Corporate social responsibility (CSR) refers to business practices that benefit society. CSR is becoming more mainstream as companies embed sustainability into their core operations to create shared value for business and society. There are four types of CSR responsibilities - economic, legal, ethical, and discretionary. Implementing CSR best practices such as stakeholder engagement, sustainability reporting, and branding can help companies increase profits, reputation, and appeal to investors while also benefiting the environment and society. The latest CSR trends include greater transparency, investing in green technologies and employees, and acting locally. An effective CSR strategy focuses efforts in key interaction areas and finds partners that mutually benefit business and social goals.
This document discusses the importance of ethics in business. It notes that business ethics helps establish acceptable standards beyond legal compliance and helps corporations gain trust. Ethics provide moral guidance for daily decisions and actions. Unethical behavior can occur for reasons like a lack of codes of ethics, fear of reprisal, peer pressure, and slipping into worse conduct over time. The document also discusses ethics in relation to different business functions like accounting, human resources, sales and marketing, and production. It outlines the relationship between business ethics and development, noting that ethical companies have better reputations and profits. Responsibilities to stakeholders like employees, customers, and society are also reviewed. The document concludes with sections on ethics relating to environmental protection and consumer protection.
Corporate Governance and Business Ethics discusses the importance of ethics in business. It defines business ethics as applying moral principles to business decisions and relationships. Maintaining ethical practices is important for building trust with stakeholders and encouraging productivity and talent retention. Unethical conduct can arise from pressures like unrealistic objectives or competition but ethical companies consider impacts on communities, equality and sustainability. The document examines the role of ethics in corporate governance and relationships. It provides examples of companies with strong ethics like Patagonia as well as those involved in misconduct like Volkswagen. Overall it emphasizes that good governance requires upholding values through vision and conduct standards.
CSR and corporate sustainability both involve companies managing their businesses in a way that considers social and environmental impacts. CSR focuses on current social responsibility initiatives while corporate sustainability emphasizes long-term profitable growth through practices in environmental, social, and economic areas. The key differences are that CSR looks backward at past contributions and targets opinion formers, while corporate sustainability looks forward by developing sustainable strategies and considers impacts on the entire value chain.
This document discusses corporate social responsibilities (CSR). It provides several definitions and explanations of CSR. CSR is defined as a process by which companies manage their relationships with stakeholders to have a positive social impact. It involves using business strategies and processes to integrate economic, environmental and social objectives. CSR goes beyond legal obligations and involves voluntarily improving communities and society. Companies are expected to consider how their actions affect others and the environment. The document outlines the various dimensions of CSR including economic, legal, ethical, philanthropic and environmental responsibilities. It discusses the role of CSR in India including relevant laws and examples of CSR programs implemented by major Indian companies.
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
Corporate social responsibility (CSR) refers to business practices that benefit society. CSR is becoming more mainstream as companies embed sustainability into their core operations to create shared value for business and society. There are four types of CSR responsibilities - economic, legal, ethical, and discretionary. Implementing CSR best practices such as stakeholder engagement, sustainability reporting, and branding can help companies increase profits, reputation, and appeal to investors while also benefiting the environment and society. The latest CSR trends include greater transparency, investing in green technologies and employees, and acting locally. An effective CSR strategy focuses efforts in key interaction areas and finds partners that mutually benefit business and social goals.
This document discusses the importance of ethics in business. It notes that business ethics helps establish acceptable standards beyond legal compliance and helps corporations gain trust. Ethics provide moral guidance for daily decisions and actions. Unethical behavior can occur for reasons like a lack of codes of ethics, fear of reprisal, peer pressure, and slipping into worse conduct over time. The document also discusses ethics in relation to different business functions like accounting, human resources, sales and marketing, and production. It outlines the relationship between business ethics and development, noting that ethical companies have better reputations and profits. Responsibilities to stakeholders like employees, customers, and society are also reviewed. The document concludes with sections on ethics relating to environmental protection and consumer protection.
Corporate Governance and Business Ethics discusses the importance of ethics in business. It defines business ethics as applying moral principles to business decisions and relationships. Maintaining ethical practices is important for building trust with stakeholders and encouraging productivity and talent retention. Unethical conduct can arise from pressures like unrealistic objectives or competition but ethical companies consider impacts on communities, equality and sustainability. The document examines the role of ethics in corporate governance and relationships. It provides examples of companies with strong ethics like Patagonia as well as those involved in misconduct like Volkswagen. Overall it emphasizes that good governance requires upholding values through vision and conduct standards.
