Tag Archives: Business

The Travel Products’ Price Determinants

This is an excerpt from my latest tourism textbook, entitled; ‘Travel Marketing, Tourism Economics and the Airline Product’. This publication will be available through Springer and Amazon.com.


Price Determinants
The type of pricing strategy which marketing managers consider is determined by a number of factors, including: organisatonal and marketing objectives; types of pricing objectives; cost levels; other marketing mix variables; market demand; competition, and legal and regulatory issues, among other matters.

Organisational and Marketing Objectives

Company policy and image, target profit margins and staff count could influence the type of pricing policy which the marketing managers will apply. Company policy and image will play an important role when determining a pricing strategy. The price set must be consistent with the general corporate objectives and the strategic direction of the company. For example, a full-service airline may want to be associated with the top-end of the market by providing a high-quality service to the business travel segment. To price below the average rate for such a service may imply an inferior and poor-quality service.

Any airline which would like to target the business market should provide an extensive schedule and a high-quality service. Therefore, it will require considerable resources and capabilities to do so.

Pricing Objectives

The most fundamental pricing objective is that of survival pricing. When experiencing severe competition, businesses may be forced to offer lower prices than their rivals. This way they will generate revenue, and improve their chances of survival. A tourism service or sub-product will not generate revenue if it is not used over a given period of time (it will perish) . While the service or sub-products may be available for sale at some later point in time, the revenue that was originally lost, can never be regained. For example, a hotel had thirty empty rooms on a specific date. These empty rooms cannot be sold at a later date because the service has been completed, and perished. Similarly, an airline could depart with empty seats which cannot be sold at a later date.

Moreover, the demand for tourism products is usually seasonal. For example, many north Americans flee south to Hawaii and to the Caribbean, during the winter months; whilst Australasians travel to Europe during the summer months of June, July and August. Of course, seasonality may be due to other factors, other than climate, including; vacation and holiday periods. For example, families may habitually travel at the same time of the year, usually over Christmas, Easter or summer periods. This is the usual close-down time period for schools, industry and commerce, in many countries. Since tourism is highly seasonal, suppliers may reduce their prices during off-peak times. Hence, a low price strategy assists in creating demand particularly among price-sensitive customers. Conversely, operators may charge higher prices when there are peaks in demand, due to major attractions and special events.

Profit maximisation is another pricing objective. However, it may prove difficult to measure, as businesses could not be in a position to determine when they have reached maximum profit. As a result, profit maximisation may be evaluated according to a certain ‘level of satisfaction’. A change in profit relative to previous periods may be considered as satisfactory or unsatisfactory for the businesses. The setting of prices to obtain a fixed rate of return on a company’s investment is a profit-related objective. Many businesses could be aiming to achieve a specific profit.

Another possible pricing objective is that of increasing market share. Many companies may design pricing policies which will enable them to improve their market share. However, at times, they may be satisfied with their current status in the market. In this case, their objective would be to retain their status quo. Companies with such an objective may not use pricing as a competitive tool. They will probably maintain a steady market share by nurturing their brand equity.

Cost Levels

The marketing managers should be careful to analyse all costs so that they will be included in the total cost. Therefore, the pricing of products should be based on the company’s direct and indirect costs (and may consider overhead expenses) if they are projecting a certain profitability margin.

Other Marketing Mix Variables

The marketing mix elements, including; promotions (the integrated marketing communication mix) and place (distribution channels), could determine the target customers’ perceptions of the firms’ products (or services), in a given competitive context.

The extent to which a product is promoted can have a huge effect on consumer demand. The products’ price will usually determine their target market. Low-priced products may attract price-sensitive markets. Such products will be promoted through different marketing communications channels other than high-priced, better quality, premium services. The more expensive the products; the higher the customers’ expectations. Considerable thought and action must go into product development so as to provide the customer with a valuable service which reflects the product’s price. One of the most significant promotional tools is word-of-mouth publicity. For instance, online reviews and ratings are increasingly playing a major role in tourism marketing.

When making a pricing decision, the businesses should consider their distribution costs. The companies’ intermediaries, including; tour operators, online travel agents, and the like, will expect financial compensation for selling travel products. Alternatively, they will expect discounts and special incentives to push the businesses’ products to consumers. For example, they may book large seat orders and place substantial mark-ups on seats which they have bought from the airline (these products may be demanded for inclusive tours). These factors must always be taken into consideration by the airline marketing managers, as they have to add mark-ups to the cost price of seats, when selling them to intermediaries.

Market Demand

There is a highly segmented market for tourism products. Each of the market segments vary in terms of elasticity, and service requirements. These variables will influence the way in which prices a set.

The business travel segment is generally more inelastic in demand. Fluctuations in prices will not affect demand to any great extent. However, the business travel segment expects a high-quality service. Generally, business travellers are prepared to pay a higher price for such services. The higher fares will not only cover the costs of the superior service, but will also convey an image of a premium, prestige product.

The passengers from the leisure travel segment are usually price-sensitive. Their expectations are somewhat lower than those of the business travellers. Demand is extremely elastic in this segment; and an increase in price may result in lower demand.

The socio-political factors may affect market demand. If a destination is politically or socially unstable, tourists may not want to go there. Most people like to feel safe and comfortable. For instance, many destinations have experienced dramatic reductions in the number of tourist arrivals, following the terrorist activities in certain countries.

Economic factors, including the individuals’ income and well-being, will affect their propensity to travel. However, this may not necessarily translate to an increased demand for all tourism products. For instance, if leisure travellers receive an increase in income, they may decide to travel to long-haul destinations rather than short-haul itineraries. Alternatively, these clients may increase the quality and standard rather than to increase their frequency of travel. Such customers may decide to upgrade their hotel accommodation, or to travel in higher classes. Income may affect demand according to the purpose of travel. For business travellers it may not make much difference, whilst for leisure travellers it can make quite a substantial difference. Their demand may also be influenced by the availability of substitute products. If there are no substitutes for the product, then consumers will be forced to buy regardless of price.

In addition, customers may develop perceptions about tourism products. Whether they are accurate or not, they could influence their purchase behaviours. Therefore the travellers’ perceptions, the online ratings and reviews should be carefully considered, as tourism products must always be purchased in advance.

Competition

The businesses should be aware of their competitors’ prices. They may decide to respond to their rivals’ pricing strategies, or to be proactive by taking the pricing initiative, themselves.

Responding to the Competitors’ Pricing Initiatives

There is no rigid method of responding to a price initiative taken by competitors. Every situation is unique. However, businesses are capable of making confident decisions if they examine the situation from different viewpoints:

At times, competitors may decide to lower their prices: It is not wise for other businesses to follow suit, unless they establish why their competitors are pursuing such a pricing strategy. It may be the case that the competitors have made a bad decision. It must be determined whether the competitors’ pricing initiative was a long term or a short term one. For instance, an airline’s poor fleet planning may result in the company changing its prices on a long-term basis. In such situations, rivals will have to respond or risk losing their market share. Price reductions will eventually lead to lower yields for the airline. As a result, this will have a negative impact on the airline and its long-term sustainability prospects. If the pricing initiative appears to be a short-term action, it is advisable to ignore it, and to avoid de-stabilising the market.

The price reductions on certain products may be questioned by the airline’s customers. As discussed above, the airlines may usually charge higher prices for their business and first class as these services are considered as prestige products. The airlines can differentiate themselves from competitors when they provide superior services; that are perceived as an index of quality and corporate image.

On the other hand, the airlines’ should continuously monitor those competitors who are resorting to price-cutting policies. Certain leisure markets may be more price-sensitive than others, as they may exhibit higher price-elasticity levels. The lower prices could result in an increase in demand for the economy class of service.

Taking the Price Initiative

Generally, businesses may avoid lowering their fares, as this will affect their bottom lines. Price wars have destroyed the profitability of many businesses. However, there may be a tendency toward price competition: when firms have low variable costs; when there is little differentiation among the competitors’ products; when industry growth rate is low, and; when the economies of scale are important. The businesses need to consider their cost levels before taking the initiative to lower their prices. The lean businesses who may have less costs, will usually be in a much stronger position to lower their prices than other competitors with high costs. However, more established high-cost businesses may have stable financial backing, which will enable them to meet, if not undercut, the new companies’ prices. They could eventually push their competitors out of the market.

An increase in price may be required if the business is facing controllable or uncontrollable costs. For example, if the airlines’ uncontrollable costs, include; increased airport landing fees and air traffic control charges; they may either decide to absorb these costs or alternatively, they may increase their fares as a means of covering these added costs. Of course, rival airlines will also face the same pressure. In such cases, the airlines could inform their customers about their uncontrollable costs, which have forced them to increase their fares. Ongoing corporate communications and public relations will help them to maintain their customers’ goodwill. On the other hand, the airlines’ controllable costs, including the employees’ salaries and wages, are under their direct responsibility. Such costs may not justify taking pricing initiatives to improve the organisation’s financial performance. They may even aggravate the airline’s profitability, in the long-term.

