What does the notion of legitimacy and social contract...

What does the notion of legitimacy and social contract have to do with corporate disclosure policies? Introduction In recent years, corporations have increasingly used their annual reports to voluntarily report information relating to their social actions, particularly those concerning the natural environment (Gray et al.1995). More specifically, corporations have been changing their disclosure policy towards the triple bottom line reporting, where in addition to economic performance, social and environmental issues of the companys performance are given (Deegan 2002). This has drawn the attention of researchers, and a number of theories have been postulated as to why companies disclose such information. According to Deegan and Rankin†¦show more content†¦The organisations have no natural right to these benefits, and in order to allow their existence, society would expect the benefits to exceed the costs to society. The society allows the corporation to operate as long as it meets their expectations. Again considering the Legitimacy Theory, the organisation should consider the rights of t he public at large, not merely those of its investors. If the company fails to meet these expectations, the society would react by imposing sanctions, for example legal restrictions or high taxes, fines, demand reduction of the companys products, eliminating the supply for labour and financial capital top the business. Heard and Bolce (1981) argue that with such high social expectations, a successful corporation would react and attend to the environmental and social consequences of their activities. Thus, organisations would take various actions to ensure that their operations are perceived legitimate. They will attempt to establish congruence between the social values associated with or implied by their activities and the norms of acceptable behaviour in the larger social system of which they are part (Dowling and Pfeffer, p.110). M. Garcial-Ayuso et al. (1998) suggest three conditions to be fulfilled in order for legitimacy theory to represent a consistent basis for the analysis and understanding ofShow MoreRelated3101AFE Seminar Questions from Seminars 1 6 Sem 1 20151558 Words   |  7 Pageshow they prepare financial statements, would you have developed a positive theory or a normative theory? QUESTION 2 - Question 1.3: What is a conceptual framework, and would it be considered to be a positive or a normative theory of accounting? QUESTION 3 – Question 1.27 (NEW): The International Accounting Standards Board has a number of roles, including formulating accounting standards and developing a conceptual framework. Is the work they do in developing an accounting standard or the conceptualRead MoreSustainability And Integrated Financial Reporting Of Australian List Firms2376 Words   |  10 Pagesthey disclose in their Sustainability Report. Firstly, determine how do three companies are accountable for their sustainability issues. Second, find out any major incidents three companies have experienced during FY2013 and explain how they address the incidents. Then, discuss any type of theories that can be applied to explain about the incidents three companies had. Finally, explain how the companies address social and health issues, as well as all of environment matters. Read Moreaccounting theory Essay1980 Words   |  8 Pagesï » ¿3101AFE Accounting Theory and Practice Tutorial Questions for Tutorials 1- 6: Semester 2 2014 TUTORIAL 1 - Semester 2 2014 Deegan Topic 1: Introduction to financial accounting theory QUESTION 1 - Question 1.8: What is the difference between developing a theory by induction and developing a theory by deduction? QUESTION 2 - Question 1.9: Is the study of financial accounting theory a waste of time for accounting students? Explain your answer. QUESTION 3 - Question 1.26: Would youRead MoreCPA 118 ETHICS NOTES6292 Words   |  26 Pagesare irrelevant †¢ The important is the intention to do the right thing or the motivation to behave appropriately flowing from a sense of duty. One dose the right thing simply because it is the right thing to do regardless the consequences Egoism †¢ A right or acceptable decision is one that maximises net positive benefits to oneself. †¢ Can be restricted if self-interest is pursued within the law and fair competition †¢ Utilitarianism †¢ Does not focus on oneself †¢ A right decision is one thatRead Moreaccounting theory5620 Words   |  23 Pagesaccounting theory 1.1   What is the difference between a positive theory of accounting and a normative theory of accounting? 