CSR and corporate sustainability both involve companies managing their businesses in a way that considers social and environmental impacts. CSR focuses on current social responsibility initiatives while corporate sustainability emphasizes long-term profitable growth through practices in environmental, social, and economic areas. The key differences are that CSR looks backward at past contributions and targets opinion formers, while corporate sustainability looks forward by developing sustainable strategies and considers impacts on the entire value chain.
This document discusses corporate social responsibilities (CSR). It provides several definitions and explanations of CSR. CSR is defined as a process by which companies manage their relationships with stakeholders to have a positive social impact. It involves using business strategies and processes to integrate economic, environmental and social objectives. CSR goes beyond legal obligations and involves voluntarily improving communities and society. Companies are expected to consider how their actions affect others and the environment. The document outlines the various dimensions of CSR including economic, legal, ethical, philanthropic and environmental responsibilities. It discusses the role of CSR in India including relevant laws and examples of CSR programs implemented by major Indian companies.
Business ethics is a branch of social science that deals with moral principles and values in business situations. It helps classify what is good and bad, and tells businesses to do good things and avoid harm. Business ethics provides a framework for conducting business within social, cultural, economic and legal limits. It is based on concepts like self-control, consumer protection, fair treatment, and not exploiting others. While business ethics should be voluntary, education and guidance are needed for its effective implementation.
Role of Corporate Governance in managing corporate social.pptxharmanpathak62
Corporate governance involves balancing stakeholder interests through management oversight, transparency, and compliance. It guides corporate social responsibility (CSR), which includes environmental, human rights, philanthropic, and economic initiatives intended to positively influence the world. Measuring CSR's impact is key to assessing effectiveness, identifying areas for improvement, and demonstrating value to stakeholders. Organizations should set objectives, collect and analyze metrics data, and engage stakeholders to gain insights for enhancing CSR strategies over the long term.
This document provides an overview of a dissertation report on the relevance of corporate social responsibility and business ethics across various industries. The dissertation was submitted in partial fulfillment of a Master's degree in business administration. It includes an acknowledgment, declaration, executive summary and table of contents sections. The introduction provides background on corporate social responsibility, including its definition, need and importance for businesses.
This document discusses corporate governance, accountability, and corporate social responsibility. It begins by explaining how modern governance frameworks were developed in response to stakeholder pressures. It describes directors' fiduciary duties to shareholders and stakeholders. The document also discusses threats to good governance like conflicts of interest. It emphasizes the importance of developing an ethical corporate culture through codes of conduct and CSR programs. The motivations for CSR reporting are explained, and the pyramid of CSR illustrates different levels of CSR practice from performance-driven to stakeholder-driven.
Corporate governance involves rules, principles, ethics and regulations that establish how a company is directed. It sets responsibilities for directors to act in the best interests of the company and not abuse their power. An effective ethics strategy includes clearly defining ethical standards, maintaining an ethics committee, increasing ethics awareness, measuring the company's ethical status, and ongoing maintenance of an ethical culture. Building an ethical workplace is significant but maintaining it requires a proactive, regular strategy focused on managing ethics.
Challenges Of Corporate Social ResponsibilityElijah Ezendu
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This document provides an overview of business ethics. It defines business and ethics, explaining that business ethics examines moral issues that can arise in a commercial context. The document outlines several topics in business ethics, including why studying it is important. Some benefits are improved employee commitment, investor loyalty, customer satisfaction, and profits. A framework for studying business ethics is presented, covering applying moral philosophies and stakeholder responsibilities. The relationship between ethics, society, and religion is also discussed.
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
In today's interconnected and globalized world, the concept of business ethics has emerged as a cornerstone of corporate governance and organizational culture.
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
Berkshire Hathaway made notable adjustments to its investment portfolio, shedding a portion of its substantial stake in Apple while divesting from four other common stock holdings.
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This is one of the most important chapters for the students appearing for IPCC exam.Mia Mia is one of the best listing website for IPCC Classes in Mumbai. We are also known for our systematic listing of various IPCC, CA Final and CPT CLasses in Mumbai. QLI is a class where each student is our priority. We are one of the best listing website for CA Classes in Mumbai.