Legal and Regulatory Issues

Legal and regulatory issues may have an impact on a company’s pricing structure. Although, the airline industry has experienced deregulation and liberalisation in the past decades, there is still some government intervention, in certain areas. In international markets, air service agreements between governments necessitate that national airlines should meet and agree on the fares and rates to be charged to passengers. The agreed fare is brought back to both the airline’s governments who have the right to veto the fare. Should this happen, the airline concerned must seek to re-open negotiation.

Deregulation and liberalisation have affected the airlines’ pricing policies in many contexts. For example, liberalisation has changed the fares regime in the United States of America, in the European Union and in many other places. Today, several airlines have introduced lower fares which have contributed to increased travel. Moreover, the rise of the low-cost carriers has often resulted in lower air fares within pre-agreed zones. Evidently, pricing is increasingly being used as a competitive tool, in many contexts.

Leave a comment

Filed under Airlines, Marketing, tourism, Travel

Call for Chapters: Strategic Perspectives in Destination Marketing

This edited book will be published by IGI Global (USA)
Proposals Submission Deadline: August 31, 2017
Full Chapters Due: November 30, 2017


Introduction

This book provides a broad knowledge and understanding of destination marketing and branding. It presents conceptual discussions that cover the operational and strategic perspectives of the travel, tourism and hospitality industry sectors. At the same time, the readers are equipped with a strong pedagogical application of the socio-economic, environmental and technological impacts of tourism and its related sectors. The course content of this publication prepares undergraduate students and aspiring managers with a thorough exposure of the latest industry and research developments. Covering both key theory and practice, it introduces its readers to tourism issues in a concise yet accessible way. This will allow prospective tourism practitioners to critically analyze future situations and make appropriate decisions in work place environments.

Objective

This book is a concise and authoritative guide on tourism and its related paradigms. It provides a thorough understanding on destination branding and marketing. Therefore, the readers of this publication will better comprehend the marketing processes, strategies and tactics within the travel, tourism and hospitality contexts. It also highlights the latest trends, including; etourism, destination marketing and tourism planning for the future. The style of this book and extensive use of case studies, illustrations and links maintain the reader’s interest through visual aids to learning.

This publication is written in an engaging style that entices the curiosity of prospective readers. It explains all the theory in a simple and straightforward manner. It often makes use of short case studies that are carefully drawn from selected tourism businesses. Descriptive cases set the theory in context as they have been chosen to represent the diversity of the industry – ranging from small travel agents to large legacy airlines or multi-national hotel chains. This book reports on the global tourism marketing environments that comprise economic, socio-cultural and environmental issues. It explains how technological advances have brought significant changes to the tourism industry and its marketing mix. Moreover, it features interesting illustrations, including diagrams and color images. Notwithstanding, this book will also provide direct links to further readings on the web to aid both teaching and learning.

Target Audience

This book introduces the students and aspiring practitioners to the subject of destination marketing in a structured manner. It is primarily intended to undergraduate and / or post-graduate students in tourism (including tourism management, hospitality management, airline management and travel agency operations). It is also relevant to destination management organisations, tourism offices, hoteliers, inbound / outbound tour operators, travel agents and all those individuals who are willing to work within the dynamic tourism industry.

Academics in higher education institutions including universities and vocational colleges, small tourism business owners, tourism and hospitality consultants, non-profit tourism organizations, policy makers and legislators.

Recommended Topics

  • An introduction to the tourism industry
  • The structure and organization of the tourism destinations
  • The tourism marketing environment
  • Political, legal and regulatory forces in destination management
  • Economic effects of tourism marketing
  • Socio-cultural issues and destination branding
  • Technological advancements and information systems for travel marketing
  • The environmental impact of tourism.
  • Branding the tourism product
  • The tourist destinations and visitor attractions
  • The hospitality sector, hotel and catering
  • Tourist transportation
  • Pricing Tourism Products And Revenue Management
  • Market and Demand
  • Pricing Approaches
  • Pricing Strategies
  • Tourism Intermediaries And Online Distribution Channels
  • Destination Management Organisations
  • Tour operators
  • Retailing tourism
  • Tourism amenities and ancillary services
  • Promoting the tourism product
  • Advertising tourism destinations
  • Public relations and publicity in destination marketing
  • Direct and online marketing
  • Building customer relationships for repeat tourism
  • Word of mouth, the importance of reviews and ratings in tourism marketing
  • Sustainable and responsible tourism in destination branding
  • Destination marketing: the way forward
  • Tourism planning and development
  • Tourism strategies for destinations
  • Measuring marketing effectiveness
  • What future for the tourism industry?

Submission Procedure

Researchers and practitioners are invited to submit on or before August 31, 2017, a chapter proposal of 1,000 to 2,000 words clearly explaining the mission and concerns of their proposed chapter. Authors will be notified by September 15, 2017 about the status of their proposals and sent chapter guidelines. Full chapters are expected to be submitted by November 30, 2017, and all interested authors must consult the guidelines for manuscript submissions at http://www.igi-global.com/publish/contributor-resources/before-you-write/ prior to submission. All submitted chapters will be reviewed on a double-blind review basis. Contributors may also be requested to serve as reviewers for this project.

Note: There are no submission or acceptance fees for manuscripts submitted to this book publication, Trust in Knowledge Management and Systems in Organizations. All manuscripts are accepted based on a double-blind peer review editorial process.

All proposals should be submitted through the eEditorial Discovery®TM online submission manager.

Publisher

This book is scheduled to be published by IGI Global (formerly Idea Group Inc.), publisher of the “Information Science Reference” (formerly Idea Group Reference), “Medical Information Science Reference,” “Business Science Reference,” and “Engineering Science Reference” imprints. For additional information regarding the publisher, please visit http://www.igi-global.com. This publication is anticipated to be released in 2018.

Important Dates

Proposal Submission Deadline: August 31, 2017
Notification of Acceptance: September 15, 2017
Full chapter Submission: November 30, 2017
Review Results to Chapter Authors: January 31, 2018
Revised Chapter Submission from Chapter Authors: February 28, 2018
Final Acceptance Notifications to Chapter Authors: March 15, 2018

Inquiries

Mark Anthony Camilleri, Ph.D.
Email: Mark.A.Camilleri@um.edu.mt

Leave a comment

Filed under digital media, Marketing, responsible tourism, Stakeholder Engagement, tourism, Travel

A Conceptual Model of Corporate Sustainability and Responsibility

The corporate sustainability and responsibility concept is linked to improvements to the companies’ internal processes, including; environmental management, human resource management, operations management and marketing (Porter & Kramer, 2011; Fombrun, 2005; Maignan & Ferrell, 2004). At the same time, it raises awareness on the businesses’ responsible behaviours toward stakeholders, including the government, suppliers, customers and the community, among others (Carroll & Shabana, 2010; Freeman, 1984). The fundamental motivation behind this approach is the view that creating connections between stakeholders in the value chain will open-up unseen opportunities for the competitive advantage of responsible businesses, as illustrated here:

(Camilleri, 2017a)

Corporate sustainability and responsibility focuses on exploiting opportunities that reconcile differing stakeholder demands as many corporations out there are investing in corporate sustainability and responsible business practices (Camilleri , 2017b). Their active engagement with multiple stakeholders (both internal and external stakeholders) will ultimately create synergistic value for all (Camilleri, 2017a).

Multinational organizations are under increased pressures from stakeholders (particularly customers and consumer associations) to revisit their numerous processes in their value chain activities. Each stage of the company’s production process, from the supply chain to the transformation of resources could add value to their businesses’ operational costs as they produce end-products. However, the businesses are always expected to be responsible in their internal processes, toward their employees or toward their suppliers’ labour force. Therefore, this corporate sustainability and responsibility perspective demands that businesses create economic and societal value by re-aligning their corporate objectives with stakeholder management and environmental responsibility. In sum, corporate sustainability and responsibility may only happen when companies demonstrate their genuine willingness to add corporate responsible dimensions and stakeholder engagement to their value propositions. This occurs when businesses opt for responsible managerial practices that are integral to their overall corporate strategy. These strategic behaviours create opportunities for them to improve the well-being of stakeholders as they reduce negative externalities on the environment.  The negative externalities can be eliminated by developing integrated approaches that are driven by ethical and sustainability principles. Very often, multinational businesses are in a position to mitigate risk and to avoid inconveniences to third parties. For instance, major accidents including BP’s Deep Horizon oil spill in 2010; or the collapse of Primark’s Rana Plaza factory in Bangladesh, back in 2013 could have been prevented if the big businesses were responsible beforehand.