1.6   The IASB and the FASB are currently developing a revised conceptual framework of financial reporting. If you have been asked to review the framework—which is an example of a normative theory of accounting—why would it be important for you to pay particular attention to how the objective of financial reporting is defined within the framework? 1.8 What is the differenceRead MoreThe Business Case for Corporate Social Responsibility: a Review of Concepts, Research and Practice15551 Words   |  63 PagesInternational Journal of Management Reviews (2010) DOI: 10.1111/j.1468-2370.2009.00275.x The Business Case for Corporate Social Responsibility: A Review of Concepts, Research and Practice ijmr_275 85..106 Archie B. Carroll and Kareem M. Shabana1 Director, Nonproï ¬ t Management Community Service Program Robert W. Scherer Professor Emeritus, Department of Management, Terry College of Business, University of Georgia, Athens, GA 30602, USA, and 1 Assistant Professor of Management, School ofRead MoreCorporate Social Responsibility2536 Words   |  11 PagesCorporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations. The purpose of this essay is to research the notion of CSR and uncover its true framework and outline what socialRead More Corporate Social Responsibility Essay2477 Words   |  10 PagesCorporate Social Responsibility Corporate Social Responsibility (CSR) is a very controversial topic. A question that has been debated for the past few decades is; is it corporately viable to introduce social responsibility as a proposed addition to the work ethic of business organisations. As well as, if adopting the framework of corporate social responsibility would yield positive improvements for those organisations. The purpose of this essay is to research the notion of CSR and uncoverRead MorePrivate Sector vs Public Sector Accounting3812 Words   |  16 Pagescreating an important joint responsibility. This joint responsibility has recently being subject of concern and comment, from both congress and the business community. The Commission exercises strong oversight in the standard setting process and must do so in the context of complex and challenging accounting issues, some of which are viewed as extremely important in today national and international business environment. Since 1973, the Financial Accounting Standards Board (FASB) has been the designatedRead MoreCase Study Analysis of Royal Ahold Scandal7067 Words   |  29 PagesFinal exam assignment Introduction Over the last few decades there have been a number of cases of high profile corporate collapses and fraud scandals. In essence, the unethical behaviour of corporations affects us all, such as shareholders’ lost financial investments, employees who lost their jobs, other companies that provided goods and services to the company, as well as the economic impact on domestic and international communities. In this paper I will focus on the case study of Royal Ahold

Essay about Change in Perspectives the Book Thief Changes

Year 11 Assessment: Changing Perspectives RELATED TEXTS ASSESSMENT – ADVANCED ENGLISH 1) Prescribed Text – The Book Thief a. Compose a summary/synopsis of the text (plot/themes/characters/key concerns). (100 words only) ‘The Book Thief’ by Mark Zusak The Book Thief is a story of a young german girl named Liesel Meminger in Nazi Germany during world war 2. At age nine her brother drops dead in front of her and when Death himself comes to collect his newest soul, he becomes fascinated with Liesel. From then on death narrates the story of a girl who moves into a foster home where she develops relationships between her new Papa and Mama, her best friend Rudy, her secret friend Max, but most importantly we witness her relationship with†¦show more content†¦This also shows the reader that by Hans recognising the old jewish man as human, the life of the Jewish man is signiï ¬ cantly impacted as he now feels something of worth and can die now knowing he is a human. This act of giving bread also impacts the life of Hans, as Hans is made to join the army in the most dangerous class of work as he is now seen as a ‘Jew Lover’. Through this quote the audience can see that cha nge is inevitable and impacts the course of ones life, as through one act of kindness, two mens lives are signiï ¬ cantly impacted. Zusak explores the concept of changing perspectives through how he incorporates the idea that change is inevitable and impacts the course of ones life, into the roles of his characters in his book ‘The Book Thief’. 