The document discusses the objectives and social responsibilities of business. It outlines several economic objectives of business including providing adequate returns to owners, fair compensation to employees, and satisfying customers. Human objectives focus on treating employees and customers as human beings. Organizational objectives include reinvesting profits for growth and achieving an optimal scale of operations. Social objectives encompass supporting local communities and national priorities. The document also presents arguments for and against businesses assuming social responsibilities.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The document discusses various types of business risks. It begins by defining business risk as the possibility of inadequate profits or losses due to uncertainties. It then classifies business risks into 5 main types: strategic risk, financial risk, operational risk, compliance risk, and other risks. Strategic risk includes risks from business environment, transactions, and investor relations. Financial risk includes risks from a company's financial structure and transactions. Operational risk includes risks from administrative and operational procedures. Compliance risk refers to legal risks from needing to comply with government regulations. Other risks depend on the nature and scale of the industry.
Corporate Social Responsibility-Yashvanth G NayakYashavanth Nayak
This document defines corporate social responsibility and outlines its key types and arguments for and against it. CSR refers to businesses going above legal and profit obligations to benefit society. Types include environmental, community, and employee initiatives. Arguments for CSR are that it protects stakeholders, ensures long-term survival and avoids regulation by addressing social issues. However, critics argue CSR shifts focus from profits, increases costs, and may damage reputation if initiatives do not show quick results.
Study of Corporate Social Responsibility in India and its impact on business ...Vishal Gupta
This project report explores corporate social responsibility (CSR) in India through a study of top Indian corporations. The report finds that while some corporations have structured CSR programs, many others take a more superficial approach. CSR activities commonly include partnering with NGOs, funding education and healthcare initiatives, and engaging with local communities. The government also influences CSR through new regulations requiring large companies to dedicate a percentage of profits to CSR. Overall, the study concludes that CSR benefits society through improved living conditions and entrepreneurship, benefits businesses by enhancing their reputation and opportunities in emerging markets, and benefits the government by supporting social development goals.
This document provides an overview of the objectives of a business. It discusses the economic, social, human, national, and global objectives of a business. The economic objectives include profit earning, customer creation, innovation, and efficient resource use. Social objectives involve producing quality goods/services, fair trade practices, and contributing to society. Human objectives center around employee well-being, satisfaction, development, and helping disadvantaged groups. National objectives consist of job creation, social justice, prioritizing domestic production, and generating government revenue. Global objectives pertain to expanding international trade and complying with global standards.
Corporate social responsibility (CSR) has three main dimensions or windows: philanthropy, operational effectiveness, and transforming business models. Philanthropy includes donations, while operational effectiveness improves sustainability. Transforming business models addresses social challenges through new business forms. CSR also considers stakeholders like shareholders, employees, government, and community. It involves balancing business needs with societal responsibilities around areas like the environment, employment, and development. CSR dimensions have evolved over time from ethical and statist models to current stakeholder-focused approaches.
The document discusses key concepts around social entrepreneurship and social businesses. It defines social entrepreneurs as change agents who adopt a social mission to create social value, recognize opportunities to serve that mission, engage in continuous innovation and learning, act boldly without limitations of current resources, and maintain a high level of accountability. True social entrepreneurs will significantly reform or revolutionize their industries. Social businesses differ from traditional businesses in that their earned income strategies are tied directly to their social mission and they pursue a double bottom line of social and financial returns. The document also discusses differences between social entrepreneurs, non-profits, CSR programs, and provides examples of social business ideas and considerations for planning and human resources in social businesses.
The document provides an overview of business environment and discusses how it impacts organizations. It analyzes GSK as a case study. The key points are:
1) Business environment includes internal factors like customers and external factors like government policies that influence business decisions. GSK operates successfully in many countries like India and China.
2) GSK aims to meet objectives of stakeholders like customers, suppliers, employees and shareholders. However, in 2012 it faced legal issues for failing to provide safety data and had to pay a $3 billion penalty.
3) Factors like competition policy, fiscal/monetary policies, and demand/supply influence pricing and output of companies. Market forces shape how companies like GSK respond to the operating environment.
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The document discusses various types of business risks. It begins by defining business risk as the possibility of inadequate profits or losses due to uncertainties. It then classifies business risks into 5 main types: strategic risk, financial risk, operational risk, compliance risk, and other risks. Strategic risk includes risks from business environment, transactions, and investor relations. Financial risk includes risks from a company's financial structure and transactions. Operational risk includes risks from administrative and operational procedures. Compliance risk refers to legal risks from needing to comply with government regulations. Other risks depend on the nature and scale of the industry.
Corporate Social Responsibility-Yashvanth G NayakYashavanth Nayak
This document defines corporate social responsibility and outlines its key types and arguments for and against it. CSR refers to businesses going above legal and profit obligations to benefit society. Types include environmental, community, and employee initiatives. Arguments for CSR are that it protects stakeholders, ensures long-term survival and avoids regulation by addressing social issues. However, critics argue CSR shifts focus from profits, increases costs, and may damage reputation if initiatives do not show quick results.
Study of Corporate Social Responsibility in India and its impact on business ...Vishal Gupta
This project report explores corporate social responsibility (CSR) in India through a study of top Indian corporations. The report finds that while some corporations have structured CSR programs, many others take a more superficial approach. CSR activities commonly include partnering with NGOs, funding education and healthcare initiatives, and engaging with local communities. The government also influences CSR through new regulations requiring large companies to dedicate a percentage of profits to CSR. Overall, the study concludes that CSR benefits society through improved living conditions and entrepreneurship, benefits businesses by enhancing their reputation and opportunities in emerging markets, and benefits the government by supporting social development goals.
