Mechanisms are being designed especially in emerging markets for measuring

Mechanisms are being designed especially in emerging

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Mechanisms are being designed especially in emerging markets for measuring, documenting and communicating these qualities thereby saving time, work and costs in the purchasing process. SOCIAL RESPONSIBILITY AND ETHICS Internal Dimension
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Adaptation to Change: A recent trend in the global business scenario has been the wide spread use of mergers and acquisitions for business expansion. Also downsizing has been used, often ineffectively, as a cost cutting measure by firms in their relentless push for profits. Management of Environmental Impacts: Firms must manage the environmental impacts of their activities by ensuring resources are utilised optimally and environmentally-damaging emissions are reduced. Many firms in emerging markets have had to face serious repercussions from the state and society for over exploitation of natural resources and disregard for environmental safety measures. SOCIAL RESPONSIBILITY AND ETHICS Internal Dimension
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External Dimension This dimension relates to practices concerning external stakeholders. The significance of this dimension of CSR has come to the forefront with the advent of globalisation leading to the development of international standards for business practices. The various components of the external dimension of CSR are shown in the figure below: SOCIAL RESPONSIBILITY AND ETHICS Dimensions of CSR and Relevance for Emerging Markets
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Local Communities: The development of positive relations with the local community, thereby, the accumulation of social capital, is particularly relevant for non-local companies. These relations are being increasingly used by multinational companies to support the integration of their subsidiaries into various markets in which they are present. Deep understanding of the local community and social customs is an asset which can be utilised by the companies to gain strategic advantage. In emerging markets, this is more relevant than ever because of the availability of cheaper labour from the local communities. SOCIAL RESPONSIBILITY AND ETHICS External Dimension
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Human Rights: According to Robbins (2000), “Companies operating in countries where human rights are regularly violated may experience a climate of civil instability and corruption that makes for uneasy relations with government officials, employees, local communities and shareholders. Amnesty International states: “Companies have a direct responsibility to ensure the protection of human rights in their own operations. They also have a responsibility to use their influence to mitigate the violation of human rights by governments, the forces of law and order or opposition groups in the countries in which they operate. SOCIAL RESPONSIBILITY AND ETHICS External Dimension
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Corporate Social Responsibility in Ghana
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  • Fall '18
  • DR MAAME ADWOA GYEKYE JANDO
  • Business Ethics, Corporate social responsibility, corporate social marketing

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