Finance Secretary Jesus Estanislao once compared good corporate governance as keeping one’s house in order. Most people want well-run households‚ one that keeps a lid on expenses while keeping things neat and clean and takes care of the various needs of family members. In the business setting‚ a clean house is more attractive to prospective investors. Good corporate governance promotes transparency‚ accountability and responsibility. Corporate governance is not just about ethical conduct or being
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Business Management | Corporate Social Responsibility:A brief discussion on the role of CSR as an invaluable asset to companies for the creation of financial & non-financial value‚ including the utilization thereof to reduce the impact of corruption and bribery‚ and growing economic value for both companies and society. | | | A global mind shift has occurred recently in the business sector regarding the value of reputation and how it directly impacts‚ not only the company’s profit
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IBM BOARD CORPORATE GOVERNANCE GUIDELINES 1. Board Size 10-14 directors on the Board is optimal. This approach is flexible depending on the circumstances and the qualifications of proposed candidates. 2. Number‚ Structure and Function of Committees The number‚ structure‚ and function of Board Committees are reviewed periodically by the Directors and Corporate Governance Committee. The Audit Committee‚ Executive Compensation and Management Resources Committee‚ and the Directors and Corporate
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question/s Vision Mission Objectives Corporate Values Key Influences on Strategic Purpose Description Models/tools Corporate Governance Stakeholder Expectations A. Social Responsibility and Ethics A. Shareholder Model Stakeholder Model Benefits Disadvantages Stakeholder mapping: the power/interest matrix Minimal effort Keep informed Keep satisfied Key players Corporate Social Responsibility Stances: Laissez-faire Enlightened
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Corporate Social Responsibility at Nike‚ Inc. Overview of Policies and Activities CSR Structure In its approach to social responsibility‚ Nike groups initiatives into six separate categories: reducing waste‚ cutting energy‚ slashing water use‚ rejecting toxins‚ supporting communities‚ and empowering workers.1 Each of these initiatives carries three types of goals: an aim‚ a target‚ and commitments. The aim consists of the overall vision of that segment‚ while the
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In the recent history‚ corporate social responsibility became one of the standards that companies are trying to achieve. According to Reference for business (ND)‚ corporate social responsibility (CSR) can be defined as "economic‚ legal‚ ethical‚ and discretionary expectations that society has of organizations at a given point in time". Moreover‚ there are several key principles of CSR that have importance to the stakeholders. Stakeholders can be defined as “individuals or groups how depend on the
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Corporate Social Responsibility (CSR) is defined as “situations where the firm goes beyond compliance and engages in ‘actions that appear to further some social good‚ beyond the interests of the firm and that which is required by law’.” (McWilliams‚ 2006) This cultural ideology includes less environmentally harmful manufacturing processes‚ recycling programs‚ products with environmentally-friendly technologies‚ employee empowerment regarding socially responsible practices‚ and active involvement
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How does Starbucks’ policy of corporate social responsibility impact the company’s bottom line? According to Porter and Kramer (2006)‚ “Proponents of Corporate Social Responsibility (CSR)‚ use four arguments‚ moral obligation‚ sustainability‚ license to operate‚ and reputation as justification for implementing CSR programs and practices (p.3). Moral obligation is the duty to be a good citizen and do the right (socially responsible) thing. Sustainability requires responsibility managing both environmental
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Chapter 1: Corporate Social Responsibility (CSR) • Definition o How the action and conduct of corporation affect society. Corporate have the duty to improve and protect society through the business. • Four Different Perspective o Economic Responsibility: Maximize profits. Fair pricing and quality products. Stakeholders in Corporation: Shareholders. Employee. Upper Management. Customer/Consumer. Vendors/Supplier. The key is to be able to balance and decide which
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Introduction: Corporate Social Responsibility is a management concept whereby companies integrate social and environmental concerns in their business operations and interactions with their stakeholders. CSR is generally understood as being the way through which a company achieves a balance of economic‚ environmental and social imperatives (“Triple-Bottom-Line- Approach”)‚ while at the same time addressing the expectations of shareholders and stakeholders. In this sense it is important to draw a
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