This document provides an overview of the objectives of a business. It discusses the economic, social, human, national, and global objectives of a business. The economic objectives include profit earning, customer creation, innovation, and efficient resource use. Social objectives involve producing quality goods/services, fair trade practices, and contributing to society. Human objectives center around employee well-being, satisfaction, development, and helping disadvantaged groups. National objectives consist of job creation, social justice, prioritizing domestic production, and generating government revenue. Global objectives pertain to expanding international trade and complying with global standards.
Corporate social responsibility (CSR) has three main dimensions or windows: philanthropy, operational effectiveness, and transforming business models. Philanthropy includes donations, while operational effectiveness improves sustainability. Transforming business models addresses social challenges through new business forms. CSR also considers stakeholders like shareholders, employees, government, and community. It involves balancing business needs with societal responsibilities around areas like the environment, employment, and development. CSR dimensions have evolved over time from ethical and statist models to current stakeholder-focused approaches.
The document discusses key concepts around social entrepreneurship and social businesses. It defines social entrepreneurs as change agents who adopt a social mission to create social value, recognize opportunities to serve that mission, engage in continuous innovation and learning, act boldly without limitations of current resources, and maintain a high level of accountability. True social entrepreneurs will significantly reform or revolutionize their industries. Social businesses differ from traditional businesses in that their earned income strategies are tied directly to their social mission and they pursue a double bottom line of social and financial returns. The document also discusses differences between social entrepreneurs, non-profits, CSR programs, and provides examples of social business ideas and considerations for planning and human resources in social businesses.
The document provides an overview of business environment and discusses how it impacts organizations. It analyzes GSK as a case study. The key points are:
1) Business environment includes internal factors like customers and external factors like government policies that influence business decisions. GSK operates successfully in many countries like India and China.
2) GSK aims to meet objectives of stakeholders like customers, suppliers, employees and shareholders. However, in 2012 it faced legal issues for failing to provide safety data and had to pay a $3 billion penalty.
3) Factors like competition policy, fiscal/monetary policies, and demand/supply influence pricing and output of companies. Market forces shape how companies like GSK respond to the operating environment.
A Guide to Strategic Corporate Giving in the Philippines.pdfWinterWoods1
Corporate giving, also known as corporate social responsibility or corporate citizenship, involves companies making strategic contributions and partnerships to address social needs and support communities. The document discusses the benefits of corporate giving for companies, including goodwill, reputation enhancement, and improved employee productivity. It also outlines the tax benefits for corporate donors in the Philippines, such as deductions and exemptions, when donations are made to qualified donee organizations like the government, educational institutions, or certified non-profit organizations.
Entrepreneurship course under approved curriculum designLepipi
The document discusses entrepreneurship and the role of small and medium enterprises (SMEs) in national economies. It covers several key points:
1) Entrepreneurs are the driving force behind enterprises and provide guidance and direction to start and ensure the business satisfies customer needs.
2) Priority areas for entrepreneurship development include providing information services, support services like access to finance and linkages, and advocacy and networking.
3) SMEs play an important role in industrial development, innovation, and export promotion based on the historical experiences of developed countries. They will continue to be challenged and important in the future.
[Overview] Barriers and Opportunities at the Base of the Pyramid - The Role o...Dragoș Tuță
As part of its mandate to guide and define the role of the private sector in poverty reduction and inclusive development, the UNDP Istanbul International Center for Private Sector in Development (IICPSD) produced the “Barriers and Opportunities at the Base of the Pyramid” foundational report. Developed by an interdisciplinary team of 18 leading poverty experts, the report leverages an ecological approach to understanding barriers to poverty reduction. The report presents poverty as a complex web of accumulating and interacting disadvantages facing people living in poverty, which in turn, sustain and perpetuate a life of socioeconomic exclusion. The barriers are clustered into five broad categories: Early Developmental Barriers, Health Barriers, Skill Barriers, Social Barriers, and Decision-making Barriers.
Businesses can take many forms and operate in various sectors of the economy. The most common types of business ownership structures include sole proprietorships, partnerships, corporations, cooperatives, and franchises. Each structure has different legal and tax implications. Businesses produce goods and services to earn profit and can operate in sectors like agriculture, finance, entertainment, manufacturing, real estate, retail, transportation, utilities, and services.
Forms of business organizations _sole trader,partnership,joint ventures,advantages and Disadvantages of various forms of business,momorendom of certificate, partnership Deed ,public corporation and government company.
The document discusses Indian ethical practices and corporate governance. It covers ethics in marketing and advertising, human resources management, and corporate governance. For marketing ethics, it outlines guidelines for ethical marketing including being transparent, protecting consumer data, committing to sustainability, responding to consumer concerns, and maximizing benefits while minimizing risks. It also describes unethical practices to avoid such as exaggeration, false comparisons, unverified claims, stereotyping, and exploiting emotions. For human resources, it notes the importance of ethics in areas like compensation, development, and health/safety issues. The document provides an overview of key topics around Indian business ethics.
Labour welfare aims to promote workers' physical, social, psychological, and general well-being beyond just wages. It has become more important with industrialization. There are various definitions of labour welfare but it generally refers to voluntary efforts by employers to improve workers' conditions and lives. The scope of welfare varies between industries and countries but commonly includes amenities to improve workers' working and living conditions. Objectives include increasing efficiency, improving loyalty, attracting workers, and reducing union influence. Welfare can be statutory, voluntary, or mutual and includes intramural activities within the workplace and extra-mural activities outside of it. There is a need for welfare due to workers' needs, ethical considerations, and benefits to employers like improved
The document discusses corporate social responsibility (CSR) practices in the textile industry in India. It provides background on the textile industry in India, including that it is one of the largest employers. It then profiles Raymond, a large textile company, describing its business lines and CSR initiatives in education, research, and community development, particularly focused on empowering women and underprivileged groups. The summary outlines the context of CSR in India and provides an overview of Raymond's business and CSR activities.
