Management Assignment 1 Table of contents Page 1. Introduction 2 2. Advantages of Strategic Planning 2.1. Financial Advantage 2 3. Disadvantage of Strategic Planning 3.1 Distortions and Deceptions 3 4. Friedman view of business social responsibility 3 5. Having a look at Sasol’s Social contribution 5 6. References 6 1. Introduction There are a number of advantages and disadvantages of strategic management
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MNW301G Corporate citizenship SU 1 – “Imagine” SU 2 – Course overview The four outcomes for this course are relatively simple and easy to grasp‚ they are: 1. Analyze the context of corporate citizenship (CONTEXT) 2. Develop a business case for corporate citizenship (WHY?) 3. Critically consider the conceptualization‚ implementation and evaluation of corporate citizenship programs (HOW?) 4. Analyze the profile of personal responsible leadership in corporate citizenship (LEADERSHIP)
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Rethinking the Social Responsibility of Business By Thomas Malthus (See note at the bottom of the page) Thirty-five years ago‚ Milton Friedman wrote a famous article for The New York Times Magazine whose title aptly summed up its main point: "The Social Responsibility of Business Is to Increase Its Profits." Friedman had no patience for capitalists who claimed that "business is not concerned ’merely’ with profit but also with promoting desirable ’social’ ends; that business has a ’social conscience’
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Question: Consider the question from the body of the chapter‚ “Does Ethics Mean Good Business?” Would Milton Friedman and John Mackey agree with what the text has to say on the matter? How would each of them answer the question? Answer: Both Friedman and Mackey don’t agree with what the text had to say‚ each has his own opinion on how working under ethics can make a company profitable. In Friedman’s article “The Social Responsibility of a Business is to Increase its Profits”‚ he stated that for
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Corporate social responsibility (CSR) is the framework proposed by Carroll (1991) to provide managers with a way to evaluate their duties to the myriad groups with interests in their organizations. These groups are defined as stakeholders and include owners‚ customers‚ employees‚ the community‚ competitors‚ suppliers‚ social activist groups‚ the public and potentially others. According to Carroll (1991)‚ the framework of CSR can be divided into four parts encompassing “the entire spectrum of business
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Since the origins in the middle of last century (Spector‚ 2008 cited in Carroll and Shabana‚ 2010: 86)‚ Corporate Social Responsibility (CSR) has been becoming an increasingly influencing factor in corporate governance. KPMG (2008 cited in Du et al.‚ 2010: 13) indicates that the proportion of the 250 hugest enterprises in the world who annually release CSR reports has grown up from 50% in 2005 to 80% in 2008. Porter and Kramer (2006: 80) declare that CSR is more likely to be advantages such as ‘opportunity
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comics’ readers (citation.) Despite this‚ comics had been targeted towards boys and men. It was the stories of men being celebrated in comics‚ with women cast as damsels and eye candy. When Pep’s Archie hit the scene in 1941 with Betty then Veronica‚ girls discovered a narrative they could see themselves in. Archie and its copycats didn’t offer stellar female representation with their boy-crazy‚ gender conforming
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social responsibility is “an ethical ideology or theory that an entity‚ be it an organization or individual has an obligation to act to benefit society at large” (the freedictionary.com). Three notable management authorities: Patrick Murphy‚ Milton Friedman‚ and Peter Drucker‚ have different opinions on what business ethics and social responsibility are and what is should mean to the business world. According to Patrick Murphy (2009) responsibility is a key principle of business ethics which implies
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the Stakeholder Theory. The final chapter four contains the conclusion of my paper. 2 Explanation of the Basic Concepts 2.1 Stockholder Theory The stockholder theory‚ which is also known as “Friedman Doctrine” and is a model most often associated with the Noble Prize winning economic theorist Milton Friedman‚ defines a manager as an agent for the stockholders (Bowie and Werhane‚ 2005‚ p 21). A “stockholder” is a person‚ who has a monetary investment in a business or company. Many business schools
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References: Carroll‚ A. B. & Shabana‚ K. M. (2010). The Business Case for Corporate Social Responsibility: A Review of Concepts‚ Research and Practice Banerjee‚ S. B. (2008). Corporate Social Responsibility: The Good‚ the Bad and the Ugly. SAGE Publications. 51-79. Retrieved
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