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Doing well by doing good: Strategic development of socially responsible behavior can build reputation, strengthen knowledge management and drive innovation

Downloads: The fulltext of this document has been downloaded 983 times since 2011 DOI (Permanent URL): 10.1108/02580541111177548
Article citation: , (2011) "Doing well by doing good: Strategic development of socially responsible behavior can build reputation, strengthen knowledge management and drive innovation", Strategic Direction, Vol. 27 Iss: 11, pp.30 - 32

Strategic development of socially responsible behavior can build reputation, strengthen knowledge management and drive innovation Abstract
Purpose – This article aims to describe how one company has used an ethical approach to strengthen a competitive position based on knowledge management and technological innovation.

Design/methodology/approach – The article presents a case study of Indra, a leading Spanish technology company, showing how it has integrated corporate social responsibility within its strategic objectives.

Findings – What can you do to get and keep that competitive edge? One firm thinks it has found the answer by incorporating ethical behavior and corporate social responsibility (CSR) into every aspect of its activities. It seems that a corporate culture focused on ethical behavior can improve your standing and reputation inside and outside the company, so that employees, shareholders and communities at large see the organization as ready to do the right thing, rather than motivated exclusively by making money.

Practical implications – The article explains how basing competitive advantage on ethics and social responsibility can benefit stakeholders and improve long-term profitability in a technology-driven company. It shows how embedding ethical considerations and CSR as a basic aspect of strategy development and communicating this approach to stakeholders affects employee motivation and behavior, together with company reputation.

Originality/value – The article demonstrates the connections between corporate social responsibility initiatives and human resource development in an organization reliant on knowledge management as the basis of innovation. Article Type:

 
General review
Keyword(s):
 
Corporate social responsibility; Business ethics; Competitive advantage; Management behaviour; Employee attitudes; Human resource development; Company profitability; Spain; Corporate strategy. Journal:

 
Strategic Direction
Volume:
 
27
Number:
 
11
Year:
 
2011
pp:
 
30-32
Copyright ©
 
Emerald Group Publishing Limited
ISSN:
 
0258-0543
What can you do to get and keep that competitive edge? One firm thinks it has found the answer by incorporating ethical behavior and corporate social responsibility (CSR) into every aspect of its activities. It seems that a corporate culture focused on ethical behavior can improve your standing and reputation inside and outside the company, so that employees, shareholders and communities at large see the organization as ready to do the right thing, rather than motivated exclusively by making money. At least, that is what researchers found when they talked to managers and analyzed annual reports at Indra, a high-tech Spanish company with a leading position in information technology in Europe and Latin America. Since 2005, this company has made great efforts to integrate CSR and ethics into every aspect of its strategy. In Indra's business, innovation and the creation of new knowledge are critical determinants of profitability. It follows that employee involvement with the innovation process is crucial, as people in possession of strategically valuable tacit knowledge will only be prepared to share and apply that knowledge when they are highly motivated. For a company such as Indra, an increasingly complex competitive environment makes it critical to manage: * value creation from strategic knowledge; and

* consistent guidance...
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