CORPORATE SOCIAL RESPONSIBILITY AND EDUCATION SECTOR: ISSUES AND REMEDIES IAEME Publication
This document discusses corporate social responsibility (CSR) initiatives in the education sector in India. It provides background on the need for CSR in education due to issues like poverty limiting access. The document then discusses some key issues with CSR implementation, like a lack of consensus and transparency. It also outlines some CSR strategies and initiatives companies have taken in education, such as building schools, offering scholarships, and increasing access through infrastructure and awareness programs. The goal of the document is to explore the role of educational institutions and companies in promoting education through various CSR activities and strategies.
The Importance of Social Entrepreneurship of Profit Based Businesses towards ...ijtsrd
This document summarizes a research paper on the importance of social entrepreneurship of profit-based businesses towards their brand image and reputation. The paper discusses how social entrepreneurship can help organizations build their brand image and reputation through connecting with customers and contributing to social causes. Engaging in social entrepreneurship allows businesses to differentiate themselves from competitors and attract customers looking to support organizations with social missions. While social entrepreneurship is important for an organization's brand, the summary emphasizes that businesses also need strong marketing of their products, services, and value to customers in order to succeed.
The document provides an overview of topics related to corporate social responsibility (CSR) in India. It discusses the definition of CSR, laws around CSR in India, why CSR is important for businesses, the CSR process including defining strategies and programs, monitoring impact, and reporting. It also provides examples of CSR initiatives undertaken by major Indian companies like Tata Steel, Tata Power, and others. The key points covered include the legal requirements around CSR spending in India, benefits to businesses from CSR, and how leading companies structure and implement their CSR programs.
This document discusses social enterprises and social investment. It defines social enterprises as businesses that apply commercial strategies to maximize social and environmental benefits rather than profits. They reinvest profits back into the community. The document outlines legal structures for social enterprises and factors that make a good social enterprise, such as a clear social motivation and reinvesting profits. It also defines social investment as financing that aims for both social and financial returns, and provides an example of a social investment in a training academy.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
This document discusses different types of entrepreneurial ventures including ownership of businesses, types of businesses, size of businesses, and typologies of entrepreneurs. It provides examples for each category. The main similarities between entrepreneurial ventures are that they all aim to satisfy customer needs. The main differences are in ownership structure, goals based on size, and focus areas for different entrepreneur typologies such as social, technological, or corporate entrepreneurs. Social entrepreneurs focus on social impact while technological entrepreneurs focus on new technologies. Corporate entrepreneurs work within existing large companies to improve and expand business operations.
This document provides an overview of entrepreneurial ventures including ownership of business, type of business, size of business, typology of entrepreneur, and similarities and differences between entrepreneurial ventures. It discusses the different types of business ownership including public, private corporations, and individual companies. It also examines the types of businesses such as private limited, public limited, and social enterprises. It analyzes business size from micro, small, medium, to large. Typologies of entrepreneurs include social, technological, and corporate entrepreneurs. Finally, it compares the similarities and differences between entrepreneurial ventures in terms of size, type, and ownership and provides a critical analysis.
Unit 1 introduction to business organisationManish Kumar
Any organization that fulfills itself through making a product or service is business. This presentation slides is apt for BBA I Semester students from Chaudhary Charan SIngh University
This document discusses the purposes of different types of organizations:
1. Private companies aim to earn profits for owners and shareholders. Alliance Boots is used as an example, with goals of growing its core pharmacy business, improving productivity to increase profits, and pursuing new markets.
2. Government departments, like the UK's National Health Service, aim to provide benefits to society rather than earn profits. Goals include providing affordable and accessible healthcare to improve public health.
3. Charity organizations are non-profits that aim to improve social welfare and public interests, rather than earn profits. Christian Aid is used as an example, with a goal of creating a more just world.
This document proposes an employee volunteering program between CSM Sport & Entertainment and the Youth Sports Trust. The program would involve 30 CSM employees volunteering one day per month, totaling 360 volunteer days per year. Employees would assist with Youth Sports Trust programs like bike safety training and sports programs for those with disabilities. Questionnaires would evaluate the program's impact on volunteers. The program would be promoted through CSM's internal portal and social media channels. While employee time spent volunteering is a cost, the program could enhance employee skills in a cost-effective way compared to other training options. The first year would serve as a trial to address potential issues from management skepticism to program execution.
This document discusses corporate social responsibility (CSR) and the evolution of CSR practices in India, particularly for banks and other corporations. It provides details on the history and phases of CSR in India, the legal requirements for CSR under the Companies Act 2013, common CSR activities undertaken in India, and the Reserve Bank of India's guidelines on CSR for banks. The key points are that CSR has evolved from voluntary charity to an integral part of business operations, the Companies Act 2013 mandates CSR spending for large companies, and banks undertake CSR activities focused on financial inclusion, priority sector lending, and rural development.
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of customers, employees, shareholders, communities, and the environment in its business decisions and activities. CSR involves voluntary actions that businesses take to support social and environmental goals. It goes beyond legal compliance to promote the public interest through community development, ethical practices, and environmental stewardship. CSR has become a global concept where companies consider the impact of their activities on various stakeholders. Firms recognize that acting responsibly can create value for their business and employees feel proud to work for a socially committed company.