In conclusion, the corporate sustainability and responsibility construct is about embedding sustainability and responsibility by seeking out and connecting with the stakeholders’ varied interests. As firms reap profits and grow, there is a possibility that they generate virtuous circles of positive multiplier effects (Camilleri, 2017a). Therefore, corporate sustainability and responsibility can be considered as strategic in its intents and purposes. Indeed, the businesses are capable of being socially and environmentally responsible ‘citizens’ as they are doing well, economically. This contribution explains the foundations for corporate sustainability and responsibility. Although this concept is still evolving; the debate among academic commentators is slowly but surely raising awareness on responsible managerial practices and on the skills and competences that are needed to deliver strategic results that create value for businesses, society and the environment.

References:

Camilleri, M.A. (2017a) Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies. Springer, Heidelberg, Germany. http://www.springer.com/us/book/9783319468488

Camilleri, M.A. (Ed.) (2017b) CSR 2.0 and the New Era of Corporate Citizenship. IGI Global, Hershey, USA. ISBN13: 9781522518426 DOI: 10.4018/978-1-5225-1842-6 http://www.igi-global.com/book/csr-new-era-corporate-citizenship/166426

Carroll, A. B., & Shabana, K. M. (2010). The business case for corporate social responsibility: A review of concepts, research and practice. International journal of management reviews, 12(1), 85-105.

Fombrun, C. J. (2005). A world of reputation research, analysis and thinking—building corporate reputation through CSR initiatives: evolving standards. Corporate Reputation Review, 8(1), 7-12.

Freeman, R.E. (1984). Strategic Management: A stakeholder approach. Pitman, Boston, MA. USA.

Maignan, I., & Ferrell, O. C. (2004). Corporate social responsibility and marketing: An integrative framework. Journal of the Academy of Marketing science, 32(1), 3-19.

Porter, M. E. & Kramer, M. R., (2011). Creating shared value. Harvard business review, 89 (1/2), 62-77.

Leave a comment

Filed under Business, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, Human Resources, Marketing, Shared Value, Stakeholder Engagement, sustainable development

Unleashing Corporate Social Responsibility Communication in the Digital Era

Part of this article has appeared in Camilleri, M.A. (2017) Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies. Springer International. http://www.springer.com/us/book/9783319468488

The corporate communication is dynamic on digital media as the global diffusion of social software like blogs, RSS feeds, wikis, electronic fora, webinars and social media networks have facilitated organisations, including businesses to attract prospects and consumer groups. The digital media could potentially speed up content marketing and increase direct interactions, dialogues and engagements with various audiences. Such interactive communications are often referred to as “viral” because ideas and opinions spread through the network via word‐of‐mouth and are usually perceived as highly trustworthy sources.

When organisations share information about their stakeholder relationships with online communities, they may find out that their followers (or friends) could also share their passion for laudable causes. Very often, there is a business case for corporate social responsibility as socially-driven enterprises and sustainable businesses could charge higher prices for their products or services, they may influence more people, and get more credibility, attention, customers; you name it. Therefore, they are encouraged to use digital media to stand out from the rest, reach out (to prospects, clients, followers, and experts), and engage (in networking and public relations events).

Online communication has potential to create a ripple effect that grows as it reaches wider audiences. Notwithstanding, social media has potential to empower users to engage with organisations on a myriad of issues. They also enable individual professionals or groups to promote themselves and their CSR, sustainability, responsible management, responsible corporate governance, responsible procurement, philanthropic and stewardship credentials et cetera, in different markets and segments.

Due to their apparent lack of gatekeeping and their symmetric two-way communication, the digital media are suitable for undertaking a corporate-public dialogue. However, open platforms like social media can also increase the complexities of the debates as they decrease the level of institutionalisation of the interactions between organisations and their stakeholders.

The social media has transformed the communicative dynamics within and between corporations and their external environment. These online networks are effective monitoring tools as they could feature early warning signals of trending topics. Therefore, digital media are helping business communicators and marketers to identify and follow the latest sustainability issues. Notwithstanding, CSR influencers are easily identified on particular subject matters or expertise. For example, businesses and customers alike have learned how to use the hashtag (#) to enhance the visibility of their shareable content (Some of the most popular hashtags in this regard, comprise: #CSR #StrategicCSR, #sustainability, #susty, #CSRTalk, #Davos2016, #KyotoProtocol, #SharedValue et cetera). Hashtags could be used to raise awareness on charities, philanthropic institutions as well as green non-governmental organisations. They may also promote fund raising events. Hence, there are numerous opportunities for organisations and businesses to leverage themselves through blogs and social networks as they engage with influencers and media. Modern tools like Scrivener make it easy to write and compile for formats including .mobi (Kindles) and .epub (iBooks). Guest blogging on respected industry websites is a great way to build reputation and authority, but also backlinks  are crucial for strong search engine optimisation. Moreover, regular contributions on blogs allow users to connect with others; by sharing ideas and opinions, they spread awareness on their promoted content. Businesses can make use of project management systems like Asana or Trello, or intranet tools like Interact or Podio to track the  effectiveness of their outreach campaigns. Their analytics tools could possibly reveal  which content had the biggest impact on the audiences.

Hence, social media is an unprecedented channel for connecting and sharing with millions around the planet (with an estimated 2.51 billion social media users worldwide in 2017). The ubiquity of Facebook, Twitter, Snapchat and Google Plus over the past years has made them familiar channels for many individuals around the globe. These networks have become very popular communication outlets for brands, companies and activists alike. For instance, these networks have become popular tools that are used by millions of people to publish messages and to interact through conversations from their personal computers and mobile phones.

LinkedIn is yet another effective tool, particularly for personal branding. However, this social network helps users identify and engage with influencers. Companies can use this site to create or join their favourite groups.They may also use this channel for CSR communication as they promote key socially responsible initiatives and share sustainability ideas. Therefore, LinkedIn connects individuals and groups as they engage in conversations with academia and CSR practitioners.

In addition, Pinterest and Instagram enable their users to share images, ideas with their networks. These platforms could so be relevant in the context of the sustainability agenda. For instance, businesses could illustrate their CSR communication to stakeholders through visual and graphic content. These networks provide sharable imagery, infographics or videos to groups who may be passionate on certain CSR issues.

Moreover, digital marketers are increasingly uploading short, fun videos which often turn viral on internet. YouTube and Vimeo seem to have positioned themselves as important social media channels for many consumers, particularly among millennials. These sites offer an excellent way to humanise or animate CSR communication through video content. These digital media allow their users to share their video content across multiple networks. For instance,  webinars and videos featuring university resources may also comprise lectures, documentaries and case studies that could be created, distributed and shared online through Skillshare or Udemy.

The Internet and social media open platforms are shifting the power dynamics as they are putting forward the debates between business and society. Open platforms provide access to multiple stakeholders and facilitate two-way communication between participants. They increase the speed in communications as there are no gatekeeping mechanisms. Open platforms are therefore unique spaces in the emerging diversity and plurality of the sustainability agenda. Participants in social media can no longer be classified as formal, functional or institutionalised stakeholders (e.g., as customers or NGOs), Yet, they may be categorised in relation to their changing affinities with the specific issues under discussion.

In conclusion, despite the promise that digital media improves the efficiency and effectiveness of corporate communication between organisations and their publics,  the businesses’ implementation of online engagement is neither automatic nor easy. The dialogic features that are enabled by web pages, blogs, and other social media may not necessarily result in improved stakeholder relationships. The businesses may inevitably have to deal with legitimacy constraints as they manage online engagements in different contexts. At the same time, there are stakeholders, particularly customers who are  increasingly becoming more discerned about content marketing through digital media.

Leave a comment

Filed under Business, Corporate Social Responsibility, Corporate Sustainability and Responsibility, digital media, ICT, Marketing, Shared Value, Small Business, Stakeholder Engagement, sustainable development

About Mark Anthony Camilleri, the Author of Springer’s Corporate Sustainability, Social Responsibility and Environmental Management

The University of Malta’s promising academic, Dr Mark Anthony CAMILLERI lectures in an international masters programme run by the University of Malta in collaboration with King’s College, University of London. Mark specialises in strategic management, marketing, research and evaluation. He successfully finalised his PhD (Management) in three years time at the University of Edinburgh in Scotland – where he was also nominated for his “Excellence in Teaching”. During the past years, Mark taught business subjects at under-graduate, vocational and post-graduate levels in Hong Kong, Malta and the UK.

Dr Camilleri has published his research in reputable peer-reviewed journals. He is a member on the editorial board of Springer’s International Journal of Corporate Social Responsibility and Inderscience’s International Journal of Responsible Management in Emerging Economies. He is a frequent speaker and reviewer at the American Marketing Association’s (AMA) Marketing & Public Policy conference, in the Academy of International Business (AIB) and in the Academy of Management’s (AoM) annual gatherings. Mark is also a member of the academic advisory committee in the Global Corporate Governance Institute (USA).

