CSR and Partnership: Issues of Lack of Transparency in Corporate Governance

This presentation discusses the concept of CSR and the issues faced by Aston Martin due to lack of transparency in corporate governance. It explores the impact of these issues and provides recommendations to overcome them and fulfill CSR responsibilities.

CSR and Partnership
INTRODUCTION
Abstract: The current poster is based on the topic of issues faced by an
organisation which are associated with the lack of transparency in Corporate
Governance. Thus, a study is conducted to develop better understanding about
the concept of CSR along with evaluating the impact lead by above stated issue.
For that purpose, a secondary evaluation is lead out which comprises analysis of
various online article and journals to develop better awareness about selected
topic.
Introduction: Corporate social responsibility is mainly associated with the
management concept that aim at setting a balance and integrating social and
environmental concern with the business operations in order to meet the
expectation and desires of its stakeholders along with overall society and
environment. The current assignment is based on Aston martin that is well known
automotive organisation deals in manufacturing of luxury cars and other vehicles.
This particular research project is focused on the issues faced by a company
while managing and leading its CSR which comprises of lack of transparency in
its corporate governance which create many challenge and drawback for a
company.
Hypothesis (Aim):The main aim associated with current research poster is, “To
review about the concept of CSR along with the main issues faced due to lack of
transparency in Corporate Governance of an organisation”. A research project on
Aston Martin.
Objectives/Purpose: The main objective set out for current research project
are listed as follows:
To evaluate about the concept of CSR and its importance for Automotive
Industry.
To determine the impact of issues faced by Aston Martin due to lack of
transparency in its Corporate Governance.
To investigate about the better ways that can be adopted by Aston Martin to
overcome the issues of lack of transparency in corporate governance to fulfil its
CSR in a better way.
Methodology and Models
This section of current research poster comprises of discussion about the
main research methods and techniques used for leading out current investigation and
study. To lead better adoption of research methods and suitable models implication of
research onion is made a discussion and evaluation of which is provided below:
Research Philosophy- it being the first layer of research onion that is
basically divided and bifurcated into four main parts consists of positivism,
Interpretivism, realism and pragmatism. With respect to nature of current investigation
use of interpretivism philosophy is made as it lead to better support for qualitative and
theoretical nature of information and also allows better evaluation of set objectives.
Research approach- it is mainly of two types comprises of deductive and
inductive form of research approach. In accordance with set objectives and hypothesis
for current research poster, implication and use of inductive approach is more suitable
and justifiable as it provide better scanning and analysis of theoretical and in-depth
form of information for better accomplishment of desired objectives.
Literature review (analysis)
Yakovleva, N., 2017. Corporate social responsibility in the
mining industries. Routledge.
Jamali, D. and Karam, C., 2018. Corporate social
responsibility in developing countries as an emerging
field of study. International Journal of Management
Reviews. 20(1). pp.32-61.
Online
YatinPawar. 2017. 5 Effective Ways To Bring Transparency
In The Workplace. [Online]. Available through:
<https://upraise.io/blog/5-ways-bring-transparency-
workplace/>.
OUTCOMES
Conclusion
With respect to current research project a conclusion can be made that
the concept of CSR is vital for business organisation as it lead to more
ethical practises and consideration to meet expectations and desires of
shareholders along with overall society and environment. Further, it has
been also summarised that complexity in decision making and
reduction in loyalty of stakeholders is lead by lack of transparency in
corporate governance. Finally, it has been concluded that adoption of
effective communication along with an independent audit committee
lards to a more transparent corporatize governance to meet the CSR of
a company
Recommendations
On the basis of current research project following recommendations
could be made for Aston martin to overcome the issues of lack of
transparency in corporate governance to fulfil its CSR in a better way:
Adoption of effective communication is highly recommended for Aston Martin
as it lead to more clarity and enhance transparency at workplace by
manes of enhanced discussion and interaction.
Formation of independent audit committee is also suggested for Aston martin as
it lead to better check and monitoring over work of boards of directors
which facilitates and ensures more ethical operation and also improve
transparency in corporate governance.
Implications
The main implication of current research project comprises of analysis
of impact lead by issue of lack of transparency in corporate governance
on the overall business operation and profitability of Aston martin. It
has been implicated that the lack of transparency hampers the decision
making process and also leads to reduction of customer loyalty and
hampers concomitant level of shareholder as they are unaware about
the vital information. Thus, a reduction in profitability along with
increased chances of accounting frauds and unethical business conduct
are lead by lack of transparency in corporate governance.
To evaluate about the concept of CSR and its importance for Automotive
Industry
As per the view point ofJamali, D. and Karam, C., 2018, , the
concept of CSR is associated with the ways and efforts that are adopted by
companies while managing their business operation and process to lead a overall
positive impact on society and overall environment. Thus, CSR is a self
regulating model that is used by an organisation to set a balance and coordination
between demands and desires of its stakeholders along with meeting expectation
of overall society and environment. In automotive sector, the implication of CSR
comprises of operating their business activities in such a way that enhance value
for society and at the same time contributes for prevention and conservation of
environment. For instance, the e-vehicles launched by Aston martin is having a
aim to reduce carbon emission and providing a much healthy and positive
atmosphere for society.
To determine the impact of issues faced by Aston Martin due to lack of
transparency in its Corporate Governance.
The concept of CSR comprises of having an efficient Corporate
governance which is based on ethics and consists of all the rules and processes
according to which businesses are operated and controlled. With respect to the
information provided by the GáborSzalay, 2019, it has been evaluated that the
main issues which are faced by an organisation that arise in their corporate
governance comprises of conflicts of interest, accountability issues, oversight
issues, lack of transparency and ethic violation. It has been evaluated that the
lack of transparency in corporate governance is faced by Aston martin which has
lead to many issues for this organisation comprises of evidence that its major
shareholders are not properly informed and many difficulty and complexity are
also faced in decision making process.
Further, this lack of transparency in corporate governance also leads to many
accounting errors and frauds which understate the share of Aston martin which
has caused huge losses. Thus, an evaluation can be made that lack of
transparency in corporate governance is a big issues for an organisation that
hampers its brand image and customer loyalty as lards to lack of information
which enhance the chances of error and frauds along with difficulty in decision
making.
To investigate about the better ways that can be adopted by Aston Martin to
overcome the issues of lack of transparency in corporate governance to fulfil
its CSR in a better way.
According to the information provided by YatinPawar, 2017, to
ensures a positive working environment and fulfil its CSR responsibility it is
vital for a firm to bring transparency and clarity in its decision making and
strategy formulation that is associate with overcoming the issues of lack of
transparency in corporate governance. The best way that could be adopted by
Aston Martin to bring transparency in its corporate governance comprises of
leading better communication and interaction among all stakeholders so that
better decision and more transparent decisions can be made. Leading regular
board meeting and monitoring work of boards members along with timely
communication of strategies are vital ways to bring transparency in corporate
governance. Further formation of independent audit committee is also a viable
way to keep a check on business operations and bring transparency in corporate
governance. Further, regular audit also ensures a more ethical and prominent way
of operations to fulfil and meet CSR responsibility by Aston martin in order to
overcome the issues of lack of transparency in corporate governance.
Results
The main outcomes and result of current investigation comprises of
better understanding about the concept of CSR which is model used by business
organisation to set a balance between interest of its stakeholders and overall
society. Further, it has been also find out that difficulty in decision making and
reduce profit along with reduction of customer loyalty is lead by issue of lack of
transparency in corporate governance. Further, the result of current poster also
comprise of evaluation of effective communication and independent audit
committee as a way to overcome the issue of lack of transparency in corporate
governance..