A Guide to Strategic Corporate Giving in the Philippines.pdfWinterWoods1
Corporate giving, also known as corporate social responsibility or corporate citizenship, involves companies making strategic contributions and partnerships to address social needs and support communities. The document discusses the benefits of corporate giving for companies, including goodwill, reputation enhancement, and improved employee productivity. It also outlines the tax benefits for corporate donors in the Philippines, such as deductions and exemptions, when donations are made to qualified donee organizations like the government, educational institutions, or certified non-profit organizations.
Entrepreneurship course under approved curriculum designLepipi
The document discusses entrepreneurship and the role of small and medium enterprises (SMEs) in national economies. It covers several key points:
1) Entrepreneurs are the driving force behind enterprises and provide guidance and direction to start and ensure the business satisfies customer needs.
2) Priority areas for entrepreneurship development include providing information services, support services like access to finance and linkages, and advocacy and networking.
3) SMEs play an important role in industrial development, innovation, and export promotion based on the historical experiences of developed countries. They will continue to be challenged and important in the future.
[Overview] Barriers and Opportunities at the Base of the Pyramid - The Role o...Dragoș Tuță
As part of its mandate to guide and define the role of the private sector in poverty reduction and inclusive development, the UNDP Istanbul International Center for Private Sector in Development (IICPSD) produced the “Barriers and Opportunities at the Base of the Pyramid” foundational report. Developed by an interdisciplinary team of 18 leading poverty experts, the report leverages an ecological approach to understanding barriers to poverty reduction. The report presents poverty as a complex web of accumulating and interacting disadvantages facing people living in poverty, which in turn, sustain and perpetuate a life of socioeconomic exclusion. The barriers are clustered into five broad categories: Early Developmental Barriers, Health Barriers, Skill Barriers, Social Barriers, and Decision-making Barriers.
Businesses can take many forms and operate in various sectors of the economy. The most common types of business ownership structures include sole proprietorships, partnerships, corporations, cooperatives, and franchises. Each structure has different legal and tax implications. Businesses produce goods and services to earn profit and can operate in sectors like agriculture, finance, entertainment, manufacturing, real estate, retail, transportation, utilities, and services.
Forms of business organizations _sole trader,partnership,joint ventures,advantages and Disadvantages of various forms of business,momorendom of certificate, partnership Deed ,public corporation and government company.
The document discusses Indian ethical practices and corporate governance. It covers ethics in marketing and advertising, human resources management, and corporate governance. For marketing ethics, it outlines guidelines for ethical marketing including being transparent, protecting consumer data, committing to sustainability, responding to consumer concerns, and maximizing benefits while minimizing risks. It also describes unethical practices to avoid such as exaggeration, false comparisons, unverified claims, stereotyping, and exploiting emotions. For human resources, it notes the importance of ethics in areas like compensation, development, and health/safety issues. The document provides an overview of key topics around Indian business ethics.
Labour welfare aims to promote workers' physical, social, psychological, and general well-being beyond just wages. It has become more important with industrialization. There are various definitions of labour welfare but it generally refers to voluntary efforts by employers to improve workers' conditions and lives. The scope of welfare varies between industries and countries but commonly includes amenities to improve workers' working and living conditions. Objectives include increasing efficiency, improving loyalty, attracting workers, and reducing union influence. Welfare can be statutory, voluntary, or mutual and includes intramural activities within the workplace and extra-mural activities outside of it. There is a need for welfare due to workers' needs, ethical considerations, and benefits to employers like improved
The document discusses corporate social responsibility (CSR) practices in the textile industry in India. It provides background on the textile industry in India, including that it is one of the largest employers. It then profiles Raymond, a large textile company, describing its business lines and CSR initiatives in education, research, and community development, particularly focused on empowering women and underprivileged groups. The summary outlines the context of CSR in India and provides an overview of Raymond's business and CSR activities.
CORPORATE SOCIAL RESPONSIBILITY AND EDUCATION SECTOR: ISSUES AND REMEDIES IAEME Publication
This document discusses corporate social responsibility (CSR) initiatives in the education sector in India. It provides background on the need for CSR in education due to issues like poverty limiting access. The document then discusses some key issues with CSR implementation, like a lack of consensus and transparency. It also outlines some CSR strategies and initiatives companies have taken in education, such as building schools, offering scholarships, and increasing access through infrastructure and awareness programs. The goal of the document is to explore the role of educational institutions and companies in promoting education through various CSR activities and strategies.
The Importance of Social Entrepreneurship of Profit Based Businesses towards ...ijtsrd
This document summarizes a research paper on the importance of social entrepreneurship of profit-based businesses towards their brand image and reputation. The paper discusses how social entrepreneurship can help organizations build their brand image and reputation through connecting with customers and contributing to social causes. Engaging in social entrepreneurship allows businesses to differentiate themselves from competitors and attract customers looking to support organizations with social missions. While social entrepreneurship is important for an organization's brand, the summary emphasizes that businesses also need strong marketing of their products, services, and value to customers in order to succeed.
The document provides an overview of topics related to corporate social responsibility (CSR) in India. It discusses the definition of CSR, laws around CSR in India, why CSR is important for businesses, the CSR process including defining strategies and programs, monitoring impact, and reporting. It also provides examples of CSR initiatives undertaken by major Indian companies like Tata Steel, Tata Power, and others. The key points covered include the legal requirements around CSR spending in India, benefits to businesses from CSR, and how leading companies structure and implement their CSR programs.
