Based on the on the interview with the entrepreneur of ABC investments, it has come to a reality that the case of CSR is a primary issue I the entire business venture and development. The information derived from the CSR reports could be useful in the management of an organization in some ways (Acs, Estrin, Mickiewicz & Szerb, 2018). First, the data is significant in the creation of corporate value in the organization in one way or the other. The process of involving the stakeholders in this issue includes both the informal and the formal techniques that a company utilizes to stay connected to the stakeholders therein. The stakeholders always have the capability of influencing the success or failure of the firm depending on the levels concerned (Lee, 2018). The primary objective of the stakeholder engagement is to build explicit relationships with the stakeholders to help in making it better in the comprehension of the concerns and the perspectives on main issues affecting the firm. Such responsibility includes the enabling of the well-informed board of management in the overall decision-making process. The process is at the incorporating of the strategies into the corporate welfare of the firm to help in recognition of the specific values linked to the stakeholder involvement in the entire process.
The interviewee claimed that an active stakeholder involvement would enhance the modes of business intelligence and assists boards in clear and viable decision-making process. The process would also ensure that business risks are reduced or avoided based on the better articulation of the business intelligence services. The involving of stakeholders would also provide the development and expansion of the business opportunities, reputation, and increased brand value. The process would bring diverse ideas together to help in the facilitation of the innovation issues in the firm of which aids in the driving of the long-term sustainability and the increased shareholder value (Acs, Estrin, Mickiewicz & Szerb, 2018). The process of CSR involvement helps in the increasing of the activities of the shareholders in the firm. Shareholder activities related to events on the CSR based on the social and environmental issues are often on the rise with the necessity for further engagement between companies and the stakeholders and shareholders.
He went ahead to say that the transformations on the political revolutions are based on the lobbying disclosures. By the year 2012, the single most significant number of E & S cases that were submitted was on the political issues in the year 2013. The ISS reported that there was a notable development during the same year proxy season based on the increased number of proposals in the diverse physical environment of the firms (Dodgson, 2018). Consequently, the activities of the shareholders on the CSR issues continued to rise as it gave benefits to the companies in their process of effectively getting involved on topics such as proactive discussions on the stakeholder concerns. The companies are in a position to avert the potential cost and the prolonged fight for the proxy. The same initiative would be significant in the building of the relationships existing between companies and the relevant stakeholders.
As a matter of fact in the growth of the business he had to accept the fact that the process of generating the CSR reports is very appropriate in that it provides the firms with the opportunity to help in the strengthening of the business thoughts and ideas. The CSR report focuses on the significant areas of interaction between the stakeholders and the firm in a manner that is likely to address the issues of value addition as the central part of the strategies used by the firm. The report can influence both the corporate reputation and the consumer behaviour (Lee, 2018). Almost the entire population of consumers has the knowledge that they would be loyal to a particular firm. Based on this factor, the consumers would help in the creation of a positive image of the firm in the market and thus helps in the increasing of the competitive advantage of the firm in the ever-transforming competitive market.
On further organizational analysis, the CSR reports tend to transform the orientations in the business systems from short-term to the long-term goals that would also end up in the maximization of the profits in the same business in one way or the other. The same reports are the channels of reliable communication in the firm. Most of the CSR stories that give such benefits are often inclined to the voluntary basis of the arguments therein especially those touching on the data on the financial stability of the firm. The report is also very significant in handling the relationship between the firm and the external environment and thus brings out the spirit of sustainability within the operations of the firm (Dodgson, 2018). The report then guides the firm in handling the activities that are socially responsible and in line with the needs of the customers. The story also gives the firm an opportunity to identify the opportunities and the risks that might hinder the development of the competitive advantages enjoyed by the firm in its line of operations.
In summary, the interview has adequately examined the potential determinants factors that influence the CSR practices based on the stakeholder's point of view. It is essential to understand the fact that the relevant management boards would be in a position to comprehend the fundamental environments that encompass the foreign firms that help in the promotion of the corporate citizenship in these firms in one way or the other. The factors discussed in the paper are relational issues that ouch on the motivation of the CSR behaviour to help in the globalization process in the same firms.
Acs, Z. J., Estrin, S., Mickiewicz, T., & Szerb, L. (2018). Entrepreneurship, institutional economics, and economic growth: an ecosystem perspective. Small Business Economics, 1-14.
Dodgson, M. (2018). Technological collaboration in industry: strategy, policy and internationalization in innovation. Routledge.
Lee, Y. S. (2018). Government guaranteed small business loans and regional growth. Journal of Business Venturing, 33(1), 70-83.
Cite this page
Small Business Growth and Development Essay. (2022, Jul 01). Retrieved from https://proessays.net/essays/small-business-growth-and-development-essay
If you are the original author of this essay and no longer wish to have it published on the ProEssays website, please click below to request its removal:
- Berkshire Hathaway Case Study
- Classroom Management Proposal
- Tender Application Refusal and Patel Manufacturers Procurement Manager
- Sources of Competitive Advantage of SodaStream
- Effects of the Artificial Intelligence in the Financial Sector of the US Banks
- The Economic Status of Women in the U.S. Essay
- Amazon Acquisition of Whole Foods Paper Example