The Corporate Governance Model and Corporate Social Responsibility Assignment

The Corporate Governance Model and Corporate Social Responsibility (CSR) Practices of Walmart - Assignment Example This research will begin with the statement that it will be instantly approved if one states that the concept of corporate governance has existed since the existence of any form of organization. The idea of corporate governance serves as a model that encompasses the means through which organizations prepare their conduct of business conduct. Over the recent past, the term corporate governance has come to the vanguard of public attention largely due to the ongoing issues related to governance that have cropped up both at the national level as well as the economic level where it concerns the organization. At the same time governing bodies have also stated the importance of considering the needs and determinants of the society while conducting business. As has been mentioned by Adrian Cadbury, the best way of explaining social responsibility is to state that the sustained prevalence of organizations is supported by a mutual accord between the organization and the community. Sir Adrian C adbury has also argued that the core meaning of the agreement between the business and the society is that organizations should not go after achieving their immediate profit making objectives by compromising with long-term needs and requirements of the community. Therefore it can be seen that corporate social responsibility has gradually become an integral aspect of the mainstream corporate governance. The US being a free market economy has proven to be one of the most favorable business locations for not only the home country organizations but for companies based in other countries as well. However, the institutional and regulatory environment can become very daunting for the businesses that have been established here. The last two decades have been witness to various catastrophic events that not only questioned the integrity of the companies which were involved in those events but also highlighted the loopholes that existed within the US institutional environment. The WorldCom and Enron failure, as well as the financial crisis in 2007-08, revealed the ineffectiveness of the US institutional environment. It is after the unfolding of such catastrophic incidents that the US regulatory and governing bodies decided to make manifold changes in their institutional framework.

Business Essay Example | Topics and Well Written Essays - 500 words - 16

Business - Essay Example e symptoms that Mendez is experiencing: tight financial position, increasing expenses, high employee turnover, and requests to increase salary are all manifestations of a deeper problem: the lack of appropriate promotions and advertising strategies for his chain of dry cleaner stores. There was no mention of any efforts placed by Mendez on promotions, which is one of the 4Ps in marketing. 1. Status Quo. Mendez could do nothing and wait for hell to break lose. By doing nothing the following advantages would be derived: no additional costs to be incurred. However, the disadvantages are: continued losses, high employee turnover, possibility of closing more stores, demotivated employees, and high overhead costs. 2. Promote the Chain of Dry Cleaner Stores. This option could still be subdivided into two categories: (1) traditional and conservative promotion and advertisement in mediums which would cater to the local community; or (2) invest on technological improvements such as going web-based in promoting and advertising their services. Traditional or Conservative Promotional Efforts would entail lesser costs since the promotional activities and advertising efforts would be tailored to the local community only. Mendez could initially run promotion through giving discounts for bulk laundry and giving coupons for frequent customers. He can also advertise in local radio, newspapers or magazines of the services they offer and the promotional campaign being instigated. This option could initially be implemented by Mendez coupled with developing training and maintenance of employees. In doing so, employees would feel more secure and would have something to look forward to in terms of development of skills and future prospects. Investing in Web-based Technology is an attractive option if Mendez financial position can support and sustain the growth. It would promote his services on a wider scale and thereby increase clientele and market share. However, this alternative is