HI6008 Business Strategies Assignment Sample
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Chapter 1: Introduction
Business strategies, objectives, and conducts have changed over the years. Corporate houses do not only concentrate on merely making profits, it rather believes in giving back something good back to the community. The concept of corporate social responsibility has seen revolution in last 2 decades. Although there are standard rules for the companies to follow CSR, the management introduce an efficient practice to do good for the community. Ethical values and CSR policies has improvised in the modern business culture (Porter& Kramer, 2006).
The companies have also given contribution in reducing CO2 emission, dealing with the environmental issues, and educating the community. These aspects are associated with the turnover, and the sales made for a specific period of time. Ethical values and practices have become quite obvious for the companies, and it is assumed to help the managers to deal with various associated challenges.
In this research report, a detailed analysis about the ethical values and the CSR strategies are integrated in the business operational works, which are used to improve the strategic values for the companies. Ethical values are quite important to improve the performances and to develop relationship with the staffs and the external members. In this report, the performances of the unethical policy practicing companies are compared with the ethical ones. This comparison assists to determine how the performances are impacted due to practices followed in various companies is included in the analysis. Besides that, report will focus on the big organisation citizens as they are more involved in adopting the unethical practices in their performances.
Project Objective
The project objective is to analyse ethical values and the CSR strategies of the small organisation citizens in order to examine its overall performances. In regards to this, project focus on the large firms due to these types of organisation follows different CSR strategies. Likewise, some organisation develops the CSR strategy with the aim to gain benefit while some firms’ intension is quite positive in respect to help the organisation citizens for increasing satisfaction. Such practice helps the firm to grow more. However, this project will help to analyse the differences between ethical CSR activity and unethical way of designing the CSR activity. This research work, examines how the management value the CSR policies and how the defined strategies are adopted to improve the overall business activities. The prevailing gaps between various business activities that are indulged in the corporate social reasonability and others are also included (Orlitzky, 2015).
In this work, the relationship between the CSR policies and the ethical values are examined in relationship with the company performances. The strategies adopted by the corporates to make changes in the operational plans, and to deal with the associated issues are being examined. In the policy evaluation, the reliability of the strategies adopted for the CSR policies and ethical standards by a company are examined.
The project scope also finds the informant on the need for the company to adopt and follow ethical standards needed to improve the overall performances. Direct and the indirect impact of the ethical standards and policies are also examined in this research work. The impact of the policies and the strategies are analysed in the report.
Chapter 2: Literature review
Ethical values
The ethical standards and policies play an important role, in reflecting the work intentions of the company. A positive CSR policies and ethical values are much preferred by the stakeholders and the clients, as it benefits the company. There are no defined policies and strategies introduced for the CSR, and thus there are no ways to get a confirmation about the effectiveness of the system, as stated by Sexton (2015) CSR policies concentrate on improving the work performances for a company, by taking up works that would benefit the clients and the community members.
The more positive works carried out by the management, better would be the performances. This also needs the management to conduct the works in an ethical manner, as it assists in stating the intention of the managers to the external and the internal stakeholders. The purpose is to improve the living standards of the people, and to conduct the corporate works in an ethical value, where the business activities are conducted without impacting the operational goals of the company. In support to this study, it can be stated that ethical values are important for the big companies for improving their employees or stakeholder performances because ethical practice contribute towards the increasing performances of firm. This is because people have a positive perception about the business who deals in the CSR activities. Thus, the CSR activities and ethical practice support the firm for a longer growth.
