Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:
attract customers to the firm's products, thereby boosting sales and profits
make employees want to stay with the business, reduce labour turnover and therefore increase productivity
attract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employees
attract investors and keep the company's share price high, thereby protecting the business from takeover.
Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm's reputation and make it less appealing to stakeholders. Profits could fall as a result.
Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company's success, as described here: 'A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders - not just our consumers - but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *'
Ensuring that employees understand the company's corporate values is achieved by the statement of 'Our Business Principles' which makes clear the behaviour it seeks from employees.
Ethical behaviour and corporate social responsibility can bring significant benefits to a business. For example, they may:attract customers to the firm's products, thereby boosting sales and profitsmake employees want to stay with the business, reduce labour turnover and therefore increase productivityattract more employees wanting to work for the business, reduce recruitment costs and enable the company to get the most talented employeesattract investors and keep the company's share price high, thereby protecting the business from takeover.Unethical behaviour or a lack of corporate social responsibility, by comparison, may damage a firm's reputation and make it less appealing to stakeholders. Profits could fall as a result.Along with good corporate governance, ethical behaviour is an integral part of everything that Cadbury Schweppes does. Treating stakeholders fairly is seen as an essential part of the company's success, as described here: 'A creative and well managed corporate and social responsibility programme is in the best interests of all our stakeholders - not just our consumers - but also our shareowners, employees, customers, suppliers and other business partners who work together with us. *'Ensuring that employees understand the company's corporate values is achieved by the statement of 'Our Business Principles' which makes clear the behaviour it seeks from employees.
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