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Describe the five types of strategies in Porter’s generic strategy model
The nature of csr in a business
The strategy your company will be pursuing based on Porter's generic strategies model
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Introduction
Social media is a web platform that provide its users to ‘create, share, and exchange their ideas, content, information or photos in computer-mediated groups and communities.’(Ellison,2007) The most well-known social media is Facebook which, according to the report from The Statics Portal, has over 1.4 billion monthly active users and available at many countries, as the table shows.
Recently, according to the Guardian, Facebook founder and chief executive Mark Zuckerberg “has held a rare meeting with China’s propaganda chief amid a crackdown by the Beijing authorities on the use of the internet.” As it was described in the report that “Zuckerberg has long been courting China’s leaders in a so far futile attempt to access the country
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Also, Chinese government lays down many regulations regarding some social problems. For example, the ‘Law of the People’s Republic of China on the protection of Rights and Interests of Women’ aims at cope with gender inequality and ‘Regulations on Enterprise Minimum Wage’ aims at protecting labours’ legal rights. All these regulations contain CSR elements and requirements. It is vital for foreign companies to be aware of the importance of corporate social responsibility in today’s China.
In other words, companies which conduct corporate social responsibility (CSR) strategy will be more sustainable and competitive in Chinese market, as Porter (2011) pointed out that there is a connection between corporates’ competitiveness and health.
Johnson raised four definitions of CSR in 1971. One element is that CSR can add profits to their organization. Porter (2011), the leading authority on competitive strategy research, further introduced a new business concept called creating shared value (CSV) in 2011. Therefore, this dissertation will also make some explanations on how the CSR can be helpful for foreign social media companies entering Chinese
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...
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...
Corporate social responsibility (CSR) invaded the corporate world over the last few decades. This concept has become an essential need for competitive advantage unlike its original role as a nicety. The companies have seen the business benefit of the initiative and stakeholders have appreciated the initiative. This has led to the wide application in the firm’s operational agenda.
The purpose of this paper is defined the way RIOCH gain competitive advantages by applying CSR policies in global business environment. Increase the company value by practicing high standard CSR activities. Finding out the difficulties might face the company in adopting a unified CSR policy around 200 countries.
The topic of corporate social responsibility is play a key role to run a business and has become one of the standard business practices of our time. In current, most successful companies whether big or small enterprise for instance Apple, lnc. and Krotron has engaged in CSR because it is a good way for companies to benefit themselves while it also benefiting society. And in order to obtain benefits that can give them the advantage over their competitors.
Corporate social responsibility is globally defined as operating a business in a way that meets or exceeds the ethical, legal, commercial and public expectations that society has of business. The concern of CSR has drastically increased over the last two decades. It has enhanced interactions between governments, businesses, society and internationally. In the past, businesses primarily focus themselves with the economic results of their decisions. Now, businesses must also reflect on the legal, ethical, moral and social consequences of their decisions. Corporate Social Responsibility is no longer defined by how much money a company contributes to charity, but by its overall involvement in activities that improve the quality of people’s lives.
Social Media are computer-mediated tools that allow people to create,share or exchange information,ideas,and pictures and videos in virtual communities and Networks.(Social Media Definition-Wikipedia the free encyclopedia).Social Media is social instrument of communication that will give information simply by asking,giving comments or recommending of other people with similar interests.This is use by giving your thoughts and the ability to communicate positively or negatively.Examples of Social Media sites are Facebook,My Space,Twitter,Bebo,and Linked-In.For a fast paced technological world,Social Media has a big part of our digital lives.It is the starting point to penetrate in every aspects of our lives,in our personal life,Social life or even professional life.Many engage to
Social media networks are online platforms that electronically connect people, social media uses phone, computers. Boyd and Ellison, (2007) stated that social networks refer to marketing of personal information to the public through the internet. Social networking sites are web networks on which numerous people post private information and have the ability to share messages with other people. Facebook, Twitter and Instagram are examples of social media sites allow other people to develop profiles, post videos and photos, share messages, and communicate with family and colleagues (Paul, Baker & Cochran, 2012). Popular free social networking sites allow users to
Corporate social responsibility (CSR) is a business approach that contributes to sustainable development by delivering economic, social and environmental benefits for all stakeholders. (Louche, n.d.). A normal company’s main purpose is to produce profit and some companies want to benefit themselves before benefiting the people buying that company’s product, relating that to CSR they will get a higher reputation and that causes a higher sales which means bigger profit. CSR is the responsibilities that businesses should apply in order to make that business better towards the people and towards the eco-system. A part of CSR involves following the code of ethics which are rules that will guide a business to respect and the right behavior in order
For Zhang et al. (2014), CSR implies that companies should be responsible not only for their shareholders, but also for their stakeholders including suppliers, customers, and communities. Carroll (1979) identified four types of responsibilities that might be subsumed under CSR: economic, legal, ethical, and discretionary expectations. Economic responsibility means that companies are obligated to achieve profitability and satisfy customer needs. Legal responsibility indicates that companies must operate within the framework of legal regulations. Ethical responsibility includes some moral requirements. Discretionary expectation equals philanthropic responsibilities that contribute to society’s development and welfare. Wang and Juslin (2009) held that the western CSR concept does not fit the Chinese market and adopted the Chinese harmony approach to define CSR: enterprises should apply harmony to business and operate in a harmonious way between people and nature. The overall purpose of CSR should be cultivating humaneness, righteousness, ritual, wisdom, sincerity, and responsibility, and becoming a superior company. However, this concept is too abstract to conduct and few Chinese people can truly understand it without a deep understanding of Chinese culture. Many companies in China do not view CSR as an effective investment to improve organizational value unless CSR has considerable payoffs. In contrast to these misunderstandings, Stewart (2006) argued that companies and society actually have the same interests because enterprises cannot make profit in a corrupt, weak, poor society; and social progress can provide a healthy environment for company governance. As compared, Carroll’s (1979) definition emphasizes simultaneous achievement of a company’s economic, ethical, legal, and philanthropic responsibilities, which can be applicable to all countries. In this dissertation,
Nowadays, almost every modern company is doing CSR. Why? What are the advantages that these companies actually perceive when considering doing CSR? Well, one of the main benefits that these companies perceive is that it improves the company’s reputation and image. Companies that do well with regard to CSR can enhance and build their reputation whereas those that perform badly can damage the brand and comp...
International companies operating in China must adapt to the existing CSR policies that the country promotes. Therefore, Google finds it challenging to adjust and align its CSR policies according to the Chinese laws. The company has to adjust its policies to conform to the Chinese moral and ethical frameworks that guide CSR activities in the country. Google faces challenges doing business in China because its CSR policies are not compatible with the Chinese market. The regulatory conditions and the sociocultural norms, upon which Google’s CRS policies are founded, unfortunately are not applicable in China.
Internet has become a vital element in people daily lifestyles. People use smart phones, tablets, laptops or computers to access Internet. By the first decade of the 21st century, many Internet users use faster broadband Internet access technologies. As the Internet users grow, one of the Internet phenomenons that can be seen is social networking. Basically, people use social media to interact among people where they create, share or exchange information in virtual communities and networks.
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
Social media is becoming the most important and influential technological advancement in our country since the internet was created in the 1960s. For the longest time people were only limited to e-mails to make communication to one another and there were no large scale social media sites available. However, the internet started taking off in the early 2000s as new generations started bringing to the table new and more advanced ideas. Facebook was invented in 2004, where people were able to connect with whoever they wanted throughout the world to communicate and be able to share anything. On their