Dr Camilleri’s first book, entitled; “Creating Shared Value through Strategic CSR in Tourism” (2013) was published in Germany. This year Springer will publish his latest book; “Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies” (2017). Moreover, he edited a U.S. publication, entitled; “CSR 2.0 and the New Era of Corporate Citizenship” (2017). His short contributions are often featured in popular media outlets such as the Times of Malta, Business2Community, Social Media Today, Triple Pundit, CSRwire and the Shared Value Initiative.

Mark’s professional experience spans from project management, strategic management, business planning (including market research), management information systems (MIS), customer relationship and database marketing to public relations, marketing communications, branding and reputation management (using both conventional tools and digital marketing).

His latest book can be purchased from https://www.amazon.co.uk/Corporate-Sustainability-Responsibility-Environmental-Management/dp/3319468480 or http://www.springer.com/gb/book/9783319468488

Leave a comment

Filed under Business, Circular Economy, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, digital media, Impact Investing, Marketing, Shared Value, Socially Responsible Investment, SRI, Stakeholder Engagement, sustainable development

The Responsible Management of Marketplace Stakeholders

Excerpt from: Camilleri, M. (2017). The Rationale for Responsible Supply Chain Management and Stakeholder Engagement. Journal of Global Responsibility, 8(1).

supply chain
(source: GreenBiz)

Generally, firms are becoming more proactive in their engagement with responsible supply chain management and stakeholder engagement. Very often, corporate responsible behaviours could form part of their broader strategic commitment toward stakeholders (Zhu, Sarkis and Lai, 2013; Walker, Di Sisto and McBain, 2008; Walker and Preuss, 2008), This contribution is based on the premise that corporations could make a genuine and sustaining effort to align their economic success with corporate social responsibility in their value chain.

The corporations’ differentiated strategies as well as their proactive engagement in responsible supply chain practices can lead them to achieve a competitive advantage in the long term. In this case, firms may have  sophisticated responsible procurement processes in place. Therefore, they could be in a better position to support their different suppliers. On the other hand, there could be low‐cost producers that may be neglecting socially responsible supply chain management. In a similar vein, niche operators may not necessarily adopt responsible supply chain practices. Nevertheless, such firms tend to exhibit stronger ties with their suppliers; they may be relatively proactive vis-a-vis their socially responsible behaviours.

Previous studies indicated that there are significant gaps between policy and practice
(Govindan, Kaliyan, Kannan and Haq 2014; Preuss, 2009; Yu, 2008; Egels-Zanden, 2007), For the time being; firms may (or may not) be inclined to implement responsible supply chain and manufacturing processes on a voluntary basis. However, the big businesses are increasingly becoming aware that they are susceptible to negative media exposure, stakeholder disenfranchisement, particularly if they are not responsible in their supplier relationships (or if their social and environmental policies are not fully-implemented),

Arguably, a differentiated strategy can serve as a powerful competitive tool in the global marketplace as the customers’ awareness of social and responsibility rises. Notwithstanding, many stakeholders are increasingly becoming acquainted with fair trade and sustainability issues; as empowered consumers and lobby groups could enforce firms to invest in a more responsible supply chain.

Undoubtedly, there are opportunities for the proactive firms who are keen on integrating
responsible practices into their business operations. It is in these firms’ interest to report about their responsible supply chain management, social performance and sustainable innovations to their stakeholders. The corporations’ environmental, social and governance disclosures will help them raise their profile in their value chain.

The responsible businesses can possibly achieve a competitive advantage as they build (and protect) their reputation with stakeholders. Of course, there are different contexts and social realities. The global supply chain and the international NGOs also play a critical role in the enforcement of responsible behaviours in the supply chain.

In conclusion, this paper contended that the responsible supply chain management as well as forging stakeholder relationships with suppliers and distributors enable businesses to create shared value to society and for themselves.

Leave a comment

Filed under Business, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, Marketing, Shared Value, Stakeholder Engagement

Springer’s latest book on Strategic Management; Corporate Sustainability, Social Responsibility and Environmental Management

csr2This book provides a concise and authoritative guide to corporate social responsibility (CSR) and its related paradigms, including environmental responsibility, corporate sustainability and responsibility, creating shared value, strategic CSR, stakeholder engagement, corporate citizenship, business ethics and corporate governance, among others. It is primarily intended for advanced undergraduate and / or graduate students. Moreover, this publication is highly relevant for future entrepreneurs, small business owners, non-profit organisations and charitable foundations, as it addresses the core aspects of contemporary strategies, public policies and practices. It also features case studies on international policies and principles, exploring corporate businesses’ environmental, social and governance reporting.

Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies – by Mark Anthony Camilleri,PhD (Edinburgh)

Google Scholar Citation

Google Books

The book includes a foreword by Professor Emeritus Archie B. Carroll, who is one of the pioneers of the CSR paradigm. It also features numerous endorsements from accomplished academic researchers:

“There’s a revolution taking place, one that’s percolating from the uncoordinated efforts of activist consumers/NGOs, regulators/moralists, and corporate/institutional investors. Mark Camilleri’s new book provides an excellent overview of the eclectic academic literature in this area, and presents a lucid description of how savvy companies can embed themselves in circular systems that reduce system-wide externalities, increase economic value, and build reputation. A valuable contribution.”

Charles J. Fombrun, Founder of Reputation Institute and a former Professor of Management at New York University and The Wharton School, University of Pennsylvania, USA.

 

“I am pleased to recommend Dr. Camilleri’s latest book, Corporate Sustainability, Social Responsibility, and Environmental Management. The book is a rich source of thought for everyone who wants to get deeper insights into this important topic. The accompanying five detailed case studies on a wide array of corporate sustainable and responsible initiatives are helpful in demonstrating how theoretical frameworks have been implemented into practical initiatives. This book is a critical companion for academics, students, and practitioners.”

Adam Lindgreen, Professor and Head of Department of Marketing, Copenhagen Business School, Denmark.

 

“This book is an essential resource for students, practitioners, and scholars. Dr. Mark Camilleri skillfully delivers a robust summary of research on the business and society relationship and insightfully points to new understandings of and opportunities for responsible business conduct. I highly recommend Corporate Sustainability, Social Responsibility, and Environmental Management: An Introduction to Theory and Practice with Case Studies.”

Diane L. Swanson, Professor and Chair of Distinction in Business Administration and Ethics Education at Kansas State University, KS, USA.

 

“Mark’s latest book is lucid, insightful, and highly useful in the classroom. I strongly recommend it.”

Donald Siegel, Dean of the School of Business and Professor of Management at the University at Albany, State University of New York, NY, USA.

 

“The theory and practice of corporate sustainability, social responsibility and environmental management is complex and dynamic. This book will help scholars to navigate through the maze. Dr Camilleri builds on the foundations of leading academics, and shows how the subject continues to evolve. The book also acknowledges the importance of CSR 2.0 – or transformative corporate sustainability and responsibility – as a necessary vision of the future.”

Wayne Visser, Senior Associate at Cambridge University, UK. He is the author of CSR 2.0: Transforming Corporate Sustainability & Responsibility and Sustainable Frontiers: Unlocking Change Through Business, Leadership and Innovation.

 

“Corporate Sustainability, Social Responsibility and Environmental Management: An Introduction to Theory and Practice with Case Studies” provides a useful theoretical and practical overview of CSR and the importance of practicing corporate sustainability.”

Geoffrey P. Lantos, Professor of Business Administration, Stonehill College. Easton, Massachusetts, USA.

 

“This book offers a truly comprehensive guide to current concepts and debates in the area of corporate responsibility and sustainability. It gives helpful guidance to all those committed to mainstreaming responsible business practices in an academically reflected, yet practically relevant, way.”

Andreas Rasche, Professor of Business in Society, Copenhagen Business School, Denmark.

 

“A very useful resource with helpful insights and supported by an enriching set of case studies”

Albert Caruana, Professor of Marketing at the University of Malta, Malta and at the University of Bologna, Italy.

 

“A good overview of the latest thinking about Corporate Social Responsibility and Sustainable Management based on a sound literature review as well as useful case studies. Another step forward in establishing a new business paradigm.”

René Schmidpeter, Professor of International Business Ethics and CSR at Cologne Business School (CBS), Germany.

 

“Dr. Camilleri’s book is a testimony to the continuous need around the inquiry and advocacy of the kind of responsibility that firms have towards societal tenets. Understanding how CSR can become a modern manifestation of deep engagement into socio-economic undercurrents of our firms, is the book’s leading contribution to an important debate, that is more relevant today than ever before”

Mark Esposito, Professor of Business and Economics at Harvard University, MA, USA.

 

“Mark’s book is a great addition to the literature on CSR and EM; it will fill one of the gaps that have continued to exist in business and management schools, since there are insufficient cases for teaching and learning in CSR and Environmental Management in Business Schools around the globe.”

