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MNG81001 Management Communication

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Answer

Introduction

The corporate social responsibility is important for the business organization as it supports the organizations to connect with the society. Effective corporate social responsibility or CSR strategies improve the sustainability of the business organizations. It helps in improving the reputation and brand image of the organization as presently the people are becoming more and more environmentally conscious and prefer the company which has good CSR performances. The report is on the CSR strategies of Xerox technology, which is one of the leading technology companies in the world (Appannaiah, & Reddy, 2010). However, the corporate social responsibility comprises with legal responsibilities, ethical responsibilities, economic responsibilities and the philanthropic responsibilities of an organization. The report provides the discussion on the only economic responsibility of the undertaken organization Xerox Technology. The economic responsibilities of the company are important as the company has a responsibility towards the employees, shareholders, and investors.

Main Body

Economic Responsibility of Xerox

Corporate social responsibility (CSR) is the obligation of the business organization to the society along with entire stakeholders of the organization. The stakeholders may any individual or groups of people who have stake or interest in the products and services of the company as well as in the success of the company. According to the business ethics, the business organizations have the responsibility of being profitable in order to deliver a reasonable return on the investment done by the owners of the company, as well as the investors and shareholders of the company (Annual Report, 2017). Beside this, it is also important for the economic sustainability of the business organization that the organization can be able to create jobs for the society where it operates. Apart from this, the economic responsibility within the corporate social responsibility of an organization is to provide useful goods and services to the communities with reasonable price. The definition is also clearly explaining the establishment of the relationship which is being made by showing the contribution and also the global and the sustainable economy is being identified in the form of the contribution. This is simply explaining the sustainable economy is being shown to be illustrating the relationship established in between the stakeholders. As per the analysis is being made, the business ethics must be undertaken for the development of the sound business practices and also the zero tolerance is being identified in the form of the corrupt behaviour as it is being outlined by the court of the policy. This enables in describing structures which is being explained by showing the economic contribution and also the differentiation of the stakeholders are considered in this study as it is revolving round the information related to the annual report. This is explaining the conduct as it is being made by illustrating the views which are illustrated in the form of showing the differentiation of the stakeholders. This is simply identifying the appropriate conduct which must be made for illustrating the explanations as it is showing the economic responsibilities of the company Xerox technology.

In simple words, economic responsibility means streamlining the procedures to recognize the most effective ways to carry out the business activities as well as innovative product offering plus marketing for increasing the income of the business organization. The employees of an organization are mainly interested in safe working condition within the company along with fair wages for their services or contribution to the company (Gond, & Moon, 2012). Moreover, it is the economic responsibility of the business organizations to ensure their employees for fair wages in exchange for their services and contribution to the organization. The investors and shareholders are usually concerned with the profit of the company thus they can be able to make a reasonable profit from the business operation of the company (Worthington, & Britton, 2015). Hence, it is the economic responsibility of the business organization that the company is able to make a reasonable profit so that the company can provide good returns to the investors' and shareholders money, which they invested in the organization's different projects. Apart from this, the owners of the business also have to make a profit from the business operations. The leading technology company Xerox efficiently meet all the economic responsibilities by their effective and successful business operation across the globe (Sen, 2008). As per the CSR Values are concerned, the work s showing the appropriate economic phenomenon which are easily revolving round the work and also the implications can be made in the firms and for the consumers also. This is explaining the study which is scattered in the form of the fundamental economic values which are presented for the country. This is simply explaining the maximization of the profits which is being made by showing the social stakeholders and also the maximization of the profit is being made by showing the management of the strategic levels and also the stakeholders preferences are conducted by showing the constitution of the moral hazards. It is simply explaining the structure in the form of the measurements and also the estimation of the CSR is being appropriate used for maximizing the profits and also the satisfaction is being made by showing the explanation of the presence which is being explained in the form of showing the stakeholder preferences. Thus it also explaining the work which is also showing the maximization of the profit and also the moral development can be appropriately established in the form of showing the estimation of the work.        

Analysis

The management team of Xerox company has put the focus on the main areas and development of the organization. The efforts are made and are not limited to community, diversity, educational and information technology and environment sustainability. The company has the responsibility towards the community, employees, and shareholders. The good corporate social responsibility is based on the commitment towards the community (Manos, &Derori, 2016). The financial report shows the performance of the company. The financial report shows that the profitability has decreased which means the management team should take steps to increase the performance of the company. The management team has to increase the returns for the shareholders, provide quality products and services and ensure the development of the employees. The company believes in promoting diversity within the workplace and the encouraging the employees to achieve their goals. The corporate social responsibility is to work for the welfare of the society and increasing their capabilities for the stakeholders (Pinnock, 2010).

The culture is based on the ethical guidelines and rules. Sustainability is the best way to carry out the business activities. The management members should take steps to increase the profitability and returns of the company. The stakeholder's analyses the financial performance of the company in order make significant decisions. The company has maintained its performance standards in order to improve the social, economic and environmental impact of the business activities. The economic profits are important for the stakeholders of the company.  The company had a commitment to maintain a progressive environment that values all ways of cultural differences, new perspectives, and thinking. The company has depicted leadership by supporting community and educational projects all around the world (Pinnock, 2012). The sustainable development of the company is based on taking care of the communities. The company has invested more than $15 million in each year to support the initiatives which include internships, scholarships, programs and research grants. However, the management team should focus on generating returns for the shareholders and following the rules and regulations. The management has to implement strategies to increase the efficiency of the company (Czinkota, Ronkainen, & Moffett, 2011). This is showing the explanation of the work which is being described to be showing the appropriate management of the work and also the explanation is being made by showing the empirical issues with showing the management of the work. This is simply explaining the estimations and also the management of the stakeholders can be easily made by illustrating the benefits as it is being made by showing the explanation of the work. This is explaining the estimation of the CSR is being analyzed by illustrating the incentives and also the mechanism can be easily structured by showing the development of the work.                     

Conclusion

The economic responsibility is one of the most important corporate social responsibilities of the business organization, and the entire business organizations have to meet the economic responsibilities along with other responsibilities such as legal responsibility, ethical responsibility, and philanthropic responsibility in order to sustain in this society. The economic responsibility of the business organization mainly concerned with the employees, investors, shareholders and owners of the organizations (Zu, 2009). The organizations have to meet the financial need of their employees, investors, shareholders and owners as per the organization economic responsibility. The multinational company Xerox efficiently meet its economic responsibilities by effective business operation of the organization.      

References

Annual Report. (2017). Retrieved 26 May 2017, from https://www.xerox.com/annual-report-2016/pdfs/Xerox-2016-Annual-Report.pdf

Appannaiah, P., & Reddy, D. (2010). Business Management. Himalaya Publishing House.

Gond, J., & Moon, J. (2012). Corporate social responsibility. London [u.a.]: Routledge.

Manos, R., &Derori, I. (2016). Corporate responsibility. Basingstoke, Hampshire: Palgrave Macmillan.

Pinnock, A. (2010). Business studies. Claremont [Cape Town]: The Answer.

Pinnock, A. (2012). Business studies. Claremont [Cape Town]: The Answer.

Sen, M. (2008). Business Management. New Delhi: Global Media Publications.

Zu, L. (2009). Corporate Social Responsibility, Corporate Restructuring and Firm's Performance. Berlin, Heidelberg: Springer-Verlag Berlin Heidelberg.

Czinkota, M., Ronkainen, I., & Moffett, M. (2011). International business. Hoboken (N.J.): Wiley.

Worthington, I., & Britton, C. (2015). The business environment. Harlow, England: Pearson.

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