Objective:
Business is an attached and entrenched part of the society. In addition to its economic role in society, business also has several other roles and accountabilities towards society. Many reputed multinational companies doing business and interacting with the society as well. The objective of the study is to highlight the current status of CSR practice of MNCs in Bangladesh and activities of GrameenPhone is used as example.
Methodology:
The empirical findings of MNCs’ management of CSR in routine stakeholder relations, with employees, consumers, environment and communities are presented. The case study design was adopted as a research strategy to study the CSR phenomenon in Bangladesh because GrameenPhone Ltd. is the
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▪ Employee motivation - a KPMG survey of 1600 of the world 's largest companies across 16 industrialized countries, including Australia, examined why they are committed to corporate responsibility and what influenced the content of the reports. By the survey almost half of the world 's largest companies believe employee motivation is a key driver when it comes to corporate social responsibility.
▪ Laws and regulation - independent mediators, particularly the government, ensuring that corporations are prevented from harming the broader social good, including people and the environment. Governments should set the agenda for social responsibility by the way of laws and regulation that will allow a business to conduct them responsibly.
▪ Crises and their consequences- Often it takes a crisis to precipitate attention to CSR. One of the most active stands against environmental management is the CERES Principles that resulted after the Exxon Valdez incident in Alaska in 1989. Other examples include the lead poisoning paint used by toy giant Mattel, which required a recall of millions of toys globally and caused the company to initiate new risk management.
▪ Stakeholder priorities- Increasingly, corporations are motivated to become more socially responsible because their key stakeholders expect them to understand and address
February 18, 1949, Gary Leon Ridgway was born in Salt Lake City, Utah. He was raised in SeaTac, Washington. His homelife as a boy was very troubled. More than once did he witness brutal arguments between his parents. He had trouble wetting the bed, and when his mom would find it, she would belittle him in front of his whole family. He contracted anger and sexual attraction toward her. When Ridgway was 16, he led a boy into the woods and stabbed him in the liver. The boy survived, but someone witnessed Gary as he was walking away laughing say “I’ve always wondered what it was like to kill.” Gary wasn’t the brightest kid in while he was growing up, so after high school he was sent to Vietnam. While overseas, he was married to his first
Also, a study by the Society of Human Resource Management (SRHM) states that Corporate Social Responsibility has positive effects on productivity, recruitment of top employees, loyalty and retention, and most importantly, the employee morale. The famous CEO of General Electric, Jack Welch, once said, “You build the best team, you win.” A study by Net Impact, which created a “What Workers Want” report, said that 45% of employees would have a 15% salary cut for work that has a social or environmental impact. Another 51% of workers say that helping to "make a better world" and make a "contribution to society" is essential to their ideal work . This goes on to show that in today’s world, by following CSR, companies have an easier time in recruiting a talented workforce. A great example in this case would be the Sara Lee Corporation that created a Global Sustainability Development Working Team in an attempt to improve employee satisfaction through Corporate Social Responsibility.
Corporate social responsibility has been one the key business buzz words of the 21st century. Consumers' discontent with the corporation has forced it to try and rectify its negative image by associating its name with good deeds. Social responsibility has become one of the corporation's most pressing issues, each company striving to outdo the next with its philanthropic image. People feel that the corporation has done great harm to both the environment and to society and that with all of its wealth and power, it should be leading the fight to save the Earth, to combat poverty and illness and etc. "Corporations are now expected to deliver the good, not just the goods; to pursue
CSR is become more important in this society. Business activities will influence the sustainable development and played a centre role in the sustainable development. Business should focus on the world trend and being responsible because it’s important to lead a business to success as “competitive conditions
Throughout the course of time, love poems have shaped around common themes and techniques which we in today's society are very fond of and have seen multiple times in not only poetry but in movies, photos, and novels. For example, the works Tales of Genji, Tales of Ise, and Sarashina Diary, are written by different poets but share multiple techniques and themes. One theme, which can be generalized as, the "flow of time."
This paper gives a research study on the corporate social responsibility in which Orang Switzerland mobile company applies its terms according to CSR. OCH implements the CSR on the behalf of stakeholders .OCH defines the CSR in the context of ethical, legal, commercial and public interest. CSR is dependent upon three pillars according to the company requirement, performance indicators, CSR projects and business principles. Business principles are categorized in three parts , first one is major category of principal then sub category of principal then region of focus. Under these three categories company will take the opinion of stakeholders, work with honesty, provide the protected work place, provide better goods and services, encourage the relation with employs and also achieve its goals. Also the company will support the country by funding in critical condition and for education.
