Important IPCC chapters by CA classes in Mumbai.seomiamia
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Corporate Excellence Through Corporate Governance Nirc IcsiPavan Kumar Vijay
This presentation deals with Corporate Governance framework and principles of Corporate Governance. It further enumerates how Corporate Governance leads to corporate excellence.
current scenario of corporate social responsibility and methods to bring back values back to CSR from research paper by by Chris MacDonald & Alexei Marcoux from Business Ethics Journal Review
Important IPCC chapters by CA classes in Mumbai.seomiamia
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.
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Corporate Excellence Through Corporate Governance Nirc IcsiPavan Kumar Vijay
This presentation deals with Corporate Governance framework and principles of Corporate Governance. It further enumerates how Corporate Governance leads to corporate excellence.
current scenario of corporate social responsibility and methods to bring back values back to CSR from research paper by by Chris MacDonald & Alexei Marcoux from Business Ethics Journal Review
This is a presentation on Corporate Social Responsibility links to corporate sustainability and growth over the long term presented 5 October 2013 at the Regent Business School's international conference entitled 'Not Business as Usual'
This is a presentation on Corporate Social Responsibility links to corporate sustainability and growth over the long term presented 5 October 2013 at the Regent Business School's international conference entitled 'Not Business as Usual'
This session will introduce public private partnerships, focusing on how they are structured and risk allocation principles. Public-private partnerships are a form of risk allocation, and thus are part of a toolbox to be utilized by participants in developing a plan for moving from project concept to bankable project proposal.
o OBJECTIVE: Participants will understand basic principles of public-private partnerships and how PPPs can help improve the efficiency and sustainability of a project.
A public–private partnership (PPP) is a government service or private business venture which is funded and operated through a partnership of government and one or more private sector companies
The PPP projects are good as it do not put financial implications on union and states and creating better infrastructural facilities to the people
Public private partnerships are becoming increasing important as governments harness the expertise and flexibility of the private sector to make investments they could not otherwise afford. The long-term nature of these partnerships makes them different from conventional procurements or privatisation. Both partners, government and private business, must learn new methods to maximize the value for investors and taxpayers.
Aligning ESG with Corporate Strategy to Gain a Competitive AdvantageLuke Holland
Organizations can no longer choose to prioritize ESG. Sustainable plans are at the very center of the policies of those who wish to be competitive and profitable. However, the optimal strategy for ESG integration services differs based on the business. Furthermore, if ESG strategies are not evaluated holistically, they may clash with other operational goals. Companies are utilizing the strategy and actions of stakeholders willing to back their vision of a sustainable framework by putting the most successful practices based on brand values in place.
Challenges and Opportunities in Corporate Social Responsibility.pdfbvokal Technologies
One of the first hurdles companies face is defining what CSR means for them. The concept encompasses a wide range of issues, from environmental sustainability and ethical sourcing to labor practices and community engagement. It's crucial to identify the CSR initiatives that are most relevant to your industry and stakeholders.
Adapting to Remote Work: Strategies for Global Businesses.pdfVograce
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Aligning ESG with Corporate Strategy to Gain a Competitive Advantage - SG Ana...SG Analytics
From the sudden surge in the popularity of green finance to the pervasive impact of ESG factors on consumers and their purchasing decisions
Visit: https://us.sganalytics.com/blog/aligning-esg-with-corporate-strategy-to-gain-a-competitive-advantage/
THE UNITED NATIONS
GLOBAL COMPACT
WORKS WITH
BUSINESSES IN THE
REALMS OF HUMAN
RIGHTS, LABOUR,
ENVIRONMENT AND
ANTI-CORRUPTION TO
TRANSFORM OUR WORLD.
WE’RE SHAPING A
SUSTAINABLE FUTURE,
AND YOU NEED TO BE A
PART OF IT.
