...Research on Toyota CSR Toyota is one of the largest car manufacturing multinational corporations in the modern world, it is necessary to underline that in recent years, it has become the leading automaker replacing the original world leader General Motors which has stayed on the first position for several decades. According to Akio Toyoda, the president of Toyota Motor Corporation, “the success of Toyota is due to the unchanging mission, which is to contribute to society through the production of safe and reliable vehicles” (Sustainability report 2010. p.2), Toyota, has been regarded as one of the top 500 companies in the world for a long time, and it has developed a trusted brand based on quality, good performance and for being environmentally friendly. They are holding a firm faith of CSR policy, which is to contribute towards sustainable development. August 2008, Toyota revised its CSR POLICY: Contribution towards Sustainable Development that takes into consideration Toyota's relations with stakeholders. In addition to applying this policy to all of its consolidated subsidiaries throughout the world, Toyota expects its business partners to also support its principles. (Sustainability report 2010. p. 8) In order to contribute to sustainable development, they believe that management interacting with its stakeholders is considerable importance. Based on “Customer First” philosophy, Toyota localizes their products to fit particular market in different countries. They successfully...
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...Humen resourse ASSESSMENT COVER SHEET |Student’s name |(Surname) |(Given names) | |ID number | |Phone | | |Unit name | |Unit code | | t Note: If this is a group assignment, please include the names of all other group members. |Title of assignment | | |Lecturer/tutor | | |Is this an authorised group assignment? Yes No | |Has any part of this assignment been previously submitted as part of another unit/course? Yes No | |Tutorial/laboratory day & time | | |Due date |Date submitted ...
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...To what extent is CSR beneficial to a company’s performance? Corporate social responsibilities (CSR) and its influences on business success has been a controversial topic over the last few decades but it is not until 1988 was CSR officially stated in the Malcolm Baldrige Criteria for Performance Excellence (Foote, Gaffney & Evans, 2010). Proponents point out that socially-responsible company will be more likely to be financially successful, while critics contend that CSR is contradictory to the most innate characteristic of business, which is to strive for profit. In fact, there are numerous approaches to CSR, but the term is generally defined as the sustained commitment to pursue business growth ethically while generating comprehensive improvement on the living standard of society (Holme & Watts, 2000). This paper is going to uncover the impact of CSR on business performance by examining its potential benefits on sustainability, revenue generation and feasibility for corporations in various scales. First of all, implementation of CSR tends to make the company more sustainable. According to the World Business Council for Sustainable Development, “CSR contributes to the long-term prosperity of companies and ultimately its survival” (Holme & Watts, 2000, p.3). For example, Toyota, being one of the world’s leading car producers, has committed to environmental responsibility in many areas. In particular, having anticipated the finite nature of fossil fuels and with the...
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...primary “responsibility” of business has only been finding ways to increase money which in turn would increase shareholder value. To put it differently, Corporate Financial Responsibility has been the driving force of most business, if not all. However, in the recent decade the driving force was redefined as Corporate Social Responsibility, which covers all social, financial and environmental responsibilities. 1.1 Corporate Social Responsibility Sir Geoffrey Chandler defines corporate social responsibility (CSR) as conducting transparent business practices that are based on ethical values, compliance with legal requirement, and respect for people, communities, and the environment. According to the Social Responsibility of the Businessman, CSR is defined as “the obligations of business to pursue those policies, to make those decisions or to follow those lines of action which are desirable in terms of the objectives and values of our society” (Bowen, 1953). 2.0 The potential of CSR in creating sustainable development The previous driving force had a great potential of exploiting the sustainability of this world at large. This is solely because when a company’s only purpose is to maximize profit at any economic, environmental or social cost. According to the Brundtland report sustainable development is interpreted as the development that meets the needs of the present without compromising the ability of future generations to meet their own needs. The definition given by Brundtland...
