Corporate Social Responsibility ( Csr ) - 1726 Words

Throughout my research of what Corporate Social Responsibility (CSR) is, I noticed that many organizations have framed their own definition, considering a common ground between them. My own definition of CSR is the voluntary continuous commitment and responsibility on the effects that an organization has on both internal (employees) and external stakeholders (communities, environment) that go beyond legal or ethical standard required to operate, as well creating a synergistic relationship between the two parties promoting win-win relationship based on trust and the positive perception that reflects the organization to the community. (Mirvis, 2012, p. 110) Beside the challenges of operating in a globalize world of integrated markets, were†¦show more content†¦A Net Impact survey stated that 53% of workers want were they can have an impact because it was important to their happiness, another important fact that the survey mentioned is that 35% would like to work for a company committed to CSR, 45% for a job that makes a social or environmental impact, and that 58% would like to work with values like their own (as cited in Meister, 2012). Looking at the survey results stated above, should organization focus first in their internal CSR strategy and used CSR as â€Å"a tool† (Mirvis, 2012), to engage, retain, and attract skilled employees while creating â€Å"a dynamic, vital, living entity, fed by the interaction among its myriad stakeholders,† (Vallaster, Lindgreen Maon, 2012). Google background information Google is the most used search engine worldwide. Sergey Brin and Larry Page are its founders, both are idealists at heart and have maintained a management policy based on firm principles and clear rules. Do no evil it is one of the basic principles that Google teaches to its relatively few employees. Google does not use uniforms, each employee may informally dress every day and their hours are quite flexible (D Onfro Smith, 2015). But why would a company keep their employees in this way. Larry Page and Sergey Brin explains that it is very important to have happy employee at all times as this may unleash the

Reintroduce Children’s ASPIRIN Free Essays

Given the respective scenarios and the projections described in the exhibits for each option, evaluate and choose the alternative that best optimizes Bayer’s prevention and children’s business. Explain. Upon reading the two options that have come up, the best alternative would be choosing the second option: Reintroduce Children’s ASPIRIN worldwide as a prevention product and rename it under the brand ASPIRIN 100 ®. We will write a custom essay sample on Reintroduce Children’s ASPIRIN or any similar topic only for you Order Now Figure 2 (See below) summarized that this option appears to have more benefits than the first option given. Although venturing into this option would require repackaging, relabeling, and reindicating the brand and it might accelerate the cannibalization of Pharma’s sales, reintroducing the product could attract new users from competitive brands. As Joachim Zander analyzed the two scenarios under when they reintroduce their product: â€Å"Under the first scenario, we essentially create attention for ourselves and the market reacts. As a result, Pharma’s high-end product, CardioASPIRIN ® , loses 10% of its sales due to our cheaper alternative. However, we also appropriate incremental sales of 10% from the competition. Beyond that, by keeping the product on the market, though in a new form, we are able to keep 20% of the children’s ASPIRIN customers. Under the second scenario, I envision that the market does the opposite and reacts very little to our product change. Thus, Pharma doesn’t lose any volume, and Consumer Care is unable to gain any incremental volume from the competition. Either way, we still keep 20% of the children’s ASPIRIN customers. † Comparing Exhibit 6 with Exhibits 7A and 7B, the forecast losses in Option 1 will be substantially greater given the Middle and Worst Case Scenarios than what is featured in losses in Option 2. Although in the Best Case Scenario in Option 1 could appear to be advantageous, assuming that scenario to happen would be faulty. Also, as emphasized in Exhibit 5, although the sales of children’s aspirin is declining, its margin against the Prevention CardioASPIRIN ® is still significantly higher. Keeping their seasoned and most valued customers who give them more profits will be the optimal approach. Thus, the win-win solution would be Option 2 because either way 20 percent of the children’s aspirin customers will be maintained. This business decision will be less damaging to the company, either best or worse case happens. 2. ) Do you agree with quantitative assumptions used to develop the forecasts? Why or Why not? Yes, I agree. In order to come up with the best decision, managers must make a number of educated assumptions about future trends and events and modify those assumptions once new information becomes available. Quantitative forecasts are typically based on historical data or tests and which involve complex statistical computations, which the Bayer Aspirin Case presented to represent the financial outcomes of the two options. Although quantitative forecasting is not foolproof, it is a valuable tool that enable managers to fill in the unknown variables that inevitably crop up in the planning process. For instance, the case study obtained the trend from 1994 to 1998 to formulate the outcomes of the trends in 1999 to 2003. The results they obtained indicated that prevention customers had been rapidly replacing children customers over the five years from 1994 through 1998. Forecast indicated by 2003 that approximately 27% of Children’s ASPIRIN sales would be for children and 73% for prevention customers, effectively reversing the 80% / 20% split, respectively, from 1994. Upon seeing the trends, Zander and Merker had the ability to conclude that Children’s ASPIRIN was naturally evolving into a low-cost, low-dosage prevention product. And it looked as if the combination of the rapid growth in the prevention market and the decline of the children’s market would be the death of the Children’s ASPIRIN brand. Of course, these are just assumptions and these could be wrong but at least the present trends could spell a lot with what will happen in the future. How to cite Reintroduce Children’s ASPIRIN, Papers

ASIC Acknowledges Conflicts in Vertical Integration

Question: Explain how it ties into the strategic management concept discussed. Answer: The article, ASIC acknowledges conflicts in vertical integration is an interesting read. In this article, author explained that there has been an increase in the amount of vertical integration for organizations. Today, firms want to have an integrated supply chain so that they can have a better control over suppliers, vendors and customers. Author argued that it might not be easy for organizations to implement vertical integration due to high cost of operations. For example, Walmart is one of the best examples that have used effective compensation policies to implement vertical integration. Walmart has used vertical integration to take cost advantage, as the company wants to procure the goods and raw materials at minimum possible costs. The compensation policies and the HR strategies of the firm have a direct impact on the vertical integration of the companies. It has been observed that the firms overall compensation structure would face a hit if the vertical integration of the firm were not successful. Therefore, it is important that the management of the company should develop efficient strategies for vertical integration and this strategy should be based on the overall compensation policy of the organization. The vertical integration and the compensation policy or compensation structure are two important aspects of strategic management. The strategic management approach suggests that the organizations should develop the strategies and polices based on their internal capabilities and external environment. The compensation structure and policies are internal to the organization the vertical integration also includes focus on external environment as vertical integration includes the integration with other firms and organizations in the supply chain. Therefore, it can be said that the concept of vertical integration and compensation policies is an important aspect of strategic management. References Taylor M. (2014). ASIC acknowledges conflicts in vertical integration. Money Management. Retrieved from: https://www.moneymanagement.com.au/news/financial-planning/asic-acknowledges-conflicts-vertical-integration