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Total Responsibility Management

In: Business and Management

Submitted By arijitnayak23
Words 12789
Pages 52
Responsibility Management

2015

PGPM 2015-17 Section D
Group 9 1. Arijit Nayak (15P189) 2. Gaurav Gupta (15P199) 3. Mounica Chilla (15P209) 4. Puneeth Putcha (15P219) 5. Sarin Babu (15P229) 6. Vishal Garga (15P239)

Introduction
In today’s world of cut throat competition, business thrives on customer satisfaction. Satisfaction of the customer is based on its perception and interpretation of the product and the brand. With world of uber-fast informational age; it has become imperative for all corporate to not only manage quality but to look at collective responsibilities while doing business. This is achieved with Total Responsibility management. Total responsibility management refers to systems and procedures to ensure responsible business practices and management. It is used to describe the codes of practice and systems that organizations are developing to manage their social, environmental, and ethical responsibilities in response to pressures from stakeholders, emerging global standards, general social trends, and institutional expectations.

Need of Responsibility Management
Companies know that product or service quality affects their customer relationships and the trust customers have in the company’s products and services. So too a company’s management of its responsibilities to other constituencies affects its relationships with those other stakeholders and the natural environment. Never has it been easier for employees, reporters, activists, non-governmental organizations (NGOs), community members, the media and other critical observers to find fault with companies and their subsidiaries. A problem identified, even in a remote region or within a remote supplier, can virtually instantaneously be transmitted around the world at the click of a mouse. Stakeholders, those who are affected by or can affect the company’s

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