This document discusses corporate social responsibility (CSR), including definitions of CSR, elements and dimensions of CSR, models of CSR, theoretical justifications for CSR, implementation frameworks, factors to consider, common mistakes, advantages and disadvantages. It provides examples of CSR initiatives by companies like Microsoft, Starbucks, and initiatives and scandals involving companies like Nike and Coca-Cola India. It also briefly discusses one CSR initiative in Pakistan by PTCL.
Corporate Governance and Business EthicsArunKumarAS10
Corporate governance involves the rules, processes, and practices by which companies are directed and controlled. A company's board of directors plays a primary role in governance. Good governance promotes transparency, accountability and ethical business practices, while bad governance can undermine a company's operations and profitability. There are several theories of governance, including agency theory which focuses on the relationship between shareholders and directors, and stakeholder theory which considers the interests of all parties impacted by a company. Countries have developed different governance models, such as the Anglo-American model which emphasizes shareholder rights and German model which involves worker representation on boards.
This document provides an overview and summary of an MTS Health Services compliance and ethics training program from July 2017. It discusses the importance of compliance programs in preventing unlawful conduct and the evolution of such programs to also promote ethical culture and behavior. Key points covered include objectives of compliance programs, incentives under the Federal Sentencing Guidelines for organizations to implement effective programs, and major players in enforcement of healthcare laws and regulations.
Corporate social responsibility (CSR) involves businesses operating responsibly by considering how their actions affect various stakeholders and society. Madventurer provides community development expeditions that allow companies to engage in CSR through employee volunteering. Volunteering is an important part of CSR as it gives employees the opportunity to directly help those in need while strengthening the positive impact of a company's donations.
Good governance refers to the principles and processes by which public organizations are governed in a participatory, transparent, and accountable manner to achieve goals. Corporate social responsibility refers to companies integrating social and environmental concerns in their operations and interactions. Business ethics applies moral codes of conduct to business management strategies and operations.
This document discusses business ethics and values. It begins by asking whether companies truly apply their ethical values and codes of conduct. It then defines business ethics as the moral principles or guidelines that govern organizational conduct. The document notes that while making money is not wrong, how a business treats individuals and other organizations is important. It argues that good business ethics should be part of every business and discusses factors like a business's responsibility in its relationships with other entities. Overall, the document examines the concept of business ethics and their role and importance in organizations.
Corporate Social Responsibility Corporate Governance.pptxAbhayKhane1
This document discusses corporate social responsibility and corporate governance. It defines corporate social responsibility as a self-regulating business model that helps companies be socially accountable. It discusses why CSR is important for large corporations and provides examples of CSR programs from Tata Group and Starbucks. It then defines corporate governance as the system for directing and controlling companies and discusses its benefits, structure, and models. It also provides examples of corporate governance issues like the Harshad Mehta stock market scam from 1992 and the PACL scheme scam from 2015 in India.
IMPACT Silver is a pure silver zinc producer with over $260 million in revenue since 2008 and a large 100% owned 210km Mexico land package - 2024 catalysts includes new 14% grade zinc Plomosas mine and 20,000m of fully funded exploration drilling.
Role of Corporate Governance in managing corporate social.pptxharmanpathak62
Corporate governance involves balancing stakeholder interests through management oversight, transparency, and compliance. It guides corporate social responsibility (CSR), which includes environmental, human rights, philanthropic, and economic initiatives intended to positively influence the world. Measuring CSR's impact is key to assessing effectiveness, identifying areas for improvement, and demonstrating value to stakeholders. Organizations should set objectives, collect and analyze metrics data, and engage stakeholders to gain insights for enhancing CSR strategies over the long term.
This document provides an overview of a dissertation report on the relevance of corporate social responsibility and business ethics across various industries. The dissertation was submitted in partial fulfillment of a Master's degree in business administration. It includes an acknowledgment, declaration, executive summary and table of contents sections. The introduction provides background on corporate social responsibility, including its definition, need and importance for businesses.
This document discusses corporate governance, accountability, and corporate social responsibility. It begins by explaining how modern governance frameworks were developed in response to stakeholder pressures. It describes directors' fiduciary duties to shareholders and stakeholders. The document also discusses threats to good governance like conflicts of interest. It emphasizes the importance of developing an ethical corporate culture through codes of conduct and CSR programs. The motivations for CSR reporting are explained, and the pyramid of CSR illustrates different levels of CSR practice from performance-driven to stakeholder-driven.