Fiscal and monetary policy evolved significantly over the recent decades. Traditional Keynesian models are being challenged by new theories, including Modern Monetary Policy and Neo-Keyesian perspectives. In the context of public sector finance and financial management challenges that were created or accelerated during the covid crisis, and in consideration of rapidly changing demographic realities in most nations, a revision of the existing system is in order if our science is to be an effective tool for evaluating and planning public policy going forward.
Supply and demand are common terms and well understood in the general economics framework. However, my decades of practical experience led me to believe that these concepts are defined too narrowly for public sector applications. I believe this because socially, as opposed to economically, defined optimal conditions are influenced by socio-cultural influences that evolve over time, making the simple economic theory inapplicable or inappropriate.
Discussion based on Mankiw slides as amended by myself. The presentation is meant as the opening introduction to GDP measurement prior to a class discussion of the strengths and weaknesses of GDP as a meaningful measure of public policy efficacy.
Slides made from "A Guide to Social Return on Investment - Principle 2: Understanding What Changes" by the Social Value UK organization. This could also go in the Economics or Investor Relations categories.
Wu's text lacks slides. I've made slides for my lectures and include Chapters 3-6 in this set. I use Libreoffice so there may be some distortion in the layouts.
I developed this for a group of new PhD students with significant practice experience in public policy. It is based on my own experience with the transition and becoming a 'pracademic'.
Developed and presented at OECD in 2009, this presentation focuses on a cluster analysis approach to developing an innovation index that goes beyond merely counting patents.
A presentation developed for & presented at the Chiang Mai University School of Public Policy 10 October 2018. The slides were developed for a 7 minute presentation designed to propose some topics for the discussion sessions that followed.
After a general introduction, the slides describe the experience of using the MIT Sloan School Fishbanks simulation to illustrate common pool resource management challenges for Thai government officials. The exercise was conducted in class with a group of 30 Thai government officials seeking their MPA degree at Chiang Mai University. The Sloan School materials were translated and the lecture was presented in both English and Thai. Two Faculty of Political Science and Public Administration professors coached the teams during the simulation. The translated materials are available on request.
DOI: 10.13140/RG.2.2.24593.74084
Strategic Thinking is critical to all aspects of planning, budgeting, and policy development and analysis in private, nonprofit, and government organizations of all sizes. This brief overview contains the 12 critical components of Strategic Thinking and comparisons with conventional ideas.
More from Chiang Mai University School of Public Policy (20)
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Business Valuation Principles for EntrepreneursBen Wann
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website – www.pmday.org
Youtube – https://www.youtube.com/startuplviv
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Improving profitability for small businessBen Wann
In this comprehensive presentation, we will explore strategies and practical tips for enhancing profitability in small businesses. Tailored to meet the unique challenges faced by small enterprises, this session covers various aspects that directly impact the bottom line. Attendees will learn how to optimize operational efficiency, manage expenses, and increase revenue through innovative marketing and customer engagement techniques.
Memorandum Of Association Constitution of Company.pptseri bangash
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A Memorandum of Association (MOA) is a legal document that outlines the fundamental principles and objectives upon which a company operates. It serves as the company's charter or constitution and defines the scope of its activities. Here's a detailed note on the MOA:
Contents of Memorandum of Association:
Name Clause: This clause states the name of the company, which should end with words like "Limited" or "Ltd." for a public limited company and "Private Limited" or "Pvt. Ltd." for a private limited company.
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Registered Office Clause: It specifies the location where the company's registered office is situated. This office is where all official communications and notices are sent.
Objective Clause: This clause delineates the main objectives for which the company is formed. It's important to define these objectives clearly, as the company cannot undertake activities beyond those mentioned in this clause.
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Liability Clause: It outlines the extent of liability of the company's members. In the case of companies limited by shares, the liability of members is limited to the amount unpaid on their shares. For companies limited by guarantee, members' liability is limited to the amount they undertake to contribute if the company is wound up.
https://seribangash.com/promotors-is-person-conceived-formation-company/
Capital Clause: This clause specifies the authorized capital of the company, i.e., the maximum amount of share capital the company is authorized to issue. It also mentions the division of this capital into shares and their respective nominal value.
