Philips Stakeholders Corporate Social Responsibility

Philips Electronics â€Å"Stakeholders (or interest groups) are tangible, visible and approachable groups or institutions which have a direct influence on the functioning of an organisation.† INTERNAL STAKEHOLDERS Employees Philips employees work in different divisions: Healthcare, Lighting, Consumer Lifestyle and Innovation amp; Emerging Businesses. Within these divisions, you can have a general leadership position, occupy a functional leadership position, you can be specialist, etc. Philips says it’s giving its employees freedom to develop and improve their skills and talents, it is challenging them to grow. Its employees therefore, are given an high responsibility, but they can also contribute their new ideas. Because when you work at†¦show more content†¦But this also works the other way around; Philips can go to its competitors websites and investigate their data as well. They can gain insights from this information: what does the competitor do different? Which products are they going to launch? What do their customers like about them? Etc. But competitors can also have a negative influence on Philips sales if it sells similar. This also becomes a problem when the competitor has che aper prices, or products of better quality. EXTERNAL STAKEHOLDERS Government A government of a country can restrict companies in doing what they would like to do. This can have a negative influence on its sales or even on its image. This happened to Philips in 2005, when it Philips America made a deal with Cuba to provide medical equipment (from Philips in the Netherlands) to the country, but they did not have the permission of the American government for this deal. So by making the deal, Philips broke the law and Philips Electronics North America Corporation was accused and had to pay a fine to the American government. After paying this fine Philips provided the needed equipment to Cuba, and that it would continue to do business with that country, but this time with the needed licenses. But apart from negative influence, a government can also contribute something positive to a company. Sometimes a government decides to protect certain sectors or products by givingShow MoreRelatedCorporate Social And Social Responsibility1383 Words   |  6 PagesAs the interest in corporate social responsibility has had the ability to keep increasing and developing and the force that is gain by movement, scholars and practitioners have put effort to follow the progress, development and information of companies’ performance to accomplish their corporate social responsibilities, characteristically to use a particular name corporate social performance (CSP) to describe it. 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