Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

- Traditionally, corporations focused strictly on Economic Values. More recently, corporations are demonstrating their commitment to Non-Economic Concerns - or to what has been referred

- Traditionally, corporations focused strictly on Economic Values. More recently, corporations are demonstrating their commitment to Non-Economic Concerns - or to what has been referred to as their Corporate Social Responsibility (CSR).

- The movement to a Global Economy has created the Pursuit of Universal Values as a basis for International Commercial Behaviour - the ideal. Varying Global Standards is, in fact, the reality. In complying with Laws and Regulations, corporations recognize that compliance means both National and International Governance under a variety of Economic Systems.

- Consumer Protection has created a new level of consciousness for corporations. At play here - self regulation versus government regulation.

- Truthfulness and Transparency are consumer expectations in both Sales Marketing and Advertising.

- In addition to Economic Sustainability, corporations are expected to address the issues of Environmental Sustainability and Social Sustainability by their expanding Stakeholders.

- With the public exposure of Concerning Corporate Activities and Global Corruption, corporations have embraced the concept of CSR to both maintain and to rehabilitate their Corporate Brand and Reputation.

All in all, a well defined Corporate Social Responsibility Policy is the Key to a Profitable Business Model for today's corporation.

What will be the draft of our own Corporate Social Responsibility Policy for a corporation whose profile is:

Company Profile

- This is a new but large international corporation with a manufacturing presence on every continent.

- The company designed and now produces a high tech product of revolutionary proportions.

- The market for the product extends to consumers of every demographic worldwide.

- There are potential environmental impacts of production from exposure to newly created substances and consequential issues related to human capital in the business supply chain.

- A number of issues will attract both national and international governance in the regulation of the company to address consumer protection.

- There are also concerns that the new technology and its intellectual property will have particular appeal to certain pariah states and therefore be material sensitive to espionage and theft.

- This company has a broad range of stakeholders.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Marketing management

Authors: Philip Kotler, Kevin Lane Keller

14th Edition

9780273753360, 132102927, 273753363, 978-0132102926