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...Introduction 1. Definition of key terms 1) Corporate Social Responsibility CSR refers to operating a business in a manner that accounts for the social and environmental impact created by the business. CSR means a commitment to developing policies that integrate responsible practices into daily business operations, and to reporting on progress made toward implementing these practices. According to Business for Social Responsibility (BSR), corporate social responsibility is defined as“achieving commercial success in ways that honor ethical values and respect people, communities, and the natural environment.” 2) Lean accounting Lean Accounting is the general term used for the changes required to a company's accounting, control, measurement, and management processes to support lean manufacturing and lean thinking. II. Corporate Social Responsibility The field of corporate social responsibility has grown exponentially in the last decade. More than half of the Fortune 1000 companies issue corporate social responsibility (CSR) reports. A larger number of companies than at any time previous are engaged in a serious effort to define and integrate CSR into all aspects of their businesses. An increasing number of shareholders, analysts, regulators, activists, labor unions, employees, community organizations, and news media are asking companies to be accountable for an ever-changing set of CSR issues. 1. Economy First of all, accountants accurately prepare company’s...
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...CORPORATE SOCIAL RESPONSIBILITY SUSTAINABILITY- A CRITIQUE Outline What is CSR? What do w e mean by sustainability? Critique OCEANIC Bank’s Story What is CSR Corporate Social Responsibility and Sustainability can be defined as a company's verifiable commitment to operating in an economically, socially and environmentally sustainable manner that is transparent and increasingly satisfying to its stakeholders. Stakeholders include investors, customers, employees, business partners, local communities, the environment and society. The emphasis is on transparent and verifiable stakeholder driven business operation delivering optimised sustainability performance and associated competitive advantage. Sustainable business operation means addressing the needs of present stakeholders while seeking to protect, support and enhance the human and natural resources that will be needed by future stakeholders. CSR describes the principle that companies can and should make a positive contribution to society. CSR is the practice of managing the social, environmental and economic impacts of the company, being responsive to 'stakeholders' (those who are affected by a business operation) and behaving according to a set of values which are not codified in law. In practice the term can refer to a wide range of actions that companies may take, from donating to charity to reducing carbon emissions. By CSR here we refer to the practice of major companies, rather than 'ethical pioneers': smaller...
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...Committee Basic Approach to Internal Controls Business Continuity Management (BCM) at Toyota Risk Organization Risk management system Improve risk management Creation of the Emergency Operation Centre Creation of Global Large-Scale Disaster Countermeasure Committee Improving information telecommunication system in case of an emergency CSR Management Organizational Culture If you were hired as an Advisor: What recommendations or changes would you make? How would you implement these recommendations or changes? What are the company’s mission and current strategies? Toyota has for mission to be the first choice for all customers looking for materials handling solutions and to be widely recognized for their innovative products and services with a total respect for society. Toyota tries to build trust and confidence with their customers by delivering outstanding quality products and services which ass real value to their businesses. Toyota respects the expectations and ambitions of employees, stakeholders and suppliers through a constant search to improve. Toyota aims to achieve long-term and stable growth in harmony with the environment, the global economy, the local communities it serve and its stakeholders. The impact of the high Australia dollar, new government regulations, changing customer preferences and increased product competition have impacted significantly on Toyota and have forced us to review and transform the way we do business. In addition to their...
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...Motors & Toyota Shubham Jain, BBA (2014 - 2017), IITM Janakpuri / Guru Gobind Singh Indraprastha University, Dwarka Abstract Corporate social responsibility in simple words means, “giving back to the society from where an organisation operates its functions, employ resources and satisfy human wants by offering goods and services. In today’s time, business has emerged as one of the most powerful instituitions on the earth, earning profits will be of no use until and unless the customers associated with the organisations are not happy with the company’s perspective towards helping the society. Therefore, it calls for the need of corporate social responsibility....