Corporate governance involves rules, principles, ethics and regulations that establish how a company is directed. It sets responsibilities for directors to act in the best interests of the company and not abuse their power. An effective ethics strategy includes clearly defining ethical standards, maintaining an ethics committee, increasing ethics awareness, measuring the company's ethical status, and ongoing maintenance of an ethical culture. Building an ethical workplace is significant but maintaining it requires a proactive, regular strategy focused on managing ethics.
Challenges Of Corporate Social ResponsibilityElijah Ezendu
Issues in development of workable corporate social responsibility strategy and resolution of awe-inspiring stance for championing effective governance.
This document provides an overview of business ethics. It defines business and ethics, explaining that business ethics examines moral issues that can arise in a commercial context. The document outlines several topics in business ethics, including why studying it is important. Some benefits are improved employee commitment, investor loyalty, customer satisfaction, and profits. A framework for studying business ethics is presented, covering applying moral philosophies and stakeholder responsibilities. The relationship between ethics, society, and religion is also discussed.
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
In today's interconnected and globalized world, the concept of business ethics has emerged as a cornerstone of corporate governance and organizational culture.
Understanding the Importance of Business Ethics.pdfTEWMAGAZINE
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This is one of the most important chapters for the students appearing for IPCC exam.Mia Mia is one of the best listing website for IPCC Classes in Mumbai. We are also known for our systematic listing of various IPCC, CA Final and CPT CLasses in Mumbai. QLI is a class where each student is our priority. We are one of the best listing website for CA Classes in Mumbai.
This document discusses corporate social responsibility (CSR), including definitions of CSR, elements and dimensions of CSR, models of CSR, theoretical justifications for CSR, implementation frameworks, factors to consider, common mistakes, advantages and disadvantages. It provides examples of CSR initiatives by companies like Microsoft, Starbucks, and initiatives and scandals involving companies like Nike and Coca-Cola India. It also briefly discusses one CSR initiative in Pakistan by PTCL.
Corporate Governance and Business EthicsArunKumarAS10
Corporate governance involves the rules, processes, and practices by which companies are directed and controlled. A company's board of directors plays a primary role in governance. Good governance promotes transparency, accountability and ethical business practices, while bad governance can undermine a company's operations and profitability. There are several theories of governance, including agency theory which focuses on the relationship between shareholders and directors, and stakeholder theory which considers the interests of all parties impacted by a company. Countries have developed different governance models, such as the Anglo-American model which emphasizes shareholder rights and German model which involves worker representation on boards.
This document provides an overview and summary of an MTS Health Services compliance and ethics training program from July 2017. It discusses the importance of compliance programs in preventing unlawful conduct and the evolution of such programs to also promote ethical culture and behavior. Key points covered include objectives of compliance programs, incentives under the Federal Sentencing Guidelines for organizations to implement effective programs, and major players in enforcement of healthcare laws and regulations.
Corporate social responsibility (CSR) involves businesses operating responsibly by considering how their actions affect various stakeholders and society. Madventurer provides community development expeditions that allow companies to engage in CSR through employee volunteering. Volunteering is an important part of CSR as it gives employees the opportunity to directly help those in need while strengthening the positive impact of a company's donations.
Good governance refers to the principles and processes by which public organizations are governed in a participatory, transparent, and accountable manner to achieve goals. Corporate social responsibility refers to companies integrating social and environmental concerns in their operations and interactions. Business ethics applies moral codes of conduct to business management strategies and operations.
This document discusses business ethics and values. It begins by asking whether companies truly apply their ethical values and codes of conduct. It then defines business ethics as the moral principles or guidelines that govern organizational conduct. The document notes that while making money is not wrong, how a business treats individuals and other organizations is important. It argues that good business ethics should be part of every business and discusses factors like a business's responsibility in its relationships with other entities. Overall, the document examines the concept of business ethics and their role and importance in organizations.
Corporate Social Responsibility Corporate Governance.pptxAbhayKhane1
This document discusses corporate social responsibility and corporate governance. It defines corporate social responsibility as a self-regulating business model that helps companies be socially accountable. It discusses why CSR is important for large corporations and provides examples of CSR programs from Tata Group and Starbucks. It then defines corporate governance as the system for directing and controlling companies and discusses its benefits, structure, and models. It also provides examples of corporate governance issues like the Harshad Mehta stock market scam from 1992 and the PACL scheme scam from 2015 in India.
