3M’s products are standardized, but not all. This means that their not asking a premium price for the majority of its products. On March 21, 2003 after only a 4-month development and implementation project the company launched â€Å"3M Marketing Online† in Europe. 3M was already looking for a new application that would centralize all marketing strategies between the European entity and other 3M European subsidiaries. M Marketing Online provides a powerful sales and marketing knowledge base, centralizing all information necessary, such as market research, best practices, promotions and not to forget pricelists. This application allowed 3M to significantly simplify the information distribution processes for their sales network. Having such many different brands as 3M implies many different promotion strategies. But one strategy that would cover the whole entity is choosing a name that reflects its character, brand promise and position in the market place. The 3M name fits well in 21st century global market, even though the company already exists over a hundred years. The original registered name was the Minnesota Mining and Manufacturing Company and the name ‘3M Co’ first appeared in a diamond shape in 1906 complete with company’s full name and its Duluth, Minnesota headquarters location around it. Today’s familiar internationally recognisable red 3M logo was introduced in the 1970s and is a highly prized asset. It is not just a symbol of corporate identity; it is also a trademark and brand [Wnim 2002]. Miscellaneous Topics M states on their website: â€Å"Community giving is an important part of 3M’s sustainability strategy† [3M Community]. Further research taught us that this is not a lie. 3M’s community giving is extensive; examples are philanthropy, employee volunteerism and donations, 3M cash gifts and donated products. 3M says it invests in the communities where it has facilities. Although this does not distinguish 3M from other Multinational Corporations (MNCs), who also fund projects in the regions they have facilities, what does distinguish 3M is that they are among the leaders in workplace volunteerism. Employees are stimulated to pass their knowledge on to the locals. An example is the 3M Science Encouragement Programs, where 3M scientists and engineers share skills and career inspiration with students and scholars [3M Volunteerism] As just mentioned 3M also spends a lot on community giving, the giving goes to: K-12 education, health human services, environment, higher education, arts, culture and volunteerism. Since mathematics, science and economics are fields that 3M depends on for their future it is not just charity to fund projects to increase student achievement in mathematics, science and economics [3M K12]. It is also in the interest the company as well as their higher education project. With these projects, 3M makes itself known to the students and creates goodwill among students. The one thing that is the same in all the projects is that they are focused on the people or environment in the community where 3M has a factory or facility. This varies from giving lectures to taking care for the local environment. _ _Another program that shows 3M’s involvement with the communities is their matched gift program. Every employee and retiree of 3M that makes a cash donation to a good cause will get a matching donation from 3M. This means that every dollar donated will be matched by one dollar by 3M. Each donation will be doubled by 3M with a maximum of $40,000. The main goal to all the community giving projects of 3M is that 3M wants their employees to contribute, whether this is by giving workshops and transfer their knowledge or via donation. 3M wants to contribute in the communities where they have a facility, and wants their employees and retirees to do so as well [3M Community Giving]. Appendix 1 Consumer and Office market: Display and Graphics market: *Includes $39 million of restructuring expenses Electro and Communications market: *Includes $46 million of restructuring expenses Health Care market: *Includes $673 million of net gains primarily related to the gain on the sale of a portion of the pharmaceuticals business, partially offset by restructuring and other items Industrial and Transportation Business *Includes $15 million of restructuring expenses Safety, Security and Protection Services market *Includes $10 million of restructuring expenses Source: http://www. 3m. com References Haeg, Andrew. â€Å"3M at 100 – on the right path for growth?. 