2) Related Text a. Locate a related text that includes and explores the concept of Changing Perspectives. Compose a summary/synopsis of the text (plot/themes/ characters/key concerns). (100 words only) Changes - Tupac Shakur Changes by Tupac, is a song about the struggles and racial issues of African American people living in the poverty stricken areas or ‘Ghetto’s’ of America. Tupac sings about the injustices for his people living in poverty and how people need to stand up and make a change for the better, as the way things are going are not helping toShow MoreRelatedThe Book Thief By Markus Zusak1047 Words   |  5 Pagesthe Book Thief by Markus Zusak and Breaking Prejudice from National Radio, we see there to be a change in perspective due to insightful personal discoveries. We see this occur for the better and the worse, on a smaller scale in the case of the Book Thief and on a larger scale in Breaking Prejudice, which serves to demonstrate to the reader the many levels on which insight can affect perspective. In the Book Thief, Liesel’s initial perspective of both her foster mother Rosa, and Hitler, change as aRead MoreAnalysis Of The Book Thief847 Words   |  4 Pages The Book Thief â€Å"I have hated words and I have loved them, and I hope I have made them right.† Markus Zusaks The Book Thief conveys not only the power of words, but that there is also so much heart, even in a place where times are so dark. During the beginning of World War II, Liesel is moved to new foster parents after witnessing her brother die and her mom abandoning her. Soon she finds out that a Jew hides away in the basement. At first she is uneasy, but the man tells stories andRead MoreThe Book Thief And Erik Larson1639 Words   |  7 PagesMerriam Webster defines perspective as â€Å"the capacity to view things in their true relations or relative importance. Dr. Zoltan Takacs, a herpetologist (one that studies reptiles and amphibians) and toxinologist (one that studies toxins) has gone to 147 countries to study snakes and the toxins in their venom. In a National Geographic video, he is asked if he is a risk taker and he replied† he likes his life and don’t want to d ie but his work includes a calculated risk. But having the driving forceRead MoreThe Book Thief By Markus Zusak1630 Words   |  7 Pagesâ€Å"I wanted to tell the book thief many things, about beauty and brutality. But what could I tell her about those things that she didn t already know? I wanted to explain that I am constantly overestimating and underestimating the human race-that rarely do I ever simply estimate it. I wanted to ask her how the same thing could be so ugly and so glorious, and its words and stories so damning and brilliant.† (Zusak 550) Markus Zusak wrote â€Å"The Book Thief† which is a historical fiction novel about aRead MoreThemes Of The Book Thief920 Words   |  4 PagesThe book thief by Markus Zusak Told from the narrator deaths perspective is based during WW2. The novel revolves around a girl named Liesel and her journey through life as she learns about loss, friendship and humanity. At the age of 9 Liesel is adopted by a foster family, whi le suffering from the loss of her brother Liesel sets on a journey to learn how to read and write, through stolen books. Therefore the text portrays the power of words as part of the text is about Liesels experiences as sheRead MoreThe Book Thief Summer Book Report1080 Words   |  5 Pages9 20 March 2015 The Book Thief Summer Book Report 3. What are the best parts of this book? Why? What are the worst parts of this book? Why? Give details with page numbers from the book to explain. I think the best parts of the book are where you see Liesel grow and understand the difficult times that she lives in with her limited knowledge of life. Something I really enjoyed this book was the characterization and background of the characters. One of the best parts of the book is when we see the firstRead MoreEssay on Death is Humanity: Markus Zusaks The Book Thief653 Words   |  3 Pagesâ€Å"Here is a small fact: You are going to die†(Zusak 3). The Book Thief, a historical fiction book by Markus Zusak, is narrated by Death. The novel takes place during the 1930’s and 40’s in Nazi Germany and follows 9 year old Liesel Meminger, who death refers to as â€Å"The Book Thief.† After her father, mother, and then brother are killed, Liesel becomes an orphan and is taken in by Hans and Rosa Hubermann in Molching. Throughout the book, she meets many people including the Mayor’s wife, Isla HermannRead MorePoint Of Structure Of The Book Thief1334 Wor ds   |  6 Pages1. Title – The Book Thief 2. Author – Markus Zusak 3. Date of Original Publication – 2005 4. Novel Type – Historical Fiction STRUCTURE 1. Point of View – The novel is written in first person omniscient, with Death as the narrator. 