Marks and Spencerís ethical approach Free essay! Download now
Home > University > Business studies > Marks and Spencerís ethical approach
Marks and Spencerís ethical approach
You can download this essay for free. All you need to do is register and submit at least one of your essays to us.
Or you can purchase this essay for just $2 instantly without registering
Downloads to date:
| Words: 3695 | Submitted: 13-Mar-2012
98.1% | Number of pages: 13 | Filetype: Word .doc
This is what the first 3 pages of the essay look like
DescriptionMARKS AND SPENCERS ETHICAL APPROACH
Marks and Spencerís ethical approach
Task 1 Ė the need of serving public interest by business organisations
Corporate Social Responsibility
Task 2 Ė the range of competing business objectives for business organisations
The limitations of short termism
Relationship with wide range of stakeholders
Task 3 Ė the role of Marks and Spencer as moral agent
Information and consultation procedures
Marks & Spencer is one of the UKís leading retailers, with over 21 million people visiting their stores every week. M&S offers high quality clothing and home products, as well as outstanding quality foods, responsibly sourced from around 2,000 suppliers globally. M&S employs over 78,000 people in the UK and abroad, and have over 700 UK stores, plus an expanding international business.
The company was founded in 1884 by a partnership between Michael Marks, a Litvak Jew from Slonim, Poland (now in Belarus), and Thomas Spencer, a cashier from Yorkshire.
Marks & Spencer made in 1998 over £1 billion pre-tax profit as 1st retailer in UK and is listed on London Stock Exchange.
CORPORATE SOCIAL RESPONSIBILITY
Corporate social responsibility (CSR) is a form of corporate self-regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby businesses monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. The goal of CSR is to embrace responsibility for the company's actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere.
ISO 26000 is the recognized international standard for CSR. Public sector organizations adhere to the triple bottom line (TBL). It is widely accepted that CSR adheres to similar principles but with no formal act of legislation. The UN has developed the Principles for Responsible Investment as guidelines for investing entities.
An approach for CSR that is becoming more widely accepted is a community-based development approach. In this approach, corporations work with local communities to better themselves. For example, Marks and Spencer is active in community through the building of a trade network with the community - guaranteeing regular fair trade purchases.
A more common approach of CSR is philanthropy. This includes monetary donations and aid given to local organizations and impoverished communities in developing countries. Some organizations do not like this approach as it does not help build on the skills of the local people, whereas community-based development generally leads to more sustainable development.
Another approach to CSR is to incorporate the CSR strategy directly into the business strategy of an organization. For instance, procurement of Fair Trade tea and coffee has been adopted by various businesses including M&S.
Different king of approach is garnering increasing corporate responsibility interest. This ...
Download this essay in full now!
Just upload at one of your essays to our database and instantly download your selection! Registration takes seconds
Comments and reviews
Reviews are written by members who have downloaded the essay
No comments yet. If you download the essay you can review it afterwards.