Corporate Governance, CSR, Organic Growth And Leadership In Lloyds Bank: Case Study

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3 Corporate governance, CSR, organic growth and leadership in Lloyds Bank
The Helping Britain Prosper Plan, by Lloyds Bank, ensure them to run business activities responsibly to provide the global impact that has the element of social, ethical and environmental implications (Lloydsbankinggroup.com, 2016). To achieve this, they are working within the financial market and try their best to maintain high standards of integrity and conduct good value (Lloyds.com, 2016). They believe as a large organisation; they have the responsibility and obligation to serve the society and the community.

Conversely, since Lloyds is envisaged as economic entities in the financial industry, they do have fiduciary responsibility made to the shareholder, which …show more content…

It was after 1980, the stakeholder theory emerge and interpret as a challenge and debates either to be injected into company operation and responsible to meet the demands of both shareholders and society (Carroll, 1999). The debates continue but after 2008 financial crisis, the stakeholder theory evolve as a core concern to every firm and it discipline are known as Corporate Social Responsibility (CSR) (Leeson, 2015).

Thus, to hold the balance between economic and social goals, a framework call Corporate Governance is created (CG)(Vieira, Jorge and Canadas, n.d.). Or other authors like Nasrullah (2008) explain their relationship, as CSR is a comprehensive version of CG 's model.

Either way, CG encourages the efficient use of resources and equally strengthens accountability for the stewardship of that resource (Vieira, Jorge and Canadas, n.d.). An effective CG characterised robust scrutiny, which provides important pressure for improving society, community or CSR in general and improve management, leading to more effective implementation of the chosen interventions, better service delivery, and, ultimately, better outcomes (IFAC, …show more content…

The implementation of Environment Steering Group that report to Corporate Responsibility Steering Group require several specific business division to devote on social responsibility elements in Lloyds bank’s Environmental Management System (Lloyds Banking Group, 2011). For example, Group Property division has responsibility for energy efficiency and Group Procurement division for recycle efficient. Even one of their Group Executive Director is a member of the Corporate Leaders Group, who leads on climate change and the environment externally (Publications.parliament.uk,

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