Corporate Social Responsibility Of Leading Property Companies In Hong Kong

1911 words - 8 pages

Leading Property Companies in Hong Kong, such as San Hung Kai Properties and Henderson Land Development Company Ltd are one of the sectors that are most influenced and profitable in this city. Holding a majority of lands, buildings and much capital, these firms have been a major concern of the public in regard of their influence on the society. In this essay, different views on the corporate social responsibility (CSR) are examined and justified using the shareholders theory and stakeholders theory of CSR.

Background Information of Leading Property Companies

In general, the term leading property companies are often referred to the three largest property developers in Hong Kong, the San Hung Kai Properties (San Hung Kai) and Henderson Land Development Company Ltd (Henderson) and Chueng Kong Properties (Chueng Kong), which have seemingly achieved a dominance in both the property market and wealth rank among local enterprises. To be detail, San Hung Kai possess about 41.9 million undeveloped total gross floor area and 44 million developed or developing investment properties (San Hun Kai, 2013), while those of Henderson are 19.8 million and 2.4 million respectively (Henderson, 2013). On the other hand, Cheung Kong holds 0.3 million developed investment properties and unknown amount of undeveloped land (Poon,2010).

Companies' Actions Regarding CSR

Along with the huge profit gained recently, these firms have also recognized the recent trend of corporate social responsibility, and have taken related actions. For instance, San Hung Kai engages actively in green buildings, social well-being of its employees and sustainable development. Specifically, it establishes “Building Homes with Heart” Caring Initiative to provide assistance to households facing difficulties due to natural disasters (San Hun Kai, 2013). The other firm, Henderson, provide an immense support on the government's “Bless HK” Campaign by funding for various events of it. Moreover, it has initiated many projects of sustainable buildings, which have achieved excellent result in the HK BEAM award (Henderson, 2013). On the other hand, Cheung Kong has been supporting numerous charities in Hong Kong, being the top3 donor Community Chest for 14 consecutive years. It also participates actively in reducing energy use and carbon footprint for a better environment (Cheung Kong, 2012).

In the following paragraph, these companies' action are evaluated under the principle of shareholders and stakeholders theory of CSR.

Comments on the Above Actions Regarding CSR

The first perspective with which to look at is the shareholder theory of CSR, which is highlighted with Milton Friedmen's famous view of CSR. In his publication, he stated that "there is one and only one social responsibility of business -– to use its resources and engage in activities designed to increase its profits...” provided that the business is operated in fair competition (Friedman, 1970). It is noted that the...

Find Another Essay On Corporate Social Responsibility of Leading Property Companies in Hong Kong

Corporate Social Responsibility in Organizations Essay

894 words - 4 pages tap into building credibility into Corporate Social Responsibility. There are many effortless ways to find leverage to build employee relationships and firmly impact the communities surrounding the company and employees. The fundamental key to this growth are the models that are used in enacting the engagement. The models used in the article found in the California Management Review are transactional, relational, and developmental. All of these

Corporate Social Responsibility in Business Essay

1948 words - 8 pages are two kinds of responsibility in a company - commercial and social (Frost, personal communication, 2003). Commercial responsibilities involve running a business successfully, generating profit and satisfying shareholder expectations. Social responsibility on the other hand is being aware of the issues being presented in the community and the working environment. CSR is not a new concept. Some companies have always acknowledged a "wider

Fallacies of Corporate Social Responsibility

2181 words - 9 pages FALLACIES OF CORPORATE SOCIAL RESPONSIBILITY INTRODUCTION In a contemporary world, a business-society relationship has evolved well beyond a simple business model to a much broader - socially responsible - corporate stewardship. As of this result, Corporate Social Responsibility (CSR) emerged as a concept that encourages companies to be ethical and responsible with the environment it operates in so as to wider impact on society. Though, CSR is

An Investigation of Language in Hong Kong

1382 words - 6 pages Study. UK: Multilingual Matters Ltd. Hermann, J. (1987). Bilingualism versus identity: Bilingualism in society and school, 5, 227- 231. Pannu, J. K. (1994). Code-mixing in a trilingual speech community: Indian adolescents in Hong Kong. Unpublished MA Thesis. Department of English. City University of Hong Kong. Pennington, C. M. (2013). EN5461 Language in Its Social Context. Lecture Note: Week 7, Language in Hong Kong and China. Department of

