Strategy is defined as "the art of devising or employing plans or stratagems toward a goal" Merriam-Webster online, Within a broad business context, strategy is an integrated set of plans for achieving long-term organizational goals.
The ISO environmental management standard The United Nations Global Compact requires companies to communicate on their progress  or to produce a Communication on Progress, COPand to describe the company's implementation of the Compact's ten universal principles.
Many companies produce externally audited annual reports that cover Sustainable Development and CSR issues "Triple Bottom Line Reports"but the reports vary widely in format, style, and evaluation methodology even within the same industry.
Critics dismiss these reports as lip service, citing examples such as Enron 's yearly "Corporate Responsibility Annual Report" and tobacco companies' social reports.
In South Africa, as of Juneall companies listed on the Johannesburg Stock Exchange JSE were required to produce an integrated report in place of an annual financial report and sustainability report. This requirement was implemented in the absence of formal or legal standards.
One of the reputable institutions that capital markets turn to for credible sustainability reports is the Carbon Disclosure Projector CDP. Due to an increased awareness of the need for CSR, many industries have their own verification resources. The United Nations also provides frameworks not only for verification, but for reporting of human rights violations in corporate supply chains.
Ethics training[ edit ] The rise of ethics training inside corporations, some of it required by government regulation, has helped CSR to spread. The aim of such training is to help employees make ethical decisions when the answers are unclear.
Organizations see increased employee loyalty and pride in the organization. This can include raising money for local charities, providing volunteers, sponsoring local events, employing local workers, supporting local economic growth, engaging in fair trade practices, etc.
Companies that ethically market to consumers are Term paper on corporate strategy pdf a higher value on their customers and respecting them as people who are ends in themselves.
They do not try to manipulate or falsely advertise to potential consumers. This is important for companies that want to be viewed as ethical.
Social license to operate[ edit ] Social License to Operate can be determined as a contractual grounds for the legitimacy of activities and projects company is involved in. Unless a company earns and maintains that license social license holders may intend to block project developments; employees may leave the company for a company that is a better corporate citizen: Based on the Requisite Organization research of Dr.
Elliott Jaques to achieve this goal a company needs to: Identify the business strategy and business objectives Identify the social license holders employees of a company, labour unions, local and national governments, communities, activist groups, etc.
Develop the Social License Development Strategy to remove the negative factors and ensure positive intention of all the social license holders to support all the business objectives of the company. Perform ongoing monitoring and quantitative measurement of changes in the Social License to Operate of the company Potential business benefits[ edit ] A large body of literature exhorts business to adopt non-financial measures of success e.
The business case for CSR  within a company employs one or more of these arguments: Triple bottom line[ edit ] "People, planet and profit", also known as the triple bottom line, form one way to evaluate CSR.
Profit is the economic value created by the organization after deducting the cost of all inputs, including the cost of the capital unlike accounting definitions of profit. Another criticism is about the absence of a standard auditing procedure.
Potential recruits often consider a firm's CSR policy. CSR can also help improve the perception of a company among its staff, particularly when staff can become involved through payroll givingfundraising activities or community volunteering.
CSR has been credited with encouraging customer orientation among customer-facing employees. Several executives suggest that employees are their most valuable asset and that the ability to retain them leads to organization success.
Socially responsible activities promote fairness, which in turn generate lower employee turnover. On the other hand, if an irresponsible behavior is demonstrated by a firm, employees may view this behavior as negative.
Proponents argue that treating employees well with competitive pay and good benefits is seen as a socially responsible behavior and therefore reduces employee turnover.
This interest is driven particularly by the realization that a positive work environment can result in desirable outcomes such as more favorable job attitudes and increased work performance.
The authors noted that while developing and implementing a CSR strategy represents a unique opportunity to benefit the company. The survey's authors also stated that employee engagement on CSR initiatives can be a powerful recruitment and retention tool.
As a result, employees tend to discard employers with a bad reputation. Reputations that take decades to build up can be ruined in hours through corruption scandals or environmental accidents. CSR can limit these risks. As a result, this increases competition among firms since customers are aware of the company's CSR practices.
These initiatives serve as a potential differentiator because they not only add value to the company, but also to the products or services. Furthermore, firms under intense competition are able to leverage CSR to increase the impact of their distribution on the firm's performance.
Lowering the carbon footprint of a firm's distribution network or engaging in fair trade are potential differentiators to lower costs and increase profits.
In this scenario, customers can observe the company's commitment to CSR while increasing company sales. Proponents assert that Whole Foods has been able to work with its suppliers to improve animal treatment and quality of meat offered in their stores.Welcome to the AHPRA publications page.
Here you will find copies or links to our corporate documents such as annual reports, business plans, notification publications, practitioner audit report and more. 1 Concept of Corporate Strategy LESSON OUTLINE Introduction What is strategy?
Why corporate strategy? and agos, meaning ‘leader’). The term first gained currency at the end of the 18th century, and had to do with stratagems by which a general sought to deceive an enemy, with plans the general made for a campaign, and with the way the.
Microfinance initially had a limited definition - the provision of microloans to poor entrepreneurs and small businesses lacking access to bank and related services.
The two main mechanisms for the delivery of financial services to such clients were: (1) relationship-based banking for individual entrepreneurs and small businesses; and (2) group-based models, where several entrepreneurs come.
THE ART OF STRATEGIC MANAGEMENT- A KEY TO SUCCESS IN CORPORATE SECTOR Dr.
Strategic Management Sample Research Paper PDF - Download as PDF File .pdf), Text File .txt) or read online. Dynamics of Corporate Strategy By Documents Similar To Strategic Management Sample Research Paper PDF. Strategic Management Term Paper. Uploaded by. Tanvir Rahman.5/5(4). 1 ICA Working Paper 2/ Making Strategy Work: A Literature Review on the Factors influencing Strategy Implementation Yang Li 1, Sun Guohui, Martin J. Eppler2 1 Business School, Central University of Finance and Economics, Beijing, China 2 Institute of Corporate Communication, University of Lugano (USI), Lugano, Switzerland Yang li: Email: [email protected] paper is to contribute to this literature by presenting an integrative framework to distinguish and relate the concepts of business model, strategy, and tactics. Put succinctly, business model refers to the logic of the firm, the way it operates and how it.
Fareha Zafar University of Derby (UK) & This paper examines the success in corporate sector through strategic management. In recent The art of strategic management remained primarily associated with the military history.
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