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...Environment Bachelor in Civil Engineering SUBJECT CODE: BUS 4053 Business Ethics Date of Submission: 11-07-2013 Lecturer’s Name: Miss Hazlina Table of contents Title Page Number Definition of CSR------------------------------------------------------------------------------------- 3 The 4 strategies---------------------------------------------------------------------------------------- 4 The Toyota Example as Proactive Corporate Social Responsibility --------------------------- 6 References --------------------------------------------------------------------------------------------------- ----------- 8 Definition of Corporate Social Responsibility Corporate social responsibility (CSR) is known under various terms used in the industry such as corporate responsibility, corporate citizenship, responsible business, sustainable responsible business or corporate social performance. In spite of some variations in some cases, they basically share the same philosophy and aim towards the same goal. The primary function of Corporate social responsibility is to act as a corporate self-regulating mechanism which in integrated entirely in the business model of a...
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...ethical and socially responsible business behaviour over the past two decades. The World Business Council for Sustainable Development has taken many initiatives to advance public’s concern about energy, climate, environment, sustainability, and corporate responsibility (Marrewijk, 2003). It defines CSR as “the commitment of business to contribute to sustainable economic development, working with employees, their families and the local communities”. As highlighted by Jamaliand Mirshak (2007), the fundamental idea of CSR is that business organizations would have an obligation to fulfil the needs of various organizational stakeholders (Waddock, Bodwell, & Graves, 2002) Corporate social responsibility (CSR) practices or initiatives have been performed by many corporations, particularly as a large number of researchers have demonstrated the benefits of being socially responsible (Berens, van Riel, & van Bruggen, 2005; Luo & Bhattacharya, 2006; Nan & Heo, 2007; Vaaland, Heide, & Gronhaug, 2008). In general, previous studies in Western developed societies have shown a positive relationship between CSR associations and corporate product evaluation. In order to really understand CSR we must root it in a broad understanding of the inter relationship between a corporation and society while at the same time anchoring it in the strategies and activities of specific companies. Successful corporations need a healthy society, while a healthy society needs successful companies, since...
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...Assignment Title: Environment & Human rights Company: Toyota Date Submitted: 04/04/2016 Tutorial Day: THURSDAY Tutorial Time: 1630-1830 Word Count 1526 Words Environment and Human Rights A research of Toyota’s social responsibility and performances Nowadays, how a business gaining profit is not only receiving and taking from the society but giving back to the community as well. By organizations participating in Go-Green activities or sponsoring charity event are example of an act of giving back to the community (Kayla Matthews 2015). Milton Friedman proclaimed that “The social responsibility of business is to increase its profits” (Milton Friedman 1970), and has wide-ranging of benefits well beyond the economic profits only. But why don’t more organizations to join and invest in CSR program because the financial benefits from it are hard to measure and they chose to become a benefit organization to satisfy the profits return to their shareholders. In the end of 2015, Toyota beaten Volkswagen and remain world’s largest automobile manufacturer (Bertel Schmitt 2015). Toyota motor corporation is a Japan-based company that mainly involved in automobile business and established in 1936 with its founder Kiichiro Toyoda (Toyota.com). Until today Toyota produce 10 million vehicles per year, 300 thousand of employees and reached a capital of 400 billion yen (Toyota.com). As a well-known...
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...Executive Summary This report will introduce Toyota company of business ethics, in the first part, the report described the definition of business ethics, and then introduced the environmental scanning method and PEST and concretely introduces the Toyota company's ethical dilemma, how to solve this problem, from the Angle of moral evaluation, the whole situation based on different kinds of ethical theory, business ethics from the perspective of moral comprehensive understanding of the problem, and then to carry on the analysis. Making companies in the society, the government, and people’s hearts set up a better image, which is beneficial to the development of the company and have more income. Hope this report from every Angle analysis Toyota company pedal events, brake event. Let the Toyota Company remember the lesson. And effectively solve it. 1.0What is business ethic? Have a lot about what is the business ethics idea, or is simple; some people think is right or wrong. Essentially, business ethics is the pursuit of truth. Can and should be regarded as for $5 and $5 $10 is equal to the initial level, the simple truth. Therefore, the businessman must provide good quality goods and service, with reasonable price to consumers' normal supply. They must avoid addicted to like adulterate unfair trade practices, promoting misleading advertising, cheating weights and measures, such as the black market, they must give fair wages and their workers provide good working conditions....
