Assignment Example | Topics and Well Written Essays - 250 words - 315

Assignment Example The company has accomplished and executed the four factors of corporate social responsibility through taking part in a cause-marketing case such as Project (RED). By donating their revenue for a life-saving operations, the business organization is presented in a good light. The company also generates its turnover in a legal and ethical manner, which forms its sustainable business development. I am of the opinion that corporations, which are socially involved, achieve better financial results, since they concentrate on worldwide social issues and regard this as a possibility to bring more business for the company. 2) Corporate Social Responsibility or CSR, generally being defines as a business concern of the welfare or wellbeing of the society, and run their business activities and operations in lawful and legally accepted manner to generate profit for the company. The four components of corporate social responsibility are Economic responsibilities by being profitable to the company, Legal responsibilities by obeying the law or playing by the rule, Ethical responsibilities by being ethical in carrying business and Philanthropic responsibilities by being a good corporate citizen and also by improving the quality and standard of living of the community and society. Economic performance is important as the foundation of the other three responsibilities, because if it does not achieve good performance, the other three responsibilities will be questionable. CSR stands for Corporate Social Responsibility and is defined by how much a business organization is concerned about the prosperity of the society. Corporations which implement social responsibility run their affairs in a lawfully abiding way in order to turn a profit. There are four factors of corporate social responsibility. The first one is the economic responsibility to generate revenue for the company. The second is the responsibility to obey the law and act according to

Bancassurance and assurancebank strategie Essay

Bancassurance and assurancebank strategie - Essay Example Hence, an opening up of the markets eventually led the production houses to operate in an environment saturated with stringent competition. The companies worldwide have responded to this change by adapting themselves into newer strategies while designing their financial plans. Many firms have introduced added features in their operations so that they are able to meet more of the people’s demands and thus are able to capture a higher fraction of the market. Since it becomes easier for people to shop or transact under the same roof, this introduced feature is enough to lure them (Staikouras, 2009). One such move that was simultaneously embraced by the insurance as well as the banking sector was that of indulging themselves in each other’s activities. Hence, two new strategies of ‘bancassurance’ and ‘assurancebank’ were introduced in some of the units in the banking and the insurance sectors respectively (Nurullah & Staikouras, 2008). For instance, in Europe, there is the HSBC Bank which has adopted the strategy of ‘bankassurance’ while there is the ING Group which has embraced the other strategy. The strategy of bancassurance implies an embedding of the insurance sector in the activities of the banking sector (Ennew & Waite, 2007). The advantage to the customers in case such a strategy is introduced are, firstly, they are able to transact under a single roof which is time as well as cost-saving, and secondly, the moment that a customer takes some loan, he automatically is entitled to the insurance benefit that accompanies it. Thus, if the loan is meant for some investment and it fails to reap the returns it is expected to yield after a specified time period, then an insurance coverage will help him to forgo the loan and thus the person’s tremor is reduced by a great extent. The HSBC Group adopted the