Search Results for: corporate social responsibility

Putting the responsibility into personal and corporate social responsibility

Putting the responsibility into personal and corporate social responsibility 0

by • Comment, Environment, Wellbeing

corporate social responsibilityYou’re probably aware of the experiment performed by Stanley Milgram in which volunteers were asked by men in white coats to administer what they believed to be electric shocks to another person, who they could not see, but could hear, from behind a screen. Around two-thirds of the volunteers agreed to deliver what they were told to be potentially fatal shocks to the subject, who they could hear screaming and begging them to stop. What they didn’t know was the person they were agreeing to inflict this on was in fact an actor. Although now questioned, Milgram’s findings remain the famous of a series of studies that have attempted to highlight the willingness of humans to bow to authority figures and comply with group norms irrespective of what their own morals might tell them.

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Family firms focus more on corporate social responsibility

Family firms focus more on corporate social responsibility

by • News, Workplace design

corporate social responsibilityCompanies owned by families pay more attention to issues of corporate social responsibility (CSR), such as sustainability and environmental issues, according to research from Vlerick Business School, but the research also found that attention to CSR decreases as the company is handed down to the next generations. Dr. Kerstin Fehre, Professor of Strategy at Vlerick Business School, alongside Dr. Florian Weber from the Karlsruhe Institute of Technology in Germany, studied family firms and the attention they gave to CSR compared to non-family firms. The study, published in the journal Business Ethics: A European Review, used over a hundred of the largest HDAX listed companies in Germany and analysed messages to shareholders published in annual reports. (more…)

People are more charitable if they think their employer is environmentally and socially conscious

People are more charitable if they think their employer is environmentally and socially conscious

by • Business, Environment, News

Employees are more likely to make donations and willingly volunteer outside of work if their employers engage in environmentally-conscious activities, finds new research from Mannheim Business School (MBS). The findings have been published in the Journal of Business Ethics. (more…)

The final word on … responsibility

The final word on … responsibility

by • Business, Comment

There have been many experiments  over the years that expose the darker aspects of human nature. One of the most telling of these was carried out by two American researchers called John Darley and Bibb Latane in 1968. The two men’s work was partly inspired by a notorious 1964 murder in which a woman called Kitty Genovese was stabbed to death in public. The murder took place over a period of around half an hour, during which a number of witnesses who watched the crime from their windows failed to help the victim.

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Biophilia in the corporate HQ: an historical perspective

Biophilia in the corporate HQ: an historical perspective

by • Architecture, Environment, Facilities management, Features, Workplace design

In recent years, the concept of biophilia and the inclusion of greenery in the working environment has captured the media’s attention, which has depicted it as an important aspect of wellbeing in the workplace, seemingly the crucial indicator of a great office. For this reason, and beyond the superficial or cosmetic use of plants in the office, I would like to analyse the relationship between nature and the corporate world from a historical perspective in an effort to understand the role of greenery within the architecture of the corporate headquarters.

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The impact of technology, cyber-risk and the future of corporate real estate

The impact of technology, cyber-risk and the future of corporate real estate 0

by • Features, Property, Technology, Work&Place, Workplace design

It’s no surprise to say that technology is having a significant impact on the workplace and the use of corporate real estate. The fast pace of change has seen technology impact all aspects of business, government and culture, as well as personal life, with a constant flow of new innovations and solutions helping us to do things more quickly and efficiently. Equally, technology also provides a challenge to business and, more specifically, corporate operations, with a whole array of disruptive technologies.

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Corporate responsibility now essential to attract and retain millennials

Corporate responsibility now essential to attract and retain millennials 0

by • Flexible working, News, Workplace

carrotCorporate social responsibility is no longer seen as more than a nice to have, with those working within the built environment for example, appreciating the role it has in reducing greenhouse gases. But it is also being increasingly seen as a positive way of attracting and engaging the right talent. Now according to a new survey carried out in the US, meaningful engagement around CSR is becoming a business – and bottom line – imperative, impacting a company’s ability to appeal to, retain and inspire Millennial talent. Three-quarters (76 percent) of Millennials consider a company’s social and environmental commitments when deciding where to work and nearly two-thirds (64 percent) won’t take a job if a potential employer doesn’t have strong corporate social responsibility (CSR) practices, according to the 2016 Cone Communications Millennial Employee Engagement Study. Because the millennial generation are the most likely to blend their personal and working lives, it’s more important to them than other generations to view their job as a way to make a positive impact on society, the study suggests.

