Nowadays, the employment of ethical principles and standards to the decision and actions of business organizations-better known as Business ethics- is a crucial issue for its strategic management; businesses are expected to have a formal code of ethics or policy that encourages corporate environmental sustainability. To do so, businesses have used different frameworks such as the eco-efficiency, natural step, triple bottom line, ecological footprint and so on, in fact, along with the TBL approach the CSR programs are the most commonly used, it is defined as the “management of stakeholder concern for responsible and irresponsible acts related to environmental, ethical and social phenomena in a way that creates corporate benefit” (Vaaland et al., 2008, p. 931), and can help business to display a more congruent and coherent identity that consequently will lead to enduring and substantial relationships with stakeholders. …show more content…
As mentioned in the case study, Samsung has won many awards within the industry; in 2009 received the first carbon footprint reduction label for a LED TV, a note PC and a memory chip product, the Galaxy SII smartphone and Galaxy Note also became the first product in their category to receive a Carbon Footprint label issued by the Carbon Trust, in 2011 received the ISO 50001 certification for some facilities in Korea, along with the ISO14001 and OHSAS 18001 certifications, in 2012 received the Eco Design awards at the Consumer Electronics Show (CES), moreover, the company received the Energy Star Partner of the Year Award by U.S. Environmental Protection Agency (EPA) and the recognition of China Europe International Business School (CEBIS) as one of the 100 green foreign companies operating in China. Now, the question is why is Samsung pursuing these recognitions and awards? How are these related to the company’s’
Jazz is a genre of music that originated in African American communities in the United States in the late 19th and early 20th century. The Jazz Era was a big deal throughout 1915 to 1935. Jazz was brought up in many different ways. There was many jazz artist who contributed to the era such as Jelly Roll Morton, Joe King Oliver, Sidney Bechet, Louis Armstrong, and Duke Ellington. As the jazz era ended, some artists struggled and some continued on with fortune and fame.
“There are no ghosts in the paintings of Van Gogh, no visions, no hallucinations. This is the torrid truth of the sun at two o’clock in the afternoon.” This quote that Antonin Artraud, stated from, Van Gogh, the Man Suicided by Society, explains the way in which Van Gogh approached his artwork. He believed in the dry truth and as a result his work was remarkably straightforward in the messages that he portrayed. While visiting Paris, France this past April, I was fortunate enough to have visited Musée d’Orsay, a museum that contains mostly French art from 1848-1914 and houses a large collection of impressionist and post-impressionist masterpieces and 19th century works from the Louvre [The Oxford Companion to Western Art]. I was also
Corporate Social responsibility (CSR) has been viewed in different ways by different school of thoughts; some see it has a voluntary initiative, while others think it’s a main part of every company’s structure and even an opportunity to improve brand. For this work, we would take the position of the later argument. It is simply giving back to the environment that you gain from. It involves protection of the environment, development of quality of the occupants of the environment and improving their quality of life. Like Barnard (1938), it is analyzing the social, economic, moral, legal and physical aspects of the environment.
Once a business realizes that it has gotten wrapped up in maximizing profit that it neglect ethics of care, the next step is to readjust and realign its core values internally and be more responsible to the environment in which they operate by showing societal care. Therefore, the aim of this report is to address the importance of realigning the business with ethics of care through involving in CSR activities, and as well as showing how these actions can impact on a company’s performance even if it may be demoralized in the society.
However, today, the focus on stakeholder’s (apart from the shareholders, these are customers, suppliers and employees) expectations has also grown radically. Accordingly, ethical behaviours such as meeting stakeholders’ expectation objectives, environmental objectives and corporate social responsibility, which is accountability to the society and social responsibility, have resultantly become very important. Failure to comply with ethical behaviours can causes a business to damage its brand value and its reputation, which in turn could lead to reduced profits or even losses (Carroll and Buchholtz, 2014).
