Example Of Essay On Corporate And Social Responsibility

Being profit oriented, such corporations are aimed at maximising the revenue, thus they are force for good in society in terms of the economic perspective. There is a direct correlation between the amount of profit and the amount taxes for-profit corporations pay. At the same time, any commercial organization is interested in a long-term presence in the market. The sustainable development and the current profitability of an organization are those factors that shape its economic potential along with successful adaptation to change. The higher the potential of for-profit organization, the higher may be the results of its operations, and thus their impact on society as the whole.
Modern market behavior rules require commercial organizations to ensure coherence of financial management measures at all levels. The effectiveness of their implementation is largely determined by competitive and strategic position occupied by a particular entity in the market. Achieving the optimal structure of financial resources is realized through adequate management in the overall management system. Each for-profit corporation needs to develop their own policies in view of their development strategy. However, the maximum efficiency and effectiveness of financial management can be achieved, as the result of a systematic approach, and the rational combination of strategic and tactical measures.
For-profit corporations tend to realize their full economic potential, as well as to find ways to improve their practical relevance. The successful development of any commercial organization in the face of fierce competition is directly connected with its efficiency for the society. In this regard, this is largely determined by the capacity of understanding the nature, structure and the factors affecting it. Apparently, for-profit organizations are interested in long-term presence on the market. Competition takes place not merely between the products and services, but also between the alternative directions of development of commercial organizations that ensure effective interaction with customers. The attractiveness of a commercial organization is the result of interaction between the process of sale and the process of maintaining its competitiveness. World experience has shown that for-profit organizations do not pay enough attention to this interaction.
For-profit corporation cannot be a force for good if management has not developed cost-effective mechanisms to respond to changes in the marketing environment. It should be noted that there is the need for improving the integrative role of marketing as well as choosing the right direction and improving the attractiveness in order to obtain a competitive advantage. It is proved that the positive culture of a for-profit enterprise tends to increase the effectiveness of innovation processes. In particular, corporate culture that focuses on the free exchange of information, knowledge and technology management is a force for good in society.
A crucial aspect of the justification of the commercial organization's development strategy is to fulfil its mission and ensure strategic outlook of business prospects. This is increasingly associated with the prospective management activities of an organization, and its adaptation to the dynamic conditions of the external market environment. Thus, the systematic understanding of strategic financial and economic objectives contribute to maximization of the market value of an organization. The impact of for-profit corporation’s activities is inextricably connected with the level of business quality, as well as the available volume of financial and non-financial information. Due to the increasing importance of social responsibility, various participants of economic relations should take into consideration the preferences of modern society and make them truly useful for people.