Development Across the Lifespan Chapter 10 Flashcard

Development Across the Lifespan Chapter 10

Financial benefits of corporate social responsibility The WritePass Journal

Financial benefits of corporate social responsibility Financial benefits of corporate social responsibility ; a response to colleague feedback and one that featured few, but relevant question. The survey was done by ORC International, an independent research company and it gave a confidential means for every staff member to air their views on their feelings about working at the airline firm. This survey according to British Airways (2013), attained a response rate compared to none. The airline company was pleased with the response as there was an indication that an overwhelming number of employees were committed and proud in the airline. In 2013, British Airways established a partnership with the University of Glamorgan. Through this partnership, students in the Aircraft Maintenance Engineering department will be given an opportunity to receive industry-standard training that will be incorporated in their BSc degree, and this will be done at the British Airways facility in Cardiff  (British Airways, 2013). This is consistent with Turban and Greening (1996) claim that Large companies go to considerable lengths to get potential graduate recruits by showing their CSR credentials. Nonetheless, in this partnership, engineering staff at British Airways will also get a rare opportunity to study academic modules from the institution at both undergraduate and postgraduate level  (British Airways, 2013). The airline claims that, by 2012, there were 50 new graduates introduced to its operations  (British Airways, 2013). It further claims that graduates are important for the airline’s long term plans and alumni from this partnership scheme are many in the company. Furthermore, this scheme has been in operation for little over five years, and this is consistent with British Airways history of recruiting and developing graduates; most of the senior positions in the company are held by these alumni  (British Airways, 2013). In addition, there is a statistical significant correlation between employee loyalty and a company’s CSR rating among t hose employees who are ethical  (Bevan et al., 2004). British Airways has taken this as an option for it sustainability agenda, employees who are satisfied result in customers who are satisfied and ultimately to higher revenue  (Rucci et al., 1998). This is creative capitalism as British Airways can not claim to be socially responsible, it is done to benefit the company(Kerr, 2009) CSR and Efficiency British Airways CSR principles are built on environmental issues such as carbon efficiency, elimination of emissions, noise reduction, and recycling  (British Airways, 2013). This is an indication that the company is committed through practice to these principles. It is obvious that, with such a commitment, it would definitely have an improved operational efficiency and cost savings as a benefit. This begs the question, whether this CSR is genuine? According to Khanifar et al., (2012 ), in this commercial era, businesses are under pressure to play an active role in society, but this is not for the society, most companies have intelligently used this opportunity to gain publicity and enhance their revenue. It is evident that the British Airways is a leader in the implementation of a responsible approach in regard to the effects of aviation on the environment.   However, it claims that this approach is not only important for the environment; it is the ideal approach in saving on co st considering the economic hardship marked with high fuel costs  (British Airways, 2013). This calls for efficient management approach and continuous examination of the operational process; this is a sure way of conserving energy as well as turning waste into revenue. British Airways (2012), claims through its CSR report that it made an operating profit of  £274 million, in addition to maintaining non-fuel costs flat. CSR and Partnerships In addition, CSR is an ideal way of improving business connections, there is always the possibility of the emergence of meaningful, long term partnerships. British Airways partnership with Solena Fuels Corporation is one such partnership as a result of its CSR agenda. The two companies are establishing a bio-jet facility, the first one in Europe and one that will propel the planes in the near future  (British Airways, 2013). This has opened a new channel from which the airline will source sustainable fuel at market competitive rates. In addition, British Airways CSR has created synergies; in 2012, it successfully made cost synergies one of its partners in the industry, airline Iberia. This was an indication that British Airways had done better in its revenue synergy targets for the second year. Flammer (2013), claims that CSR is a mgnet that attracts business from customers as well as shareholders. Consequently, British Airways raised its revenue and cost target to 560 million Euro s from 500 million Euros in 2011, where it delivered the cost and revenue synergy worth 13 million Euros  (British Airways, 2012). Conclusion British Airways with its strong, distinct and elaborate CSR makes it stand out among its competitors. It appears that, with this well laid out CSR agenda, it is a major component of the airline’s business plan. The company has defied all odds despite the recent economic difficulties and protected its resource level in order to maintain its commitment to this important activity. However, evidence suggests that CSR is not just giving back to the community, but also runs a performance agenda. Most of the people working at the management levels are alumni of a scheme started by British Airways as a CSR activity. In addition, the airline has partners who have continually provided it with direct financial benefits such as Solen. British Airways has taken advantage of its CSR to strengthen its position in the market. Bibliography Anttila, T. Kretzschmar, A., 2010. Application of CSR Programs in the Airline Industry. International Business. Bevan, S., Isles, N., Emery, P. Hoskins, T., 2004. Achieving high performance CSR at the heart of business. London: The Work Foundation. British Airways, 2012. Corporate Responsibility Report 2012. [Online] British Airways Available at: onedestination.co.uk/wp-content/uploads/BA_CRR_Full_Report.pdf [Accessed 20 December 2013]. British Airways, 2013. British airways social environmental policy. [Online] British Airways Available at: britishairways.com/cms/masterEN/content/company_information/ community_and_environmental/social_and_environment_policy.pdf [Accessed 19 December 2013]. Flammer, C., 2013. Does Corporate Social Responsibility Lead to Superior Financial Performance? A Regression Discontinuity Approach. MIT Sloan School of Management . Kerr, J.E., 2009. The Creative Capitalism Spectrum: Evaluating Corporate Social Responsibility Through a Legal Lens Abstrac. Social Science . Khanifar, H., Nazari, K., Emami, M. Soltani, H.A., 2012. Impacts Corporate Social Responsibility Activities on Company Financial Performance. Interdisciplinary Journal Of Contemporary Research In Business, 3(9). Krukowska, E., 2013. Global Emissions Plan for Airlines Gets First UN Approval. Bloomberg , 04 October. Rucci, A.J., Kirn, S. Quinn, R.T., 1998. The employee-customer-profit chain at Sears. Harvard Business Review, pp.83-97. Turban, D.B. Greening, D.W., 1996. Corporate social performance and organisational attractiveness to prospective employees. Academy of Management Journal, 40(3), pp.658-72.