2. Relationship to meaning: Being told in Death’s point of view, the narrator’s cynicism and often dark humor gives a reflective stance on Death’s perspective of humans, portrayed through one of the few souls that makes Death question his judgement of humans – LieselRead MoreThe Woman Of The Room Window Of A Mirror1202 Words   |  5 Pagesdress is Sophie’s graduation present. There are also two other readings: Sophie’s spinning and admiring of herself in the mirror is a present, for Rainer or for herself. For most of the book, Sophie is in a way, as Rainer describes her through the window, â€Å"Enveloped in absolute soundlessness† (Jelinek 235). Her perspective makes scant appearance, but she’s often thrust forward as an important visual, even put in visual terms to describe her sound (or lack thereof). Everyone agrees that Sophie’s exteriorRead MoreSensible Violence Within Cultural Texts Essay examples1291 Words   |   6 Pagesin the article Mullahs, Mystics, Moderates and Moghuls: The Many Islams of Salman Rushdie, Rushdie wrote this piece from a medieval religiousness perspective, most pointedly making use of symbols such as the ancient holy relic whose disappearance inspires countless deaths (Almond 3). These violent deaths mark something more in the theme of the book; presumptuously, Rushdie is attempting to enlighten his readers with the many faces of Islam, this particular story showing the face of Islam whos

Crisis In Odwalla Corporation Free Essays

The Odwalla corporation, a fruit juice producer based in California has always been a staunch supporter of natural products, though sadly those natural products created a deadly risk to at least 71 people in the fall of 1996. The company was linked to a large number of products containing apple juice that was tainted by the deadly e-coli O157:H7 bacteria. The death of a 16-month-old child in Evans, Colorado was the first of many illnesses that were directly linked to the company’s products, most of which contained tainted apple juice. We will write a custom essay sample on Crisis In Odwalla Corporation or any similar topic only for you Order Now In fact the company ended up recalling 70% of its total product on the shelves in the United States and Canada. (Mogel, 2002, p. 222) The outbreak had been swift and the company is often praised for its quick and particularly humanitarian response to the situation. The marketing campaign they embarked on with the help of a marketing crisis management team is actually award winning. At the time of the crisis, Odwalla appeared to do everything right. It responded to what it called a freak occurrence by pulling the suspect juice and offering to pay medical expenses. The quick recall and its warm and fuzzy image prompted favorable comparisons with Johnson and Johnson for its handling of the Tylenol incident. The initial response to the problem is crucial to the marketing arena as it is a way in which businesses can see in a recent strategic situation the ways in which marketing can affect crisis management positively for a company in dire straits. Though the eventual court rulings and the findings of an inquiry did not match the public personification associated with the crisis marketing it did save the company from almost sure disaster that would likely lead to the company folding in disgrace. Certainly if the information that was discovered during the investigation, made by the courts had been available to the public during the crisis the company and its founders would have lost everything. Odwalla pleaded guilty to criminal charges of selling tainted apple juice. It paid a $1.5 million fine, the largest ever assessed in a food industry case by the Food and Drug Administration. Federal investigators now suggest that Odwalla had regularly accepted blemished fruit and ignored warnings by its own safety team. Moreover, as sales plummeted 90 percent, company officials maintained an inside/outside strategy: covering up company malfeasance while positioning Odwalla as a victim along with those who it had poisoned. Though the ethics of the situation are suspect from a business standpoint they were crucial in the future success of the company. Industry standards have since changed a great deal and Odwalla quickly stepped in line with industry standards for pasteurizing its product, something that they had long resisted but eventually in 2002 became an FDA requirement excluded only by tough labeling laws, warning consumers of the unpasteurized nature of a product. Though there are still suspicions associated with the situation, the right answers to tough crisis marketing can be found in the case studies of the situation. Odwalla acted immediately. Although at the point where they were first notified the link was uncertain, Odwalla’s CEO Stephen Williamson ordered a complete recall of all products containing apple or carrot juice. This recall covered around 4,600 retail outlets in 7 states. Internal task teams were formed and mobilized, and the recall – costing around $6.5m was completed within 48 hours. What the