Management for International Journal of Business - myassignmenthelp

Question: Discuss about the Management forInternational Journal of Business. Answer: Introduction The essay talks about the socially responsible business. It explains that how shareholders and stakeholders play a significant role to increase and maximize the profit and revenue of the firm. It describes the triple bottom line model to create shared value and to sustain competitive benefits in the market. Socially responsible business The socially responsible business is an ethical moral framework which advices to an association and individual to do work for providing various advantages to the community across the world. It is the responsibility and obligation of each and every individual to do task and duties effectively and efficiently for maintaining a stability of the ecosystems and country. The socially 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 the shareholders (Baumann-Pauly, Wickert, Spence Scherer, 2013). It is the profit-oriented and it determines the sustainability of the company as well as the environment. It plays a significant role in CSR and sustainability. It makes positive and favorable contributions to gain long-term mission and vision of the firm and it helps to minimize the harmful effects. It helps to maintain a long-term relationship with society. It also helps to create a good working environment within the organization and it maintains a unique and effective culture in the organization. It is mandatory for every organization to understand and evaluate the social norms, rules, standards, cultures and business practices of the specific environment. The socially responsible business is also known as the corporate social responsibility. Along with this, CSR is an effective business approach that contributes to sustainable enlargement and development by rendering various types of environmental, social and economic benefits to the stakeholders (Homburg, Stierl Bornemann, 2013). Lets talk about an example; Target Corporation is a good example of socially responsible business. It is one of the biggest discount store retailers in the United States. The company makes an effective and positive contribution for protecting the environment as well as communities. Further, various sustainable practices are being carried by the company. Starbucks is another most important socially responsible company. The company maintains sustainability while providing coffee products to the customers in the market across the world (Cavusgil, Knight, Riesenberger, Rammal Rose, 2014). By using CSR approach, the company also supports Ethos water that provides clean and pure water to people around the world. Further, Microsoft is another biggest company who maintains sustainability at the workplace. The company is the best example of corporate social responsibility which is maintaining a good image in the market across the world. Apart from these companies, Nuskin company is a persona l care organization which focuses on the communities across the world. It is the one of the largest company who makes contributions in CSR and sustainability (Korschun, Bhattacharya Swain, 2014). Many companies are giving contribution in corporate social responsibility and sustainability by providing satisfaction to the various customers across the world. CSR helps to improve the financial performance of the company and it evaluates and determines the growth and success of the company. It also helps to maintain and build good relations with customers across the world. It builds and develops loyalty, dignity, and honesty among the customers in the market. CSR is an effective approach to attract more talent and retain more employees around the world. It builds and develops reputation and goodwill of the company (Fontaine, 2013). Role of stakeholders, shareholders and ethics Stakeholders, shareholders, and ethics play an integral and fundamental role in every organization in order to maximize the growth and success of the firm. Stakeholders are known as investors of the company who determines the results of the business by giving contribution in the decision-making process. They play a significant role in the decision-making process and direct management of the company. Stakeholders focus on the profitable products of the company and they sustain and maintain the success and growth of the company. They maintain transparency and flexibility in the organization (Niemuth, Hamann, Luschnat, Smolarz Golombek, 2014). Shareholders are called the owners of the company. They hold the share and stock of the firm to maximize the revenue and profits of the firm. Shareholders play an active role in corporate social responsibility and sustainability. They are responsible to attend the various meetings of the company. Shareholders provide consent on the important matters whenever required in the company. They help to minimize the cost of the company and increase the revenue of the firm. They maintain ultimate control over the company. In this way, they determine the progress of the firm (Mason Simmons, 2014). In addition, ethics are the rules and principles of behavior based on the in ideas and thoughts about what are right and wrong, what is good and bad. It is the area of study which deals with the good and bad behavior of the people. It plays a significant role to conduct the business activities and operations in an effective manner. It determines the code of conducts, rules, regulations, and standards for the business to carry the business operations in an appropriate manner. Further, business ethics provides guidance and direction to the employees, community, and organization. It evaluates and analyzes the morality and behavior of the people in order to reach the goals and objectives of the firm (Holland Albrecht, 2013). Triple bottom line model The triple bottom line plays a crucial and integral role to generate shared value and to gain competitive advantages in the market around the world. This model is used and implemented by the companies to run the business in an effective and appropriate manner. It is an accounting structure which divides into three parts include finical, social and environmental. It is the wider concept which is used by the companies to generate more revenue and profit within the organization. It also helps to measure and analyze the social responsibility of the company. In addition, many companies use this model to maintain and build sustainability in the environment. In todays era, the companies are using triple bottom line model to enhance and increase the performance and efficiency of the employees (Govindan, Khodaverdi Jafarian, 2013). Conclusion Now it can be said that stakeholders, shareholders are playing a major role in every company to run the business smoothly and effectively. In addition, business ethics are also essential for every organization to maintain norms, standards and code of conducts within the organization. Further, the company uses triple bottom line approach to achieve the goals and objectives of the firm. References Baumann-Pauly, D., Wickert, C., Spence, L. J., Scherer, A. G. (2013). Organizing corporate social responsibility in small and large firms: Size matters.Journal of Business Ethics,115(4), 693-705. Cavusgil, S. T., Knight, G., Riesenberger, J. R., Rammal, H. G., Rose, E. L. (2014).International business. Pearson Australia. Fontaine, M. (2013). Corporate social responsibility and sustainability: the new bottom line?.International Journal of Business and Social Science,4(4). Govindan, K., Khodaverdi, R., Jafarian, A. (2013). A fuzzy multi criteria approach for measuring sustainability performance of a supplier based on triple bottom line approach.Journal of Cleaner Production,47, 345-354. Holland, D., Albrecht, C. (2013). The worldwide academic field of business ethics: Scholars perceptions of the most important issues.Journal of business ethics,117(4), 777-788. Homburg, C., Stierl, M., Bornemann, T. (2013). Corporate social responsibility in business-to-business markets: how organizational customers account for supplier corporate social responsibility engagement.Journal of Marketing,77(6), 54-72. Korschun, D., Bhattacharya, C. B., Swain, S. D. (2014). Corporate social responsibility, customer orientation, and the job performance of frontline employees.Journal of Marketing,78(3), 20-37. Mason, C., Simmons, J. (2014). Embedding corporate social responsibility in corporate governance: A stakeholder systems approach.Journal of Business Ethics,119(1), 77-86. Niemuth, S., Hamann, L., Luschnat, K., Smolarz, P., Golombek, S. (2014). CSR in the Coffee Industry: Sustainability Issues at Nestl-Nespresso and Starbucks.Journal of European Management Public Affairs Studies,2(1), 31-36.