companies were only expected to focus on profit

companies were only expected to focus on profit -...

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companies were only expected to focus on profit. Profit isn't enough. Shareholders, employees, governments, communities expect businesses today to add value as members of the wider community in which they operate. Businesses need to think strategically about corporate social responsibility. Where should the company focus its attention? Where can it most effectively apply its resources where benefits can be gained on all sides? A major challenge for enterprises today is to attract and retain skilled workers. s. In this context, relevant measures could include lifelong learning, empowerment of employees, better information throughout the company, better balance between work, family, and leisure, greater work force diversity, equal pay and career prospects for women, profit-sharing and concern for employability as well as job security. This is a direct result of pride in the company's products and practices, which improving human resources practices, such as
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Unformatted text preview: “family-friendly policies. Thus, employees who work for socially responsible companies tend to be highly motivated in their jobs. The reasons are mainly because the satisfaction in knowing that working for an organization that has the greater good of society and the employer are able to treat the workers fairly. Thus, it will bring another benefit which is producing quality and productivity increased as when an employee is motivated at work Enhance brand image and reputation. With regard to CSR, any business organizations that perform well can build reputation, while, those companies within CSR may damage the brand and company value. This is because CSR is one of the ways to improve reputation, or brand equity, through values such as trust, credibility, reliability, quality and consistency to spread good will of their brand name in the market...
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This note was uploaded on 06/17/2011 for the course ECON 101 taught by Professor Mrpalm during the Spring '11 term at Central Oregon Community College.

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