Association Clause: It simply states that the subscribers wish to form a company and agree to become members of it, in accordance with the terms of the MOA.
Importance of Memorandum of Association:
Legal Requirement: The MOA is a legal requirement for the formation of a company. It must be filed with the Registrar of Companies during the incorporation process.
Constitutional Document: It serves as the company's constitutional document, defining its scope, powers, and limitations.
Protection of Members: It protects the interests of the company's members by clearly defining the objectives and limiting their liability.
External Communication: It provides clarity to external parties, such as investors, creditors, and regulatory authorities, regarding the company's objectives and powers.
https://seribangash.com/difference-public-and-private-company-law/
Binding Authority: The company and its members are bound by the provisions of the MOA. Any action taken beyond its scope may be considered ultra vires (beyond the powers) of the company and therefore void.
Amendment of MOA:
While the MOA lays down the company's fundamental principles, it is not entirely immutable. It can be amended, but only under specific circumstances and in compliance with legal procedures. Amendments typically require shareholder
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Corporate Social Responsibility Webinar for Medinah Institute
1. Madinah Institute for Leadership &
Entrepreneurship Webinar Series
Corporate Social Responsibility
Practice & Implementation
William P. Kittredge, Ph.D.
President
Cervelet Management & Strategy Consulting
www.cerveletconsulting.com
www.cerveletconsulting.com
3. 3
CSR Creates Sustainable Development
Sustainable development is a form of economic growth
that recognises the importance of environmental and
social objectives in long-term company financial
performance and survival
Contrast neoclassical economic theory & CSR critics
Sustainability leads to the institutionalisation of Corporate
Social Responsibility & Sustainability (CSR&S)
3www.cerveletconsulting.com
4. 4
CSR & S: Who Pays; Who Benefits?
Old assumption – companies with CSR under perform
Research suggests – organisations adopting CSR enjoy
higher returns and corporate growth & sustainability
"Corporate social responsibility is a hard-edged business
decision. Not because it is a nice thing to do or because
people are forcing us to do it... because it is good for our
business" - Niall Fitzgerald Former CEO, Unilever
4
5. 5
Corporate Social Responsibility (CSR)
Involves diverse partners
Requires stakeholder identification & engagement
Private sector generates responsible profits
Society reaps the benefits of sustainable development.
5
6. 6
Evolution of CSR
Compliance
− Establishment of standards
− Certifications
Triple Bottom Line (TBL) Reporting
− “making a business case” for CSR (see references)
− Social, environmental, & financial impacts
Responsible Competitiveness
Market forces engaged to reward socially responsible
companies
6
7. 7
Sustainability & CSR
7
Arts &
Culture
Employee
Voluntarism
EducationHealth
Disaster
Relief
Community /
Livelihood
Development
CSR
Initiatives by
Group Companies
Environment
CSR
8. 8
Corporate Social Responsibility (CSR)
Implementation in line with organisational vision,
mission, and goals – strategic plan implementation
CSR - a comprehensive framework developed and
adopted by the organisation
No generic framework fits all situations
Role of public regulatory bodies & NGO
Transparency and credibility of CSR claims
8
9. 9
Ensuring Real Sustainability
Build a business case for CSR - not merely a normative
case
Identify and distinguish sustainability and green-washing
Commitment to transparency (e.g. TBL reporting)
Commitment to multi-dimensional measurement &
reporting
9
13. 13
How to respond?
Do something, make a start
Set and realize realistic CSR goals
− Company resources
− Business lines
Acknowledge that this is an iterative process, not an end
point.
Companies, and those who own and manage them,
have more power than the average citizen; therefore
more responsibility to act appropriately
13
14. 14
How to respond?
Select a CSR model that is relevant to your business, and
its social, political, and cultural environment.