This document discusses social enterprises and social investment. It defines social enterprises as businesses that apply commercial strategies to maximize social and environmental benefits rather than profits. They reinvest profits back into the community. The document outlines legal structures for social enterprises and factors that make a good social enterprise, such as a clear social motivation and reinvesting profits. It also defines social investment as financing that aims for both social and financial returns, and provides an example of a social investment in a training academy.
Provisions for Corporate Social Responsibility in Companies Act, 2013RHIMRJ Journal
CSR as a concept has attracted worldwide attention and acquired a new resonance in the global economy Heightened
interest in CSR in recent years has stemmed from the advent of globalisation and international trade, which has reflected in
increased business complexity and new demands for enhanced transparency and corporate citizenship. Moreover, while
Governments have traditionally assumed the sole responsibility for the improvement of the living conditions of the population,
society’s needs have exceeded the capabilities of Governments to fulfill them. In this context, the spotlight is increasingly
turning to focus on the role of business in society and progressive companies are seeking to differentiate themselves through
engagement in what is referred to as CSR. The Companies Act, 2013 has taken one step ahead and introduced mandatory
provisions in the field of CSR. Though many believe that concerns on the new company law are manifold and it is a bold yet
not beautiful step. For instance, India Inc is concerned that the cost of board performance evaluation may outweigh the
benefits for many small companies in this regard. Also, it has concerns about the prospect of an over regulated regime and the
attendant scourge of corruption. Given the advantages and concerns on the new regulations introduced by the new Companies
Act, we all need to wait and watch once the companies start implementing the new provisions and therefore, the practical
aspects and implications will be evaluated thereafter.
This document discusses different types of entrepreneurial ventures including ownership of businesses, types of businesses, size of businesses, and typologies of entrepreneurs. It provides examples for each category. The main similarities between entrepreneurial ventures are that they all aim to satisfy customer needs. The main differences are in ownership structure, goals based on size, and focus areas for different entrepreneur typologies such as social, technological, or corporate entrepreneurs. Social entrepreneurs focus on social impact while technological entrepreneurs focus on new technologies. Corporate entrepreneurs work within existing large companies to improve and expand business operations.
This document provides an overview of entrepreneurial ventures including ownership of business, type of business, size of business, typology of entrepreneur, and similarities and differences between entrepreneurial ventures. It discusses the different types of business ownership including public, private corporations, and individual companies. It also examines the types of businesses such as private limited, public limited, and social enterprises. It analyzes business size from micro, small, medium, to large. Typologies of entrepreneurs include social, technological, and corporate entrepreneurs. Finally, it compares the similarities and differences between entrepreneurial ventures in terms of size, type, and ownership and provides a critical analysis.
Unit 1 introduction to business organisationManish Kumar
Any organization that fulfills itself through making a product or service is business. This presentation slides is apt for BBA I Semester students from Chaudhary Charan SIngh University
This document discusses the purposes of different types of organizations:
1. Private companies aim to earn profits for owners and shareholders. Alliance Boots is used as an example, with goals of growing its core pharmacy business, improving productivity to increase profits, and pursuing new markets.
2. Government departments, like the UK's National Health Service, aim to provide benefits to society rather than earn profits. Goals include providing affordable and accessible healthcare to improve public health.
3. Charity organizations are non-profits that aim to improve social welfare and public interests, rather than earn profits. Christian Aid is used as an example, with a goal of creating a more just world.
This document proposes an employee volunteering program between CSM Sport & Entertainment and the Youth Sports Trust. The program would involve 30 CSM employees volunteering one day per month, totaling 360 volunteer days per year. Employees would assist with Youth Sports Trust programs like bike safety training and sports programs for those with disabilities. Questionnaires would evaluate the program's impact on volunteers. The program would be promoted through CSM's internal portal and social media channels. While employee time spent volunteering is a cost, the program could enhance employee skills in a cost-effective way compared to other training options. The first year would serve as a trial to address potential issues from management skepticism to program execution.
This document discusses corporate social responsibility (CSR) and the evolution of CSR practices in India, particularly for banks and other corporations. It provides details on the history and phases of CSR in India, the legal requirements for CSR under the Companies Act 2013, common CSR activities undertaken in India, and the Reserve Bank of India's guidelines on CSR for banks. The key points are that CSR has evolved from voluntary charity to an integral part of business operations, the Companies Act 2013 mandates CSR spending for large companies, and banks undertake CSR activities focused on financial inclusion, priority sector lending, and rural development.
Corporate social responsibility (CSR) refers to a company's obligation to consider the interests of customers, employees, shareholders, communities, and the environment in its business decisions and activities. CSR involves voluntary actions that businesses take to support social and environmental goals. It goes beyond legal compliance to promote the public interest through community development, ethical practices, and environmental stewardship. CSR has become a global concept where companies consider the impact of their activities on various stakeholders. Firms recognize that acting responsibly can create value for their business and employees feel proud to work for a socially committed company.
The document discusses the social responsibilities of business towards different stakeholder groups. It outlines 11 responsibilities towards consumers and the community, including producing quality goods and services, honoring contracts, preventing monopolies, and supporting education. It also details 5 responsibilities towards employees and workers, such as providing fair wages, training, and good working conditions. The document emphasizes that businesses depend on society and have obligations to various stakeholders.
Corporate social responsibility (CSR) refers to companies operating in a manner that is ethical, legal, and beneficial to society. While companies' main responsibility was traditionally maximizing profits, CSR recognizes that companies impact communities and the environment and have broader obligations. CSR includes practices like respecting human rights, protecting the environment, contributing to local communities, and ensuring ethical business practices. Companies benefit from CSR by improving relationships with stakeholders, managing risks and reputation, and attracting skilled employees and consumer loyalty.
