e done from the company. This is totally the proper aim as the overall guideline for all of the staff to follow. Through this, company can definitely gain the solid credibility from all the stakeholders which play the critical part for their stable & consistent development in the long run.
In general, credibility and trustability are very hard to build up, but very easy to collapse, just after 1 simple accident or incident. As such, in order to obtain the credibility, it strongly needs the consistency throughout the company in doing the right thing only. And no exemption, no room for happening the violation due to accident or incident cases. Therefore, it has been very hard to create the brand name, and even harder to maintain that brand name. In another words, the maximisation process does not focus solely on profit maximisation, for it involes such things as augmenting reputation, which can be seen as the most important intangible asset of a company.Firms have economic incentives to have a good reputation in communities. A company might decline to take on a project that despite being potentially profitable, might alienate the local or wider community and lead to the entity being derided and see its reputation diminish.
Through this statement, we can quickly imagine the target of Marks&Spencer top management is that, whenever stakeholders think of Marks&Spencer, they can trust that Marks&Spencer do the right thing with having the consistent, profitable growth.
Although,the common statement for business running is that 'no risk, no profit'. However, the firms should it be managing its portfolio so as to achieve the highest value added for its stakeholders. (George S. Oldfield Anthony M. Santomero)Freeman et al., (2004) suggest that the most recent series of corporate scandals all took place under the veil of shareholder value maximisation. Focusing upon a single objective in a complex and uncertain business world leads to shorttermism and a misguided association with firm performance. They argue that a stakeholder perspective encourages managers to accept their wider responsibilities and the complex moral environment in which they operate.
An example to illustrate for running business without pay attention to stakeholders' interest, VEDAN VIET NAM which is a company under Vedan Group-Taiwan operating plants and facilities include MSG plant, starch and glucose syrup plant, Modified Starch plant, chlor-alkali plant, lysine plant, had caused environmental devastation by polluting the river for 14 years with up to 105.6 million liters of untreated wastewater per month. The toxic water killed farmers' fish and shrimp abd ruined farmland along the river's bank. At this result, Vedan was forced to compensate for farmers in Dong Nai district, HCMC's Can Gio District and Ba Ria-Vung Tau Province, Viet nam nearly VND219.3 billion.(The amounts equal those calculated by the HCMC environment institute.)
Therefore, as the business establishment, it is regular that company has to take risk to run their business to get profit. However, the key point to help them exist and develop their business is that how they properly control the risk; and set it at the 'acceptable risk' only, so then they can obtain the reward herewith profits; and then the shareholder value respectively.
And we can find Marks&Spencer's cores value are 'Quality, Value, Servi
本论文由英语论文网提供整理,提供论文代写,英语论文代写,代写论文,代写英语论文,代写留学生论文,代写英文论文,留学生论文代写相关核心关键词搜索。