Samuel O. Idowu, Senior Lecturer in Accounting at London Metropolitan University, UK; a Professor of CSR at Nanjing University of Finance and Economics, China and a Deputy CEO, Global Corporate Governance Institute, US

 

“Corporate Social Responsibility has grown from ‘nice to have’ for big companies to a necessity for all companies. Dr Mark Camilleri sketches with this excellent book the current debate in CSR and CSR communication and with his cases adds valuable insights in the ongoing development and institutionalization of CSR in nowadays business”.

Wim J.L. Elving, A/Professor at the University of Amsterdam, Netherlands.

Leave a comment

Filed under Business, Circular Economy, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, Google, Shared Value, Social Cohesion, Socially Responsible Investment, SRI, Stakeholder Engagement, sustainable development

Responsible Investing: Making a Positive Impact

flower

Impact investing is one of the fastest growing and promising areas of innovative development finance (Thornley, Wood, Grace & Sullivant, 2011; Freireich & Fulton, 2009). This form of socially-responsible investment (SRI) also has its roots in the venture capital community where investors unlock a substantial volume of private and public capital into companies, organisations and funds – with the intention to generate social and environmental impact alongside a financial return.

The stakeholders or actors in the impact investing industry can be divided into four broad categories: asset owners who actually own capital; asset managers who deploy capital; demand-side actors who receive and utilise the capital; and service providers who help make this market work.

Impact investments can be made in both emerging and developed markets, and target a range of returns from below market to market rate; depending on the investors’ strategic goals. Bugg-Levine and Emerson (2011) argued that impact investing aligns the businesses’ investments and purchase decisions with their values. Defining exactly what is (and what is not) an impact investment has become increasingly important as it appears that the term has taken off among academia and practitioners.

The impact investments are usually characterised by market organisations that are driven by a core group of proponents including foundations, high-net worth individuals, family offices, investment banks and development finance institutions. Responsible entities are mobilising capital for ‘investments that are intended to create social impact beyond financial returns’ (Jackson, 2013; Freireich & Fulton 2009). Specific examples of impact investments may include; micro-finance, community development finance, sustainable agriculture, renewable energy, conservation, micro-finance and affordable and accessible basic services, including; housing, healthcare, education and clean technology among others.

Micro-finance institutions in developing countries and affordable housing schemes in developed countries have been the favorite vehicles for these responsible investments, though impact investors are also beginning to diversify across a wider range of sectors (see Saltuk, Bouri, & Leung 2011; Harji & Jackson 2012). Nevertheless, micro-finance has represented an estimated 50% of European impact investing assets (EUROSIF, 2014). This form of investing has grown to an estimated €20 billion market in Europe alone (EUROSIF, 2014). The Netherlands and Switzerland were key markets for this investment strategy, as they represented an estimated two thirds of these assets. These markets were followed by Italy, the United Kingdom and Germany.

Generally, the investors’ intent is to ensure that they achieve positive impacts in society. Therefore, they would in turn expect tangible evidence of positive outcomes (and impacts) of their capital. Arguably, the evaluation capacity of impact investing could increase opportunities for dialogue and exchange. Therefore, practitioners are encouraged to collaborate, exchange perspectives and tools to strengthen their practices in ways that could advance impact investing. The process behind on-going encounters and growing partnerships could surely be facilitated through conferences, workshops, online communities and pilot projects. Moreover, audit and assurance ought to be continuously improved as institutions and investors need to be equipped with the best knowledge about evaluation methods. Hence, it is imperative that University and college courses are designed, tested and refined to improve the quality of education as well as  professional training and development in evaluating responsible investments.

For evaluation to be conducted with ever more precision and utility, it must be informed by mobilising research and analytics. Some impact investing funds and intermediaries are already using detailed research and analysis on investment portfolios and target sectors. At the industry-wide level, the work of the Global Impact Investing Network (GIIN) and IRIS (a catalogue of generally accepted Environmental, Social and Governance – ESG performance metrics) is generating large datasets as well as a series of case studies on collaborative impact investments. Similarly, the Global Impact Investing Rating System (GIIRS) also issues quarterly analytics reports on companies and their respective funds in industry metrics (Camilleri, 2015).

For the most part, those responsible businesses often convert positive impact-investment outcomes into tangible benefits for the poor and the marginalised people (Garriga & Melé, 2004). Such outcomes may include increased greater food security, improved housing, higher incomes, better access to affordable services (e.g. water, energy, health, education, finance), environmental protection, and the like (Jackson, 2013).

Interestingly, high sustainability companies significantly outperform their counterparts over the long-term, both in terms of stock market and accounting performance (Eccles, Ioannou & Serafeim, 2012). This out-performance is stronger in sectors where the customers are individual consumers, rather than companies (Eccles et al., 2012).

It may be complicated and time-consuming to quantify how enterprises create various forms of humanitarian and environmental value, yet some approaches and analytical tools can help to address today’s societal challenges, including the return on impact investments in social and sustainability projects.

References

Bugg-Levine, A., & Emerson, J. (2011). Impact investing: Transforming how we make money while making a difference. innovations, 6(3), 9-18.
Camilleri, M. A. (2015). Environmental, social and governance disclosures in Europe. Sustainability Accounting, Management and Policy Journal, 6(2), 224-242.

Eccles, R. G., Ioannou, I., & Serafeim, G. (2012). The impact of a corporate culture of sustainability on corporate behavior and performance (No. W17950). National Bureau of Economic Research.

EUROSIF (2014). Press Release: 6th Sustainable and Responsible Investment Study 2014. Europe-based national Sustainable Investment Forums. http://www.eurosif.org/wp-content/uploads/2014/09/Press-Release-European-SRI-Study-2014-English-version.pdf (Accessed 14 May 2016).

Freireich, J., & Fulton, K. (2009). Investing for social and environmental impact: A design for catalyzing an emerging industry. Monitor Institute, January.

Garriga, E., & Melé, D. (2004). Corporate social responsibility theories: Mapping the territory. Journal of business ethics, 53(1-2), 51-71.

Harji, K., & Jackson, E. T. (2012). Accelerating impact: Achievements, challenges and what’s next in building the impact investing industry. New York, NY: The Rockefeller Foundation.

Jackson, E. T. (2013). Interrogating the theory of change: evaluating impact investing where it matters most. Journal of Sustainable Finance & Investment, 3(2), 95-110.

Saltuk, Y., Bouri, A., & Leung, G. (2011). Insight into the impact investment market: An in-depth analysis of investor perspectives and over 2,200 transactions. New York, NY: J.P. Morgan.

Thornley, B., Wood, D., Grace, K., & Sullivant, S. (2011). Impact Investing a Framework for Policy Design and Analysis. InSight at Pacific Community Ventures & The Initiative for Responsible Investment at Harvard University.

Leave a comment

Filed under Analytics, Big Data, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, Impact Investing, Marketing, Socially Responsible Investment

Mark Camilleri edited a book on sustainable and responsible business

Dr Mark Anthony Camilleri, Ph.D. (Edinburgh) has recently edited a business textbook entitled; ‘CSR 2.0 and the New Era of Corporate Citizenship’.
csr
This contribution is an authoritative reference source (for the latest scholarly research) on the ways in which corporate entities can implement responsible strategies that create synergistic value for both businesses and society. The authors (hailing from leading European universities) contend that responsible behaviors in the realm of business continue to remain a crucial component of organizational development.
By exploring core aspects of contemporary corporate strategies, businesses can create more value through social welfare and sustainable initiatives. This publication features an extensive coverage across a wide range of perspectives and topics, including corporate citizenship, corporate sustainability and responsibility, stakeholder engagement, business ethics, public spending, total responsibility management and social value co-creation, among others.
This publication is ideally designed for students, academics and researchers seeking current concise and authoritative research on the business case for corporate social responsibility.

Chapter 1 presents a thorough literature review on corporate social responsibility and its other related constructs, including corporate citizenship, stakeholder engagement and business ethics. Hence, this chapter reports on how CSR has evolved to reflect the societal realities.

Chapter 2 reviews the different definitions of the corporate responsibility paradigms and draws comparisons between related concepts. The author contends that organization studies; economic, institutional, cultural and cognitive perspectives are shaping the corporate responsibility agenda. She cleverly presents the benefits of integrating multiple perspectives and discusses about the possible research avenues in the realms of corporate responsibility.

Chapter 3 suggests that the field of CSR is ushering a new era in the relationship between business and society. The author puts forward a Total Responsibility Management (TRM) approach that may be useful for business practitioners who intend adopting CSR behaviors. This chapter posits that CSR strategies including managing relationship with stakeholders will contribute to the companies´success and will also bring community welfare.