Remember you are changing corporate culture
Secure active commitment of senior management.
Make use of the 'workbooks' and 'toolkits' that are
available – step-by-step guides streamline the process,
making results easier to achieve.
Train key personnel – use 'train the trainers' model
Don't be afraid
14
15. 15
Responsible Business Framework
15
It is up to the individual company, perhaps
working with their consultants, to determine:
Which to address
In what order of priority
Appropriate metrics and measures for their
business and context
16. 16
Responsible Business Framework
(RBI see references)
Perception
The company reflects on its own values and
understands how these values relate to its
business goals.
All businesses exist to make a profit; the
company's values determine ethical reference
points for business decisions.
17. 17
Responsible Business Framework
Preparation
Implementing values as policies and
procedures, training company personnel,
creating reporting & communication systems
for stakeholders.
Difficult process, especially for informally
organised small businesses. However, once
formally promulgated, easier to integrate into
day-to-day management.
18. 18
Responsible Business Framework
Practice
Senior management must lead by example,
establish rewards and sanctions, ensure
policies embodied in daily business practice.
The company's culture reflects management's
practice; you lead from the front. If the leaders do
not follow the rules, the employees will follow their
poor example rather than the written policies.
19. 19
Responsible Business Framework
Performance
Sustained responsible behaviour requires
constant reinforcement to integrate CSR
principles into daily practice; cultural change
All company personnel share a clear set of
values integrated into the company's business
model and reflected in day-to-day decision-
making.
20. 20
Core Values
Business values, mission, & goals are the
foundation of CSR
Company claims of good behaviour, when not
supported by evidence, may actually harm
business prospects over the long term.
“It takes 20 years to build a reputation and five
minutes to ruin it.” - Warren Buffett
21. 21
Core Values
A values statement may offer the best picture of
the organisation’s philosophical grounding.
The company and all of its employees must be
seen to enact those values at all times.
Demonstrate an understanding of ethical
priorities, the intent act responsibly, and the
willingness to act consistent with these
principles
22. 22
Core Values
It has become commonplace to see value
statements in company reports & the websites
of many businesses of all sizes.
If few people within the company adhere to the
stated values or treat them merely a public
relations tool, the price of hypocrisy can be
high.
23. 23
Core Values
Conflicts have destroyed businesses, even
large international companies.
Arthur Anderson case study
Taj case study
24. 24
Core Values
A responsible company knows that principles
mean nothing without implementation.
The commitment to implementation is in the
company policies and incentives provided to
employees.
Fiscal Integrity
Managerial Integrity
Product Integrity
25. 25
Fiscal Integrity
The primary responsibility of a business is to
remain profitable. You must be viable to be
responsible. Your fiduciary responsibilities
cannot be neglected.
Yet a company can pursue financial success
without imposing unnecessary costs on the
environment or society
26. 26
Fiscal Integrity
Clear, transparent accounting, consistent with
international standards
Regular professional audits
Appropriate fiscal controls
'Don't lie to yourself'
TBL implementation where and when feasible
Appropriate social investments, e.g. Saudi Basic Industries
Corporation (Sabic) "Clean up the Gulf Day"
27. 27
Managerial Integrity
Company governance and management is the
face of a company.
It is the stakeholders' window into the
organisation’s commitment to ethical and
responsible behaviour
28. 28
Managerial Integrity
A company's decisions are deeply entwined
with its ethical values.
These values are reflected in its public image,
influencing how much business it can
generate in the long-term
When a company's declared values contradict
its practices, catastrophic consequences may
follow.
29. 29
Managerial Integrity
Business leaders or managers engaged in
guiding and decision-making assume
responsibility for their actions.
Accountability is most commonly manifested in
the annual financial statement.
When signed by the CEO, it implies personal
responsibility from company decision-makers
and their readiness to face the consequences
of their business decisions.
30. 30
Managerial Integrity
A responsible company needs a responsible
management.