Will Paper Based Books Survive or will the E-media completely Replace Essay

Will Paper Based Books Survive or will the E-media completely Replace Paper Media - Essay Example In addition, the passion of e-books can be mainly observed among the young generations of the countries as compared to others. It is predominantly due to the introduction of varied electronic gadgets such as iPad, tablet and kindle. Moreover, it also spotlights, varied benefits which it offers to its publishers, booksellers, authors and customers. In addition, the report also depicts that emergence of e-books and e-readers would replace the paper books in the future markets. Table of Contents Executive Summary 2 Table of Contents 3 Introduction 4 Critical Analysis of e-Books and e-Readers 5 Market Analysis of e-Books and e-Readers 5 Customer Needs and Wants from e-books and e-readers 6 Value Chain Analysis From Author To Reader 7 Conclusion and Recommendations 9 Strategic Analysis of the Future Direction of This Market 9 References 10 Bibliography 13 Introduction In this era of globalisation and industrialisation, the passion of e-books and e-readers has increased at a rapid pace. Th is is due to the emergence of information technology (IT) in the universities and colleges all over the world. Moreover, due to the increased passion of internet mainly among the young generation of varied countries, the craze for e-books and e-readers has improved by a large extent. The term ‘e-book’ can be referred to electronic book or digital book which can be viewed with the help of electronic media. It mainly comprises texts, images and information similar to paper books. Besides, the digital or e-books are rather more efficient and effective in utilisation. Furthermore, with the help of digital books, varied old but valuable books or journals can be utilised for the purpose of reading in order to enhance the learning and knowledge of individuals (Miller, 2009). On the other hand, paper printed books may not be available always for the customers or students, which might create an intricate situation. Thus, due to the emergence of e-media, the numbers of e-books ar e increasing thereby enhancing the amount of the e-readers (Deangelo, 2011). Apart from these, the passion of e-books is mainly observed in case of a particular section of individuals i.e. youth among others, which is quite noteworthy. Moreover, this strategy or concept also augmented the satisfaction and contentment of the readers as it can be accessed at any point of time. Still, paper books are recognised as one of the most efficient assets of both modern as well as previous times. The report mainly highlights the impact of e-media over the paper-books. Furthermore, it also attempts to identify the benefits and the advantages of utilisation of e-books rather than paper-books in this age of globalisation. In addition, it also spotlights varied aspects related to the increased passion for e-books among a specific section of individuals i.e. youth. The report is divided into three sections namely introduction, critical analysis of e-books and e-readers along with conclusion and reco mmendations. Critical Analysis of e-Books and e-Readers Market Analysis of e-Books and e-Readers A market segment is referred to the classification of a particular group of customers consisting of certain definite characteristics along with uniform demands and requirements. It also attempts to recognise certain specific qualities such as quality, price and design among others. The passion of e-books has highly increased among the young generation of varied countries namely Southern Africa and the United Kingdom (Advertising Forecast, 2011). This is due to the fact the craze of internet is increasing mainly among the young generations of the countries within the age group (10 to 35 years), which is quite beneficial and detrimental as well. The passion is