Key to a Sustainable Enterprise Each relationship is an intangible asset of the business. As any accountant will tell you, assets can either appreciate or depreciate or hold their value.
Stakeholder groups impose demands that translate to corporate social responsibilities, which influence firm performance. Considering the continued high value of its brand, Apple effectively accounts for stakeholders in its strategies and policies.
Apple has a firm and holistic approach in addressing the interests of stakeholder groups significant to the business. These stakeholder groups compel Apple to improve, and Apple affects them by satisfying their interests.
These interests highlight the need for a holistic approach in corporate social responsibility efforts, which Apple already uses in its aims to satisfy major stakeholder groups. Stakeholder groups impose varying demands in different aspects of business.
Apple prioritizes customers as its top stakeholders in devising corporate social responsibility strategies. This stakeholder group is composed of individual and organizational buyers of Apple products. The main interest of customers is to have effective and efficient products that are reasonably priced.
Apple products have higher price points.
The main interests of these stakeholders are proper compensation and career development. The firm addresses the interests of its employees through compensation packages competitive in Silicon Valley.
Investors are typically major stakeholders and determinants of corporate social responsibility programs in businesses.
A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. There are two different types of stakeholders; internal and external. Internal stakeholders are groups within the business e.g owner/workers and employees. Most companies envy the passionate loyalty that Apple customers have for their products, the dedication that Southwest Airlines employees demonstrate without understanding that . Stakeholder groups impose demands that translate to corporate social responsibilities, which influence firm performance. In Apple’s case, stakeholders significantly affect the business in terms of customer perception and sales revenues.
The company effectively addresses this stakeholder group through excellent financial performance. For example, Apple is now one of the most profitable companies in the world. The firm maintains high profit margins.
Apple also has a strong financial position, which involves high liquidity through large amounts of cash. The company has also managed to avoid debt.
Based on these corporate social responsibility conditions, Apple effectively satisfies the interests of investors as stakeholders. Employees of Suppliers and Distributors. Also, this stakeholder group is interested in ethical employment practices.
To address these interests, Apple has a Supplier Code of Conduct. The company monitors and imposes requirements on the employment practices of firms in its supply chain. The company satisfies the interests of customers, Apple employees, and investors. However, Apple has the opportunity to improve its corporate social responsibility performance in addressing the interests of the workers of firms in its supply chain.
Imposing rules on suppliers is difficult, considering differences in organizational contexts. However, Apple has the power to compel suppliers to comply with its Supplier Code of Conduct.
Voluntary nonfinancial disclosure and the cost of equity capital: The initiation of corporate social responsibility reporting. How stakeholders view stakeholders as CSR motivators. Corporate social responsibility theories: Corporate reputation and CSR reporting to stakeholders: Gaps in the literature and future lines of research.
Copyright by Panmore Institute - All rights reserved. Educators, Researchers, and Students:For any business organization, stakeholders are of importance and are acknowledged as a person or group that has an investment, share, or interest in the business.
This encompasses the shareholders as well as other individuals who are directly affected by the business. Apple Inc.’s employees are.
When it comes to engaging stakeholders, employees are at the top of many corporate sustainability managers’ agendas. Some 73 percent of companies are engaging employees across their organization educating them about corporate sustainability goals, according to a GreenBiz survey.
Stakeholders Influencing the Purpose of Apple and British Heart Foundation Words | 6 Pages. Task 2 is to describe the different stakeholders that influence the purpose of Apple and British Heart Foundation.
A stakeholder is a person or group that has an investment, share, or interest in something, as a business or industry. Engaging and Influencing Stakeholders. February 17, by Colin Gautrey.
|Apple’s Stakeholder Groups||Customers, employees, communities and business partners are among key stakeholder groups that carry weight in company decisions and activities.|
|Stakeholder engagement secrets from Apple, Levi's and Wrigley | GreenBiz||A stakeholder is defined as a person or group that has an investment, share, or interest in something, as a business or industry. This is not just limited to someone who has purchased stock in a company, which is defined as a shareholder.|
Stakeholders are important people who share an interest in your success. You need to engage with them at the right time so that you can influence them as easily as possible. Stakeholder influence doesn’t just happen; you have to make it happen. Most companies envy the passionate loyalty that Apple customers have for their products, the dedication that Southwest Airlines employees demonstrate without understanding that .
Stakeholders have increased influence on company business activities in the early 21st century as community citizenship and social responsibility have been consistently integrated into business.