Discourses about Righting the Business-Society Relationship
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Added on 2023/04/23
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This review discusses the relationship between business and society, the importance of social responsibility, and the impact of discourses on this relationship. It also includes a conceptual framework, research methodology, and findings.
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Running head: MANAGEMENT Source: Fyke, J. P., Feldner, S. B., & May, S. K. (2016). Discourses about righting the business←→ society relationship.Business and Society Review,121(2), 217-245. Quantitative critical review Problem statement The statement of problem defines the issues based on the relationship between the businessandsocietyandthusoftenthecomplimentaryrelationshipcontradictedthe interrogative relationship. From various evidences, it has been found that the business put efforts to meet the demands and expectations of the society, though the traditionalism approach affects the innovation process, thereby contributing to the management of human resources by attracting more clients as well. The corporate social responsibilities are also hindered with the management of inappropriate knowledge management strategies that can also make the business create a negative impact on the society as well. “We need business to understand its social responsibility, that the main task and objective for a business is not to generate extra income and to become rich and transfer the money abroad, but to look and evaluate what a businessman has done for the country, for the people, on whose account he or she” – Vladimir Putin Importance of the study The significance of the research is to let people become aware of the approaches towards management of social responsibilities. This will assist I understanding the concepts ofsocialentrepreneurshipandcapitalismtoo.Theidentificationofmajorbusiness stakeholdersisessentialalongwiththecateringoftheirneeds,demandsandsocial preferences for assisting the exemplars and discourses to create new scopes for sustaining in the future as well as benefit the community as a whole. The critical thinking process will be improved, which can also be helpful for the effective strategic planning in the future as well. Approach of the author towards the research gaps During the beginning stages, the existing relationship between business and society wasidentifiedandalsothegapsidentifiedduringthebusinesssocietyrelationship management. The discourses are identified to determine the relationships while the author also focused on the uniqueness, attractiveness, developmental factors and issues that assist the business to put efforts for the wellbeing of the society. The existing traditionalism is identified, which has been a major flaw in the aspect of business society relationship. The
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2 MANAGEMENT development of loyalty programs can though reflect the author’s ability to resolve these issues and ensure proper communication too. Research question What are the discourses, which relates business and societal relationship? What role does business play in the society? What role does multinational corporations have on enforcing theprogressive or regressive force within the society? How are the multinational corporations responsible for ensuring the development of the other sectors ofhealth, education, arts, culture and others? Conceptual framework The conceptual framework is developed with the purpose of linking the business concepts and society through management of changes and understand the needs of people by enabling changes with the adoption of Lewis Change Model Figure 1: Conceptual framework for business-society relationship (Source: Created by the author) The perspectives and voices links business and society. Within this, 3c model has been infused in terms of mapping the approach of the corporations towards acquiring the trust, loyalty and dependence from the customers. Here, the main focus is on the behavioural tendencies towards coping up with the external pressures from the contemporaries. Business and societyDiscourses drivers/influencers for change Assumptions interactions with the stakeholder groups-proves beneficial for gaining an insight into their specific needs, demands and requirements Approaches adoptting Lewis Change Model
3 MANAGEMENT Discoursestowards corporate social responsibility has been equalized with the aspect of legitimizing the business practices. Drivers/influencers for engaging into corporate social responsibility includes: Response to the stakeholder influence Reaction towards monitoring process Attempts towards improve reputation and customer satisfaction Developing norms, which aligns with the company’s values Core assumptions and defining featureshave evolved with the assumptions that the role of businesses extend beyond catering to the needs, demands and requirements of the shareholders.AccordingtotheopinionsofSwanson,(2018),thisincludesobligatory approachtowardscateringtotheinterestoftheconsumers,employees,government, environment and the public. One of the key assumptions in this direction is that corporations not only provide quality goods and services, instead, they address the legal, ethical and discretionary expenses of the society. Approachesand exemplarstowardscorporatesocialresponsibilitiesextendsto the concept of corporate philanthropy, volunteerism, cause related marketing and focus on community development. One of the other discourses of corporate social responsibility is relocating the business practices. Here, the drivers are the social problems, with the assumption that intentional programs helps in establishing values for the entrepreneurs, which seeks to set values by venturing into the market. In this, the perspective attached is reflected through the use of the term “citizenship sector”, used for depicting the million groups, who intend to address the critical needs of the public. Hypothesis H0 Business and society are not interrelated with each other H1 Business and society are interrelated with each other The article does not directly establish the author’s relationship with the topic. However, through the analysis of the data, the author attempts to add new feature to the discourses on corporate social responsibility in case of the corporations.Incorporation of Lewis’ change management model adds value to the positive hypothesis. As a matter of
