Responsible Management in a Competitive Market - Essay Example

In a global marketplace that is constantly churning, the aspect of understanding the fundamental connections between business, the environment, and society is becoming more essential than it was some years back.

The responsibilities and roles of businesses as forces around the globe are becoming more urgent and complex the concepts relating to the responsibility and sustainability of society are on the verge of gaining recognition as being business management essential elements. Responsibility management goes beyond the traditional l ways of “do good” or discretionary activities that are with philanthropy and volunteerism. It involves taking the citizens involved in corporate affairs seriously and central part of the company’s development and implementation of any business model.

From this perspective, responsible management can be said to be involved with the creation and building of trusting relationships with important stakeholders including employees, customers, and communities. It ensures that the company or the organization's impacts on the stakeholders are positive rather than negative despite the power differences that may be in existence in the company. Responsible management, therefore, works to see a reduction in the negative impact of the activities of the corporates and ensure that mutually beneficial practices and interactional ways are developed.

In today’s business, every manager knows that the need to satisfy the customers by meeting the quality demands of the services and products forms part of a critical component of the success of any business. No business can survive the market competition without being criticized at one point or another. Because these organizations and companies have impacts on their stakeholders and the natural environment; some of these impacts created by the companies do undoubtedly create concerns among some stakeholders. However, how much a company operates efficiently, problems do arise. This happens particularly in cases where the company decides to barge mindlessly ahead with decisions that affect its employees, communities, suppliers, customers, and activists.

What companies are trying to do is manage their stakeholder-related responsibilities in several ways that try to minimize the negative impacts, build trust and thereby reduce any looming criticism.  Read More