Corporate Social Responsibility: Impact, Strategy, and Stakeholder Engagement
Understanding Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is a critical aspect of modern business. It encompasses how companies manage their business processes to produce an overall positive impact on society.
Key Factors Driving CSR Importance
- Poor business behavior towards customers.
- Treating employees unfairly.
- Ignoring the environmental consequences of organizational actions.
- Significant impact on reputation.
Core Principles of CSR
- Giving back to society what society
Strategic Human Resource Planning and Talent Acquisition
Key Elements of Human Resource Planning
HR planning is the process of forecasting employment needs. The process involves:
- Assessing current employment levels
- Predicting future needs
- Planning for internal movement
- Predicting external hiring needs
Even for externally oriented companies, it is more convenient to look internally before seeking external candidates.
Characteristics of Organizations That Attract Recruits
The four general characteristics that attract applicants to organizations are:
Familiarity
Organizations
Entrepreneurship Essentials: Concepts, Strategies, and Business Setup
What is Entrepreneurship?
Entrepreneurship is the process of designing, launching, and running a new business, which often initially is a small business. The people who create these businesses are called **entrepreneurs**. It involves identifying a need or opportunity and then marshalling resources (financial, human, intellectual) to bring a new venture to life. Entrepreneurship is characterized by innovation, risk-taking, and a strong drive to succeed. It’s not just about starting a business; it’
Read MoreUnderstanding Your Payslip: A Comprehensive Breakdown
Understanding Your Payslip
A payslip, also called a wage slip, is the document delivered to workers with their wages. It specifies each of the earnings, as well as deductions.
Header of Wage
The header includes information such as:
- Category or occupational group: Workers are classified into different occupational groups according to the functions performed and the qualifications or knowledge acquired in their profession.
- Quotation group: All workers are included in one of eleven groups for social security
Strategic Marketing Essentials: Pricing, Product, and Communication
Price as a Strategic Business Variable
Price is a key factor in business strategy, significantly influencing revenue, profitability, and competitiveness.
Key factors influencing price include:
- Operating costs
- Demand and supply balance
- Competition
- Customer perception
- Shipping costs
Effective pricing also influences product positioning, customer segmentation, and overall revenue generation.
Understanding Price Elasticity of Demand (PED)
Price Elasticity of Demand (PED) measures how demand for a product or service
Read MoreInternational Business Expansion: Strategies & Market Entry
Understanding International Business Entities
International Company: An exclusively exporting or importing company typically does not have significant investments in other countries.
Multinational Company: Companies that operate in several countries, where each country has its own rules, but all are governed by a common overarching entity.
Transnational Company: Companies with headquarters in their country of origin and subsidiaries in several other countries, with these subsidiaries depending on the
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