The document discusses the social responsibility of businesses. It defines social responsibility as an entity's responsibility to society beyond legal obligations. Corporate social responsibility refers to businesses considering societal impacts in their activities and voluntarily improving stakeholder and community welfare. Businesses have responsibilities to shareholders to maximize profits legally, to employees for fair treatment, to consumers for quality and ethical products, and to local communities for limiting environmental impacts and contributing to development. Factors influencing business social orientation include management priorities, laws, resources, competitors and ethics.
Learning Activity #1Organizations must clearly articulate a Mi.docxsmile790243
Learning Activity #1
Organizations must clearly articulate a Mission Statement and Vision Statement in order to strategically plan. Failing to understand that initial step of the Strategic Planning process often leads an organization away from, instead of towards, effective strategic planning.
Below are four (4) Mission Statements and four (4)Vision Statements; select ONE Mission Statement and ONE Vision Statement. Clearly explain why the select Mission Statement and Vision Statement is effective or ineffective; offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting.
Mission Statements
McDonald's vision is to be the world's best quick service restaurant experience. Being the best means providing outstanding quality, service, cleanliness, and value, so that we make every customer in every restaurant smile.
The American Cancer Society is the nationwide community-based voluntary health organization dedicated to eliminating cancer as a major health problem by preventing cancer, saving lives, and diminishing suffering from cancer, through research, education, advocacy, and service.
To enhance quality of life for all as we age. We lead positive social change and deliver value to members through information, advocacy and service.
To create a shopping experience that pleases our customers; a workplace that creates opportunities and a great working environment for our associates; and a business that achieves financial success.
Vision Statements
GM’s vision is to be the world leader in transportation products and related services. We will earn our customers’ enthusiasm through continuous improvement driven by the integrity, teamwork, and innovation of GM people.
Develop, deploy, and manage a diverse set of scalable and strategic knowledge management tools to serve our customers, improving the possibility of overall satisfaction among our diverse customer profiles
To build the largest and most complete Amateur Radio community site on the Internet.
We intend to provide our customers with the best online shopping experience from beginning to end, with a smart, searchable website, easy-to-follow instructions, clear and secure payment methods, and fast, quality delivery.
Learning Activity #2
The “5 P’s of Strategy” capture the complexity of defining Strategic Management. Select ONE of the “5 P’s” – (1) explain why you selected that particular concept, i.e., why do you believe it is important to the overall strategic management process and (2) explain whether that particular concept requires more of a perspective of art or science from the strategic leaders point of view.
Clearly explain your position; offer supporting rationale for your explanation and be sure to reference your statements using proper APA formatting.
2/20/2017 The Social Responsibility of Business is to Increase its Profits, by Milton Friedman
http://www.colorado.edu/studentgroups/libertarians/issues/friedman-s ...
The document discusses corporate social responsibility (CSR) and its importance for businesses. It defines CSR as a company being responsible for its social, ethical and environmental actions. The document outlines the scope of CSR, including responsibilities to shareholders, employees, customers and the community. It discusses how CSR can boost brand image, customer loyalty and employee satisfaction. The document also discusses corporate governance, its principles of sustainability, accountability and transparency, and why governance is important for trust, strategic thinking and risk management.
Corporate social responsibility refers to businesses having an obligation to work for social betterment beyond just increasing profits. While traditionally the view was that businesses only responsibility was to shareholders, the contemporary view is that as influential members of society, businesses are responsible for helping maintain and improve overall welfare. Businesses have accountability to key stakeholders like shareholders, employees, customers, creditors/suppliers, society, and government. Strategies for social responsibility range from proactive initiatives to meet all responsibilities to defensive approaches that do just the legal minimum.
This document discusses social responsibility and ethics in business. It defines social responsibility as a business being accountable for the impacts of its decisions on society and the environment. The document outlines Carroll's four responsibilities of business as economic, legal, ethical, and discretionary. It also discusses the social responsibilities of business to internal stakeholders like employees and owners, and external stakeholders like the community, government, and environment. The document defines ethics and discusses topics like ethical dilemmas, reasons for unethical behavior, and frameworks for encouraging ethical behavior like Kohlberg's levels of moral development. In conclusion, it emphasizes that businesses must balance economic growth with the welfare of society and environment to achieve social responsibility.
The document discusses social responsibility and ethics in business. It defines social responsibility as a business being responsible for the impacts of its decisions on society and the environment. The document outlines Carroll's four responsibilities of business as economic, legal, ethical, and discretionary. It discusses the social responsibilities of business to internal stakeholders like employees, owners, and investors as well as external stakeholders like society, competitors, customers, and the government. The benefits of businesses acting socially responsible are also presented, such as generating goodwill, attracting employees, and building relationships with suppliers.
The document discusses various topics related to business and society, including objectives of business, social responsibility of business, social audit, the role of government in business, and corporate governance. It provides details on the responsibilities of business to shareholders, employees, consumers, and community. It also examines factors influencing the social orientation of businesses and different views on the level of social involvement.
The document discusses the objectives and social responsibilities of business. It covers topics like the objectives of business being both profit and social welfare, the social responsibilities of business to shareholders, employees, consumers, and community, and the role of government in regulating and promoting business. It also discusses social audit as a tool to evaluate a company's social performance and discharge of responsibilities.
