Strategic management-linking of strategy with ethics and social responsibilities
1.
2.
3.
4. STRATEGY
A PLAN OF ACTION DESIGNED TO ACHIEVE A
LONG-TERM OR OVERALL AIM.
A COMPANY’S STRATEGY IS THE GAME PLAN
MANAGEMENT IS USING TO CONDUCT ITS
OPERATIONS, ATTRACT AND PLEASE
CUSTOMERS, COMPLETE SUCCSESSFULLY,
AND ACHIEVE ORGANISATIONAL OBJECTIVES.
5. BUSSINESS ETHICS
BUSINESS ETHICS INVOLVES APPLYING GENERAL
ETHICAL PRINCIPLES AND STANDARDS TO
BUSINESS BEHAVIOUR.
EXAMPLE OF ETHICAL BEHAVIOURS-:
HONESTY
INTEGRITY
KEEPING ONE’S WORD
RESPECTING RIGHTS OF OTHERS
6. CORPORATE SOCIAL RESPONSIBILITY IS A
BUSINESS APPROACH THAT CONTRIBUTES
TO SUSTAINABLE DEVELOPMENT BY
DELIVERING ECONOMIC, SOCIAL AND
ENVIRONMENTAL BENEFITS FOR ALL
STAKEHOLDERS.
8. AN ETHICAL STRATEGY
- GOOD BUSINESS
- IN THE SELF-INTEREST OF SHAREHOLDERS
AN UNETHICAL STRATEGY
- IS MORALLY WRONG
- REFLECT BADLY ON THE CHARACTER OF COMPANY
PERSONNEL
9. GENERATES INTERNAL BENEFITS
INCREASE RETENTION OF EMPLOYEES
INCREASES EMPOYEES PRODUCTIVITY
INCREASE EMPLOYEES EFFICIENCY
WORK IN BEST INTEREST OF SHAREHOLDERS
REDUCES RISK OF REPUTATION
FOCUSING ON ENVIRONMENT ISSUES MAY ENHANCE
EARNING
10. INDIAN AUTOMOBILE MANUFACTURER MAHINDRA &
MAHINDRA ESTABLISHED THE K.C. MAHINDRA EDUCATION
TRUST IN 1954, FOLLOWED BY MAHINDRA FOUNDATION IN
1969 WITH THE PURPOSE OF PROMOTING EDUCATION. THE
COMPANY PRIMARILY FOCUSES ON EDUCATION PROGRAMS
TO ASSIST ECONOMICALLY AND SOCIALLY DISADVANTAGED
COMMUNITIES. CSR PROGRAMS INVEST IN SCHOLARSHIPS
AND GRANTS, LIVELIHOOD TRAINING, HEALTHCARE FOR
REMOTE AREAS, WATER CONSERVATION AND DISASTER
RELIEF PROGRAMS. M&M RUNS PROGRAMS SUCH AS NANHI
KALI FOCUSING ON GIRL EDUCATION, MAHINDRA PRIDE
SCHOOLS FOR INDUSTRIAL TRAINING, AND LIFELINE
EXPRESS FOR HEALTHCARE SERVICES IN REMOTE AREAS.
