Business Disruption and Change Drivers

CSR practices are often limited in developing countries due to weaker government regulations and cultural acceptance.

Western companies are pushing for CSR practices in their foreign suppliers due to reputational concerns.

Setting clear, measurable CSR objectives with timelines and linking them to manager's performance improves focus and accountability.

Incorporating CSR values into a company's mission statement creates a framework for directors.

Internal rules and standards for dealing with CSR related issues within an organization.

Monetary donations or aid given to local charities or groups.

Comparing an organization's CSR performance with competitors' initiatives. Analyzing and evaluating the social and environmental impact of those policies.

Annual reports that cover sustainable development and CSR issues.

Evaluating projects financially to determine if they should be undertaken.

A project appraisal method calculating a project's net contribution over its life.

The cost of capital at which a project's net present value equals zero.

The time it takes for an investment to return its cost.

Ensuring an organization follows all tax laws and regulations.

Strategies to legally reduce taxes.

Providing accurate financial statements to external stakeholders.

Individuals or groups outside a company who are interested in its financial performance.

Producing management information, often focused on recording incomes and costs, analyzed according to business needs.

Using new information early to adjust actions and meet targets before problems arise.

Analyzing the financial success of individual retail locations.

Examining which products are selling well and which are not.

Understanding customer tastes and needs to improve marketing and product development.

Comparing staffing expenses across different locations to identify potential cost-saving opportunities or inefficiencies.

Assessing competitor performance in the market to inform business strategy.

A professional who collects and analyzes financial information to support business decisions.

Managing a company's money and financial resources to maximize its value and liquidity while reducing financial risks.

The ability to quickly access cash to pay debts as they come due.

The process of finding ways to raise capital for the business.

Borrowing money that needs to be repaid with interest.

Raising funds by selling shares in the company.

Potential losses due to currency changes, high taxes or lack of cash to pay suppliers.

Staff members responsible for managing finance systems to ensure accuracy and timeliness.

Managing short-term assets and liabilities, ensuring sufficient cash for day-to-day operations in a company.

Overseeing, designing, and controlling the production process to make goods and services efficiently and effectively.

A plan for how a company will manage its production processes to meet business goals.

How many products or services are made. Higher volume needs standardized processes.

The range of different products made. More variety needs more flexibility.

Changes in customer needs that require flexible operations.

Whether customers see the production process. Important for industries like hotels.

Anyone who has an interest in how a company operates, even if they don't own shares.

The important links a company has with people outside the organization.

An internal audit that checks if an organization follows its own policies and procedures. It aims to find and improve weaknesses in controls and may identify potential fraud.

This audit examines how effectively, efficiently, and economically a department or division operates. It's common in the public sector where profit isn't the primary goal.

This audit reviews the performance of managers and their divisions, suggesting improvements. It helps make sure managers are doing their jobs well.

This audit focuses on a company's performance in social responsibility and environmental issues. It checks compliance with internal policies and external regulations.

A specific investigation into suspected fraud, often initiated after an audit identifies irregularities. It aims to understand the cause, extent of the fraud, and prevent similar occurrences.

A review conducted at the end of a major project to assess its effectiveness and learn lessons for future projects. Sometimes internal audit teams participate to ensure objectivity.

A group of senior directors who oversee the work of internal auditors. They ensure auditors focus on key strategic risks and that their recommendations are acted upon.

This describes the process companies use to design, assemble, and produce products repeatedly and consistently.