Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Comparison of socially responsible business of Nokia and Ranbaxy - Term Paper Example

Comments (0) Cite this document
This paper demonstrates the corporate of social responsibility initiatives taken up by Nokia and Ranbaxy,  analyses their areas of business, the policies behind the corporate social responsibilities. And also identifies the means of measuring the effectiveness of the Corporate Social Responsibility…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER94.9% of users find it useful
Comparison of socially responsible business of Nokia and Ranbaxy
Read TextPreview

Extract of sample "Comparison of socially responsible business of Nokia and Ranbaxy"

Download file to see previous pages As per Stakeholder Salience Theory, the companies should take into account all those groups that have a stake in the company. This approach was given by Donaldson and Preston in the year 1995. Later on, this same approach was used to introduce the concept of corporate social responsibility. As per Mitchell and its associates (1997) “Within the stakeholder salience theory, power, legitimacy, and urgency are independent attributes of stakeholders used to define the company’s relation to these groups” (Winkler 2009, p.5). The power factor defines the share of influence possessed by the stakeholder in the company. The next term is legitimacy that expresses the authenticity or legitimate position of the stakeholder in the organization. The last component is the urgency that explains the urgency faced by the management in handling different matters related to the stakeholders of the company. This component also expresses the relation of the stakeholders with the management. Using these three factors the stakeholders can be segregated as internal as well as external stakeholders. The internal stakeholders include the management and the employees of the company whereas the external stakeholders are customers, suppliers, government, society and also the environment. In the later part, the Corporate Social Responsibility policy followed by both the companies (Nokia and Ranbaxy) will be discussed.
At Nokia, Corporate Social Responsibility is known as corporate responsibility. In order to make its Corporate Social Responsibility ventures more fruitful, Nokia believes in having a system where its policies regarding sustainability and similar activities are inbuilt in their operating system. It has defined its code of conduct and value system as ‘Nokia Way’ (Nokia, n.d.).
It has different outlined policies for its suppliers, employees, and customers. The company works with different NGOs for improving the social condition of different nations where it has its operation. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(Comparison of socially responsible business of Nokia and Ranbaxy Term Paper, n.d.)
Comparison of socially responsible business of Nokia and Ranbaxy Term Paper. Retrieved from
(Comparison of Socially Responsible Business of Nokia and Ranbaxy Term Paper)
Comparison of Socially Responsible Business of Nokia and Ranbaxy Term Paper.
“Comparison of Socially Responsible Business of Nokia and Ranbaxy Term Paper”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Comparison of socially responsible business of Nokia and Ranbaxy

Socially Responsible Investing

...? Case Study: Socially Responsible Investing The uncertain nature of the world has prompted investors to think beyond the statistics represented by the stock prices and the balance sheet. An emerging criterion in evaluating a company fit for investing in is quickly gaining ground. This concept is known as sustainable responsible investing, and it involves evaluating the company on the basis of social responsibilities. As a result, investors seek information on how a company rates in terms of GRI and ESG factors. The rating companies thus consider several factors when rating the companies in terms of ESG and GRI in order to ensure that they provide accurate and viable information to the investors. One of the factors considered... ...
2 Pages(500 words)Case Study

What is a federal grant

8 Pages(2000 words)Case Study

Socially Responsible Procurement Programme

...TABLE OF CONTENTS CONTENTS PAGE NO Introduction 2 Corporate social responsibility and procurement programmes 2 3 Socially responsible procurement programme requirements 4 a) Objectives 5 b) Framework for the programme 5 c) Few flaws in the programme 6 4 Levels of socially responsible procurement 6 5 Examples 7 a) IAG 8 b) National wood flooring association 8 c) Bank Group 9 d) University of Michigan 10 e) British petroleum BP 10 6 Conclusion 11 SOCIALLY RESPONSIBLE PROCUREMENT PROGRAMME 1) Introduction In today's era the businesses have started participating actively in both corporate and social affairs regarding work and employee selection. Socially responsible procurement programme is a framework of measurable... and...
9 Pages(2250 words)Essay