4 MANAGEMENT specification, these theoretical considerations establishes links between the business of the multinational corporations and the wellbeing of the society. Research methodology Samples and context for the study The author takes into consideration various discourses, assumptions, approaches and exemplars for excavating the relationship between business and society. Therefore, the sample size can be set as3 managers of multinational corporations, who have planned to introduce loyalty cards for strengthening the customer base. The sampling technique used is probability basisin terms of measuring the approaches of the managers towards the ways and means of introducing loyalty cards in terms of financial flexibility.The context within this is re-establishment of the business practices for shedding light into the role of businesses towards catering to the interests of the public. Methods for conducting the study Quantitative method is used for conducting the study. As a matter of specification, interview is conducted on three managers of multinational corporations. Their awareness towards the current trends and issues in corporate social responsibility have been considered for preparing the interview questions. Along with this, discourses are taken into consideration by the author in terms of projecting the relationship between business and society. Through the discourses, the assumptions of the common public is investigated, which helps in excavating the gaps within this relationship. These assumptions, further, assists in shedding light on the perspectives of the business towards corporate social responsibility. Combination of sample and design in the methodology The responses of the managers relate with the drivers/influencers, which gives rise to various perspectives regarding the interrelationship between business and society. These perspectives results in the formation of various perspectives regarding the enhancement of corporate social responsibility. The responses of the managers proves effective for the researcher in terms of incorporatingLewis’ Change Management Modelfor acquiring the required changes according to the urgency. Data analysis Findings of the study
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5 MANAGEMENT The study reveals the discourses related to the relationship between business and society. These discourses, in turn, led to various perspectives regarding the corporate social responsibility. One of an important aspect in this direction are the approaches towards ensuring the wellbeing of the society people. Within the approaches, mention can be made of adopting Lewis’ Change Management Model in terms of upgrading the customer services. Consciousness and rationality towards conducting need analysis before considering the theory. Involving the stakeholders and shareholders relate to the aspect of considering key voices for altering the workplace conditions. Approach of the author towards interpreting the findings Quantitative analysis has been used for analysing the collected data. This is in terms of adding relevancy within the assumptions. The responses of the managers of multinational corporations, regarding the introduction of loyalty programs, has been analysed through the means of charts, tables and graphs. Along with this, scholarly reviews and themes related to the discourses on business-society relationship, have been considered for interpreting relevant details from the responses of the samples. Impact of the discourses on business society relationship Analysing the social discourses proves beneficial for achieving understanding about the key voices, which shapes the business-society relationship. This analysis is an agent in terms of discussing the implications of this relationship on the societal wellbeing. Theoretical consideration towards acquiring change Infusion of 3c model and journey mapping would be beneficial in terms of scaling the public relations in an ambience of competition within the market. These techniques are assistanceintermsofdevelopingstrategiesforcomingupwithinnovativesolutions regarding acquiring changes for ensuring the wellbeing of the clients and the customers. Conclusion According to the responses of the managers of multinational corporations, it can be concluded that change is needed in the strategic approach towards enhancing the parameter of corporate social responsibility. Infusion of theories within the business operations relate to the drivers/influencers for enhancing the stability in the relationship with the stakeholders and shareholders.Thisinfusion helpstheresearcherto takestanceregardingthepositive hypothesis, negating the null one.
6 MANAGEMENT Comments and criticisms The research started with the questions regarding the relationship between business and society. However, I felt that considering the response of the samples answers this question. Within this, I can relate Lewis Change Management Model, which enhances the awareness regarding the urgency and context for adopting the change. I felt that consideration of this urgency proved beneficial for preparing the interview questions for the managers of multinational corporations. Within this, wide ranging discourses, approaches and exemplars regarding the enhancement of corporate social responsibility. According to me, synthesis of the ideas from conceptual framework, sample responses and the discourses has enabled the researchertoconcludethatchangemanagementestablishescruciallinksbetweenthe variables of “business” and “society”.