Contemporary Developments in Business and Management Doc

Contemporary Developments
in Business and Management

Table of Contents
INTRODUCTION...........................................................................................................................1
TASK 1............................................................................................................................................1
Political Influence.......................................................................................................................1
Economical influences................................................................................................................2
Social...........................................................................................................................................3
Technological..............................................................................................................................3
Legal influence............................................................................................................................4
Environmental.............................................................................................................................4
TASK 2 ...........................................................................................................................................4
i) Relevance of ethics and CSR to Standard Chartered bank and their impact on policies and
decision making process.............................................................................................................4
ii) Effectiveness of organisational response................................................................................8
(iii) Areas of improvement as a response..................................................................................10
CONCLUSION..............................................................................................................................12
REFERENCES..............................................................................................................................13

INTRODUCTION
There are certain changes which are taking place rapidly within business organisation and
different issues are being faced by multinational companies while conducting their operations in
an effective manner. But along with that they are seeking out for platform of opportunities which
can be exploited by making effective strategies and implementing them (Abuznaid, 2017). In this
report, company chosen is Standard Chartered bank who is mainly dealing in banking and
financial service industry. This bank was established by James Wilson in 1853 and it is mainly
dealing in Australia, China and India. There are certain things which will be discussed in this
report like external factors which will directly affect the working environment of Standard
Chartered. Moreover, essential elements which are related to external factors will also be
discussed. The theme of this project is Ethics and CSR activities. Another essential element of
this kind of assignment will be the response which is given by an organisation where the issues
are being faced which are related to ethics.
TASK 1
Standard Chartered is one of the leading bank in financial and insurance sector. At their
initial stages, this business has limited reach and they were not present in many nations. There
business expanded when the under developed and developing countries started accepting the
foreign investment and thus due to that many multinational companies got opportunities to
acquire the market and thus attain profit for the long terms effect (Orlitzky, Siegel and Waldman,
2011). Most of the internal issues can be resolved by an enterprise which are raised within
workplace but there is no control on various external factors which can create either positive or
negative impacts on the performance level of an organisation. Below described are the elements
and their importance are mentioned below:
Political Influence
In many continents, Standard Chartered is providing their services and this has to be
make sure that money which is being invested in a country should have better political stability.
There is major issue, like in India Govt. changes with time and thus due to that variations can be
seen in the policies which are related to banking sector like increment in bank rate, procedure of
taking loan and many more (Banerjee, 2012). There are various changes which a company like
1