Homosexuality in Hong Kong

1807 words - 7 pages social context of Hong Kong and the attitudes gays and lesbians are likely to hold about their sexual orientation are very different from those of previous generations. However, this is not proper to indicate that the homosexual minority, which consists of 6 to 10 percent of population in Hong Kong society (Ammon, 2002), has had an equal position as other residents. (Some of the homosexuals encountered barriers and discriminations towards

Prostitution in Hong Kong

2547 words - 10 pages . Being a sex worker in Hong Kong becomes socially isolated since no colleagues is allowed, no friends is allowed in more extreme cases. The social stigma, especially the whore stigma, (Pheterson, 1996) from the society make these group of people feel shame (Scambler, 2007) and they do not want to share to their families or others (Kong, 2006). It is not about the nature of the work (Kong, 2003). Last, supporting from the government is relatively

Obesity in Hong Kong

706 words - 3 pages 1. Introduction: In Hong Kong, the problem of obesity is quite serious. According to the Population Health Survey 2003/2004 commissioned by The Department of Health, around 18% of the population aged 15 and above were overweight and around a quarter of the population were obese. [1] In spite of this, in order to tackle this problem effectively, the causes of the problem will be evaluated and the different preventative measures will be suggested

Hong Kong In 2051

1303 words - 5 pages transport as its network reaches every corner of Hong Kong. Apart from this, the monorail is fast and has a large carrying capacity, so there is not reason for not using it.Before I knew it, I am already heading towards the tree-planting site. This campaign has been going on for more than one year already, and we are now beginning to see the fruit of our hard work. I could never imagine Central becoming so ¡¥green¡¦ in the

The Industrialization and Social Developments of Hong Kong

1748 words - 7 pages War II era leading to structural reforms in economics, social, and political arena. The tumultuous yet illustrious history of Hong Kong led to its unique social and industrial developments, largely formulating its current economic dynamics. The Hong Kong economy had a significant impact on the People's Republic of China (PRC) economy because it served as a major entry point to the country with major ports. Therefore, the post-war

Corporate Social Responsibility of BP in Gulf Oil Spill

2026 words - 8 pages explosion, leakage and pollution and a series of accidents brought huge losses and serious effect for people life, the property of the company, and even the local people's life. However, the whole process of BP PLC dealing with the incident, in technical measures, reaction speed or even incident response taken was a success. The ethic issue refracted in this incident focuses on the corporate social responsibility, what I will talk about here in this

History of Hong Kong

782 words - 3 pages "Tourism and the Hong Kong economy" is basically describing the relations between the tourism and economy in Hong Kong. There are many different resources can cause the influence on economy by tourism, such as, the export of services, industries, and policy etc. The present monograph introduces the issues, the source markets which how they affect the tourism. Also analysis of the economic impact of tourism and addresses the strategic importance

Similar Essays

Coporate Social Responsibility Of Leading Property Companies In Hong Kong

1647 words - 7 pages Leading Property Companies in Hong Kong, such as San Hung Kai Properties and Henderson Land Development Comapny Ltd are one of the sectors that are most influencing and profitable in this city. Holding a majority of lands, buildings and much capital, these firms have been being a major concern of the public in regard of their influence on the society. In this essay, differnet views on the coporate social responsibility (CSR) are examinated and

Analysis Of Cosmetic Retail Companies In Hong Kong

2964 words - 12 pages won “Top 10 Prestigious Corporate Brand Awards” and “PRC Consumers' Most Favorable Hong Kong Brands“ , while Colourmix won gold award of the “most favorable Hong Kong Brands” during 2009 to 2013 and Bonjour won the “Hong Kong Top Service Brand” award. These reveal those companies has already established a strong brand reputation in most Mainland and Hong Kong customers’ mind. Moreover, these companies have joined the quality tourism services

The Relationship Between Corporate Governance And Earnings Quality Of Hong Kong Listed Company

1779 words - 7 pages governance mechanisms directly. Therefore, what corporate governance and earnings quality in Hong Kong listed companies will show what relationship?Earnings Quality term is widely used in the accounting circle and practice circle, it is the main quality characteristics of financial statements, including the understandability, relevance, reliability and comparability. It is the cash flow and accruals composed (Palepu, Bernard, & Healy 1997).Besides

Understanding Social Welfare Of Hong Kong

1450 words - 6 pages Understanding Social Welfare of Hong Kong Hong Kong has a unique history, governing system and economy. These three unique features are crucial to an understanding of the social welfare in the territory. In this essay, I will illustrate the development of social welfare in Hong Kong during different periods. At the end of the paper, I would take a look at the changing attitude of Hong Kong people towards the social