Corporate behaviour

Role and Importance of Corporate Behaviour
– Corporate behaviour plays various roles within different areas of a business, such as overcoming problems like language barriers and intense competition.
– It enables managers to improve flexibility and empower employees, leading to happy employees, effective teams, and innovative ideas.
– Corporate behaviour strengthens relationships within organizations and reflects the values and ethics of the business.
– Positive corporate behaviour creates a strong brand image and enhances the importance associated with it.

Influential Factors on Corporate Behaviour
– PESTLE factors (Political, Economic, Social, Technological, Legal, and Environmental) significantly influence corporate behaviour.
– Political factors, such as changes in government legislation, can affect corporate behaviour.
– Economic factors like recessions impact corporate behaviour, such as reducing jobs and impacting skills and ideas within teams.
– Social factors, such as changes in trends and the market, affect corporate behaviour, requiring organizations to adapt their products or services.
– Technological changes also affect corporate behaviour, such as reducing face-to-face meetings and weakening relationships between management and employees.
– Legal factors, such as legislative rules and tax increases, impact corporate costs and may require operational changes.
– Environmental factors, addressed through Corporate Environmental Responsibility, prevent damage to the environment but may weaken corporate behaviour through reduced communication in remote work.

Stakeholder Influence on Corporate Behaviour
– Stakeholders influence corporate behaviour and show interest in Corporate Social Responsibility (CSR).
– Adopting the stakeholder theory appeals to stakeholders and strengthens corporate behaviour.
– Strategic CSR is considered a marketing strategy and a potential source of competitive advantage.

Related Concepts
– Business ethics, corporate crime, corporate culture, corporate governance, corporate law, corporation, normative ethics, PESTLE analysis, shareholder, and stakeholder concept are related concepts to corporate behaviour.

Additional Points and Notes
– Quality of life, corporate identity, and communication contribute to competitive advantage.
– Political risk and organizational behaviour also influence corporate behaviour.
– Culture defines the brand.
– The link between strategy and society connects competitive advantage and corporate social responsibility.
– The National Business Ethics Survey provides insights into misconduct in businesses.
– The stakeholder approach is important in strategic management.
– Sustainable competitive advantage requires a strategy. Source:  https://en.wikipedia.org/wiki/Corporate_behaviour