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The Impact Of Corporate Social Responsibility On Business Performance – Can It Be Measured, And If So, How
Kaufmann, M
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In recent years, more people begin to accept the concept of corporate social responsibility. Companies also pay more attention to the activities of CSR and investment. In addition to face the pressure of the environment and the social moral level, the enterprise managers also have the responsibility of the company 's performance and the value of the shareholder 's wealth. Therefore, enterprises need to pay more attention to the relationship between corporate social responsibility and financial performance. Through the analysis of Lenovo case, this essay aims to study the relationship between corporate social responsibility and financial performance. The measure of social corporate responsibility is from many aspects. This article analyzes …show more content…
The enterprise must keep continuous innovation to maintain competitive advantage. Enterprise 's innovation ability is the key factor of innovation success. Lenovo 's innovation is reflected in many aspects, like technology, product, business model and management culture. Lenovo has its own research and development team, they also set up several laboratories in the world. Lenovo focus on the innovation of product and technology, they have won several awards, the number of patents is also increasing year by year. The successful cooperation with China aerospace engineering has proved the strength of Lenovo’s technology. Pursuing innovation helps Lenovo improve the competitiveness of the enterprises and get extra …show more content…
They have formulated a long-term environmental strategy. Lenovo makes effort to minimize emissions, prevent pollution, reduce health and safety risks, save energy and reduce carbon emissions. In addition, they try to be responsible for the disposal of waste. Products and packaging both minimize the use of materials. When choosing materials, they prefer the recyclable and environmentally friendly ones. They aim to maximize the reuse and recycling. Lenovo has realized the positive promotion effect of environmental performance on economic performance by reducing the cost and increasing the sales income. Through the case analysis of public welfare activities, innovation and environmental protection, plus the research on annual reports and social responsibility reports, it can be concluded that there is a positive correlation between CSR and economic
Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.
Today in the corporate world various strategies are applied to successfully run and execute transactions. In the recent years, the subject matter of Corporate Social Responsibility has escalated. “Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders” (http://lexicon.ft.com/Term?term=corporate-social-responsibility--(CSR). Communities are demanding that corporations take social responsibility for their actions, and elucidate the process of disposing waste in an environmentally manner to the people. Numerous businesses have initiated Corporate Social Responsibility approach in order to gain benefits, which will allow
Corporate Social Responsibility is the obligation from corporations to utilize their resources to aid and benefit the larger society. The four components of CSR are economic, legal, ethical, and philanthropic. Social Responsibility is a fundamental force in the wealth creation process. If correctly demonstrated, CSR should heighten competitiveness and boost the value of wealth creation to society. A company's CSR Initiatives directly represent who the company is and what it believes it. The m...
Companies have presented investigations about their motivation towards voluntarily social and environmental as insolvent. This paper argues in agreement with Adam’s view that the goal of CSR reporting is to promote credibility and corporate image of stakeholders operating in a particular industry. Whereas companies must focus their efforts on enhancing their profitability, they should also ensure that the welfare of other stakeholders is protected.
Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a...
Lenovo Company is a company that well-known as a computer company. The company is even considered as the largest producer computer in China. Lenovo Company was even considered as the largest computer manufacturer in the world at 2013, world’s #1 computer company was held by Lenovo Company. Lenovo are the #329 in the list of Fortune 500 world's largest companies. Lenovo acquires CCE, a leading consumer electronic company in Brazil. Lenovo becomes the world's #3 smartphone company. The company headquartered is in Beijing was originally only a small company. Lenovo company had faced many failed before it’s5 become a great company at now. The background of Lenovo company that where was from start up until now have a great
So Lenovo's market position should be made promptly converted to meet consumer demand. It is the origin of Lenovo to create the famous Chinese brand, and this existing connotation can continue exist and support Lenovo’s strategy choice
Corporate Social Responsibility (CSR) is a very familiar term in today’s world. Most of the successful companies try to be ethical and socially responsible toward their stakeholders. Because becoming ethical and socially responsible gains a lot in terms of profit or capturing more market share (Aras and Crowther,2009). This socially responsible approach is paved by the CSR activities of the companies which has a great contribution to their corporate strategy of winning the customers’ mind. In this assignment, the pros and corn of CSR activities of a particular organization a...
Ethics and Corporate Social Responsibility(CSR) is one of the issues that society concerns about and expect organisation to perform. Society are more concern on Corporate Social Responsibility nowadays, and according to “Iron law of Responsibility”, those who do not use the power in ways that society considers responsible will tend to lose it at last. However, there are some issues will arise when the company performing CSR. Throughout our research, there are some significant issues that encountered by Petronas Chemicals Group Berhad.
One of the largest technology company in the world, Lenovo had a humble beginning as a small Chinese firm founded in 1984. The company showed modest growth throughout the rest of the 20th century. It wasn’t until the company’s acquisition of IBM’s personal computer business in 2005 (Martin, 2014) that the company began to gain prominence in the technology industry. Lenovo’s innovation and strategic decision making has allowed the company to evolve on a global platform and enabled it to become one of the leading technology companies in the market today.
He advised corporate may use own financial, managerial and human resource in reconstruction measures adopted for the goodness of society. Gradually his advice was taken seriously and it got accepted in theory that corporate had to share overhead costs with the society. Traditionally, CSR was done to society in form of donations to educational institutes, medical and science based researches. But the most important change noticed in 90s was corporates accepting social responsibility as an integral part of management activity. Tata Iron and Steel Company introduced the concepts of “Social Responsibility” (Gupta, 2007). Sethi (1975) was the first person to introduce the term corporate social performance, which was later expanded by Carroll (1979), and then Wartick and Cochran (1985) refined it. Sethi (1975) gave three-level model in which the concept of corporate social performance was discussed in details with the differences explained in various types of corporate behaviors. According to Cochran (2007) Sethi’s three level model discussed ‘social obligation’ meaning response to legal and market constraints; ‘social responsibility’ meaning congruency with societal norms; and social responsiveness meaning adaptive, anticipatory and preventive behavior. Later years of 20th century witnessed corporates making active participation in the mainstream development of the society and showed greater concern for the disadvantaged groups of the society. According to Mohan (2001) this drive was internally (corporate own will) and externally (increased government and public expectations) inspired. As per the reports of a sample survey conducted in 1984 an amount of 47% was
In 1984, the same year that Compaq introduced a PC that included Intel’s new and more powerful 80386 class of microprocessors, beating IBM to market and Michael Dell began building IBM compatible computers in his college dormitory, Lenovo was form as a shop in a small concrete bungalow in Beijing with a mandate to commercialize the Academy’s research and use the proceeds to further computer science research.
In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its
Corporate Social Responsibility is an organisation’s obligation to serve the company’s own interest and the one’s of the society. Moreover, Corporate Social Responsibility has a definition of a concept where the companies integrate social and the environmental concerns into their own business operation and also on a basis of voluntary with their interactions they have with the stakeholders. Corporate Social Resp...
As we know, Lenovo is one of the most popular computer and peripheral manufacturing units of the world, which has risen manifold in size in the recent years and has been growing ever since. Lenovo was found by the name of Legend in the year 1984 in Beijing, China, and was