Corporate Social Responsibility - Hilton - 3197 Words

Corporate Social Responsibility Corporate social responsibility (CSR, also called corporate conscience, corporate citizenship, social performance, or sustainable responsible business/ Responsible Business) is a form of corporate self- regulation integrated into a business model. CSR policy functions as a built-in, self-regulating mechanism whereby a business monitors and ensures its active compliance with the spirit of the law, ethical standards, and international norms. CSR is a process with the aim to embrace responsibility for the companys actions and encourage a positive impact through its activities on the environment, consumers, employees, communities, stakeholders and all other members of the public sphere who may†¦show more content†¦in developing economies); projects that support sustainable economic growth by increasing opportunities for emerging local businesses to succeed in the global value chain; disaster preparation and resiliency; critical services including housing and hunger/food insecuri ty; †¢ Culture: includes education programs that foster cultural heritage, preservation and restoration of historic or cultural monuments; projects that bridge diverse cultures and foster inclusiveness and diplomacy; support for local sourcing and goods; †¢ Sustainability: includes projects that assist in the protection, conservation and restoration of natural resources and habitats; projects that educate and inform the public about sustainability; support for sustainable sourcing and purchasing. Unsolicited Requests for Funding: Given their focus areas, in general they do not accept unsolicited funding requests and prefer to invite requests for proposals that contribute to their strategic program areas. It will be the responsibility of the Corporate Responsibility team to invite such requests and these requests will be reviewed and evaluated by a Contributions Review Committee under the supervision of the Corporate Responsibility team. Opportunities At Hilton Worldwide,Show MoreRelatedCorporate Social Responsibility : Csr Essay1064 Words   |  5 Pages â€Æ' Table of Content Executive Summary 3 Introduction 4 Understanding the Importance of CSR 4 Corporate Social Responsibility Audit 6 Findings 6 Conclusion 7 Recommendations 7 Reference List 8 Executive Summary After investigating the current situation, I found that the poor working conditions and underpayment reduce loyalty and employees’ satisfaction, employees feeling pressure with high workload and poor working conditions, substandard waste disposal methods causedRead MoreMore Friendliness Administration Positions Are Being Taken By Alumni Of Neighborliness Administration1528 Words   |  7 Pagesdoubt of enormous business. Corporate social obligation obliges associations to exhibit capable business lead that does no mischief in the commercial center, in the work environment, in the group they work in, and to the regular habitat (Roberts, 2007). The activities of business effect the nearby, national, and worldwide group, so organizations have an obligation to guarantee that the effect is sure (Paton, 2007). What is CSR? Corporate Social Responsibility includes making business progressRead MoreCorporate Social Responsibilities Essay1603 Words   |  7 PagesOn September 13, 1970, Milton Friedman wrote and article, Social Responsibility of Business is to Increase its Profits. One of Milton’s theories suggested that the only legitimate incentive for a corporation to exist is to maximize its profits with its shareholders. As companies progress over time, so does the reason for the company existence. â€Å"What makes a stake holder?† Isabel Hilton (GE Stakeholders 2009) â€Å"What makes a stake holder? If you take a broad view of business then almost anyone whoRead MoreDevelopment of Triple Bottom Line Reporting and how this will Impact Financial Reporting and the Conceptual Framework2493 Words   |  10 PagesProfit seeking firms will not spend any dollar for non-value adding processing. (Smith, Thorne and Hilton, 2006) However, even with the lack of regulation, many organisations voluntary publicly release information about their social and environmental performance. (Deegan, 2009) According to Richard (1993) finding, investors intent to choose the company investing whether it demonstrates that is a market leadership or offer above average growth or bring in strong management. However, there are fewRead MoreCreating A Diverse And Inclusive Work Environment992 Words   |  4 Pages 2016). Diversity-Leaders need to know that they have to build accountability into their systems with regard to their managers taking responsibility for creating a diverse and inclusive work environment. Diversity initiatives can have important and interesting social justice benefits, but the real reason leaders pursue diversity programs is for innovation. Hilton Worldwide has any hotels and resorts across the globe with many background and variety of culture, and also has many guest travelling ofRead MoreHilton Hotel1075 Words   |  5 PagesHilton’s suppliers The touches that make Hilton Worldwide. Their supply management professionals in corporate offices and their six regional offices negotiate and implement contracts and agreements with suppliers of products and services in three key areas – Food amp; Beverage (Famp;B), Guest Rooms and Public Space, and Property Operations ------------------------------------------------- Food amp; Beverage Hilton Supply Management works closely with national and regional food and beverageRead MoreTransformation Is Run By Ceo Carole Anne Hilton1551 Words   |  7 Pagesand the social and economic capacity among First Nations communities. Their entire development and business goal is to establish governing structures, managing systems, and business development for First Nations people in order to establish a bright and structured future. Transformation is run by CEO Carole Anne Hilton who is driven by her ancestry and her passion to help struggling people. Hilton built the company off of the foundation of social and economic needs. Conventionally, Hilton runs herRead MoreMy Internship At The Hilton1130 Words   |  5 PagesDuring my internship at the Hilton, I have discovered hands on experience in the field I desire to have a degree in and hopefully land a job in after graduation. The amount of information I gathered and retained from this time frame in unimaginable. I thoroughly have enjoyed my stay at this hotel. The staff has been nothing but friendly and understanding. Everyone is willing to assist and direct me to the accurate direction to following proper procedures. Personally, if I could stay longer then IRead MoreInternational And Domestic Hospitality Companies1180 Words   |  5 Pagesimplementing eco-friendly initiatives is Hilton Worldwide. Hilton Worldwide is one of the largest global hospitality companies today, consisting of more than 4,500 hotels in 97 countries. Hilton’s history dates back nearly 100 years, and they continue to be one of the fastest growing companies in the hospitality industry. Part of the reason Hilton Worldwide continues to grow is their commitment to corporate social and environmental responsibility. Hilton Worldwide takes a comprehensive approachRead MoreIndividual Assessment Cover Sheet / Plagiarism Declaration Form8448 Words   |  34 Pages9 SERVICE: 9 INVESTIGATE THROUGH SOCIAL MEDIA: 9 RECOMMENDATION: 10 TOPIC 6 - BARS 10 BARS: 11 .DAN MURPHY’S 11 TOP SELLERS: 11 CLIENT CATEGORY: 12 BEST PROMOTION 12 EFFECTS OF CONSUMPTION OF ALCOHOL ON HEALTH 12 SURVEY 2013 12 TOPIC 7 – MICE: MEETINGS, INCENTIVES, CONVENTIONS, AND EXHIBITIONS 13 MICE IN SYDNEY 13 HILTON HOTEL 13 FOUR POINTS BY SHERATON HOTEL 13 PARK HYATT SYDNEY 13 COMPETITION ANALYSIS: 14 COMPARISON 15 TOPIC 8 - CORPORATE SOCIAL RESPONSIBILITY IN THE GLOBAL HOSPITALITY INDUSTRY