company didn’t do was to avoid responsibility. On all media interviews, Williamson expressed sympathy and regret for all those affected and immediately promised that the company would pay all medical costs. This, allied to the prompt and comprehensive recall, went a long way towards satisfying customers that the company was doing all it could. The intended public’s of the communications associated with the e-coli crisis all received the information the company intended to convey, including eventual fault in production, though this was after the crisis had been dealt with and didn’t receive much air time. The intended publics received notification of the recall and everything that was being done to ensure that the problem would stop there, including new plans of action for flash pasteurization as well as a new policy associated with new industry wide changes eventually implemented by the FDA. The FDA began implementing further guidelines that required juice producers to show a specific reduction of bacteria in their juice. It is this law that has now, after years of discussion and public comment periods, come into effect. This is not a â€Å"pasteurization† law, it is a bacteria reduction law that requires juice producers to reduce the bacteria in their juice and to develop a HACCP (Hazard Analysis and Critical Control Point) system that ensures they keep records that would among other things, enable proper recalls and trace backs if the need arose. The industry has since implemented a great deal of the new standards and come into compliance with a system that will greater protect the public. In a sense the outcome could be considered the legacy of the crisis as Odwalla has continued to be a leader in the field of food safety technology implementation that is often used as a model for other crisis situations. The success of the story can be seen in a recent work detailing the award Odwalla and its crisis management marketing firm received: An independent AOL survey showed that 86 percent of online respondents supported Odwalla and would return as consumers. Other surveys showed 94% of those polled were aware of the E. coli outbreak; 96% of those aware approved of Odwalla’s handling of the crisis†¦Odwalla successfully reintroduced products after the recall, and continues to introduce new products at a normal rate†¦ (Mogel, 2002, p. 226) Additionally the financial as well as consumer confidence issue is still one that is reviewed by industry leaders as they are more likely in today’s climate to create at least a minimal plan for the potential of such a problem within their own business. Odwalla also showed specific crisis management skills, with the help of their crisis consultants in their ability to quickly reach their internal as well as external public’s as they instituted an internal open door policy accompanied by a collective meetings that are still held today to keep the internal public abreast with current needs and shortfalls in the company, as quickly as possible. â€Å"Internal communications were key: Williamson conducted regular company-wide conference calls on a daily basis, giving employees the chance to ask questions and get the latest information. This approach proved so popular that the practice of quarterly calls survived the crisis.† (â€Å"CSR case studies in crisis management: Odwalla,† 2006, at: http://www.mallenbaker.net/csr/CSRfiles/crisis05.html) Financial markets responded to the communications effort; stock price was $19 prior to the crisis, dropped to $9 immediately after, and has risen to $13. (Mogel, 2002, p. 226) All the intended publics were clearly communicated with the best possible outcome the company could have foreseen at the beginning of the crisis. One point of intrigue is also associated with the avenues that were used in this crisis, during the information age. One important element in this crisis management situation is that even as early as November 1996, Edelman and Odwalla took full advantage of the Internet to give reporters and consumers immediate access to information about the recall. Although Odwalla did not have a corporate or promotional Web site, the company’s crisis-related site was up and running within 48 hours. Based on its experience in the Odwalla case, Edelman PR has developed an online response product that enables clients to establish crisis preparedness sites on their Intranets. (Mogel, 2002, p. 227) The technology of the day was utilized to its fullest, in addition to a multimedia campaign explaining to those who had the product that was recalled to dispose of it and also telling customers and those affected of their intention to produce accountability with regard to the crisis. How to cite Crisis In Odwalla Corporation, Essay examples