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Corporate real estate sector needs to step up to meet new challenges

Corporate real estate sector needs to step up to meet new challenges 0

by • Knowledge, News, Property, Workplace design

US corporate real estateThe corporate real estate profession will be influenced, disrupted and transformed in the years ahead by a powerful combination of forces that are re-shaping business strategy and operations, consumer preferences, and how and where people want to live and work, according to a new report from CoreNet Global. The Bigger Picture: The Future of Corporate Real Estate draws on the expertise of more than 30 thought leaders to provide insights from multiple perspectives beyond CRE: technology and the internet of things; risk mitigation; cyber security; environment, energy and sustainability; corporate social responsibility; the global economy; people, talent, wellbeing; and the future of cities. The report argues that CRE must deliver greater value in this dynamic business environment and a world that is changing rapidly, is more interconnected than ever before, is constantly disrupted by technological innovation, and is replete with both risks and opportunities.

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Corporate social reponsibility remains a vital part of the business armoury

by • Comment, Environment, Facilities management, Insight promotion

Corporate Social responsibilityThere is now an unstoppable energy for radical change in the way that companies of all sizes conduct their Corporate Social Responsibility duties. There are compelling economic and social reasons for companies to construct new ways of thinking and practice around CSR that go way beyond just doing something worthy or nice, from building effective partnerships to attracting top employees. Some companies prefer terms like ‘corporate responsibility’, ‘corporate conscience’, ‘corporate citizenship’, ‘social performance’, ‘sustainability’ or even ‘future-proofing’ over CSR. But the core CSR principles are that a business voluntarily commits to embracing responsibility for its actions and to impacting positively on the environment, on society and on consumers, employees and other stakeholders. (more…)

Companies must develop a social purpose to survive

by • Environment, Knowledge, News, Technology, Workplace

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Company reputations could collapse in minutes and more firms will develop an explicit ‘social purpose’ according to a new report from Global corporate responsibility consultancy Corporate Citizenship. “Future Business: the four mega trends that every company needs to prepare for” identifies four mega-trends that it says are likely to shape the nature of business over the coming decade. According to the consultancy, over the last year the proportion of S&P 500 companies that report on sustainability performance has grown from one in five to over half and the over the coming decades, it expects at least as much change again.

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How Charles Handy changed the way we speak about the workplace

How Charles Handy changed the way we speak about the workplace

by • Comment, Facilities management

 

Originally published in 2019. There are writers whose language pervades our discourse so extensively that even those who have never heard of them will echo not only their sentiments but also their means of expression. One of these people is Charles Handy, who has just published his latest book 21 Letters on Life and its Challenges at the age of 87. His work resonates to this day and not least because he was so far ahead of the curve in detailing many of the characteristics of modern organisations and the challenges created for everybody by the changing nature of work and business. (more…)

The future of procurement: navigating a digital and strategic evolution

The future of procurement: navigating a digital and strategic evolution

by • Company news

In recent years, procurement has transformed from a back-office function to a strategic driver of business valueIn recent years, procurement has transformed from a back-office function to a strategic driver of business value. As global supply chains become more complex and businesses strive for greater efficiency, sustainability, and agility, the future of procurement is set to change even more dramatically. Technological innovations, data-driven insights, and a shift in priorities are reshaping the way organizations manage their sourcing, purchasing, and supplier relationships.

This article explores the future of procurement, focusing on the trends, technologies, and strategies that will define this critical business function in the coming years.

 

 

 

 

  1. The Rise of Digital Procurement

One of the most significant trends shaping the future of procurement is digital transformation. Traditional procurement processes, which were often manual and time-consuming, are being replaced by automated, digital solutions. Technologies such as artificial intelligence (AI), machine learning, robotic process automation (RPA) are streamlining procurement workflows, enhancing transparency, and improving decision-making.

Artificial Intelligence (AI) and process orchestration are transforming procurement by streamlining complex tasks and improving overall efficiency. As highlighted in Tonkean’s blog, AI can eliminate time-consuming manual work like managing approvals, chasing stakeholders, and navigating complex systems. The use of AI-powered orchestration allows procurement teams to unify systems, automate routine tasks, and facilitate collaboration. This leads to faster cycle times, better process adoption, and more time for high-value strategic work, ultimately positioning procurement as a key business partner.

 

Key Areas of Digital Transformation:

– Automation of Routine Tasks: Tasks like purchase order creation, invoice processing, and supplier matching can now be fully automated, allowing procurement professionals to focus on more strategic initiatives.

– AI-Driven Insights: AI can analyze vast amounts of data to identify trends, predict demand, and assess risks, enabling more informed decision-making.