Ethical values and practices are quite important in defining the changes needed to increase the overall performances determined by the company. In the ethical value determination process, the managers examine the relevance of the policies and examine its impact on the operational. Ethical values are directly associated with the CSR strategies that are adopted and implemented by the company (Robinson, 2007). In support to CSR study, Robinson stated that CSR and ethical values plays an important role in regards to make an impact on organisation goodwill as CSR rating allows the people to perceive performances of company and accordingly they take purchasing decision. Thus, he identified that CSR rating is the measurement area within which organisation ethical value can be judged. The organisation with higher CSR ranking gain more benefit as it indicates that firm address all the aspect such as society, environment and economy. This leave a positive impression at consumer mind which result in achieving competitive advantage (CSRHUB Sustainability management tools, 2018). The theory of Robinson can be justified with the example of Construction Company i.e. WBHO Infrastructure which has been include CSR activities in their construction process through fix the standard within which carbon emission get released. Besides that, firm also involves in the ethical implementation by involving the practice of recycle and reuse of extra raw material. This practice of firm contributes towards the increase satisfaction level of different stakeholders. Thus, such areas clearly define that CSR and ethical consideration may help the firm to grow more. In a similar manner, the study target respondents are the big organisation citizens which mean employees, customers, investors and suppliers etc.
Impact of the CSR on the operational works
CSR strategies have a direct impact on the business operational activities. The performances of the company are either positively or negatively affected due to the type of CSR policies and ethical standards adopted and followed in a company. Transparent ethical standards and policies integrated with the CSR policies help in attracting the clients, and in sharing the future and the present business strategies. This process develops a positive relationship with the business associates and assists in acquiring the business objectives (Ton, 2014).
An ethical standard attracts the clients in a positive manner, and this improves the profit for the company. With high standards like the labour law, conflict management, and others the relationship of the company with the staffs are improved. This reduces labour turnover and contributes towards the productivity. These are the additional factors that are used by the company to sustain the competition and to acquire the larger market portion needed to improve the business activities (Epstein, 2018).
Additionally, CSR contribute efficiency for the operational work in the form of timely availability of raw material without getting any delay and in a same manner, it deliver the product properly to the final consumer. Such areas contribute towards the achieving proper operational work. However, ethical practice also help the firm in terms to smoothly operate the business as suppliers, distributors develop a faith with the particular organisation. Thus, in this way, ethical values support the firm operational framework.
CSR and profit values
CSR works are undertaken by the big management out of the profits and additional income earned during a time frame. The management ethically plan for the work, and ensure that the right type of works are undertaken to benefit the community members. An unethical practice and CSR strategies directly impacts the business activities and causes urge damage. For instance, in Enron protect the company followed unethical standards and policies that affected the company relationship with the investors, community people, and the government agencies. Due to the wrong practices, the company had to close down and incur huge losses. The project failure also caused huge labour turnover, and caused community damage. Apple on the other hand follow an ethical standard and practices that highly concentrate on benefitting the staffs, investors, and others who are involved or associated with the company. This has resulted in the growth of the company, and highly contributed to the growth of the organisation (White, 2012).
Research questions
Primary questions
- How are the ethical values and CSR strategies associated with the company performances?
- How are these aspects measured while introducing the changes in the operational changes for a company?
Secondary questions
- How were the performances of the company, evaluated through the ethical values and the standards that were implemented by the managers?
- What are the consequences of not following the ethical standards and measures that were determined for the company?
Chapter 3: Research design
Research design will define the process to collect and examine the research information about the ethical values and the CSR strategies for a company. The relevance of the information will be examined, before including it in the analysis part. Qualitative and the quantitative research methods will be the two preferred options that will be used in the analysis part. The facts will be collected to find how the ethical values and the CSR standards are associated with each other.
In the description process, the research work will concentrate on the fact findings. However, survey will be conducted among the big organisation employees so that proper understanding can be gained in regards to impact of CSR and ethical values over the organisation performances. The survey method will be preferred for the fact analysis that intends to find how the ethical values and the standards for the CSR are associated with each other. In the survey method, a set of questions will be sent to the participants, and the information will be collected from the members. This intends to collectively find the information and use it for the research process.