Guarantee responsible governance and
management through policies of transparency
and accountability.
31. 31
Product Integrity
A company's most visible impact is through its
product or service.
Hoover, Thermos, and Frigidaire are examples
of product names that became synonymous
with trusted companies.
Highly successfully companies provide products
or services that become symbols of
responsible business in the market they serve.
32. 32
Product Integrity
A responsible company makes strong, ethical
commitments and delivers on what it
promises.
Implement transparent systems that allow
product quality, production methods, and
supply chains activities to be viewed by
stakeholders.
33. 33
Stakeholder Engagement
Stakeholder – a person or organisation that is
effected by the company's actions or activities,
directly or indirectly
Key stakeholders are those for whom the
company's actions or activities hold high salience
Shareholder – a person or organisation with a
financial interest or ownership interest in the
company
34. 34
Stakeholder Engagement
Regularly consulting key stakeholders & seeking
their active involvement drives the success of a
company's strategic approach through:
Product feedback
Perception of company
Desirable social investments
Consultation may take the form of surveys, focus
groups, market research activities, or any scale
appropriate activity.
35. 35
Stakeholder Engagement
The need for this type of activity grows from what
might be termed 'non-governmental social auditing'.
In essence, this is the promulgation of regulatory
requirements by trans-national entities that are
'enforced' via social media campaigns and other
informal means
These informal requirements may be formally
adopted by national or international regulatory
bodies.
36. 36
Stakeholder Engagement
A responsible company must factor in the concerns,
and potential concerns, of its stakeholders, and
invest appropriately.
Policies that allow for appropriate interaction with
stakeholders provides the basis for achievement in
this area.
37. 37
Transparency
Transparency is critical to accountability.
Transparency, which implies that owners or
managers communicate decision rationale
openly to stakeholders within and outside the
company
Transparency implies direct, open
communication between decision-makers and
key stakeholders.
38. 38
Transparency
Adopting transparency in operational and
reporting processes
Social expectation shifts from ‘why do you
report?’ to ‘why don’t you report
meaningfully and understandably?’
Research indicates correlation between
economic, social and environmental
indicators
38
39. 39
Transparency
Financial reporting is the most commonly
understood form of compliance. More recently,
corporate governance, environmental
performance, and social investments reporting
has been added.
International regulations typically require
disclosure of value, origin, and content, but
increasingly address social responsibility,
environmental safety, fair trade and security.
40. 40
Transparency
Allowing a group of persons to conduct business
without exposure to individual liability makes
the incorporated company a most potent
vehicle of economic activity
Price: laws & informal requirements for
companies to demonstrate financial
transparency & prudence, and fiduciary
trusteeship through disclosure mechanisms.
41. 41
Transparency
Product certifications and labelling
EU 'CE' standards
International Organisation on Standardisation (ISO) standards
And many more...some are listed in the Compliance Reporting
Table
A responsible company understands the importance of
consistent compliance and demonstrates is by using clear,
internationally recognised policies of disclosure that make
improvement and consistency easier for the internal
management and verifying compliance easier for all
stakeholders.
42. 42
Seattle | Bangkok | Karachi | Islamabad
www.cerveletconsulting.com
From Sustainability to Sustainability…
William P. Kittredge, Ph.D.
President
Cervelet | Management & Strategy Consulting
wkittredge@cerveletconsulting.com
(084) 717 7900
43. 43
References
4 P's based on RBI, Pakistan's formulation
AA1000 standard, based on John Elkington's
triple bottom line (3BL) reporting
Editor's Notes
DIMENSIONS OF CSR ALL REQUIRED FOR SUSTAINABILITY SPECIFICS MUST BE CULTURALLY AND ORGANIZATIONALLY APPROPRIATE IF TO SUCCEED.
