The issues and concerns raised throughout this course are becoming increasingly pertinent to all organisations who must be more aware of the far-reaching effects of their business activities. It is no longer possible for an organisation to pursue a course of action where the social and environmental effects go unnoticed. A firm must have a social conscience and satisfy the needs of all its stakeholders if it is to survive in the ‘greener’ business environment which exists at the start of this century.
In this course we look at the issues and challenges affecting small businesses and the different growth strategies adopted by this type of organisation. We also look at the benefits and disadvantages of the small business and how the sector has flourished in the UK since the mid 1980s.
At the other extreme, the multinational corporation is discussed, again in terms of its growth strategies and rationale but also in terms of its impact on the countries in which it operates. We place particular emphasis on the impact of MNCs on less developed countries and on how such communities can be both positively and negatively affected.
Moving on from our discussion of MNCs we look in more detail at the issue of sustainable development and the need for organisations to reconcile economic, social and environmental aspects of their activities and to foster greater awareness of the ‘triple bottom line’. Much of the literature suggests that it is no longer viable for firms to pursue a strategy of aggressive economic growth without taking into account the effects on human communities and the environment.
Analysis of the different stakeholders highlight the fact that organisations are accountable to many different parties, many of whom have specific and often conflicting interests.
We concluded this course by considering the reasons why governments intervene in the free market mechanism and the different forms that interventions might take. There are, however, several arguments in favour of laissez-faire and these must be balanced against the benefits and disadvantages of intervention.
On completion of this course you will be able to:
- Demonstrate the transferable skills of group working, problem solving and autonomy as they show that they comprehend the nature of small firms, can appreciate the basic growth strategies of firms and are aware of the importance and behaviour of trans-national corporations (TNCs).
- Demonstrate the transferable skills of autonomy and communication as they show that they are aware of the effects of business development on the ecological system and on human communities.
- Demonstrate transferable skills: autonomy, communication and the responsibilities a firm may have to others.
- Demonstrate an awareness alternative ways in which business ‘success’ might be assessed and how governments may seek to influence business development.
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