(PDF) Importance of corporate social responsibility

Added on - 21 Feb 2021

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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1COMPONENT 2: Individual Report...............................................................................................11. Analysis of the organization and identifying key issue faced by the company in relevancewith Management theory............................................................................................................12. Importance of CSR in relation with strategy...........................................................................23. Influence of Brexit on organization........................................................................................24. Reflection, benefits and challenges on team working.............................................................3CONCLUSION................................................................................................................................3REFERENCES................................................................................................................................4
INTRODUCTIONThis study will highlight, key issues faced by the organization with reference tomanagement theory. It will also examine CSR practice with strategy. Furthermore, this reporthighlights, Influence of Brexit on organization. Lastly it includes, benefits and challenges onteam work.COMPONENT 2: Individual Report1. Analysis of the organization and identifying key issue faced by the company in relevance withManagement theory.Ikea is one of the Swedish Multinational private retail company which was founded in theyear 1943 by Ingvar Kamprad. Ikea company mainly deals in furniture products, kitchenappliances, home appliances home- ware, ready to assemble furniture. Ikea company focuses onexpanding its business all across the globe in order to reach more customers by generating higherprofits.The key issue faced by the company is that it faces various cultural issue which largelyaffect the growth and development of the Ikea company (Shafritz, Ott and Jang, 2015). Everyindividual has different beliefs, democracy, religion which makes it difficult for the company totake into consideration all demographics. Every country has different culture which makes itdifficult for Ikea for future growth and success.Management theory is a set of specific guidelines which focuses on assisting employeesin delivering best results in order to reach greater heights.Behavioural management theory:This is an effective theory which helps in maintainingeffective human relations with the customers by understanding each other culture, demographics,belief, attitude, etc. in order to attain higher performance and productivity in an efficient andviable manner (Bratton and Gold, 2017). Ikea should have a clear and in- depth understanding ofthe local culture within which it's going to establish or has established a business for smoothfunctioning. Application of this theory helps in better understanding of each employee and betterequal opportunity in the Ikea which helps in mitigating cultural difference and also leads toimproved productivity.1
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