''In this complex world compagnies have objectives that are not Essay

''In this complex world compagnies have objectives that are not stricly economic'' Discuss - Essay Example Societal demands on new roles for companies on societal needs are forcing companies to think beyond any traditional philanthropy that they were engaged in to company objectives that are not strictly economic. Traditional philanthropy may be viewed as the only times when companies deviated from spending their resources without real tangible returns to their coffers. This was however limited to activities towards their employees or in a minimal manner to the society or societies in which they operated. The complex dimension that has arisen for companies is the demand from societies that they need to show more concern for the societies in which they operate. Such a perspective is reflected in the call of the United Nations for companies around the world to be aware and show adopt more socially oriented objectives as they explore opportunities (Magee, 2007). With the concept of globalization and the global village become more of a reality than a considered possibility actions of companies oriented towards economic concerns with societal detrimental effects have a means of spreading to all corners of the globe, which has made the societal demands for responsibility from companies more strident. This has led to the concept of corporate social responsibility, wherein companies become aware of the needs of maintaining the environment in which they operate and assistance to societal needs and are encouraged to incorporate them among the objectives of the company. This has resulted in environment orientation, social buying, and social advertisements as examples of the incorporation of non-economic criterion being incorporated in company objectives (Drumwright & Murphy, 2001). Since the last decade of the twentieth the concept of corporate greening, wherein companies have become more aware and concerned about their environmental responsibilities and have shown the tendency to incorporate this non-economic criterion among their objectives has attracted a lot

Managerial Economics - Questions Essay Example | Topics and Well Written Essays - 750 words

Managerial Economics - Questions - Essay Example 2. Advertising – advertising your own business requires a lot of money since it is expensive. However, franchisees do not need to worry about advertising their business because advertisement campaigns are already included in the fee that was paid by the franchisee and when the mother company advertises its products it normally carries all franchise outlets. 3. Name Recognition – most consumers nowadays buy products with brand names since it gives an assurance of quality. Most franchise outlets carry the name of well known companies with branded products that are trusted by consumers, and so they often patronize franchises. 4. Reputation – a franchisee also enjoys the protected reputation of the franchisor because lawsuits and other legalities, which may occur, would be taken care of the franchisor’s legal department. Franchisors will always look after their franchises in order to maintain their good status. 5. Support – when an individual invests in a franchise he is given the full support by the franchisor by providing technical know-how, skill, training in accounting and equipment. Support is always given to attain elevated success ratios in order to be able to sell more franchises. Corporate culture is the organization’s way of life and is an important factor in the success of an organizational architecture. Organizational architecture mainly survives in a corporate culture which possesses the following qualities (Blumenthal, n.d.): a) A team that functions as one; b) Has information sharing policy; c) Values the growth and success of its personnel; d) Puts more importance to consistency rather than hi-tech demarcation; e) Observes and respects authority; f) Measures performance output through hands-on management and is more on result-oriented people. By properly analyzing the corporate way of life, the organization architecture would be able to appraise the essential factors that