Today in the time of globalization more and more companies face the challenges. Organizations all over the world are tending to focus their attention not only on earning money but on improving their reputation on the business agenda and in customers’ eyes, while providing their employees with satisfactory working conditions. In this case the term Corporate Social Responsibility (CSR) occurs.
Corporate Social Responsibility was initially connected to the notion of charity, however, it had only private character. Today corporate charity is being managed mainly by the leaders of that company. As the scale of industrial activity increased the issues related to the field of social responsibility in business has gradually expanded.
Corporate Social Responsibility is the responsibility of the organization for its actions and decisions in social and environmental issues through transparent and ethical behavior (Forbes.com, 2016). CSR promotes sustainable development including healthcare and prosperity of the society, counts the expectations of the stakeholders, reconciles international norms of action. The main purpose of CSR is to achieve sustainable development goals by which are meant the needs of the present generation without jeopardizing the needs of future generations. Corporate social responsibility should consider the interests and enhance the quality of life of the main interested parties in companies that include employees, shareholders, investors, public authorities, customers, business partners, professional community, etc. At the same time several companies have to develop a permanent interacting with stakeholders in order to take account their opinions and expectations during the process of adoption and realization of decisions.
CSR principles should be implemented in the company in a systematic manner and be integrated in all business processes. While making decisions companies should take into consideration not only economic but also social and environmental factors that enabling them to control the influence of their activities on society and the environment and be accountable for them. At the same time, it is important for companies to understand that CSR is not an optional addition to their main activity and is not limited to philanthropy. Adherence to the principles of social responsibility contributes to more efficient achievement by the companies of their strategic purposes, as it allows to carry out long-term investment in the creation of a favorable social environment. Thus, business realizes its core needs for survival, safety and stability.
Performance management may include activities that guarantee that objectives are reliably being met in a successful and productive way. Performance management can concentrate on the execution of an association, a department, employee, or even the procedures to create an item or administration, and additionally numerous different regions.
Overseeing employee or system performance and adjusting their targets encourages the successful conveyance of vital and operational objectives. A few defenders contend that there is an unmistakable and quick relationship between utilizing performance management programs or programming and enhanced business and authoritative results (Business News Daily, 2015). In the general population segment, the impacts of execution administration frameworks have contrasted from positive to negative, recommending that distinctions in the attributes of performance management frameworks and the connections into which they are actualized assume a vital part to the achievement or disappointment of performance management.
For employee performance management, utilizing coordinated programming, instead of a spreadsheet based recording framework, might convey a critical rate of profitability through a scope of immediate and backhanded deals advantages, operational proficiency advantages and by opening the idle potential in each representatives work day (i.e. the time they spend not for their job).
Ethical and respectful performance management system is one of the key components on the company’s way to success. When doing business internationally and/or with international staff members it is important to avoid stereotypes and first impression judgment (Hrcouncil.ca, 2016). If a person is not making an eye contact it does not mean that he/she is not listening or participating in the discussion. Making effective communication is a challenging process, when many aspects should be taken into account. Most of people will eagerly tell a lot about their culture, their traditions if asked. Correctly chosen approach to an employee is the key to an effective communication despite any cultural differences.
Modern world is the place where cultural boundaries are spanned, that is why companies that are operating on the international level should have profound knowledge and information about the representatives of different countries as well as they should know their traditions and culture. Finding approach to every employee according to their cultural specific will facilitate the process of communication with them, moreover, it will help the company reach its goals with less effort. There are as many opinions and characters as there are many people. A successful company cares about its employees, listens to them and counts every opinion. Moreover, the knowledge in global cultural differences may enrich the business life of a company and contribute to its expansion.
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Internations.org,. (2016). Cultural Differences in Business. Retrieved 23 January 2016, from https://www.internations.org/magazine/cultural-differences-in-business-15308
Forbes.com,. (2016). Forbes Welcome. Retrieved 23 January 2016, from http://www.forbes.com/sites/devinthorpe/2013/05/18/why-csr-the-benefits-of-corporate-social-responsibility-will-move-you-to-act/#283fcfe05e1c
Business News Daily,. (2015). What is Corporate Social Responsibility?. Retrieved 23 January 2016, from http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html
Hrcouncil.ca,. (2016). Performance Management | Keeping the Right People | HR Toolkit | hrcouncil.ca. Retrieved 23 January 2016, from http://hrcouncil.ca/hr-toolkit/keeping-people-performance-management.cfm