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Corporate governance and business ethics of Diageo

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  1. Introduction
  2. Theoritical grounding
  3. Diageo background
  4. Corporate report social analysis
  5. Responsible drinking area
  6. Conclusion
  7. References
  8. Appendices
    1. Stakeholder theory of the firm
    2. The pyramid of social responsibility
    3. Diageo in second life

In spite of a global crisis, global businesses are reaching record profits like Exxon. In fact, businesses are more powerful than ever and the biggest ones are even wealthier than some countries (Leonard, 2008; Johnson et al., 2006). The power of these corporate influence policies and could dominate some governments. In this situation, business malpractices could have dangerous consequences on many areas like environment and citizen's safety. Consequently, it is crucial that companies adopt ethic behaviors with social responsibilities. According to Heery, ?corporate social responsibility (CSR) is the belief that the management of large corporations should not be directed solely at the generation of profit but should also take into account the impact of corporate activity on employees, customers, suppliers, communities, and the physical environment? (Heery, E. & Noon, M., 2001). However, ethics and CSR are subjective concepts that face to many theories and ideological positions. As example, the free market economist Milton Friedman disagree with the previous point of view by supporting that the social challenges of corporate management is to create shareholder values focusing on increasing profits first (Davis, 2005).

[...] Along with, the CEO has stated in the corporate citizenship 2008 that the company will focus more on organic growth than acquisitions with a special interest in emerging countries (Diageo, 2008) The company involves important communications to promote an image clean, friendly and ethically-oriented company with commitments to 'corporate social responsibility' (Corporate watch, 2005). Furthermore, several actions are undertaken to be a good corporate citizenship and Diageo would like to lead the industry in that respect. Showing strong values with a wide range of priorities, Diageo is focusing on good sustainable business. The company was rank 5 by Fortune in the world admired companies of beverages industry (Fortune, 2009). III CORPORATE SOCIAL REPORT ANALYSIS Diageo makes important effort to demonstrate and communicate its implication in ethics and social responsibility. [...]

[...] As it is recognized and viewed in the theoretical grounding's part, consumers will have better confidence in companies which promote social responsibility so the responsible business choice of Diageo will surely bring considerable benefits on the future. VI - REFERENCES BOOKS Crane, A. & Matten, D. (2004) Business Ethics, Oxford University Press. Crane, A. & Matten, D. (2007) Business Ethics: Managing Corporate Citizenship and Sustainability in the Age of Globalization 2nd ed., OUP Oxford. Crane, A., McWilliams, A., Matten, D., Moon, J. [...]

[...] Hence, Diageo does not want to be associated with misusing drinking and try to make responsible drinking a value attached with its slogan enjoy part of life. The aim to be the world leader of responsiveness on alcohol uses. Its approach is funded on responsible marketing, fight alcohol misuse and promote a standard of the meaning of responsible drinking thanks to several initiatives, communication campaigns, training, partnership and collaboration with stakeholders. Diageo has defined three axes to achieved its strategy of promoting responsible drinking through Combating alcohol misuse, Raising consumer awareness and responsible marketing and product innovation which are evaluated in the following paragraph and sum-up in appendix To combat alcohol misuse, Diageo has established many programs. [...]

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