Stakeholders play an important role in corporate social responsibility by using their influence and voting power to shape company goals and policies. Stakeholders have a social responsibility to act in the best interests of the entire company, its market and employees. This includes considering social impacts, pushing for ethical practices and transparency, and ensuring employee welfare. For a company to truly serve its stakeholders, it must integrate social and environmental responsibilities into its business model through practices of corporate social responsibility.
Corporate social responsibility (CSR) refers to a company's responsibility to consider the interests of society through its activities and business relationships. CSR includes improving the quality of life of employees and their families as well as the local community and society. While primarily associated with businesses, activist groups and communities can also demonstrate social responsibility. Social auditing is a tool used to evaluate how well a company has fulfilled its social responsibilities and identify areas for improvement.
Management Principles in fundamentals of Management.pptvinoth656550
The document discusses the concepts of corporate citizenship and corporate social responsibility (CSR). It defines corporate citizenship as a company's social obligations to the community, including legal, ethical, and socio-economic responsibilities. CSR refers to business practices that benefit society and the environment in addition to generating profits. The document outlines five stages of corporate citizenship development and four main types of CSR initiatives, including environmental, ethical, philanthropic, and economic responsibilities. It also provides an example of an electronics company implementing an e-waste collection program to improve its corporate citizenship and image.
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The document discusses the social responsibility of businesses. It defines social responsibility and corporate social responsibility, and outlines the need for businesses to be socially responsible. This includes maintaining a good public image, avoiding government interference, fulfilling moral obligations as members of society, and addressing consumer and employee concerns. The document also discusses the responsibilities of businesses to different stakeholders like owners, employees, consumers, government, community and suppliers. It provides a 10-point charter for social responsibility and outlines how CSR has evolved in India through legislation like the Companies Act, 2013.
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Objectives and social responsibilities of business
1. Objectives And Social Responsibilities of Business
Introduction:
To a layman, an objective is an aim or a goal. This is a very vague description as it does
not convey a specific meaning. If this definition is followed, it will not be possible to
distinguish the short-term objectives and the long-term objectives. In order to be specific, an
objective of an activity should be defined in relation to its environment. Thus, we may define
a business objective as purpose or the reason for its existence
Economic Objectives : Since business is essentially an economic activity, the primary focus
of economic objectives is on three important constituents of the business system, namely:
(a) The owners
(b) The employees and
(c) The customers.
The owner(s) must get adequate return, on the capital invested and the risk undertaken by
him or them in the form of profit or dividend. The employees must be adequately
compensated through fair wages or salaries, allowances, bonus, and other welfare facilities in
the form housing, medical and healthcare, education of children, recreational facilities,
retirement benefits, etc. So that they devote heart and soul in organisation’s work and work in
the spirit of doing it not as hired employees but as if they are doing their own work.
Customers are the patrons of the business enterprise and their satisfaction must be uppermost
in the mind of the businessmen. Customers feel satisfied if they are supplied with quality
products at reasonable prices coupled with adequacy of regular supply, after sale service,
courtesy, etc. “The customer is the foundation of a business and keep it in existence”.
Business earns profit by satisfying the needs of the customers. As a matter of fact, the first
and foremost objective of a business is creation and satisfaction of customers. Earning of
sufficient profits is necessary not only to provide adequate rewards to the owners and the
employees, but the employees, but also to provide for innovation and growth and
diversification. The most important and remarkable benefits to the society through innovation
and growth are in the form of better products at lower rates and increase in employment
opportunities.
Human Objectives : Focus on human objectives is mainly on two constituents, namely, (a)
employees and (b) customers, both of whom must have a feeling of having been treated as
human beings by the business enterprise. Employees, in order to have a feeling of having
been treated as human beings, look forward to a business enterprise for the following
objectives:
(i) They are treated as partners in the joint venture and not as inferior lot;
(ii) They are able to acquire and develop new abilities and skills in the process of
employment; and
(iii) They derive job-satisfaction.
(iv) These help them to develop commitment to their work and in turn to the
organization in which they are working.
2. Customers also look at the business enterprises as an institution which takes care of their
needs as human beings. Hence the importance of courtesy, accommodation, understanding
and fairness in dealings with the customers is quite obvious. This also points out the need for
realization on the part of business enterprises that they do not fall prey to the temptation of
profiteering through adulteration, hoarding, cornering of stocks, etc.
Organisational Objectives : Business enterprises, from the point of view of its growth and
stability, can be compared with the human anatomy. Just as human body grows through a
number of stages, that is, from infancy to childhood, from childhood to adolescence, from
adolescence to adulthood and from adulthood to maturity, a business enterprise also passes
through such phases during its existence. In order that a business may grow through these
stages in time and with strength, it is necessary that the business strives for (a) ploughing
back a part of its profits so that it may acquire strength to grow and survive in the face of
competition; and (b) attaining an optimum size of operations so that it could avail of the
economies of the scale.
Social Objectives : These objectives of business can be put in two categories: (i) Micro level
(i.e.,) immediate environmental objectives); and (ii) Macro level (i.e., national objectives );
Micro level social objectives. Under this category, this category, the business is expected help
in the spread of literacy, education, training, medical care and public health, control of air and
water pollution, development of backward classes and regions, and helping cultural, religious
and charitable institutions engaged in the work of improving the lot of human beings.
