This website uses cookies to ensure you have the best experience. Learn more

Bio Spectra: Montreal's Socially Responsible Company Essay

2236 words - 9 pages

INTRODUCTIONAs management students we often hear of many concepts and practices that have been landmarks of the way business is conducted by the worlds most powerful and influential organizations. Between theories of cost effectiveness analysis or process integration, we are told that business are similar to living organisms in that they change and interact with the rest of society.This assertion has many effects on the way we look at them and how we define what their purpose should be. From a purely economic standpoint, businesses are there to make money. From a social perspective, many in the business world argue that organizations produce certain goods such as employment opportunities that translate into improved living conditions for all those connected to this mechanism.Furthermore, as the sphere of influence of business has grown in the last decades, so too have the debates over the limits of their interactions with the rest of society. Loud calls have been made by many parties to monitor with increased scrutiny, the social contributions of companies. Among the main argument for such a position is the belief that organizations have run above caring for society’s best interest. By being—for much too long—held accountable to only the economic performances of their firms, leaders of industries have elected to steer their organizations clear of meeting any social objectives aligned with the communal best interest.But there currently is a change in perspective regarding the approach to business and social responsibility. The more careful analysis of businesses and their role in building the societies have led to a shift in perception and the now popular understanding that just as we citizens are required to be accountable for the consequences—even those unforeseen—of our decisions, organizations must conduct their affairs in the manner which are aligned with the greater good.While some in the business world initially rejected that position; stating that by focusing on anything more than the financial performance aspects would be a sure fire way of hindering their overall standing within the national and international arena, more converts have adopted a multi layered approach to success.The rehabilitation of business activities is still far from completed; as most leading corporations are still entrenched in their old ways of doing things, in their old roadmaps—old habits die hard. The only encouraging thing to keep in mind is that today, many reference points lead us to good corporate citizenship. I am by no stretch suggesting that social responsibility and business are today joined at the hip, rather that when looking at the business landscape, it is apparent that things are moving in the right direction.After a very extensive search, a company, that embodies the spirit of good corporate citizenship and that should be held as an example for all those still waiting to take the leap of faith and realizing that better...

Find Another Essay On Bio-Spectra: Montreal's Socially Responsible Company

Socially Responsible Corporations Essay

580 words - 2 pages companies.      The leader in socially responsible companies is the Fannie Mae Foundation. This company strives to help minorities in purchasing their first home. The Fannie Mae Foundation purchases mortgages from lenders and then repackages them for sale as securities. This has enabled them to keep mortgage rates low, and help the normally overlooked homebuyers, become homebuyers. Also, most uniquely, they help those

The Role of Business Essay

1391 words - 6 pages , because of the increased profits the company could receive due to better productivity. Is being socially responsible actually good for business? In one sense, social responsibility is good for business, according to those promoting the idea. It has been said that it enhances the public image, and this is mainly due to it being publicised by media coverage or through simple word of mouth (Boddy, 2005). It has also been said

Strategic Decision for Smart-Mart

1463 words - 6 pages of providing complete control of the production and supply, would actually cause the company to be completely emerged in the process. There are two major downsides to it. First, production of bio-fuels is outside the core competence of the store, and hence there could actually be destruction of shareholder value due to high startup cost and uncertainty of future profitability, SmartMart has no way to know what costs might show up in form of

CORPORTATE SOCIAL RESPONSIBILITY

2156 words - 9 pages because it is becoming an increasingly important concern to the society in which an organization operates in. Businesses worldwide have become more socially responsible, but they still are pursuing economic interests. Economic interests will always remain the main, if not the only, priority for most businesses all over the world. Also, either position in corporate social responsibility might sway the financial performance of the company either

Sustainable Marketing

1567 words - 7 pages INTRODUCTION Sustainability proposes that socially responsible firms will somehow financially outperform other less responsible firms in the long run resulting from customer loyalty, better employee morale, or public policy favouring ethical conduct. Empirical results testing this hypothesis are mixed, neither suggesting that more responsible firms, on the average, have a clear financial advantage nor a large burden. A useful approach is to

3-Concepts to be used for maximizing the shareholders wealth

653 words - 3 pages CFO of a company has the responsibility in maximizing the shareholders wealth without affective the goals of the organization. CFO is responsible for making crucial financial decision of a company. CFO of a company has to play the role of a steward, catalyst, operator and strategist, no investment decision of the company can be made without the approval of the CFO. These roles and responsibilities clearly narrate their significant part in

Is it All Because of Our Genes?