One notable example of an organization that adopts significant CSR initiatives from a developed country is Starbucks which is an American multinational corporation. On the other hand, a considerable example of a company with significant CSR from a developing country is China Mobile which is still in its global expansion stage. The China mobile company is a Chinese multinational corporation. The two different companies offer an effective platform for comparing the CSR understanding and initiatives of different organizations from the developed world and from developing countries. What makes the examples even more effective is the fact that the two companies are different stages of development in the global business environment. This makes it
Corporate social responsibility (CSR) is an increasingly important issue for all businesses around the world. CSR covers economic, legal, ethical, and philanthropic responsibilities of firms. Explain the factors that may motivate an MNE to adopt CSR in its international business strategy...
But the one and only question that every business leader ask is what CSR is and how this concept will be beneficial for the companies. Somehow CSR is still relatively blurred and a contested concept.
Although there is substantial variation in the environment and the corporate approaches that reflected in the literature, interest in the field that shows the poised to stimulates the further research and to provide both researchers and CSR practitioner some valuable direction for reflection and action.
While all companies focus on the needs of their shareholders, those who own the company, the truly extraordinary companies also focus on the needs and wants of the stakeholders. The stakeholders are the associates of the firm that have a stake in or claim on some aspect of the actions, policies and objectives of the business. These people often include customers, employees, local community, suppliers, investors, stockholders and government. Companies that operate with a stakeholder orientation recognize that business and society are interpenetrating systems, in that each affects and is affected by the other. There has been a evolution of social responsibility of today compared to 50 or 60 years ago. In the 1940s corporations had economic dominance and total authority of top management. During the 50s and 60s there were few formal governance procedures restraining management actions. Organizational charity expanded and laws were passed that required safe tools and space for the employees while also fostering diversity in the workplace. The 1970s brought large scale competition mergers and acquisitions and occasionally bankruptcies. The 1980s was a period of simplification small companies more power distributed throughout the company an onus on profitability and sadly more scandals. From the scandals of the past 25 years we have learned a great deal about transparency, liquidity, long-term
It is to a wide extent voluntarily engrained into the corporate strategy. Moreover, it covers the most important areas of CSR – environment and society. How the strategy is really implemented into practice will be discussed in the following parts. However, it shall be mentioned that the strategy “ONE” still makes the impression of a traditional growth orientated strategy. In the appendix three and four two additional figures regarding stakeholder vs. company goals and the CSR key areas can be
Employees demand their company to be socially responsible: When the company takes into consideration the social and environmental issues, this could lead to its credibility and gain the loyalty of the employee. Which also, it can lead to decrease the turnover of employees within the organization.
Corporate social responsibility (CSR) is the pledge a business makes where it promises to behave ethically and contribute to economic development while improving the quality of life of workforce and their family as well as the local community (Pride, Hughes, Kapoor 42). This practice helps to form or improve the positive image of the company. Businesses that follow the socially responsible model consider the impact of the company’s actions on society. This also includes promoting and supporting local, national and global causes, which is a part of CSR called corporate philanthropy, where businesses donate some of their profits or resources to charities (Taylor). Companies that show social responsibility this way must be devoted to doing so on a regular basis, because if don’t follow through with it, your organization may be viewed by the public as dishonest. Many critics of CSR believe that this model reduces the main goal of business, restricts the free market goal of maximizing profit, and also limits the ability to compete in a global marketplace (Pride, Hughes, Kapoor 47). Though critics may believe they are right, CSR gives companies a chance to address social issues caused by business’ and other factors and allows them to be a part
First and foremost, the death penalty is defined as the punishment of execution, administered to someone who has committed a terrible crime (Capital Punishment 1). This is also known as capital punishment, which is known for disregarding the human rights. Although many countries continue to enforce the death penalty, some countries think it should not be practiced. According to the United States, the death penalty continues to be a charged and controversial political and legal issue(Capital Punishment 1). In addition, the death penalty also focuses on if the death penalty is fair not unfair; let alone, if the criminal will receive the right justice and punishment for the crime he has brought onto himself. The death penalty is another option when rehabilitation and improvement are not available.