Chapter 4 focuses on the national governments’ regulatory role of raising awareness on CSR behaviors among businesses. The author suggests that there is scope for the state agencies to promote CSR as a business case for companies. She provides an outline of the current state of “supranational regulative policies on public procurement” within the European Union context.

Chapter 5 uses a stakeholder perspective to encapsulate the CSR concept. The authors investigated social value cocreation (SVCC) through a qualitative study among different stakeholders (customers, employees, and managers). They implied that businesses ought to clarify their motives, by opening channels of communication with stakeholders. This way, there will be a higher level of SVCC with increased (stakeholder) loyalty toward the firms.

Chapter 6 sheds light on Porter and Kramer’s (2011) shared value proposition. The author explains how collaborative stakeholder interactions could lead to significant improvements in the supply chain.

Chapter 7 involved a longitudinal study that investigated how four different State Owned Enterprises communicated with Māori communities between 2008 and 2013. This study contributes to the extant research on the legitimacy theory and CSR communication with ethnic minorities in the Aotearoa (New Zealand) context.

Chapter 8 links the CSR paradigm with risk management. The author suggests that Serbian businesses ought to adopt corporate sustainable and responsible approaches in terms of their disaster risk reduction prior to environmental emergencies.

Chapter 9 involved a quantitative analysis that explored the CSR practices within the hospitality industry. The authors suggested that there were distinct social and environmentally responsible behaviors in different geographical areas. They argued that institutions can take their results into account when drawing up policies that are aimed at fostering responsible tourism practices.

Chapter 10 examined how CSR communication of self-serving motives can lead to more trust and credibility among stakeholders as well as corporate reputation. The authors implied that the marketers should be aware of how the public perceive CSR behaviors.

Chapter 11 reports that corporate (or organizational) storytelling is increasingly being used as a promotional tool to communicate CSR information to stakeholders. The authors present four companies that have used storytelling with the aims of transmitting values, fostering collaboration, leading change and sharing knowledge on responsible practices.

Chapter 12 relates corporate sustainability to the construct of emotional capital. The authors maintain that emotional capital enables businesses to attract and retain talent. They maintain that there are significant improvements to the firms’ bottom lines If they invest in responsible human resources management.

Chapter13 suggests that the transition from the CSR to CSR 2.0 requires the adoption of five new principles – creativity, scalability, responsiveness, glocality and circularity. The authors posit that these principles ought to be embedded within the organizations’ management values and culture. The authors propose a new framework that can be used to manage the processes of socially responsible organizations.

Chapter 14 investigated the banks’ behaviors during the economic crisis in Turkey. The authors reported on the bank’s CSR strategies as they supported small and medium sized enterprises, as well as local communities during the financial turmoil.

Chapter 15 offers insights on sustainable tourism as the authors investigated the constraints that explain why an attitude–behavior gap exists in responsible tourists’ behaviors.

Chapter 16 examines three leading networks that are intended to promote corporate sustainability and responsibility. The author explores their growing influence as he reviews their objectives, organizational structures, types of activities, practices and impacts.

Further details on this contribution is available here: http://www.igi-global.com/book/csr-new-era-corporate-citizenship/166426


About the Editor:

Dr. Mark Anthony Camilleri is a resident academic in the Department of Corporate Communication at the University of Malta. He specializes in strategic management, stakeholder engagement, corporate social responsibility and sustainable business. Mark successfully finalized his PhD (Management) in three years’ time at the University of Edinburgh in Scotland – where he was nominated for his “Excellence in Teaching”. During the past years, Mark taught business subjects at under-graduate, vocational and post-graduate levels in Hong Kong, Malta and the UK.

Dr Camilleri has published his research in peer-reviewed journals, chapters and conference proceedings. He is also a member on the editorial board of Springer’s International Journal of Corporate Social Responsibility and a member of the academic advisory committee in the Global Corporate Governance Institute (USA). Mark is a frequent speaker and reviewer at the American Marketing Association’s (AMA) Marketing & Public Policy conference and in the Academy of Management’s (AoM) Annual Meeting.

The Authors’ Biographies

Ozan Nadir ALAKAVUKLAR is a lecturer in management at Massey University School of Management. His research interests are based on sustainability, community organizing and social movements.

Marcello ATZENI received his PhD at the University of Cagliari. His research interests are related to tourism authenticity and consumer behavior.

Elisa BARAIBAR DIEZ is a Lecturer in Business Administration at the University of Cantabria. Her fields of research are corporate transparency, CSR, corporate governance and reputation. She focuses on transparency and its effects not only in a business context but also in other contexts such as universities.

Jesús BARRENA MARTINEZ is an Assistant Professor postdoctoral in the Department of Business Management at the University of Cadiz. He has a PhD in the field of Economics and Business Management. His teaching and research interests include Human Resource Management, Corporate Social Responsibility and Intellectual Capital. He has presented papers at international and national conferences and published in journals such as Corporate Social Responsibility and Environmental Management, International Journal of Management and Enterprise Development, Journal of Human Values, Tourism and Management Studies and Intangible Capital.

Roland BERBERICH is Independent researcher in Project Management with additional MRes degree from Heriot Watt University. He has acquired more than 10 years of project experience.

Claudiu George BOCEAN is Associate Professor at and PhD supervisor Faculty of Economics and Business Administration within University of Craiova. In 2000, graduated Bachelor Degree, major in Accountancy and Informatics, Faculty of Economics, University of Craiova, Romania. In 2004, graduated Master program in Business Administration, Faculty of Economics, University of Craiova, Romania. In 2007, PhD in Economics, Faculty of Economics, University of Craiova, Romania. In 2015, Habilitation title in Management, Academy of Economic Sciences Bucharest, Romania. Since 2002 – present, teaching and researching in Faculty of Economics and Business Administration, University of Craiova on topics such as Human Resource Management, Corporate Social Responsibility, Organization Theory, Business Economics, and co-operating within projects with national and international universities and organizations.

Michael Devereux obtained both Master in Business Administration (MBA) from University of North Carolina at Wilmington and a Master in International Business from Universitat de Valencia. Prior to graduate school, he gained a Bachelor in Economics and Geography focusing on international economics and Central/South America from Weber State University. Additionally, he has studied in Costa Rica, and in Guatemala participating in a microfinance and economic development project for indigenous women in Guatemala. His current interests are focused on international affairs, humanitarian components, health and well-being, economic development, community engagement, energy and environmental sustainability.

José Ignacio ELICEGUI REYES is Graduate in Management Business Administration and Business Sciences, as well as he has studied a Masters in Human Resource Management at the University of Cadiz. Currently, he is studying a Masters in Teacher Training in Secondary Schools and High Schools, Vocational Training and Language Training for the specialty of Business Administration at the University of Cadiz. Also, he is developing his PhD in the Human Resource Management field.

Martina G. GALLARZA lectures in the Marketing Department of Universidad de Valencia (SPAIN). She has formerly taught at Universidad Católica de Valencia, where she was Dean of the Business Faculty. Her research interests include consumer behavior and tourism services. She has authored more than 40 articles (in Annals of Tourism Research, Tourism Management, Journal of Consumer Behavior, Journal of Services Marketing, International Journal of Hospitality Management, Journal of Hospitality Marketing and Management among others), and has presented more than 70 papers in Congresses (EMAC, MKT TRENDS Conference, AMA Servsig, ATMC). She teaches in several international masters in Europe (MTM in IGC at Bremen (Germany) and MAE at IGR-IAE Rennes (France). Guest scholar for short periods at Columbia University (New York City. USA), ESCP (France), Sassari University (Sardinia. Italia), Strathclyde University (Glasgow, UK), She is member of the American Marketing Association (AMA), Asociación Española de Marketing (AEMARK), Association Française de Marketing (AFM) and formerly of Association Internationale d’Experts Scientifiques en Tourisme (AIEST She is member of the Board of Directors of Pernod Ricard. S.A. since 2012.

Raquel GOMEZ LOPEZ is a Lecturer in Business Management at the University of Cantabria (Spain). Her current research interests include quality management, excellence models, responsible management, family firms, innovation, and tourism. Raquel’s works have been published in journals of international impact such as Cornell Hospitality Quarterly, Total Quality Management & Business Excellence and Journal of Small Business and Enterprise Development among others. She is also author of several chapters in various collective works and one book. She regularly participates in prestigious international and national conferences, such as those organized by FERC, IFERA and ACEDE.

Misra Cagla GUL is an Associate Professor of Marketing and the Vice Director of the Graduate School of Arts and Sciences at Isik University. She holds a PhD degree from Bogazici University, and an MBA degree from Georgia State University. She has published in the fields of marketing and consumer behavior in times of recession, corporate social responsibility, social marketing, status consumption, green consumer behavior and strategic marketing. She teaches various marketing courses including consumer behavior, advertising and services marketing, both at undergraduate and graduate levels. Her professional experience includes over 5 years in marketing in telecommunications and energy sectors. She has a B.Sc. degree in Industrial Engineering from Bogazici University.