833 words - 3 pages than the product of a quirky twist of evolutionary fate. Such a view is not without its critics. They point to the spectra of eugenics haunting modern genetics research. Retreating to the time where the heritabilty (the relative contribution of genes to a particular trait) of quot;pauperismquot;, quot;criminalityquot;, and quot;feeble-mindednessquot; were quot;provenquot; would be the beginning of a long, slippery road that resulted in the re

Pest Analysis

564 words - 2 pages entire oil industry is been governed by OIL Ministry and OIDB a Govt body. This two institutes are responsible for all the decision related to the price, quality specification etc. Beside this the international politics also affect this international commodity "Oil" a lot and also its companies. Any company operated in India had to work according to the norms and on the prices specified earlier by Govt bodies.

ARGUMENTS FOR AND AGAINST CORPORATE SOCIAL RESPONSBILITY - Mac UNI - ESSAY

1634 words - 7 pages all organisational functions. In specifics a company may act socially responsible if they take the initiative to take part in community groups and charities. Consequently such business, through its positive charitable acts benefits intrinsically as employees are detected to become more motivated, in turn improving the organisations operations and resulting in an incline in service quality. An example of this can be seen in the company P?zer

Corporate Goal

1145 words - 5 pages evidence to suggest that the pressures on managers to adopt socially responsible policies have moved beyond the simple need to match the efforts of competitors. Various stakeholders have designed ingenious measures to pressure corporate managers into adopting strategies that favor corporate social responsibility. Prahalad and Hamel (2004) and Hamel and Prahalad (2004) claim that firms face a myriad of pressures to behave in socially responsible ways

Profit maximization VS Social responsible

2443 words - 10 pages product or services compared to its competitors. And, the only way to achieve this is by reducing the cost of business by minimize the unnecessary expenses. In this case, being socially responsible adds cost of doing business. These additional costs will be passed on to the consumers of the product, and this does not give an organization advantage over its competitors. For example, let's say company X and company Y enters the market of making perfume

Similar Essays

Urban Air Pollution Essay

1533 words - 6 pages ethanol. The National Bio fuels Program is working to decrease the cost of the technology to convert waste to ethanol so that it can be commercialised. Then private industry will lead this effort to solve some of our waste problems. One U.S. Company has taken strides toward this. Masada, Incorporated, has plans to build an ethanol plant in Middletown, New York, that will convert the celluloid materials in municipal solid

Herman Webster Mudgett: H.H. Holmes Essay

2136 words - 9 pages ). With full ownership of the drug store, he renamed it after himself and announced plans to expand his business (H.H. Holmes Bio…). Using money he borrowed, Dr. H.H. Holmes purchased a lot across the street from his drug store and had a construction company begin building a block long, three story building dubbed by locals as “The Castle” (H.H. Holmes Bio…). The hotel, designed by Holmes himself, was nothing out of the ordinary from an outside

Socially Responsibility Case Study

746 words - 3 pages right thing to do, this means making a difference to others by making them happy which in return will make a difference to the company itself. Socially responsibility is an organisations obligation to engage in activities that protect and contribute to the welfare of society. So being socially responsible generates will and positive image for a business. For a company, having trust and good reputation are valuable assets. Ethics are moral values

Management Social Responsibility Essay

2551 words - 10 pages responsible company has been such a big issue for many businesses. It might sway the financial performance of the company either positively or negatively. The manager of a company has to be able to make an ethical decision in order to be socially responsible.As proposed by Robbins et al (2003),there are two opposing views of social responsibility that can be related regarding the organisation's approach to social responsibility which have impacts on