The decision to strive for sustainability is obvious, but this process is easier said than done. Developing a sustainability strategy is difficult in itself, but the most challenging factor is the actual implementation. Marc J. Esptein, the author of Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social, Environments, and Economic Impacts, provides companies with tactical methods and approaches, as well as real life examples and personal advice in order to assist in helping companies with achieving corporate sustainability. Epstein introduces a new framework for implementing corporate sustainability. He states the by addressing the nonfinancial aspects of business, companies can improve the bottom line and earn superior returns.
The global market serves diverse customers of different nationalities and incorporates the ideas from a diverse human resource pool in the formulation of policies and directives to determine the operations of a multinational organization; this is the most promising way for MNCs such as Microsoft. An international organization should bank on diversity since the rewards it ploughs back from the international exchanges of ideas and skills are more significant and are more of an advantage than a shortcoming. The three cultural divisions of organizational cultures reflect the differential of people’s lifestyles despite all of them being human beings (Lewis, 2012). Organizations, just like human beings, organize their operations to conform to values
Rather it creates long-term consumer and employee value by taking into consideration the social, economic, and cultural environment in which the firm operates. As more companies begin to adopt these sustainable business practices, studies are being released showing how positively significant the effects are on the firms earnings due to increased profitability and cost reductions. This paper will attempt to explain the overarching concept of sustainability, the widespread adoption of sustainable business practices, the effects on profitability for these firms, and finally the controllership function in directing this new revolution. As mentioned in the preceding introduction, corporate sustainability looks further than simply the preservation of the natural environment and focuses on what some have called the “triple bottom line”. The term was coined in 1994 by John Elkington, the founder of a British consultancy agency called “SustainAbility”.
In fact, Microsoft Company’s management had done a lot in terms of formulation of domestic and international strategies to enhance profitability (Weiss, 2008). To conclude, Microsoft Company recognizes that external stakeholders are important in its success and long-term sustainability. Therefore, Microsoft’s mission and vision recognizes both customers and the society in its business. Customers determine success or failure of a company, therefore, Microsoft has engaged in the manufacture of products that meet customers’ needs, both locally and internationally. It is vital to work hand in hand with the government, creditors, shareholders, and suppliers to ensure sustainability and long-term benefits (Weiss, 2008).
The incentives for all of the responsibilities mainly correspond to an increase in the bottom line as well as a healthy public image. Therefore, corporations can choose which one of these responsibilities they value the most and apply that to their business strategy while increasing both the bottom line and public image. Due to their power, corporations have the responsibility to operate in the best interest of their stakeholders, the responsibility to protect the environment they use for earning a profit, the responsibility of acting as a global citizen by contributing to the efforts to stop climate change and lastly, . By respecting all of these responsibilities businesses can provide a boost to their bottom line as well as act as a responsible citizen would do in order to protect our environment.
Lean manufacturing is a collection of tactical methods that helps in eliminating non-value added activities (waste) for delivering quality products with least cost at a greater efficiency. Lean implementation is rapidly expanding throughout manufacturing and service sectors as a core business strategy to develop a competitive advantage. The focus of lean manufacturing is on driving rapid, continual improvement in cost, quality, service, and delivery, significant environmental benefits typically "ride the coattails" or occur incidentally as a result of these production-focused efforts. Lean production techniques create a culture of employee empowerment, and waste minimization, continuous improvement, which is very compatible with organizational characteristics encouraged under environmental management systems (EMS) and pollution prevention (P2). Other related business strategies such as "Six Sigma" can have the same effect.
The corporation feels as though CSR has a direct and positive impact on the people in the communities and even in our backyards, and around the world. However, the company believes that the communities in turn and their continuing engagement with Microsoft services contributes the to the company’s business achievements and profits. Further, the communities are amongst the most important stakeholder groups in the Microsoft’s corporate responsibility strategy throughout the country. Microsoft, is also concerned about the rights of humans which are the main thrusts in Microsoft corporate social responsibility programs (Smithson, 2017). Stakeholders are important for their direct effect on Microsoft Corporation’s organizational performance through human resource competency and productivity (Smithson,
1.0 Introduction The aim of this report is to apply the theoretical and practical ideas of corporate reputation and corporate social responsibility presented in this course to the organizations in the same industry. Global business today not only survives on corporate reputation but as well as social responsibility. Reputation is quite important for the smooth operation of the business especially in today’s internet age where information travels in a few seconds and impact is very fast. Consumers in the present day are more concerned with whether companies are good citizens to the community and for one to do business today it is required for companies to be good global citizens concerned with social responsibility besides profits. As companies
Corporate governance has become an issue of worldwide importance. Corporations have a role to play in promoting economic development and social progress therefore they must have the best members on the board to assure good standards. Board members and directors should possess certain characteristics that will allow them to make good decisions for the firm. The appropriate characteristics should be possessed by each c... ... middle of paper ... ...lling away from the company. This new Nasdaq rule is suppose to make investors and the public aware of what is happening with the company weather its conflict of interest or other corporate abuse.
The positive impact on the different methods of technology business’ communication has offered corporations more flexibility and efficiency as well as speed and complexity. The primary goal in technology on businesses is to offer the right instruments that can be used to guide corporations through the stages of growth. Many business supervisors continue to be impacted by high technology; one of the essential ways that businesses provide services is to share and collaborate to add worth ... ... middle of paper ... ...ecommerce, and communicate electronically across the country. There will always be startup costs when building a company in a technical era, but the benefits of technology is valuable. It provides a way to better serve your clients, support business relationships, and etcetera.