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Business for Social Good Outstanding Awards. Watch D2 Place's Story. Lee Kum Kee. Winner of Business for Social Good Award. Five Simple Steps. Summarise your story in not more than 1, words. Submissions deadline 21 June Share your story in our visit to your company. July and August August September and October November The Entry Form. Submit your application to us by the following online entry form on or before 21 June In the application form, please summarise your business strategies and describe how you advance social and environmental conditions through your profit-making business.
However, insufficient personal data may prevent us from responding to a request or answering an enquiry. Difficulties in any of these relationships increase costs and reduce revenues over time. The ethical practices and culture of an organization are increasingly being seen as a competitive asset: employees like to work for a company they can trust; customers like to deal with an ethically reliable business; suppliers like to sell to firms with which they can have a real partnership; and communities are more likely to cooperate with organizations that deal honestly and fairly with them.
There are at least two very different approaches, which are complementary but reflecting different levels of appropriation and valorization of the internal environment of the firm — and especially in terms of organizational culture Ogrean, :.
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This we can call rapid adapting to crisis strategy, and it is essential in order to survive in a time of crisis;. They are developing in time, are determining and defining all the organizational behaviors and are the most difficult to change and to adjust to new and dynamic realities which characterize the internal and external environment of the firm. But the different opinions of individuals, as well as of institutions argue in favor of this kind of change — sustainable and substantial.
This we can call long term transforming strategy, and it is essential in order to became and remain competitive after the crisis. Now, we would like to bring some arguments in favor of the above mentioned approaches and strategies — and especially regarding the last one, which requires profound and long time transformations, and where we can also see multiple layers:.
On one hand, we have to mention what the World Economic Forum WEF has revealed into a ecent global report it has developed the last year before the traditionally meeting taking place annually in Davos ; it naturally embraced a macro to global approach, result of some very interesting researches and analyzes which were made by WEF itself a Facebook survey, taking into consideration the young people opinions regarding values into a post crisis world, for instance or by different well known and appreciated ethical and religious global leaders.
It would be a wasted opportunity for all of us if we pretended that the crisis was simply a momentary hurdle. If we want to keep society together, then a sense of community and solidarity are more important now than ever before. These efforts must include a commitment to good governance and financial transparency, a commitment to protect and educate their work forces, a commitment to protect the environment, and a commitment to strengthen the communities in which they work.
It goes without saying that an economic downturn will mean tighter budgets and fewer resources for corporate social responsibility activities. However, non-monetary community engagement, such as volunteer programs, board participation and education partnerships can make a modest corporate social responsibility budget go even further. Although we can notice from the results of these studies the pre-eminence of the opinion arguing that the correlation is positive and strong and there are a lot of more or less solid grounded arguments here , we cannot stop observing also the opposite opinion.
Wilhelm in December , the first year of massive manifestation of the actual global crisis as follows:. Travel — As air travel costs have sky rocketed over the past year, investments in videoconferencing software makes more sense than ever. Waste — Eliminating waste upfront and implementing recycling and composting alternatives helps lower waste costs and emissions. This strategy of saving money ultimately means also saving the planet and saving the people — something that the concept and practice of the triple bottom line valorize the most.
Both organizations and each party in the society try to avoid the effect of crisis by remedial actions; such as cutting costs by laying off workers, postponing investments, reducing budgets for the following year in a contraction manner, consuming less. The main one is trust. But the issue goes a step further — it is a question of ethical behavior, of ethical standards. The financial turmoil has revealed to us an unexpected degree of selfishness and greed existing in our society.
This must be changed. Not by legislation, as ethical behavior cannot be decreed by law. Instead, we must put in place an environment where such behavior is not tolerated but punished. I strongly believe that the companies to lead us out of the recession will be those which consider CSR as part of their core business strategy. They will be the companies that have developed innovative forms of cooperation with stakeholders in order to bring new products to new markets. Rebuilding trust, managing the human dimension, and seeing sustainability as an opportunity for new business are key to overcome the economic crisis.
Identifying Social Norms Makes for Better Business
There can be tensions between the need to remain competitive and survive as an enterprise while at the same time considering and minimizing the social impact of cutting costs and restructuring the business. At the enterprise level, sustainability means operating a business so as to grow and earn profit, and recognition of the economic and social aspirations of people inside and outside the organization on whom the enterprise depends, as well as the impact on the natural environment.
Under these circumstances and considering these aggregate effects, we think that the most important approach for the strategic management of the firm in these turbulent times is to be able to see and valorize opportunities which most of the competitors see as threats and avoid, on one hand, and to transform internal weaknesses into powerful strengths, on the other hand.
By doing this, it is possible for a firm to survive and even develop a unique competitive strategy of differentiation from its competitors — through CSR related practices which, paradoxically, save money and focalization in terms of market segments and clients — by avoiding inutile costs that eventually would have reflect themselves into higher prices.
Many companies did well by being bad. Creative accounting, unfair labor practices, corporate secrecy, monopolistic behaviors, externalizing costs, and shady environmental behaviors could help beef up the bottom line. We need to rethink and rebuild many of the organizations and institutions of the past around a new set of principles and behaviors. This is the model of strategic management based on business ethics and social corporate responsibility in the context of globalization we propose by this chapter of the book.
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Our readership spans scientists, professors, researchers, librarians, and students, as well as business professionals. Downloaded: Globalization between threats global corruption and opportunities sustainable development for businesses Globalization reaches today more or less, positively or negatively all the aspects and domains of the humankind and life. There are at least two major theories that we think they are crucial within this discussion framework in order to be able to correctly determine the competitive strategy of the firm some academics consider the two theories are competing to each other, while others consider the two theories are complementary : a.
Business ethics and corporate social responsibility — answers to the challenges of global competitiveness and sustainability Business ethics. Now, we would like to bring some arguments in favor of the above mentioned approaches and strategies — and especially regarding the last one, which requires profound and long time transformations, and where we can also see multiple layers: a.
We need a new economic system- one that is more sustainable than our old system, which has failed. Our society is interlocked with the rest of the world through business and environmental interests, and we have a common interest to cooperate. You are not required to agree to this in order to buy products or services from Xlibris. You certify that you are over the age of eighteen Standard message and data rates may apply.