EXTERNAL ENVIRONMENT – SOCIAL EXPECTATIONS – CONSTANTLY EVOLVING; HENCE THIS IS PROCESS, NOT END POINT
Refer to Table 1
REQUIRES COMMITMENT, NOT LIP SERVICE, OF OWNERS OR MOST SENIOR MANAGEMENT – BOARD OF DIRECTORS, PRESIDENT, CFO, ETC. WITHOUT THE ON-GOING COMMITMENT OF THESE LEADERS, CSR, OR ANY INITIATIVE, WILL FAIL BECAUSE YOUR SUBORDINATES FORCE YOU TO LEAD BY EXAMPLE. WHAT YOU DO MATTERS MUCH MORE THAN WHAT YOU SAY COMPANY PERSONNEL, SUPPLY CHAIN PARTNERS, OTHER STAKEHOLDERS ARE CONCERNED WITH DEEDS, NOT TALK THIS IS SIMPLY AN EXTENSION OF THE BUSINESS PRINCIPLE FOR YOUR PRODUCTS OR SERVICES
INFORMALLY ORGANIZED EMPHASIS ON LEADING BY EXAMPLE NO PLACE TO 'HIDE' IN SMALL BUSINESS BUT TEND NOT TO HAVE FORMAL BUSINESS POLICY PROCESS
UTAH TREASURER EXAMPLE
A company must be clear about its values and articulate them in a way such that everyone associated with its business processes understands them without any confusion. And, these values must be distilled into policies and procedures that work reliably, equitably & without exception. Converting values into policy and practice is perhaps the most crucial milestone on the road to responsible business. It is also a process only decision-makers can lead. Formulating policies and procedures may require long hours of deliberation. Yet once done, a policy document becomes the touchstone for business decisions, and procedures throw up a shield against undue requests from influential members of society.
Started by Arthur Andersen in 1913, the company was founded on a reputation of integrity and professional excellence, with its slogan being, 'Think Straight, Talk Straight'. By 2001, Andersen had grown to 85,000 employees worldwide, with annual revenues of almost a billion dollars. When the Enron and MCI-WorldCom scandals broke, with Andersen's name firmly linked to their accounting malpractices and to other well-publicized financial misadventures at Sunbeam Inc., Asia Paper and Pulp, and the Baptist Foundation. A decade later, even after the U.S. Supreme Court overturned an earlier conviction, Andersen finds itself shunned by the business community as a company that violated its own principles of integrity and paid the ultimate price.
MCI-WorldCom illustrates this well. When it filed for bankruptcy in 2002 it was more than the biggest corporate collapse in U.S. history. It was an example of wayward governance propelled by greed, where an overtly religious CEO attended church while senior managers systematically abused the accounting system through fraudulent entries and loans, reflected losses as investments, and lied to investors in collusion with accountants and stock-market analysts. SEE ALSO ARTHUR ANDERSON & ENRON OR TAJ CASES
This accountability is proportional to their level in an organisation Hence, the owner or CEO has the highest level of responsibility to ensure that the business is profitable, as well as guaranteeing that it is able to fulfil its obligations as expected by law, the market, or society, and that the company remains answerable to each. In the MCI-WorldCom case,owner Bernie Ebbers was sentenced to 25 years in prison, and his senior managers sentenced to five years each. As part of their corporate accountability mechanisms, a number of countries require companies to declare the financial benefits given to board members and senior management. Balance Privacy Concerns
A recent example is that of Toyota, the world's leading car-maker, which ordered a recall of 4.3 million vehicles in response to an August 2009 fatal accident caused by a stuck accelerator pedal. Another 2.3 million vehicles were recalled in 2010. The recall included all but two of Toyota's major models. The company's president, Akio Toyoda, ordered extensive testing for all models, saying, “We are grasping for salvation...Toyota has become too big and distant from its customers,' conveying that the company was responsible for its product and that such faults were the result of it not listening closely to customers. The recall and repair costs for 6.6 million vehicles meant a loss of billions of dollars. However, Toyota correctly realised that the financial costs were insignificant when compared with the retention of 40 years of stakeholder goodwill Product integrity can build a business, but a loss of product integrity can drag a company down. The alternative would likely have been for follow Dow Corning into bankruptcy.