Impact:

The adoption of digital technologies will lead to faster procurement cycles, reduced errors, and significant cost savings. Procurement professionals will need to adapt to new tools and skills, such as data analytics and AI-powered decision-making, to remain competitive.

 

  1. Data-Driven Decision-Making

Data is becoming the new currency in procurement. With the vast amount of data now available through various channels—supplier data, market trends, and performance analytics—procurement teams have the opportunity to make more strategic decisions. Advanced analytics tools are enabling organizations to turn raw data into actionable insights, optimizing procurement strategies for cost reduction, risk management, and supplier performance.

How Data Impacts Procurement:

– Supplier Relationship Management: Data analytics can help procurement teams evaluate supplier performance, identify key areas of improvement, and foster stronger, more collaborative relationships.

– Risk Mitigation: Predictive analytics can forecast potential supply chain disruptions, allowing organizations to proactively manage risks such as supplier bankruptcies, geopolitical instability, or natural disasters.

– Cost Optimization: By analyzing purchasing patterns and market trends, procurement professionals can negotiate better contracts, reduce maverick spending, and ensure cost savings across the board.

Impact:

The ability to harness and analyze data will be critical for the future of procurement. Organizations that leverage data to drive decisions will be able to build more resilient and cost-efficient supply chains.

 

  1. Sustainability and Ethical Sourcing

As consumers, investors, and regulators increasingly prioritize sustainability, procurement teams must align with corporate social responsibility (CSR) and environmental, social, and governance (ESG) goals. This shift means that procurement will play a central role in ensuring that businesses source goods and services from environmentally and ethically responsible suppliers.

Key Areas of Focus:

– Sustainable Sourcing: Procurement teams will need to ensure that suppliers adhere to environmentally friendly practices, such as reducing carbon emissions and minimizing waste.

– Ethical Labor Practices: Ensuring that suppliers comply with labor laws, prevent human rights abuses, and foster fair working conditions will become a priority.

– Circular Economy: Procurement will increasingly focus on sourcing products that can be recycled, reused, or repurposed, contributing to a more circular economy.

Impact:

Sustainability will no longer be optional for procurement teams. To remain competitive and compliant, procurement professionals must prioritize ethical and sustainable practices in their sourcing strategies.

 

  1. Supplier Collaboration and Innovation

In the future, procurement will shift from a transactional function to one that focuses on collaboration and innovation. Instead of simply managing suppliers, procurement teams will work more closely with them to co-create value and drive innovation. This shift will require a new approach to supplier relationships, one that emphasizes trust, transparency, and mutual benefit.

Key Changes:

– Supplier Collaboration: Rather than viewing suppliers as vendors, procurement teams will treat them as partners in innovation. This collaboration can lead to the development of new products, improved processes, and shared efficiencies.

– Long-Term Relationships: Procurement will focus on building long-term, strategic partnerships with suppliers, ensuring that both parties can innovate and grow together.

– Innovation Hubs: Some organizations may establish innovation hubs or programs where procurement teams and suppliers collaborate on research and development, bringing cutting-edge products and services to market faster.

Impact:

Collaboration with suppliers will become a competitive advantage, enabling organizations to innovate, adapt to market changes, and deliver more value to customers.

 

  1. The Strategic Role of Procurement

As procurement evolves, its role within the organization will become more strategic. Instead of being seen as a cost-saving function, procurement will increasingly contribute to business growth, innovation, and resilience. This shift will require procurement professionals to develop new skills and capabilities, such as strategic thinking, cross-functional collaboration, and leadership.

Key Areas for Strategic Focus:

– Procurement as a Value Creator: Procurement will move beyond cost-cutting to create value through innovation, risk management, and sustainability.

– Cross-Functional Collaboration: Procurement teams will work more closely with other departments, such as R&D, marketing, and finance, to align procurement strategies with broader business objectives.

– Leadership and Influence: Procurement leaders will need to influence key stakeholders and contribute to strategic decision-making at the executive level.

Impact:

The strategic elevation of procurement will lead to greater influence within organizations, enabling procurement professionals to drive business success through innovation, resilience, and sustainability.

 

 Conclusion

The future of procurement is one of transformation and opportunity. As digital technologies, data-driven decision-making, sustainability, and supplier collaboration reshape the procurement landscape, professionals in this field will need to adapt and embrace new skills and strategies. By doing so, they will not only optimize procurement processes but also contribute to the long-term success of their organizations.

Procurement is no longer just about sourcing the best deal—it’s about building resilient, ethical, and innovative supply chains that drive business

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