Social Responsibilities of Business:
A large number of significant changes have taken place in social, political, economic and
other aspects of modern culture. These changes make it appropriate to re-examine the role of
modern business. It is common today to hear speeches or read articles calling for more social
consciousness on the part of the business organizations. The demand for greater social
awareness from the business organizations is a move and an important part of the society’s
attempt to make them more responsive to the need of mankind. It is heartening to note that
society’s changing values and needs are being due importance by the leading business houses
of the world. This is obvious from the fact that the business houses are carrying on research
and development activities and producing goods and services to provide greater satisfaction
to the economic and social development of their nation. Since long there has been a
controversy whether business should assume social responsibilities, or it has no such
obligations to fulfil. It would be worthwhile to analyze the arguments offered both in favour o
f and against assumption of social responsibilities by business. First of all we shall begin with
the analysis of arguments in favor.
Supporting Arguments :
The important arguments offered in favour of business assuming social responsibilities are
as follows.
(i) Response to Social Demand : It is a well known fact that business is set up to earn profit
by producing goods or rendering services to the members of the society. Thus, the business is
the creation of the society in the sense that its primary objective is to fulfill the needs of the
members of the society. In case the business fails to do so, the society through people’s
representatives in Government will either force them to do so through laws or may no longer
permit them to survive.
3. (ii) Long-term self-Interest of Business : There is a growing realization on the part of the
enlightened businessmen that it will be in their self-interest to fulfil the demands and the
aspirations of the society. People who have a good environment, education, and opportunity
make better employees, customers and neighbours for business than those who are poor,
ignorant and oppressed. To quote Arjay Miller: “Under current conditions, management
cannot effectively discharge its long-run responsibilities to shareholders unless it also
behaves responsibly towards employees, customers, government, education and the public at
large. The ability of a corporation to protect and enhance the stockholders equally depends
crucially upon the prosperity, goodwill and confidence of the larger community. Acceptance
of a large measure of responsibility towards the community is, therefore, good business as
well as good citizenship.”
(iii) Government Intervention : If the businessmen do not rise to the occasion in meeting the
social responsibilities, the Government will step in and make them assume such
responsibilities through legislation. Such legislative regulation is expensive for business and
stand in the way of flexibility and freedom in making decisions and meeting competition.
Hence it would again be in the interest of business community to voluntarily undertake to
fulfill the social responsibilities. In doing so the business will also retain the needed
credibility with the public pressure.
(iv) Public Image : The antennas of business managers are turned to the public opinion as
good public opinion is a precondition to the success of any business. Therefore, they seek to
maintain a proper image of their business in the public mind by assuming social
responsibilities.
(v) Socio-Cultural Norms : A business operates within a set-up of socio-cultural norms and
restraints. No society will allow a business to maximize its profits at the cost of the society. It
requires the business to respond to social obligations. It may even report to legal means to
enforce discipline among the businessmen.
(vi) Consciousness Among Consumers : The consumers of today are well informed. They
accept higher quality products at reasonable rates from the business. They can organize
themselves in case a business resorts to malpractices such as adulteration and black
marketing.
(vii) Strong Trade Unions : The level of education among the workers has been increasing.
They understand the need of organizing themselves into unions to advance their economic
and social interests. The government has also enacted social security measures due to which
it has become difficult for the business houses to ignore the interests of the work force.
Objecting Arguments :
The case against assuming Social Obligations. The classical view has been against the
business assuming social responsibilities. It is argued that business is an economic institution
and as such its primary responsibility is to produce goods and services efficiently and to earn
profits for its owners, namely, the shareholders. Milton Friedman, a noted world economist
and Nobel laureate supports the view of the classis in this regard. Friedman argues that “in a
free enterprise, private property system, a manager is an employee of the owners of the
business and directly responsible to them as his employers. Since stockholders want to make
as much profit as possible, the manager’s sole objective should be to try to do this. If a
manager spends stockholder’s money in the public interest, he is spending stock holder’s
4. money without their approval and perhaps in ways stockholders would oppose. Similarly, if
the cost of social action is passed on to consumers in the form of higher prices the manager is
spending their money also. This is taxation without representation.” He further goes on to
observe that “there is one and only one social responsibility of business-to use its resources
and engage in activities designed to increase its profits so long as it stays within the rules of
the game which is to say, engages in open and free competition, without deception or fraud.
Few trends could so thoroughly under mine the very foundation of our free society as the
acceptance by corporate officials of a social responsibility other than to make as much money
for their stock-holders as possible. This is a fundamentally subversive doctrine. In addition to
the observations made by Milton Freidman, some more arguments are advanced opposing the
idea of business assuming social responsibilities. These arguments are as follows:
(i) Violation of Rule of Profit Maximization : As a businessman moves away from the simple
rule of profit maximization that guides his actions into the social and political realm, he has
two guides to him know what social responsibilities he should assume in the public interest.
The businessmen should not try to determine what is the public interest because “the
economic system is not a playground on which businessman may exercise their peculiar
preferences.”
(ii) Less Efficient Use of Resources : The doctrine of social responsibility implies acceptance
of socialist view that political mechanisms rather than market mechanisms are the appropriate
ways to allocate scare resources to alternative uses. As this process evolves, there will be an
erosion of the drive to use resources efficiently and a loss of the greater productivity of the
present economic mechanism.
(iii) Burden on Consumers : If the market price of a product does not truly reflect the relative
costs of producing it, but includes costs for social actions, the allocative mechanism of the
market place will be distorted. The customer will have to pay a higher price than necessary to
call the goods into the market because the business is spending funds on social
responsibilities.
(iv) Lack of Social Skills : Businessman do not necessarily have social skills. Because of this
they may not able to solve social problems even though they spend a large amount for this
purpose.
(v) Lack of Self-Interest : There is no substitute for the power of self interest to get people to
act. Assumption of social responsibilities will hinder the achievements of self interests of
businessmen. Any replacement of the altruism for self-interest will, therefore, be fatal to the
efficiency of the business system