As you can see, a stakeholder may or may not be a shareholder, while all shareholders are stakeholders. Stakeholders is the more general term. Used hereinafter to refer to KEY stakeholders!
While managing a small (40,000 customers) electric utility, I engaged stakeholders via regular attendance by myself or senior staff at Chamber of Commerce, Rotary Club, and similar business oriented organisation meetings and their informal activities, such as charity golf tournaments. I also regularly (usually monthly) randomly selected individual customers from our database and invited them to attend a brief meeting over lunch or breakfast. The simple meals gave me the opportunity to speak directly with customers informally and keep my 'finger on the customers pulse'. For larger organisations, where the customer base is too diverse and/or too dispersed globally, other methods, such as online surveys, Facebook pages, and other social media can be effective engagement tools.
Many use the therm 'social investment' to imply direct company funding for various activities. However, some the most robust and lasting social investments require little or no funding. As manager of a small local electric utility, I provided bucket truck rides to children at local farmer's markets and fairs. The only 'cost' was the salaries of the electric workers I already had employed. As an additional benefit, employee morale was improved. In my business consulting role in the US, SME clients often asked 'how big a check' they should write to a given charity. I pointed out that giving to everyone who asks isn't the answer. In the case of Alliance Bank, a small regional bank building its home mortgage and business loan portfolio, I suggested that staff volunteers take company time to work building homes with Habitat for Humanity, wearing Alliance Bank logo shirts. The Bank's employees were very enthusiastic and the program built several homes for low income people. Alliance Bank employee morale improved, their reputation as 'socially responsible' spread through the home mortgage market, and, while on the job sites, several of the business bankers met contractors and other business people, establishing relationships with them that resulted in business loan activity.
such as employees, shareholders, and consumers. The annual general meeting of shareholders is a regulatory instrument to implement transparency and accountability. Other common ways are through websites, company newsletters and media messages, and increasingly advertising. Taken together, these two concepts manifest a measure of a company's governance and management
In addition, for businesses dealing with overseas clients, there are international regulations, particularly within the European Union and the United States, that typically require disclosure of value, origin, and content, but are increasingly seen to address social responsibility, environmental safety, and even fair trade and security. These aspects, like financial accounting, frequently require the establishment of a compliance system within a company that tracks the entire organisation’s operations for specific compliance data at the process level and generates information that can be reported under law. Such a system is often used by companies to safeguard their internal processes against fraud or misappropriation by employees or managers and to optimise business profitability by avoiding breach of law and its costly consequences.
Another commonplace form of compliance is product labelling. Laws in various countries require that all products sold within that country or exported display information on content, origin, and use. The most commonly regulated products, with respect to claims against unfair or deceptive practices, are food or dietary supplements, medicines and drugs, cosmetics, and consumer equipment and devices. In addition to product content or composition labelling, the law in a number of countries requires safety or care labels on products, particularly textiles, toys, and electronics. Compliance codes in the United States and Europe are increasingly demanding disclosures on social and environmental responsibility, such as statements of natural resource use or child labour, and energy ratings, under laws such as Section 137 of the U.S. Energy Policy Act.
Another commonplace form of compliance is product labelling. Laws in various countries require that all products sold within that country or exported display information on content, origin, and use. The most commonly regulated products, with respect to claims against unfair or deceptive practices, are food or dietary supplements, medicines and drugs, cosmetics, and consumer equipment and devices. In addition to product content or composition labelling, the law in a number of countries requires safety or care labels on products, particularly textiles, toys, and electronics. Compliance codes in the United States and Europe are increasingly demanding disclosures on social and environmental responsibility, such as statements of natural resource use or child labour, and energy ratings, under laws such as Section 137 of the U.S. Energy Policy Act.