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Chapter 5 corporate social responsibility Value Chain: The sequence of coordinated actions that add value to product or service Civil Regulation: Regulation by nonstate actors based on social norms or standards enforced by social or market sanctions.
A production cost not paid by a firm or its customer, but by members of society. The application of ones nations laws within the borders of another nation.
A standard that arises over time and is enforces by social sanction or law. A rule, natural law, or truth used as a standard and to guide conduct. Formal statements of aspirations, principles, guidelines, and rules for corporate behavior. The practice of a corporation publishing information about its economic, social, and environmental performance.
Payment of wages to small, marginal agricultural producers in developing nations sufficient to allow sustainable farming and labor practices.
A model of the methods an organization can use to achieve certain goals. Corporate social responsibility is defined in chapter 5 as the corporate duty to create by using means that avoid harm to, protect, or enhance societal assets.
Did GE in the Welch era fulfill this duty? Could it have done better what should it have done? I felt that GE did enough considering the constraints and limitations. They will have their rough areas and then they get stronger as they proceed.
I think otherwise GE under Welch was a well brought out organization.
Everyone hinders through life and sets goals. They did pretty well, a little rough start however they still managed to pull through.
Like I said In the previous answers businesses will grow if you just allow them to. You may never go wrong with strong leadership ethics and a well rounded team.
What are the pros and cons of ranking shareholders over employees and other stakeholders? Is it wrong to see employees as costs of production? Should GE have rebalanced its priorities?
The pros were that ranking shareholders would mean more money and the cons would evidently mean that because shareholders were put first, the employees would be discouraged and would not want to work for that particular company. GE was doing what their conscience allowed them to do.
GE only made decisions based on what employees portrayed. If anything was to be fixed, it would have to be inequality.Nevertheless, Jack Welch as the CEO did not fulfill the duty of social responsibility.
He did not avoid harm or protect societal assets.
Under Welch’s leadership the GE Company contributed to environmental damages in areas of the country which manufactured GE products. Search and browse our historical collection to find news, notices of births, marriages and deaths, sports, comics, and much more.
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years people had thought that the relationship did not exist, but when all the studies to date were examined together, the original beliefs about the satisfaction–performance relationship deteriorated. These situations pit employers’ concerns for productivity against employees’ desires to fulfill religious obligations.
Shareholders should be realistically allowed to directly select corporate director candidates via the SEC Shareholder Proposal procedure. The days of corporate paternalism should be ended. Corporate governance problems will only be cured when Shareholders can easily remove incompetent/corrupt Directors, i.e., vote them out of .