Management Forecasts Free Essays

â€Å"Management Earnings Forecasts: A Review and Framework† by D. E. Hirst, L. We will write a custom essay sample on Management Forecasts or any similar topic only for you Order Now Koonce and S. Venkataraman explained the antecedents, characteristics and consequences interlinked with earnings forecasts. Antecedents are characteristics that are prevalent prior to the consequence such as the existing environment/firm specific characteristics; and consequence is the outcome from antecedents and characteristics. Characteristics are the choices the management has deciding on how the report will be issued. The article guides the reader giving explanations of why management decides to release earnings forecasts, interactions of the three variables and its findings and how these findings may impact one period to another. Studies have found that management may issue forecasted earnings to reduce difference of opinions and/or information with the shareholders, to avoid litigation risks when the entity needs to make bad news disclosures and when managers have equity-based compensation tied to extend their wealth. Case Summary According to the case, â€Å"Management Earnings Disclosure and Pro Forma Reporting† by Mark T. Bradshaw and Jacob Cohen states that companies too often exclude information that negatively impacts the company’s earnings per share on their pro forma reports prior to releasing the financial statements that is in accordance with generally accepted accounting principles which is based on companies who have released such reports and the response to such reporting by the regulators. According to the case, pro forma reporting was originated by the SEC to provide earnings comparability for investors for differing time periods based on a â€Å"what if† analysis, meaning, what would have happened if this transaction had occurred and what would’ve been its impact on later reporting periods (Regulation S-X 1982). However, multiple incidents have shown that companies abuse the system. Proxim and Cisco, Inc. , both released their pro forma reports prior to their financial statements being released where both of the companies excluded the research and development costs, restructuring charges, mpairment/amortization of goodwill, which resulted in an overall positive net income with net income per share, whereas the financial statements in accordance with GAAP resulted in a loss with loss per share for both of the companies. Managers who are trying to disclose bad news about the company are more likely to issue earnings forecasts in order to avoid litigations (Skinner 1994, 1997). In addition, Trump Hotels and Casino, Inc. DJT) also excluded a onetime charge while including a onetime gain of $17. 2 million, exceeding the analysts’ estimates of $0. 54 per share to $0. 63 per share on their pro forma reporting (Burns 2002). The Securities and Exchange Commission (SEC) responded to their incautious reporting and DJT acknowledged the findings and consented to unyielding commitments if similar violations were to take place again. The DJT incident was the first time the commissions took action against abusing pro forma reporting. Financial forecast data rating agencies such as Standard Poor’s (SP) recommended for companies to include in their operating earnings such as restructuring charges, write-downs of assets, stock-option expenses and research and development costs and furthermore SP suggested companies to exclude from operating earnings the following four categories: 1) goodwill write-downs 2) charges for litigation 3) gains and losses on asset sales and 4) expenses related to mergers and acquisitions (Leisman and Weil 2001). Although SP made recommendations, Proxim, Inc. , still excluded restructuring charges, research and development costs while Cisco Systems, Inc. , also excluded restructuring, stock option exercise and research and developments costs on their pro forma reports, one of the reasons might be based on the belief that stock prices will fluctuate with high volatility, for example, when Rainforest Cafe announced earnings per share that was lower than expectations the stock price plummeted by 40% on a single day (Sloan and Skinner). Although managers may want to convince the investors their company’s value by providing pro forma reports that is plausible, they may want to consider the fact that this is only short term credibility because according to Hirst et al. (1999) only when the prior forecast is accurate do they consider future forecasts. The choices aren’t clear-cut on why the management continues to release misleading pro forma reports, the incentives behind them may be bonuses tied to stock prices or on the other hand management may want to release pro forma reports that is symmetrical to financial statements to reduce the asymmetry of information between managers, analysts and shareholders (Ajinkya and Gift 1984; Verrecchia 2001). It would be best for management to issue accurate pro forma reports to maintain creditability with the shareholders and the analysts because in the long-run the investors will depend on the entity’s reports for accuracy thus creating creditability which is the fundamental foundation of any business. How to cite Management Forecasts, Papers

