Australian Retailing Industry Essay Example | Topics and Well Written Essays - 1750 words

Australian Retailing Industry - Essay Example Since the retailers are situated in a more convenient location than the manufacturers, consumers tend to choose retailers over these specific producers of goods. Annual reports give certainties that today, the retailing industry remains one of the top grossing industry in Australia. From the year 1993 towards the year 2000, retailing employed at least 920,000 people, which is almost 45% of the total number of workforce employed within the said country. It has been noted through reports that through the years 2005 towards the year 2006, the employing capabilities of the retailing industry in the country would increase up to 22% higher than the present statistical data that it presents in the Australian economic industries. (ARS, 2006, Internet) As of the latest statistical surveys, it has been carried on that there are at least 70,000 individual retailing business organizations in Australia submitting up to $150 Billion of business profits to the national treasury system. As it could be noted from these particular reports, the retail industry is indeed making up a large part of the entire national economy of Australia. Knowing that Australia holds at least 35% of its population devoted to employing the minorities or the Immigrants, it could be expected that the management policing and practices would naturally be directly affected. (ARS, 2006, Internet) Management and the Retail Industry Considering the fact mentioned earlier, the Australian community is made up of a large number of minorities or immigrants who have been entering the boundaries of the country searching for employment. Hence, through this particular truth, it could be observed that the management... The researcher states that today, being able to make amends with the way the management deals with the organization’s workforce is one way by which the business entity is ensured with the success that it aims to achieve in the future. This is the primary reason why management could not passively deal with the issues that concern the employees when dealing with the retail practices. Particularly in Australia, retail businesses are soaring high and are indeed making a great mark in the country’s industrial statistical reports. To support the claims mentioned above, a study on the Australian retailing industry shall be studied in this essay. The system of retailing business is based upon the process of busying and reselling used or new items to final consumers in the market. This procedure is mainly done by major industries that are not able to manufacture their own products. The idea revolves around the possibilities of creating profit from the manufactured products throu gh adding a certain amount called interest from the principal or original amount that the products were sold to the retailers. As the products passes through from retailers to retailers, it could be observed that the amount or the price of the product continuously rise as the money aims to suffice the capital or investment placed by the retailers themselves. Retailers have naturally brought in their products directly to the target buyers to ensure their organizations of the right kind of market influence that they need to penetrate for better market effects.

Do corporate social responsibility (CSR) reports provide shareholders Essay - 7

Do corporate social responsibility (CSR) reports provide shareholders and stakeholders with useful information on corporate soci - Essay Example The gaining momentum of CSR activities is evident from the fact that many mergers and acquisition dealings are also viewing investments in such activities as a factor for consideration prior to finalising the deal. Despite such growth in the value of CSR activities, the question as to why managers find it important to undertake these activities and whether there is any need for engaging in these activities apart from maintain good public image (Font et al., 2012). There are multitude of problems in the business world which include accounting frauds and corporate irregularities and graver concerns like environmental issues and social obligations. In this regard, the paper discusses the importance of engagement of companies in a socially responsible behaviour and also illustrates reasons behind non engagement of few organizations in the same. The paper discusses evidence of non compliance and lack of belief in CSR initiative in firms and concludes in discussion of relevance of such CSR initiatives in today’s world. Importance of Engaging in a Socially Responsible Behaviour CSR reporting that are now being mandated in firms by various controlling bodies are an attempt to legalise the concerns business activity while making it comply with various environmental, social and ethical issues. It is argued that voluntary as well as compulsory CSR reporting ensures competitive advantage of firms over those who do not engage in CSR reporting (Mahoney et al., 2013). The melamine contamination case of China was a shock for the entire world. It highlighted the need for investors to respond to a corporate social responsibility of companies towards its consumers. It is argued that a firm’s financial performance has direct bearing with consumer buying and selling activities and such immoral behaviours drop sales by drastic measures. In the similar way, the case of Coca Cola and Cadbury contamination brought forth an alarming situation of quality standards and norms that were practiced within the company. These events tarnished the brand name to such large extent that it required years to gain back reputation and hence sales. Hence it is critical to understand the direct linkage between CSR performance and financial results (Kong, 2012). The importance of engaging in CSR activities can also be studied in light of most important financial decisions like a merger and how it impacts the decision and impact on shareholders during such events (Deng, Kang & Low, 2013). In support of shareholder’s value maximisation in engaging in a merger, the role of CSR activity has been explained as a trust building action among the stakeholders (Jo & Harjoto, 2011). This argument thus establishes that high socially responsible firms have greater support of shareholders and stakeholders which in turn contribute towards firm profitability and long term efficiency in contrast to firms that maintain somewhat weak socially responsible image (Jensen, 2001). Evi dence of dismissal of view of CSR Corporate governance requires that companies make their activities more transparent, their activities more accountable and their business more socially responsibly. It is argued that companies engage in business ethics, corporate governance and social responsibility merely to gain legitimacy in business activities and they do not really care about what possible impacts these could have on their business activity (Brennan & Merkl-Davies, 2013). According to views of Milton Friedman, social