The scale and nature of the benefits of CSR for any organization depends on the nature of the organization. Some of these benefits are as follows: • Human resources: As more and more people are becoming aware and support best business practices, a CSR programme helps in recruitment and retention when there is huge demand and supply gap for talented people. Potential recruits often seek to know about a firm‘s CSR policy, ethical business practices so having a comprehensive policy can give an advantage in attracting best talent. • Risk management: Managing risk is a central part of corporate strategy for many organisations. Reputation which takes decades to build up can be ruined through corruption, scams, scandals or environmental accidents.
When a business has a poor financial performance, it is a great reminder that organisation should change as quickly as possible. A suggestion would be rebuilt the supply chain and keep the costs under control to improve the organisation financial performance. Every organisation’s likely face crisis, it including those products which are unsafe and dangerous, thus, reducing all the disruption and managers should take responsibility to the organisation. Innovation changing is from operation to marketing; it can improve products and production processes. Corporate culture is a difficult task to changes; this is because it is usually formed over several years.
Through the frameworks and issues, we concluded that while current setup would cause some budgetary discrepancies because of the lack of loyalty between the divisional controllers to the corporate controller, changing the organization structure of Martex would cause a disparity between the division manager and the divisional controller thus resulting in an anxiety in their working environment which is too costly as compared to maintaining the current setup. I. Case Context Rendell Company is experiencing some difficulties in implementing its modern control techniques due to the irking relationship between the divisional controller and the corporate controller (Mr. Bevins) resulting in an added fat to the organization’s budgets. Now, with these problems, Mr. Bevins is interested with the organizational structure of Martex if this will be the solution of the current problem. II.
Business Change In today's business world, corporations have become more complex and more unpredictable, in fact it is considered almost "healthy" that a corporation experience change and transformation. Companies need to be susceptible and ready to acknowledge the challenges that change presents with and try to overcome these for the benefit of the company as a whole. Due to the ever-changing business and social environments caused strongly by globalizations, this has meant that companies must keep themselves up-to-date, whether it is through using the latest form of technology or through the latest management fad. There are many factors involved with change and the successful management of it which can often be a difficult time for companies. One major barrier for change is resistance of people in organizations.
This is very difficult for the manufacturing companies in implementation stage. • Manufacturing the process design also faces the same challenge in the optimization of the product (ARAUJO, JOSÉ AUGUSTO DA ROCHA DE; Costa, Reinaldo Pacheco da, 2004, p. 4). • Next is the manufacturing where quality analysis will get changed and pose as a great challenge of any product to pass the quality teams norms. This will consume more time and will increase the wastage. • The spectrum is from the customer service point of view, by changing the terms and conditions for improving the customer satisfaction may end up in company facing more issues in long-run.
When changes in leadership occur, there are many expenses that the business could face, including training. In order for transformational leadership to work, both leaders and employees must have the skills and experience required. The leaders should at a minimum have the transformational qualities described in the 4I model, whereas followers should know how to do everything which is delegated to them. When individuals do not entail these qualities or techniques, training will need to be undertaken, which is expensive, thus placing a further strain on the business. If training isn’t up-to-date and individuals are not at a standard required, many problems will be experienced with teamwork and the business as a whole.
Motivation or socially acquired need to fulfill personal goals is a complex concept. Organizations or firms are set out in order to achieve certain targets or goals and those goals are impossible to achieve without motivation. For managers, motivation of employees is considered as one of the most important aspect as well as being difficult to achieve. This is because there is often a misalignment between the firm’s and employee objectives. Firms may have the objective of profit maximization; it would be hard to find an employee who shared the same objective as the firm all the time.
Operational Barriers to Success Starting a business and thriving in that industry in today’s society can be arduous but rewarding simultaneously. There are many obstacles and attributes that can hinder a business from being successful. Companies in every industry have experienced challenges that they have had to overcome to consistently contend with top competitors. An organization can identify barriers early on to be able to adapt and overcome the challenges. What are barriers that organizations face?
These changes in societal expectations and thus company purpose we’ve seen in the business community over time often blurs the line of what it means to be socially responsible, how far a company should go to achieve this and just how much it should cost. By definition, corporate social responsibility means that a “corporation should act in a way that enhances society and its inhabitants and be held accountable for any of its actions that affect people, their communities, and their environment.” This definition indicates a clear commitment to the people of society and implies that harm to the people should be immediately acknowledged and corrected. With any problem, this may come at considerable cost to a company. This commitment comes with the understanding that businesses will forgo profits if their actions negatively impact society in order to correct their mistakes or alternatively if positive social action can be taken they are expected to do the same where profits are concerned, within reason. JPMorgan Chase is an American multinational banking and financial services holding company.
Personal problems may also cause distortions and lead to development of errors. Any employee working for a certain corporation should distinguish between corporate and personal problems (Center for Error Management 2004). One of the most common problems is financial constraints that cause employees to lose focus as they try to find ways of generating extra income. In such instances, the employees become stressed up and this increases the possibility of errors. Combining personal problems with w... ... middle of paper ... ... P 2004, Workers Physical Surrounding: Impact Bottom Line Accounting, viewed 17 August 2011, < http://accounting.smartpros.com/x36327.xml > Center for Error Management 2004, Avoiding Human Error - Creating the Right Environment, viewed 17 August 2011, < http://manageerror.com/n_asq.htm > Daft, R. L 2007, Management, Cengage Learning, New York, NY.