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Assignment Business Management

5 Pages1622 Words59 Views
   

Added on  2020-05-01

Assignment Business Management

   Added on 2020-05-01

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Running head: Management Management
Assignment Business Management_1
Management Introduction The essay talks about the socially responsible business. It explains that how shareholdersand stakeholders play a significant role to increase and maximize the profit and revenue of thefirm. It describes the triple bottom line model to create shared value and to sustain competitivebenefits in the market. Socially responsible business The socially responsible business is an ethical moral framework which advices to anassociation and individual to do work for providing various advantages to the community acrossthe world. It is the responsibility and obligation of each and every individual to do task andduties effectively and efficiently for maintaining a stability of the ecosystems and country. Thesocially responsible business plays a critical role in every business to run the business smoothly.The main aim of the socially responsible business is to maximize the profit and revenue of theshareholders (Baumann-Pauly, Wickert, Spence & Scherer, 2013). It is the profit-oriented and itdetermines the sustainability of the company as well as the environment. It plays a significantrole in CSR and sustainability. It makes positive and favorable contributions to gain long-termmission and vision of the firm and it helps to minimize the harmful effects. It helps to maintain along-term relationship with society. It also helps to create a good working environment withinthe organization and it maintains a unique and effective culture in the organization. It ismandatory for every organization to understand and evaluate the social norms, rules, standards,cultures and business practices of the specific environment. The socially responsible business isalso known as the corporate social responsibility. Along with this, CSR is an effective businessapproach that contributes to sustainable enlargement and development by rendering varioustypes of environmental, social and economic benefits to the stakeholders (Homburg, Stierl &Bornemann, 2013). Let’s talk about an example; Target Corporation is a good example of sociallyresponsible business. It is one of the biggest discount store retailers in the United States. Thecompany makes an effective and positive contribution for protecting the environment as well ascommunities. Further, various sustainable practices are being carried by the company. Starbucksis another most important socially responsible company. The company maintains sustainability2
Assignment Business Management_2

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