FY043 Global Business and Management Assignment Sample
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Introduction
Corporate Social Responsibility (CSR) is extremely significantly for society and organisation in the current globalised world, as for instance, labour conditions, taxation, and environmental challenges. While, a leader effectively procecutes work by assigning tasks, setting up goals, and keeping track of progress. In the study, I will demonstrate the explanation of CSR and leadership along with their contribution to my retail organisation.
Discussion
In the present era, CSR and leadership have a significant role in any firm or profession. CSR is considered as a management philosophy that encourages businesses to include environmental and social issues in their everyday operations as well as relationships with stakeholders (Velte 2021). In general, CSR is an effort of an institution in order to strike a balance between its commitments to environmental, economic, as well as social goals or objectives while considering the expectations of the stakeholders (sometimes it is considered as the Triple-Bottom-Line Approach) (Varyash et al. 2020). In this regard, I can consider that it is critical to make a distinction or difference between CSR, that could be a notion for strategic organisation management, and sponsorships, philanthropy, or charitable giving. Along with this, it can also reduce poverty and can improve a reputation of an enterprise and brand.
A well-executed CSR concept provides multiple competitive advantages, that comprise of improved access to markets and capital, enhanced profits, and sales, add up quality and productivity, operation cost savings, as well as an efficient human resource base (ElAlfy et al. 2020). From my point of view, it also improves brand image and reputation, increases customer loyalty, and improves decision-making as well as risk management processes. The ability to influence along with direct followers and rest members of an organisation is considered as a leadership (Cheong et al. 2019). Along with this, a leader’s responsibilities include making informed and occasionally typical decisions, sharing and articulating a proper vision along with establishing attainable objectives, and providing followers with the knowledge and tools they need to succeed.
Effective leaders are needed in the majority of societal sectors, such as businesses, local communities, politics, and nonprofit institution. In addition to that, a good leader effectively schedules work by assigning tasks, setting deadlines, and keeping track of progress (Gandolfi and Stone 2018). In order to foster a productive mentality and inspire workers to task production, some degree of aggressiveness is required as per my consideration. An effective leader has multiple qualities such as self-assurance, excellent communication and management abilities. As per my perspective, an efficient leader needs to be creative and inventive thinking, willing to take risk and chances, open to composure and change, as well as quick thinking in sudden or emergency situations.
CSR in retail has developed from a strategy for keeping employees to a must for survival in the sector. In order to commit or achieve long-term principles, participating in CSR in retail typically means sacrificing short-term income (Fukuda and Ouchida 2020). As a retail manager, CSR helps me in determining the causes that are important to my organisational team along with those that my operations that are already making a positive or negative contribution. Employee engagement and buy-in are boosted by choosing a CSR activity collectively, leading to better long-term results (ElAlfy et al. 2020). This determines how I will enhance my operations using this knowledge. My retail enterprise must take into account cultural dynamics and diversity. Furthermore, I need to keep in mind that each region’s language, values, and beliefs are a reflection of its distinct identity.
Every retail sector needs to find and develop bright executives who can navigate a shifting agenda and take advantage of new technologies like predictive analytics as they become more widely available in this digital era. In addition to that, effective leaders in recent decades oversaw the growth of their organisations and make efficient efforts for expanding their enterprises (Cortellazzo, L., Bruni, E. and Zampieri 2019). Contrarily, the ecosystem that today’s leaders must navigate is one that is unpredictable and driven by technological advancement (Gandolfi and Stone 2018). In the present era, fostering my retail organisational culture that encourages continuous learning and instils a customer-first mindset throughout the business is one of the key responsibilities of any effective leader. The efficient leaders I spoke with agreed that they needed a better framework to understand the culture of my organisation and determine how to improve or modify it. This kind of effective leadership can be helpful for my retail enterprise in order to grow and expand my business across the region.
Conclusion
The current study concludes with the explanation and importance of CSR and leadership. In addition to that, I have included the effective contribution of CSR and leadership in my retail business. Along with this, the benefits of the mentioned qualities for the growth of the organization along with attaining sustainability in the market have been depicted in the content.
Reference List
Cheong, M., Yammarino, F.J., Dionne, S.D., Spain, S.M. and Tsai, C.Y., 2019. A review of the effectiveness of empowering leadership. The Leadership Quarterly, 30(1), pp.34-58.
ElAlfy, A., Palaschuk, N., El-Bassiouny, D., Wilson, J. and Weber, O., 2020. Scoping the evolution of corporate social responsibility (CSR) research in the sustainable development goals (SDGs) era. Sustainability, 12(14), p.5544.
Fukuda, K. and Ouchida, Y., 2020. Corporate social responsibility (CSR) and the environment: Does CSR increase emissions?. Energy Economics, 92, p.104933.
Gandolfi, F. and Stone, S., 2018. Leadership, leadership styles, and servant leadership. Journal of Management Research, 18(4), pp.261-269.
Varyash, I., Mikhaylov, A., Moiseev, N. and Aleshin, K., 2020. Triple bottom line and corporate social responsibility performance indicators for Russian companies. Entrepreneurship and Sustainability Issues, 8(1), p.313.
Velte, P., 2021. Meta-analyses on corporate social responsibility (CSR): a literature review. Management Review Quarterly, pp.1-49.
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