Jose Ramon CARDONA received a doctorate in business economics from the University of the Balearic Islands in 2012. He worked as lecturer in marketing at the University of Zaragoza, Pablo de Olavide University and the University of the Balearic Islands. He’s a research associate of the research group Business Management and Tourist Destinations.

Giacomo DEL CHIAPPA is an assistant professor of marketing at the Department of Economics and Business, University of Sassari (Italy), and Associate Researcher at CRENoS. He is also a senior research fellow, School of Tourism and Hospitality, University of Johannesburg, South Africa. His research is related to destination governance and branding, consumer behavior, and digital marketing. He has published articles in several international journals, among others the International Journal of Hospitality Management, Journal of Services Marketing, Journal of Travel Research, International Journal of Tourism Research, International Journal of Contemporary and Hospitality Management, Current Issues in Tourism, and Information Systems and E-Business Management.

Michael DEVEREUX obtained both Master in Business Administration (MBA) from University of North Carolina at Wilmington and a Master in International Business from Universitat de Valencia. Prior to graduate school, he gained a Bachelor in Economics and Geography focusing on international economics and Central/South America from Weber State University. Additionally, he has studied in Costa Rica, and in Guatemala participating in a microfinance and economic development project for indigenous women in Guatemala. His current interests are focused on international affairs, humanitarian components, health and well-being, economic development, community engagement, energy and environmental sustainability.

José Luis FERNANDEZ SANCHEZ, PhD is a Professor of Business Administration at the University of Cantabria. He specializes in CSR, especially social investment.

Paul George HOLLAND, received a Bachelor in Business degree from the Manukau Institute of Technology, Auckland, New Zealand in 2012 and a Master of Business Studies from Massey University, New Zealand in 2015.

Mehmet KAYTAZ is currently professor of economics and the Dean of Faculty of Economics and Administrative Sciences at Işık University, Istanbul, Turkey. He holds a M.A. degree from the University of Manchester (1974) and Ph.D. from the University of Nottingham (1978). He was a faculty member of Boğaziçi University between 1978-2005.He served as President of State Institute of Statistics, Turkey; as Undersecretary of Treasury; as an alternate director in European Bank for Reconstruction and Development, and as Chairman of Board of Directors of Eregli Iron & Steel Factories. He has authored articles and books on small-scale enterprises, income distribution, economic growth, statistics, finance and education.

Valentín-Alejandro MARTINEZ FERNANDEZ is a Permanent Professor at University of A Coruña, Area of Marketing and Market Research. B.A. Information Sciences, Complutense University of Madrid. MBA Management and Business Administration, University of A Coruña. PhD. Information Sciences, Complutense University of Madrid.

Patricia MARTINEZ GARCIA DE LEANIZ is an Assistant Professor at the University of Cantabria (Spain). Her current research interests include corporate social responsibility, consumer behavior, corporate marketing and responsible management. Her research focuses on theoretical and empirical studies in the tourism sector. Patricia’s works have been published in journals of international impact such as International Journal of Hospitality Management, Journal of Business Ethics, International Journal of Contemporary Hospitality Management and Journal of Travel and Tourism Marketing among others. She is also author of several chapters in various collective works and one book. She regularly participates in prestigious international and national conferences, such as those organized by EMAC, AEMARK and ACEDE.

Lars MORATIS is an expert in corporate social responsibility (CSR) affiliated with Antwerp Management School in Belgium as the Academic Director of the Competence Center Corporate Responsibility and with the NHTV University of Applied Sciences in The Netherlands as Professor of Sustainable Business. His research interests lie in the credibility of corporate CSR claims, ISO 26000, CSR strategy, CSR implementation, responsible management education and critical perspectives on CSR. His other interest is the psychology of sustainability. He received an MSc in Business Administration from Erasmus University Rotterdam School of Management and his PhD from the Open University the Netherlands. His PhD dissertation on ISO 26000 carried the title ‘Standardizing a better world? Essays and critical reflections on the ISO 26000 standard for corporate social responsibility’. He publishes on his research interest in both scientific and practitioner-oriented journals and book chapters. He has written several books, among which is ‘ISO 26000: The business guide to the new standard on social responsibility’.

María D. ODRIOZOLA (PhD) is a Lecturer in Business Administration at the University of Cantabria. Her research focuses on Human Resources Management and CSR. Particularly, she is specialized in labor social responsibility practices.

Mariella PINNA is a Research Fellow at the University of Sassari where she teaches in the area of “Ethics”. Her research interest is related to ethical consumption and consumer behavior.

Vesela RADOVIC is an associate professor, works in the Institute for Multidisciplinary Research, Belgrade University, Serbia. Dr. Radovic has an MPH in fire safety protection and a PhD in safety, protection and defense from the Faculty of Safety in Belgrade. She has a long record of experience in the area of disaster management. As an expert in the area of disaster management she prepared the handbook, Methodology of Risk Assessment and Emergency Management Planning at the Local Level. This manual was a part of the activities of the USAID, Serbia Preparedness, Planning and Economic Security Program, implemented by the DAI/Washington. She spent a year with the Fulbright/Hubert Humphrey Fellowship, at Tulane University, School of Public Health and Tropical Medicine, Department of International Health and Development, New Orleans, LA. During that year in USA her focus was on public policy making and emergency preparedness. Dr. Radovic will focus her future activities in academic community in order to share acquired knowledge to help her country, Serbia in supporting the necessary reforms in the context of Euro-Atlantic Integrations.

Amir Hossein RAHDARI is one of the top 25 youngest Sustainable Business professionals (2degrees). He is the director of research at Corporate Governance and Responsibility Development Centre, an external reviewer to several Int. peer-reviewed journals (JCR and Scopus indexed), a research contributor to CSRI and some other leading platforms. He is also an independent research & consultant and a member of several leading panels on sustainability including GBI Panel (US), NG Panel (UK), Ministry of Petroleum CSR Committee (Iran).

Pedro M. ROMERO FERNANDEZ is a Professor in the Department of Business Management at the University of Cadiz. His teaching experience (more than 15 years) spans the broad range of strategy, human resources and management. He has published his work in the field of HRM in peer-reviewed top national and international journals, such as the International Journal of Human Resource Management, British Journal of Management, Journal of Business Research and Journal of Business Ethics.

María Dolores SANCHEZ FERNANDEZ is a PhD “Competitiveness, Innovation and Development” and a Lecturer at the University of la Coruña (Spain), Faculty of Economics and Business, Department of Analysis and Business Management, Business Organization area. She is also part of the GREFIN (University of A Coruña) and GEIDETUR (University of Huelva) research groups and associate researcher at the Centre of CICS.NOVA.UMinho and Lab2PT research at the University of Minho, GEEMAT (Brazil) and REDOR Network (Mexico). She has been the author or co-author of several articles published in indexed journals. She has participated in over 100 communications in national and International conferences and is a member of the scientific committee. She reviews international scientific magazines in Spain, United States and Brazil. Her main research topics are: Corporate Social Responsibility, quality, tourism, the hotel industry and human resources.

Katharina SARTER is an Ailsa McKay Postdoctoral Fellow at Glasgow Caledonian University. Previously Research Fellow at Bielefeld University, University of Muenster, and University of Rostock as well as Bernheim Postdoctoral Fellow at the Hoover Chair of Economic and Social Ethics at the Catholic University of Louvain and Visiting Scholar at the Public Procurement Research Group at the School of Law of the University of Nottingham.

Catalina SITNIKOV is Professor at University of Craiova (Romania), Faculty of Economics and Business Administration. She has PhD title in Management since 2000, Habilitation title in Management since 2014 and since February 2015 is PhD supervisor in Management. For 3 years activated as Visiting Lecturer at Helsinki University of Technology, Lahti Center (Finland). Since 1995, she has been teaching undergraduate, master and PhD students. She teaches Quality Management, Total Quality Management and Management. Her main research areas include: management, strategic management, and mostly quality management, instruments and models specific to the stages of quality planning, control and improvement, quality management strategies, ISO standards, CSR from the perspective of specific standards and instruments.

Marius Sorin TUDOR holds a PhD from the Faculty of Economics and Business Administration within University of Craiova. In 1998, graduated Bachelor Degree, major in Accountancy and Informatics, Faculty of Economics, University of Craiova, Romania, In 2001, graduated Master program in Business Administration, Faculty of Economics, University of Craiova, Romania In 2008, PhD in Economics, Faculty of Economics, University of Craiova, Romania Since 2006 – present, teaching and researching in Faculty of Economics and Business Administration, University of Craiova on topics such as Project Management, Environmental Economics, Marketing public, Methods and techniques for decision-making in public organizations, Media management. Since 2015 – present, Manager of Universitaria – Publishing house within University of Craiova.

