DUBAI, U.A.E., Dec. 4, 2020 /PRNewswire/ — Mehrzad Ferdows, during his speech weighed in on the necessity that Organizations need information about who their customers are, what their expectations and needs are, and how their needs should be met.
Mehrzad Ferdows, who is a leading entrepreneur, advisor, investor and Industrial Engineering graduate from University of Southern California reiterated on the importance of CSR activities on the long-term growth of the companies during his speech.
“The attitude of companies and institutions in terms of expanding the competitive environment is inevitably focused on attracting more and more customer satisfaction to sell and make more profit. With the transition from the traditional economy and the intensification of competition in new dimensions, the customer has become the main pillar and axis of all activities of organizations; In a competitive way, the survival and continuity of organizations depends on identifying and attracting new customers and retaining existing customers,” said Mehrzad Manuel Ferdows.
Mehrzad Ferdows added Many experts today believe that for reasons such as privatization and the transfer of economic power from governments to organizations, and as a result of the shrinking of governments, governments do not have the resources and power to solve social and environmental problems, and organizations must help in this regard.
The benefits of adopting the principles of social responsibility for organizations are:
-Promotes the brand and increases credibility.
-Due to high commercial credibility, the organization will be able to attract more capital resources.
–Reducing the risks of accidents and tragic events.
–Improving the working environment and thus improving productivity
Mehrzad Ferdows continued most experts believe that short-term social responsibility costs and benefits are often long-term. Social responsibility is a kind of investment for the future in the hope of gaining a sustainable and long-term competitive advantage. Short-sighted senior managers do not bear the short-term costs of social responsibility and easily ignore it, arguing that social problems can only be solved by governments. On the contrary, managers who have a long-term vision are willing to spend money to improve the welfare of society, solve social problems, environmental pollution, improve working conditions, respect human rights, participate in public affairs, etc. Benefit from social progress and, on the other hand, gain credibility for themselves in society and among their customers and stakeholders.
Mehrzad Ferdows stated the legal dimension refers to the fact that the organization seeks to comply with the legal requirements imposed by the legislature, and those stakeholders whose rights are deemed necessary by law are considered. For example, the organization respects the rights of minorities when hiring. The economic dimension refers to the fact that the level of compulsion to observe the economic dimension is so high that the organization seriously endangers its life by not observing it. At this level, a small percentage of internal and external stakeholders is considered. Among the internal stakeholders, the owners and shareholders pay special attention to the customers due to the provision of the necessary capital and among the external stakeholders. The ethical dimension refers to the fact that the organization goes beyond the necessities of profitability and legal requirements and tries to observe ethical principles in relation to society.
“At this level, even if the ethical activity is against the profitability of the organization, the organization does it. Also, a wider level of internal and external stakeholders that are not provided for in the law are subject to the moral and social responsibility of the organization, and the level of compulsory activity of the organization at this level is low, in other words, the organization acts voluntarily. The charity dimension refers to the extent to which the organization is involved in community value issues; It can raise the image of the bank in the eyes of customers, such as charities,” added Mehrzad Manuel Ferdows during his speech.
Mehrzad Ferdows added there are different views on the legitimacy and value of companies’ adoption of corporate social responsibility principles. Some experts believe that social problems should be solved by governments. This group believes that organizational resources are not enough to solve social problems and organizational resources should not be wasted to solve society’s problems. Another group of experts believe that although governments are primarily responsible for solving society’s problems, organizational participation is a breakthrough in this area. These experts believe that, since economic power has been transferred from governments to organizations today, the participation of organizations in solving social problems is necessary Mehrzad Ferdows concluded.
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