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3. CORPORATE GOVERNANCE:
Corporate governance is the system by which companies
are directed and controlled. Boards of directors are
responsible for the governance of their companies.
4. REPUTATIONAL RISK:
Reputational risk is the
damage that can occur to a
business when it fails to meet
the expectations of its
stakeholders and is thus
negatively perceived. It can
affect any business, regardless
of size or industry.
5.
6. ETHICS:
Ethics is a system of moral principles. They affect how
people make decisions and lead their lives. Ethics is
concerned with what is good for individuals and society
7. a code of ethics sets forth values, ethical principles, and
ethical standards to which professionals aspire and by
which their actions can be judged
A code of ethics sets out an organization's ethical
guidelines and best practices to follow for honesty,
integrity, and professionalism.
CODES OF ETHICS:
8. IMPORTANCE OF CODE OF ETHICS:
It provides a common set of
rules or standards for all in the
profession to adhere
to. It defines best practices for
the profession. It provides a
basis to meet compliance
requirements for the profession.
It provides a legal standard for
the profession
10. Integrity.
A professional accountant should be straightforward and honest in
all professional and business relationships
Objectivity.
A professional accountant should not allow bias, conflict of
interest or undue influence of others.
Professional Competence and Due Care.
A professional accountant should act diligently and in accordance
with applicable technical and professional standards when
providing professional services.
11. CONFIDENTIALITY:
A professional accountant should respect the confidentiality of
information acquired.
PROFESSIONAL BEHAVIOUR:
A professional accountant should comply with the relevant laws
and regulations and should avoid any action that discredits the
profession
13. FOUR TYPES OF CSR
ENVIORNM
ENTAL
RESPONCIBI
LITY
ECONOMIC
RESPONCIBILITY
HUMAN
RIGHTS
RESPONSIBILITY
PHILANTHROPIC
RESPONSIBILITY
14. Environmental responsibility
initiatives aim to reduce
pollution and greenhouse
gas emissions and the
sustainable use of natural
resources.
Human rights responsibility
initiatives involve providing
fair labor practices (e.g.,
equal pay for equal work)
and fair trade practices,
and disavowing child labor.
15.
16. Corporate social responsibility is a business model
by which companies make a concerted effort to
operate in ways that enhance rather than degrade
society and the environment.
CSR helps both improve various aspects of society
as well as promote a positive brand image of
companies.
CSR POLICY
17. Business/ Corporation Benefits of CSR.
1. Stronger brand image,
recognition, and
reputation.
CSR adds value to firms by
establishing and maintaining a
good corporate reputation
and/or brand equity.
2. Increased customer
loyalty and sales.
Customers of a firm that practices
CSR feel that they are helping the
firm support good causes.
18. 3. Operational cost savings.
Investing in operational efficiencies
results in operational cost savings as
well as reduced environmental
impact
4. Retaining key and talented
employees.
Employees often stay longer and
are more committed to their firm
knowing that they are working for
a business that practices CSR.
19. 5. Easier access to funding.
• Many investors are more willing
to support a business that
practices CSR.
6. Reduced regulatory burden.
• Strong relationships with
regulatory bodies can help to
reduce a firm’s regulatory
burden.
20. EXAMPLE
OF CSR IN
PAKISTAN.
There are several other CSR activities
in Pakistan in which.
• PTCL engages actively.
• Medical services for employees,
• Blood donation drives,
• and post-retirement beneficial
schemes.
21. BENCH MARKING
•Benchmarking is a process of measuring the
performance of a company's products, services, or
processes against those of another business considered
to be the best in the industry, “best in class.” The point
of benchmarking is to identify internal opportunities
for improvement.
22. BENCH MARKING IN CSR
• it can enhance the transparency.
• Through benchmarking, companies are given a
mark for their actions and achievements, which
enables stakeholders to judge how responsible a
specific company is.
25. BENEFITS OF SUSTAINABILITY
REPORTING
1) Provide information for stakeholders.
2) Help build a reputation.
3) To represent the company in managing risk.
4) As stimulation of thought and leadership performance.
5) Develop and facilitate the implementation of a better management
system in managing environmental, economic and social impacts.
26. •Describe directly the ability and readiness of the
company to meet the wishes of shareholders.
• Build shareholder ownership.
• building consumer confidence,
•increased innovation, and
•even improvement of risk management.