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Social responsibility of business topic
Rethinking the social responsibility of the business
Rethinking the social responsibility of the business
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GREEN ENTREPRENEURSHIP
Moghana Priyaa. A
Sanjana. S
II B.B.A (Shift-1)
Trust is the gem of a big firm, no matter what the situation or time is the entrepreneur must give his fullest to win the trust of the customers and help them.
Green businesses are gaining popularity as more opportunities arise for eco-entrepreneurs to invest in. In the last 20 to 30 years the world has seen a big movement of people telling us about the importance of creating an environmental conscience. Some still believe that companies worldwide are responsible to some degree of environmental problems like a myth. So green entrepreneurship is taking conscious action to address this problem. In this case, action of the day-to-day activities of companies which
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Due to the increasing growth and development of the green market, there are various opportunities for entrepreneurs around the world. Innovation and new product development are among the important ingredients of entrepreneurship and can be seen in the green marketing concept. An entrepreneur always focuses on innovative ideas and brings change in the society and market with the help of their enterprise. Safeguarding the environment is a noble work for the society and the humanity and a good entrepreneur takes care of this entire task as he is also responsible for social welfare. We can see around us, many entrepreneurs who changed the concept of businesses in their own way and provided solution for various problems in the …show more content…
Creation of the green market is a kind of an opportunity for these green entrepreneurs as it is an emerging market and not penetrated enough. These green entrepreneurs are also called enviropreneurs as they build their business which is favorable to the environment and society. The concept of green entrepreneurship is not only helping consumers in getting their green products and services, but also making people lean towards green ecosystem. Green entrepreneurship also faces challenges such as lack of substitution of the conventional products, cost controlling, redesigning, raw material and lack of R&D infrastructure etc. These challenges can be reduced in further development. On the other hand, it is also true that green entrepreneurship creates changes in the society in the form of providing a good natural
With forward movement in society, it is important to consider not just what will propel most toward success, but also what will help to sustain the environment along the way. What may have been considered appropriate decades ago, may no longer be socially acceptable due to the changes observed in both the business world and the environment (Fiske, 2010). Therefore, it is important for organizations thriving in today?s economy to consider how they may capitalize most effectively from their product or service of choice while minimizing or eliminating any damages along the way (Knoke, 2012).
06). For any leader to be successful, that leader would need to have the trust of their employees. Without that trust, the employees would not be able to believe in the leader and/or their style of leading or whether they are fair, ethically and predictable. Employees need to know that the priorities of the both the company and the leader will have the best interest of the employees. Communication is an important part of trust. Employees like to know what is happening with the company and how they may be affected. This also tells a lot about the leader, are they willing to let the staff know what is happening or are they secretive. Organizational trust is also important to the employees and leaders play a role in that as they show what they pay attention to, how they use resources, dealing with issues of a critical nature, and how they hire, promote, and employee dismissal (Joseph & Winston, 2005, p. 08). The culture of organizational trust
(SNBC) was founded by Ken Grossman and Paul Camusi in 1979, but became operational in 1980. In addition, the company has been operational for 34 years now. The paper will discuss the integration of environmental sustainability and business operations of SNBC. According to studies and research, SNBC is committed to corporate social responsibility, especially the environment and community via environmentally friendly manufacturing processes leading to a good reputation, employee retention and attraction and profitability. The management is careful with the decisions and business operations they make regarding the environment since they affect their reputation and public
...recognize development of trust within an organization is both an opportunity and ongoing challenge. Trust creates the groundwork for effective communication, employee motivation, and retention. Trusting relationships lead to synergy, interdependence, and respect.
An organization must always look within and outside of themselves to assess their internal strengths and weaknesses and realize which external factors pose a threat or an opportunity for them. These factors have direct impact on how the organization operates, allowing them to mitigate their threats and maximize their opening to create new and diverse products as the demands of the people grow and technology advances (Rothaermel, 2013). The desire to have greener options in the products people use has forced The Home Depot and Ford Motor Company to respond. However, these two companies not only enforce the environmental concerns of the people with the products they offer to the public, but also in how their plants and stores are ran under sustainable energy. This will
Employees, investors, suppliers and customers alike eventually reach a decision point in a relationship when they decide where to place their trust and with whom. Leaders are judged on what they do to win trust, and the sincerity and consistency of their effort to retain it. Leaders win trust by communicating openly and often, having a clear and committed communications policy, strategy and processes, initiating formal and informal communications programs and regularly assessing their own communications effectiveness and that of their team and their organization.
As we become better at measuring trust, we also become better at increasing trust. As we do this we turn this so-called intangible into a hard-edged, economic driver, enabling us to increase the dividends in our organizations and also our reputation. The practical relevance of this is that trust is the strongest predictor of consumer satisfaction (Rawlins, 2007). Due to its importance, trust should be measured and included as a critical indicator on the dashboard of any organization concerned about its global relationship and reputation
Engendering trust is an important factor for organizational success and the welfare of its employees; however, encouraging and maintaining trust can be difficult and demanding at times. Trust is essential to an effective team. A team lacking trust isn't really a team at all, it's just a group of people who work together. They unsuccessfully communicate with one another effectively, fail to share important information, and they often don't cooperate or work well with one another. As a result, they are not cohesive, nor do they collaborate efficiently as a group.
Today's business world is a very delicate model and can break down with the slightest of ease. One of the most important aspects of a successful business is a good, strong management team followed by a good, intertwining associate team. The two groups serve, as different operational structures yet need to coincide on a very strict level. For a business's employees to be at arms with each other can create a big problem that happens to be at the prime area of business. This area is the area of direct customer interaction. To not keep the customer happy is to douse oneself with gasoline and proceed to striking a match. This problem brings us back to the introduction of trust and professionalism among workers.
Important companies like Shell, DuPont, BP has been reorganised to generate profits from this green market of goods and services. In this sense, it may sound altruistic, "the sustainability", the logic of profitability and competition is what will determine the ability of companies of the future to meet the changing needs of consumers.
Trust is among the most frequently cited dimensions of C relationships in the literature and has been defined as “the firm’s belief that another company will perform actions that will result in positive actions for the firm, as well as not take unexpected actions that would resu...
Difficult to regain trust of existing loyal customers who expected high quality and performance when in competition with other firms in upper trade market.
The basis of this paper is to discuss three key factors that are the mortar holding the bricks of the wall of trust together. Those factors are; finding the customer’s need, meeting the customer’s need, and never lying to the customer.
There is a very solid reason for selecting green technology as compared to the other technologies available because there is a very limited amount of natural resources like coal, petroleum available to man kind and these are getting depleted at an alarming rate. Moreover, green technology is turning out to be a good business these days as the market for greener products is increasing day by day. Consumers know that green products reduce their energy bills and these are always safer and healthier products to use, explains [1].
The present environmental issues and facts have created awareness on the kind of impact that it will have on future generations. This has initiated necessity of going green and being sustainable which has created an increased demand for green services and products. This undoubtedly is of recent origin where the consumers demand green services and products. Going green is important and crucial especially for the developing economies because of its population and natural wastage. It is very crucial to create a sustainable future. This generation of consumers and manufacturers are responsible for the climate change and the rectification of this mistake can happen if we go green in possibly all sectors.