Social responsibility in finance decision making Essay - 2

Social responsibility in finance decision making - Essay Example cture, McDonalds focuses its attention to putting its customers, processes, and practices into place to better the society through better food, people that are more contented, a stronger community, and an improved planet. This report explores McDonalds’ Corporate Social Responsibility approach in finance decision making. McDonalds, the worlds foremost global food service trader, takes its environmental and social obligation to the society considerably seriously, considering the CSR strategies it partakes. The company consults with customers, suppliers, sustainability experts and socially responsible organizations to ensure that its CSR strategies are in lieu with the current century and societal goals. It collaborates with other organizations to develop global principles that support purchase of raw materials from verified sustainable sources. This paper explores McDonald’s practices, their harm to the society, and CSR initiatives it has taken to promote its corporate image. In as much as a company seeks to make profit in a sustainable approach, there are always times when they inflict harm on one or more of its stakeholders for profit making. McDonalds faces criticism for the level of nutrition in its food, which is largely high fat, high cholesterol, low fiber diet. It also receives criticism for the effects of advertisements on the minds of children, and the environmental effects of its restaurants on the environment. Considering McDonalds is among the world’s leading companies it has the financial and legal muscle to silence its critics and limits free speech against its operations (Blasio, 2008). Apart from that, workers claim exploitation in several instances, especially in branches comprised of underprivileged people. Workers receive low wages, and understaffing also occurs, as the company seeks to maximize on profits. Worst of all, its aggressive practices push several small food outlets out of business (Brazelton, Ellis, Macedo, Shader, and Suslow,

Understanding public relations theory Essay Example | Topics and Well Written Essays - 1500 words

Understanding public relations theory - Essay Example Change Management Communication In addition, the role of mass media as an agent of communicating organizational intentions and promotion of interest can also not be ignored by organizations. Overall, the understanding and appreciation of the various approaches, theories and other related concepts of public relations is important in tackling of issues or concerns that may arise from daily operations. In response to this, this paper will examine the role of public relations practice in organizations. For applicability, the paper has identified the issue of change management communication in organizations. This will be examined through a selected article about an organization that is likely to be affected by the subject matter of discussions in this paper. The paper will discuss the components of the article that make it a media issue as well as a public relations issue. The article under examination pertains to Boral Company that operates in the building and construction industry. The company’s new chief execu tive having taken the reign in the top leadership has been tasked with a challenge of ensuring that the company’s financial results improve as a result in an economy downfall that has affected the construction industry in which the company operates in. One of the measures that the chief executive has been compelled to take after a 100 day review is through initiating a 700 job cut program targeting management and back office staff. Even though the move is likely to cost the company a massive 60 million dollars, if successfully implemented it has been projected to result to an annual saving of about 90 million dollars. However, the major issue that arises from this situation is that of how to effectively manage this drastic change especially by communicating the intended purposes and criteria for such changes to the stakeholders of the company that will be largely affected by this decision (Hayes, 2006). Consequently, the main purpose of the following discussions will be to an alyze the contributions that public relations, which can be stated to be constituted of communication with external and internal publics, and communication management, can make in managing organizational change during an employee retrenchment exercise. The framework that will be used to analyze the situation at Boral will be in terms of a dual examination of the issue in terms of being a media as well as a public relations issue. To begin, as a media issue, the organization needs to be prepared to tackle several issues so that the image of the firm remains intact in the eyes of the public. The media plays a major role in shaping opinions and the issue of job cuts proposed by the new chief executive can result into an image backlash if not well handled. It is the job of the public relations professionals and the department in charge of the area affected, in this case the board of governors through the chief executive officer and to some extent the human resources, to learn the facts and information needed, and communicate it to the targeted audiences in a timely and effective manner. The organization's reputation and credibility with external and internal audience is at stake. This is because tackling the issue of job cuts at a time when the economy is hard an issue for the whole nation is a sensitive and important issue. Whatever is communicated internally and externally will remain forever on