Can any business afford to be socially responsible

...Can any business afford to be socially responsible? Unit: Group number: Introduction Few persons would deny today that the social, political, economic and many other aspects concerning modern culture are significantly changing. Business men and women of today may like or dislike some of these changes; however these changes exist and must be faced by the business people in the world today. The microeconomics principle that this paper is based on is the principle of social responsibility. This paper is a detailed report of a research project to determine if any business affords to be...
2 Pages(500 words)Research Paper

Local Businesses That Are Socially Responsible

...Local Businesses that are Socially Responsible: Starbucks Identify a business in your community that is practicingsome form of social responsibility Starbucks has reportedly established as much as 17,244 stores worldwide (The New York Times). Its official website clearly indicates that in 2012 it has again been included for the sixth consecutive year as one of the World’s Most Ethical Companies as awarded by the Ethisphere Institute (Starbucks Corporation). Likewise, the organization was also awarded as one of the World’s Most Admired Companies with a ranking of 5 from among the top 50 in best in social...
1 Pages(250 words)Assignment

Socially Responsible Companies in Europe

...Socially responsible companies in Europe Corporate social responsibility is simply a form of self-regulations that companies get to integrate into their ethical codes (Barth & Wolff, 2009). In this case, the business monitors its compliance to international laws, the spirit of law and ethical standards. The business seeks to promote positive activities on the environmental, employee, community and consumer since they are regarded as the stake holders of the company. Most companies have taken this into account in the present business world because it directly influences the productivity and profitability of the company....
3 Pages(750 words)Research Paper

Stakeholder exercise for socially responsible companies

...Teacher List 3 major stakeholder groups that it socially responsible to . Describe each of the stakeholder groups and how the company is responsible to that group. Give a few examples of how the company is socially responsible to that group. Explain your answer. The company chosen is Starbucks which is considered as one of the most ethical companies in the world (, 2012) . The 3 major stakeholders it is socially responsible to are its consumers, stockholders and the future generation. It is socially responsible to its customers by giving excellent products that are...
2 Pages(500 words)Research Paper

Socially Responsible Investing

...), 11–35. McLachlan, J & Gardner, J.(2004) “A Comparison of Socially Responsible and Conventional Investors.” Journal of Business Ethics, 52(5), 11–25. Mill, G. A. (2006). “The Financial Performance of a Socially Responsible Investment over Time and a Possible Link with Corporate Social Responsibility.” Journal of Business Ethics, 63(1), 131–148 Nava A, et al. (2005). "Adam Smith, Behavioral Economist," Journal of Economic Perspectives, 19(3), 142-145. Tenbrunsel, A. E & Smith C.C. (2008). “Ethical Decision Making: Where we’ve been and Where We’re Going.” Academy of Management Annals....
7 Pages(1750 words)Research Paper

Socially Responsible Investing

...objectives: (1) Limitation of socially responsible funds when choosing companies will be a starting point. For example, SRI dislikes some business, including tobacco, alcohol and so on and prefers activities and companies that have positive impact to the society. These can be regarded as a limitation to SRI.  (2) Representative socially responsible funds will be selected and analyzed concerning their annual return and share prices, which is regarded as the performance of them. (3) A comparison between the financial performance of socially responsible funds and funds of other types will be launched by...
42 Pages(10500 words)Coursework

Corporate Social Responsibility: Socially Responsible and Ethical in Doing Business

... Introduction / Abstract Corporate social responsibility (CSR for short; will be used interchangeably in this paper) is the need for a corporation to be socially responsible and ethical in doing business. Specifically, when making executive decisions, those in charge of corporations must take into account the environment, their workers, and the community at large – not just the profit involved. Not only do they keep from adding more problems to the community, they also show that their corporation has a conscience – which, in the long run, will attract customers and business partners. For instance, an entrepreneur wishing to have a mall constructed must consider the people who could be displaced by his endeavor (especially true... if the...
8 Pages(2000 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Comparison of socially responsible business of Nokia and Ranbaxy for FREE!

Contact Us