Qualitative research process
In the qualitative research process, the answers to the research questions will be found. This method will use the social-science process, where the facts and other related information will be collected and analysed for the conduct of the research work. The facts will be collected in the non-numerical format. This method helps the researcher to achieve the facts that are needed and will be applied in the work after getting examined. The objective will be to find how the ethical values and the standards are associated with the CSR methods. In regards to this, big organisation employees are surveyed in regards to determine their viewpoint over the CSR strategy and ethical values. Based on this, it is become easy to analyse the impact of CSR over the business performances. A statistical method will be followed to collect the information from the participants, and the details will be used to make a detailed analysis about the tasks to be performed. This forms an important part of the research work, and the analytical value process where the information will be included for the fact analysis process (Creswell, 2003).
Quantitative research method
In this method, the researcher will use a structured form to collect the information. An interviewing method will be used to analyse the facts, and to present the relevant facts in the detailed numerical format. It is done among the employees of big organisation. Through such a process, it will be possible to analyse the information and use the facts that will be used for the evaluation of the information that would be included in the research work. The collected information will be presented in the statistical form, which will make it quite easy to understand.
In this research work, the researcher will use the quantitative method, as it is quite simple to collect the facts and present it in a numerical form.
Sampling method
The sample size will be based on the random method, where the research will choose a sample size of 24 people. These members would be the decision-makers on the ethical standards and the CSR policies, working at different levels with various companies.
Data collection method
Primary data collection method will be used to collect the information and to present the facts. This method will be integrated with the survey method, where the questionnaires would be forced to collect and examine the relevant information.
Primary data collection
This process is preferred to as the facts and the information on the ethical values and the CSR methods could be used to collect the needed information required for the research conduct.
Secondary research method
In the secondary research process, the research would use the e-books, journals, PDF files, and other library resources. Facts will be collected and analysed, without putting forward any views.
Research limitations
The limitations which can be found in this research is the duration of time, how long or big process is and the techniques and the methods used for the collection of facts and data. Answers provided by the participants cannot be assured as the views of the members cannot be ascertained.
Time schedule
| No. of Weeks | No. of Days | ||||||
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | |
| 1st Week | Plan the works | Data will be collected | Analyse the facts | Data Finalisation | |||
| 2nd Week | Analytical Plan | Introduction Plans | Analyse the challenges with the fact findings. | Analyse the works | |||
| 3rd week | Outlay of the project | Discuss the work with the lecturer | Plan the work and conduct the task | Plan implementation | |||
| 4th Week | Work on the introduction | Finish the literature review | Work on the methodology | Finish the works | |||
Conclusion
The relationship between the ethical standards and the CSR methods is being examined in this report. This analysis is being conducted among the big organisation with the aim to find how the ethical values and the standards and the process can impact on the CSR process. The policies and the methods associated with the task implementation that affects the business activities. The strategies are adopted and implemented to deal with the operational works, and to increase the quality of the tasks.
References
Creswell, J. (2003). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches. Thousand Oaks, California: Sage Publications.
CSRHUB Sustainability management tools, (2018). Corporate Social Responsibility (CSR) & Environment, Social, Governance (ESG) Metrics. Retrieved from: https://www.csrhub.com/CSR_and_sustainability_information/Robinson-Department-Store-Public-Company-Limited
Epstein, M., 2018. Making sustainability work: Best practices in managing and measuring corporatesocial, environmental and economic impacts.. Routledge.
Orlitzky, M., 2015. The politics of corporate social responsibility or: why Milton Friedman has beenright all along.. Annals in Social Responsibility, , 1(1), pp.5-29.
Porter, M. E. & Kramer, M. R. (2006). Strategy and society: The link between competitive advantage and corporate social responsibility. Harvard Business Review, December, 78-92.
Robinson, J. (2007). Morality and economics. Economist’s View. Retrieved from http://economistsview.typepad.com/economistsview/2007/07/morality-and-ec.html
Sexton, R. L. (2015). Exploring economics. Seventh Edition. Boston, MA: Cengage Learning.
Ton, Z. (2014). The Good Jobs Strategy: How the Smartest Companies Invest in Employees to Lower Costs and Boost Profits. New York: Houghton Mifflin Harcourt Publishing Company.
White, M. (2012). The great big book of horrible things. New York: W. W. Norton & Company.
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