October 20, 2019

Corporate Social Responsibility (CSR)

Responsibility to shareholders Recognise the investments Protect the interests of the shareholders Provide a reasonable dividend Strengthen and consolidate position of the company. Responsibility to employees – success of an organisation depends to a large extent on the morale of the employees and their wholehearted cooperation.  Payment of fair wages Provision of best possible working […]

Who are stakeholders of business and what are their roles?

Stakeholders are the people or organisations who may have a material, professional, legal or political interest in the activities and performance of the organisation.There are three main types of stakeholders: Internal  Employees Other departments Managers  External Government Suppliers Press groups Activists Competitors Community   Interface – stakeholders who function both internally and externally.  Shareholders Clients Trade […]

What are the economic roles of a government?

Regulatory role Covers a broad spectrum – entry to the business to the final result of business The reservation of industries to small scale, public and cooperative sectors.  Licensing system Regulation of entry Regulation of product mix, promotional activities etc.  Regulate relationship between organizations.  Promotional role Building infrastructure – power, transport etc.  Financial support Institutions […]

What is Triple Bottom Line (TBL) concept?

A new framework to measure performance in corporate world which went beyond the traditional measures of profits, ROI etc to include environmental and social dimensions.  An important tool to support sustainability goals. It is based on the pillars – People, Planet and Profit. An accounting framework that incorporates three dimensions of performance: social, environmental and […]

NGO

NGO Any non-profit, voluntary citizens’ group which is legally constituted, organized and operated on a local, national or international level.  They are task oriented and driven by people with a common interest.  An organization that is neither part of a government not a conventional for-profit organization May be funded by governments, foundations, schools, businesses or […]