10 JUNE 2002 30 MAR 2008 http://news. minnesota. publicradio. org/features/200206/03_haega_3Mhistory/. â€Å"Historical Timeline. † 3M. 3M. 31 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/our/company/information/history/timeline/2000-firsts. â€Å"Product Services. † 3M. 3M. 31 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/Products/ProdServ. http://www. 3m. com/intl/sg/markets. html â€Å"3 M Businesses. † 3M. 3M. 31 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/our/company/information/business. â€Å"Community Giving. † 3M. 3M. 1 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/global/sustainability/stakeholders/community. â€Å"3M Volunteers. † 3m. 3M. 31 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/CommunityAffairs/CommunityGiving/US/Volunteerism. † K-12 Education Giving. † 3M. 3M. 31 Mar 2008 http://solutions. 3m. com/wps/portal/3M/en_US/CommunityAffairs/CommunityGiving/US/K12/. â€Å"What’s in a Name?. † This Issue (2007) 31 Mar 2008 http://www. wnim. com/archive/issue2504/WhatsNewInMarketing-3M. htm. â€Å"3M Drives Improvements in Marketing Productivity with InStranet and How to cite Case Study 3m, Free Case study samples

Womens Suffrage Movement in The Bahamas free essay sample

What role did the Women’s Suffrage Movement Play during the â€Å"Quiet Revolution† in the Bahamas? Notable women such as Dame Doris Johnson, Mary Ingraham, Eugenia Lockhart, Mabel Walker and Georgianna Symonette has made countless triumphs toward the equal rights of all women in the Bahamas. In particular all of these women mentioned before were major persons in the Women’s Suffrage Movement in the Bahamas. This movement’s main purpose was to ensure that all women would have a right to practice the franchise. However, this is not the only thing that resulted in the hard work of the women apart of this movement. In fact, even the amount of times you could have voted and the men’s vote was affected positively through the efforts of the Women’s Suffrage Movement. Because of the Women’s Suffrage Movement’s Positive effects on the voting of all citizens’, we can clearly see their pivotal role in the â€Å"Quiet Revolution†. We will write a custom essay sample on Womens Suffrage Movement in The Bahamas or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the mid twentieth, the Bahamas was gaining strength towards independence, both indirect and direct protesting. In the elections before 1962, women, who were more than half of the adult population, did not have the right to vote. The Progressive Liberal Party Leader, Lynden Pindling, knew that the only way to majority rule was if the women of the Bahamas were given the right to vote. The entire point of the â€Å"Quiet Revolution† was to achieve majority rule and Independence, and the Women’s Suffrage Movement had everything to do with the success of not only the P. L. P., but also the Bahamas’ Progression against both gender and racial discrimination. The first official Women’s Suffrage movement meeting took place in 1957and within the next year had put together a 3000 signature petition requesting women’s right to vote be made a law. During this time, the request for the right for all Bahamian men over twenty one to vote was made as well. Here, we can see clearly the influential role of the Women’s Suffrage Movement because through this movement the appeal of all men to vote was made. Next, in 1960 Doris Johnson, a dynamic trailblazer in the Women’s Suffrage Movement, made another request in the name of the Women’s Suffrage Movement to speak to the Members of Parliament, which was denied. However, Doris Johnson was allowed to make her address in the Magistrates court. We can clearly see that the Women’s Suffrage Movement was very proactive in their pursuit toward winning the franchise. In the following years to come, with the support of the Progressive liberal Party, who realized the importance of the women’s vote in the general election, the decision law was passed allowing women to vote, effective the next general election. We can now see the strength of the Suffrage movement being heavily displayed because in a matter iof four years, they achieved their ultimate goal. However this goal did not stop the strength of women in conquering yet another battle, politics Women now were contesting for seats in Parliament starting with Doris Johnson, the first women ever in the Bahamas to contest a seat in the House of Assembly. even though her efforts were soundly dismissed she was still appointed as the president of the Senate in 1968, making her the first woman Senator and the first woman President of the Senate. Continuing in this trend, Janet Bostwick become the first female Member of Parliament in 1982 and later on in 1997, Rome Johnson becomes the first Speak er of the House. In conclusion, we can clearly see the role that the women’s suffrage movement played in the development of the Bahamas. Even though the women of the Bahamas were vocal in their request, their affect in the â€Å"Quiet Revolution† is felt entirely, effecting not only the rights of women but making the history of the Bahamas what it is today.