Başak UCANOK TAN received her B.A. degree in Business Administration from Başkent University. Upon her graduation she was granted the Sunley Management Scholarship and completed MSc in International Management from the University of Northampton, UK. Her master’s dissertation focused on the adverse psychological effects of financial crises on layoff survivors. She continued her academic pursuits in Marmara and Istanbul Bilgi University and earned her PhD in Organizational Behavior with her dissertation on the investigation of organizational citizenship behaviors in Turkish SMEs. Her academic research focus concentrates on the dynamics of micro organizational phenomena including work values, organizational citizenship behavior, organizational commitment, alienation, leadership and cooperative behavior. She has served as coordinator in Public Relations program in Istanbul Bilgi University from 2010 to 2012 and has recently became Associate Professor.

Anya Catharina Eva ZEBREGS is a master student at University of Amsterdam. Last January she completed her masters in Business Administration and currently she is writing her thesis for the Social Psychology masters. The two masters complement each other very well; she gathered knowledge about consumers, organizations, groups of people and how to influence them and combined this with strategic and economic knowledge. She is interested in marketing and consultancy and after her internship, which will start this September, she would like to find a job in either marketing or consultancy. Further, Anya has always been very interested in CSR and the non-profit market, one of the reasons why she chooses to write her first master thesis about CSR. Further, she is president of the board of SOLVE Consulting Amsterdam. SOLVE is a professional student consultancy organization active in social enterprise consulting. The organization advises non-profits and social enterprises in their efficiency and effectiveness.

Leave a comment

Filed under Business, Corporate Governance, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, responsible tourism, Shared Value, Small Business, SMEs, Stakeholder Engagement, sustainable development

Stakeholder engagement for corporate citizenship (in the U.S.A.)

thm3rqcunjThe US government agencies and the bureaus regulatory policies and principles are creating both challenging opportunities and threats for the businesses. Evidently, the institutional legacies are affecting the ways in which civil society, industry and NGOs interact together (Camilleri, 2015). This reasoning echoes the legitimacy theory as heterogenous, competing groups of stakeholders often expect and solicit social and environmentally responsible behaviours from businesses. Debatably, the U.S. government and its agencies should ensure that the true ecological cost of environmental degradation and climate change is felt in the market. In this light, there may be scope for U.S.  authorities to promote responsible behaviors.

 

For instance, recently there is an increased awareness on the circular economies that are characterised by their resource efficiency levels and cleaner production through recycling, reducing and reusing materials (EU, 2015; Geng, Fu, Sarkis and Xue, 2012; Geng and Doberstein, 2008).

US corporations should be urged to find alternative ways for sustainable energy generation, energy and water conservation, environmental protection and greener transportation systems. This way, they will be considered as legitimate businesses; as their corporate performance matches their stakeholders’ expectations (Camilleri, 2016; 2015). The organisations’ implementation of their legitimation strategy could include voluntary and solicited CSR disclosures that address norms, values or beliefs of stakeholders (Reverte, 2009). Responsible companies could be in a position to prevent third-party pressures through their engagement in social responsibility practices and sustainable behaviours. At the same time, they could lower the criticisms from the public and minimise their legal cases through their active compliance with regulations and guiding principles.

The organisations’ legitimacy is a critical driver for a dynamic institutional and organisational change (Tost, 2011). The organisations’ evaluative process was also suggested by Scherer et al. (2013) as they discussed about the corporations’ isomorphic adaptation to societal pressures. Yet, such political perspectives have often been considered as being overly normative (Kuhn and Deetz, 2008; Scherer and Palazzo, 2007) and of neglecting the complexity of the debates between corporations and society. Baur and Arenas (2014) also noted that the regulated interactions and the consensus building may not be required if corporations address the sustainable development issues. However, the responsible behavioural issues often call for the re-negotiation of social, economic, and environmental factors among regulatory authorities and other interested parties.

Indeed, addressing the environmental protection often requires shifting through a multitude of complex and often contradictory demands of stakeholders (Camilleri, 2015; Freeman, 2010; Hardy & Phillips, 1998) that are defined beyond nation-state governance institutions. Multiple ethical systems, cultural backgrounds, and rules of behaviour could possibly coexist within the same communities (Scherer & Palazzo, 2007) as the legitimacy of the business community around sustainable development issues is often being challenged (Porter & Kramer, 2011; Scherer & Palazzo, 2011).

Therefore, the stakeholder engagement processes are important instruments for legitimacy building as the pluralist nature of US politics encourages the formation of lobby groups and associations that are often regarded as legitimate representatives (Camilleri, 2016; Doh and Guay, 2006). Other previous research also contended that the legitimacy in resolving social responsibility and sustainable development issues often requires ‘the ability to establish trust-based collaborative relationships with a wide variety of stakeholders especially those with non-economic goals (Sharma & Vredenburg, 1998, p. 735). These stakeholders may have an accepted role in influencing the public policy process.

 

Excerpt from: Camilleri, M.A. (2016) Corporate Citizenship and Social Responsibility Policies in the United States of America. Sustainability Accounting, Management and Policy (Forthcoming)

References

Baur, D. and Arenas, D. (2014), “The value of unregulated business-NGO interaction a deliberative perspective”, Business & Society, Vol. 53 No 2, pp. 157-186.
Camilleri, M..A. (2015), “Valuing Stakeholder Engagement and Sustainability Reporting”, Corporate Reputation Review, Vol. 18 No. 3, pp. 210-222.
Camilleri, M. A. (2016), “Corporate sustainability and responsibility toward education”, Journal of Global Responsibility, Vol. 7, No 1.
Doh, J.P. and Guay, T.R. (2006), “Corporate social responsibility, public policy, and NGO activism in Europe and the United States: An Institutional‐Stakeholder perspective”, Journal of Management Studies, Vol. 43 No. 1, pp. 47-73.
E.U. (2015), “Research and Innovation Industry 2020 in the Circular Economy” (Call identifier: H2020-IND-CE-2016-17. http://ec.europa.eu/research/participants/portal/desktop/en/opportunities/h2020/calls/h2020-ind-ce-2016-17.html#c,topics=callIdentifier/t/H2020-IND-CE-2016-17/1/1/1&callStatus/t/Forthcoming/1/1/0&callStatus/t/Open/1/1/0&callStatus/t/Closed/1/1/0
Freeman, R. E. (2010), “Strategic management: A stakeholder approach”, Cambridge University Press, Cambridge, UK.
Geng, Y. and Doberstein, B. (2008), “Developing the circular economy in China: Challenges and opportunities for achieving’leapfrog development”, The International Journal of Sustainable Development & World Ecology, Vol. 15 No 3, pp. 231-239.
Geng, Y., Fu, J., Sarkis, J. and Xue, B. (2012), “Towards a national circular economy indicator system in China: an evaluation and critical analysis”, Journal of Cleaner Production, Vol. 23 No 1, pp. 216-224.
Hardy, C. and Phillips, N. (1998). “Strategies of engagement: Lessons from the critical examination of collaboration and conflict in an interorganizational domain”, Organization science, Vol. 9 No. 2, pp. 217-230.
Kuhn, T. and Deetz, S. (2008), “Critical theory and corporate social responsibility: Can/should we get beyond cynical reasoning”, In Crane, A., McWilliams, A., Matten, D., Moon, J. and Siegel, D., The Oxford handbook of corporate social responsibility, pp. 173-196.
Porter, M.E. and Kramer, M.R. (2011). “Creating shared value: How to reinvent capitalism and unleash a wave of innovation and growth”, Harvard Business Review, Vol. 89 Nos. 1-2, pp. 62–77.
Reverte, C. (2009), “Determinants of corporate social responsibility disclosure ratings by Spanish listed firms”, Journal of Business Ethics, Vol. 88 No. 2, pp. 351-366.
Sharma, S. and Vredenburg, H. (1998), “Proactive corporate environmental strategy and the development of competitively valuable organizational capabilities”, Strategic Management Journal, Vol. 19 No. 8, pp. 729-753.
Scherer, A. G. and Palazzo, G. (2007), “Toward a political conception of corporate responsibility: Business and society seen from a Habermasian perspective”, Academy of Management Review, Vol. 32 No.4, pp. 1096-1120.
Scherer, A. G. and Palazzo, G. (2011). “The new political role of business in a globalized world: A review of a new perspective on CSR and its implications for the firm, governance, and democracy”, Journal of Management Studies, Vol. 48 No. 4, pp. 899-931.
Tost, L.P. (2011), “An integrative model of legitimacy judgments”, Academy of Management Review, Vol. 36 No. 4, pp. 686-710.

 

Leave a comment

Filed under Circular Economy, Corporate Social Responsibility, Corporate Sustainability and Responsibility, CSR, Stakeholder Engagement