Research Proposal on Working Capital Management

5294 WordsMar 2, 201322 Pages
The role of business in society NEW GROUND RULES OF GLOBALISATION Communication is becoming more widespread and reaching even further. Telephony, the Internet and e-mail, and satellites that transmit TV broadcasts all over the world are all helping to facilitate contact between people and provide instantaneous information from absolutely anywhere in the world. Inventions and medical breakthroughs which enhance the quality of life and lengthen the lives of many people are also becoming more widespread, more quickly than ever before. Countries and people have become entwined, mutually dependent. And together we face a number of challenges. Together, we have to tackle environmental problems, poverty and terrorism. Paradoxically, this also…show more content…
For a company to progress and develop, it must nurture relations with its stakeholders, of which there may be many. Some have a strong influence and are of fundamental importance to the survival of the company: these include employees, customers and suppliers. The media, authorities, trade unions and local residents are other stakeholders with a wideranging influence. GOOD RELATIONS LEAD TO PROFITABILITY The long-term survival of companies is partly dependent on maintaining relationships of trust. Deterioration of such relationships will jeopardise the ongoing development of the company. Experience shows that companies with an international outlook, which are open and adopt the long-term approach, are often best at maintaining relationships and hence at developing their operations. The ability to constantly go on improving products and processes is a basic prerequisite. Companies that want to keep developing have to be receptive to signals from and opinions expressed by the market, staff and the general public. Now that more and more customers – and stakeholders as well – are making demands of companies’ ethical, social and environmental awareness, it is also natural for companies to be receptive to these issues and actively use them in their operations. Society’s values and current levels of knowledge
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