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...Date: October 25th, 2014 Memo to: Toyota Motor Corporation Subject: Executive Strategy & Assessment Executive Summary: Situation Since created Toyota Motor Corporation has focused on innovation and efficiency within its production or manufacturing facilities, and has built its success around this core competency. Recently however many of their competitors have adopted similar practices and have been able to narrow this gap significantly. For this reason these competitors are posing much more of a threat and Toyota may need to change or adjust its current strategy to deal with this problem. These competitors are also investing heavily in the emerging markets Toyota is currently trying to capitalize on. Recommendations After assessing the current strategy at Toyota there are a few recommendations I would make to help them succeed going forward. For one they may want to consider focusing less on labour productivity, as this no longer provides them with as much of a competitive advantage. They may also want to consider investing more in the emerging markets like China and Europe, as well as areas in Africa. They are currently a leader in environmentally friendly technology in the industry, and they should put more emphasis on this because it is becoming more and more important. This is also a great way to separate themselves from competitors. Key Evidence Some of the key evidence to support this involves productivity measures and various manufacturing...
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...than for corporate social responsibility associations, varies across brands and markets, and is strongly related to brand recommendations. Examining cross-national brand performance and halo perceptions can help international marketing managers understand key perceptual similarities and differences between and across markets, which can inform strategic considerations such as whether to pursue global, panregional, or national branding, positioning, and advertising strategies. Keywords: constrained components analysis, associative network models, automatic activation theory, branding and brand management, marketing standardization/adaptation, corporate social responsibility The strategic importance of corporate social respon- sibility (CSR) and associated initiatives continues unabated despite the recent economic downturn. Corporate leaders such as General Electric chief execu- tive officer Jeffrey Immelt argue that transparency, accountability, and strategic engagement with govern- ment will become increasingly essential (Warhurst 2008). A 2009 McKinsey survey of more than...
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...CORPORATE SOCIAL RESPONSIBILITY SUMMARY REPORT 2010 1 2 UMW HOLDINGS BERHAD CORPORATE SOCIAL RESPONSIBILITY SUMMARY REPORT 2010 3 CONTENT 02 04 - 05 06 - 07 08 09 - 11 12 - 14 15 - 18 19 - 21 22 - 23 24 - 26 27 - 31 32 RATIONALE PRESIDENT'S STATEMENT UMW STRUCTURE OUR ECONOMIC FOOTPRINT AWARDS RECEIVED WORKPLACE MARKETPLACE ENVIRONMENT COMMUNITY PERFORMANCE DATA PROFILE DISCLOSURE FEEDBACK AND COMMENTS ABOUT THIS REPORT UMW’s Corporate Social Responsibility Report supplements our other publications, including the Group Annual Report, our internal staff magazine “U”, regular media releases and investor updates, as well as our Group and divisional websites. This report is also a follow-up to the Group’s maiden CSR report, launched in 2008. The report brings together the Group’s economic, social and environmental performance from 2007 to 2009. We have also included some information for 2010 which was available before the collection deadline. The report covers the entire UMW Group, and those subsidiaries that are included in Group consolidated financial statements. In the Environment section of this report, we have particularly concentrated on our Automotive Division, as it is the Group’s largest profit contributor and accounts for around 60% of our physical assets and 70% of our workforce. We have also included relevant environmental data from our other divisions, to provide a more complete picture of the Group’s environmental initiatives and performance. "Corporate Responsibility...
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