In recent years, increasing number of customers and businessmen start to concern about the ethical issues in businesses. Although the main purpose of business is to make profits, the social influence of it also appears to be focused by a large proportion of customers and businessmen. Corporate social responsibility (CSR), which is closely connected with this concentration, was put forward in 1953 with the meaning of interacting social, environmental, and economic considerations into the decision-making structures and processes of business (Industry Canada, 2013). Although criticized, there is a business case for CSR because it could enhance customers’ loyalty, improve
The appointment of Yun Jong Yong as president and CEO of Samsung in 1996 was symbolic to the beginning of the organizations transition from its previous business level strategy of cost-leadership to its now successful implementation of differentiation. Before refocusing the direction of Samsung’s strategy it was originally making most of it’s profits producing lower-priced appliances that cost-conscious consumers were more likely to pick up if they couldn’t afford a higher priced brand (i.e. Sony or Mitsubishi). Also during that time Samsung has established itself as a low-cost supplier of various components to larger and better-known manufactures around the world. Although the organization was profitable at the time the over-all cost leadership strategy implemented by Samsung was positioned to be vulnerable to future external threats that could send the company belly-up.
Based on the articles that I’ve read up on , I’m going to talk about Samsung . Samsung is one of the world’s largest information technology company which has a very powerful influence on South Korea’s economic development . Samsung company produces some goods like , TV , Phone , computer and more . One of Samsung’s most successful products are its smartphones which has significantly dominated the world’s mobile phone industry . Samsung is currently one of the best smartphone in the market . Samsung electronic was found and made in 1969 as a unit of Samsung group . The unit was set up as a method for getting Samsung into the advance TV and customer hardware industries . By 1980 , samsung was assembling , transporting , and offering variety
Ethics and the environmental responsibilities of companies tie directly into those of social responsibilities and occupy a very important position in both incorporating into strategic plans and the company’s value system. In this paper, the subject to describe is how the role of ethics and social responsibility is developed into a company’s strategic plan; this will enclose an example of how Enron initiated an overstepping of these ethical boundaries. The paper will also describe the internal and external environments of how Google, Amazon, and Microsoft using an environmental scan. Included in the scan will be a determination of the competitive advantages each
‘Corporate social responsibility’ (CSR) means that the firm has wider responsibilities in relation to objectives and people apart from the owners or shareholders (Beal and Goyen 2005). These responsibilities are achieved when the firm adapts all of its practices to ensure that it operates in ways that meet, or exceed, the ethical, legal, commercial and public expectations that society has of business. Objectives often associated with CSR include a responsibility to manage natural assets sustainably and not to pollute by chemical discharge, smell, noise, dust or other irritants; fair treatment of employees and ethical attitude towards clients. The other people include employees, customers, suppliers,
This research is compiled to explain how good ethical practices and good values in business can yield sustainability within the business and the society as a whole and in order to do this the concept of ethical business practice and values have to be understood.
The term ethics involves understanding and defending of what is right and what is wrong.
Company Background: Samsung is a South Korean multinational company those starting its business as a small trading company and right now becoming world largest corporation. The company deals with its business in several sectors such as advance technology, finance, petrochemical, semiconductors, plant construction, skyscraper, medicine, fashion, hotels, chemical and others. The company was established in 1969 in Suwon, South Korea and known globally for its electronic products (Kelly, 2011). The company is manufacturing several latest technologies, electronic appliances such as mobile phones, tablets, laptops, TVs, refrigerators, air conditioners, washers and other products. The company runs its operations and sales its products in 61 countries with approx 160,000 employees in all over the world (SAMSUNG, 2014). Moreover, the company acquired the position of the world biggest IT maker in 2009 by beating the Hewlett-Packard (HP) previous leader. Its sales revenue in the segment of LCD and LED is the highest in the world. Furthermore, Samsung also becomes world leader in the segment of tablets, mobile phones and gadgets.
It is a known fact that Denmark’s firms have the best ethical behavior. Some of the Denmark’s well know global corporate leaders are Novozymes, Novo Nordisk, Maersk, Carlsberg, Vestas and Dong energy. All of these companies have taken a lead in CSR and incorporating circular economy, cradle to cradle concept. The definition of CSR has evolved. Companies use to integrate social and environmental issues in their business on a voluntary basis. In recent years it is becoming more of a responsibility of every company to identify, prevent and mitigate the possible adverse impacts of their businesses on the society. While
Instead, it is important to examine the possible routes, mechanism, and solutions to guide businesses to integrate its economic growth, managerial responsibilities, social and environmental negative impacts in an integrated framework of responsive liability, avoiding decisions lightly. Moreover, it's necessary to go through the real company intentions and reasons to structured corporate social responsibility (CSR) as companies value because it is growing the number of businesses that use this initiative as a strategy to alleviate pressures or avoiding governmental regulations or stakeholders demands (Küpers,