BENEFITS OF BUDGET AND BUDGETARY CONTROL Essay Example For Students

BENEFITS OF BUDGET AND BUDGETARY CONTROL Essay Budget and budgetary control are the two most of import facets of any concern. The budgetary control acts as a complimentary facet to budget and plants and in manus. Budget can e termed as an accounting construct, whereby, an organisation and its members, seek to specify the tendency of activities of an organisation during a class of clip, depending on the past experience. Budgets, comes up assorted figures associating to gross revenues, purchase etc. and puts frontward a frame of mention in forepart of its employees and other members. Therefore, it helps an organisation to maintain a cheque on its present activities in relation to budget therefore provided, and this cheque in words can be termed as budgetary control. Budgets, by definition, have to be prepared in progress ; and as a consequence, frequently referred to as the provender forward system. Feed frontward incorporates the most of import facet of budgeting: looking at state of affairss in progress, believing about the impact and deductions of things in progress and trying to take control of state of affairss in progress. Budget and budgetary control seems to stream line the activities of organisations and provides a disciplinary mentality. Budgets are frequently termed as built-in portion of any concern and therefore, play a critical function in a organisational success. In the undermentioned study, an effort has been made to set across a brief overview in respect to the same. A budget can be described as a program expressed in quantitative and money footings. Budgets are normally prepared and approved in progress and take into consideration the period it needs to be used and the similar period on the old old ages. Budgets are prepared to set across a image whereby, an organisation tries to implement different actions and be aftering to achieve the budgetary figures. Budgets are prepared on a section wise every bit good as a whole. The budgetary figures put across helps an organisation to pitch up its activities and frequently act in hiking up the employee motive. However, since budget and budgetary facts and figures relates to future, the prediction and its readying should be taken attention off. Outline1 BUDGETORY CONTROL2 BENEFITS OF BUDGET AND BUDGETARY CONTROL3 LIMITATIONS OF BUDGET A ; BUDGETARY CONTROL4 Applicability of Budgeting and Budgetary Control5 The budgeting procedure6 The budget period7 Budget Centres8 Interrelations of budgets9 Decision BUDGETORY CONTROL As already mentioned, budget and budgetary control works manus in manus. A budget puts frontward the fiscal informations representation of certain facts and figures depending on the yesteryear, which needs to be fulfilled in the close hereafter. However, budgetary control ensures the fact that the budget is decently followed and an organisation attains the preset growing. In other words, the construct of budgetary control can be described as an action associating to the use on the budget to achieve pre-determined organisational success. The whole phenomenon can be described as a concatenation of activities whereby, budgets are prepared to achieve an organisational end and so, the successful execution and following those figures in different domain of activities can be described as budgetary control. In simple words, budgetary control relates to the constitution of budgets associating the duties of budget holders the demands of a policy. Budgetary control besides relates to the uninterrupted comparing of existent with budgeted consequences to guarantee that the aims of the same are decently achieved ; or to supply a footing for the alteration of those aims. In drumhead, a budget is a statement puting out the pecuniary, numerical or non quantitative facets of an administration s programs for the coming hebdomad or month or twelvemonth. Budgetary control is the analysis of what happened when those programs came to be put into pattern, and what the administration did or did non make to rectify for any fluctuations from these programs. Text and Traditions: Work Requirement One Historical Reconstruction EssayThe budget period The budget period is the period for which a set of budgets is prepared: typically the budget period is of one twelvemonth s continuance, and will be designed to co-occur with an administration s fiscal, or financial, twelvemonth. There is no ground why a budget period has to be one twelvemonth, but typically it is. However, a financial twelvemonth is normally divided into several smaller periods such as monthly or quarterly to maintain a close cheque on the departmental activities. However, in certain state of affairss, the budget period will be analysed harmonizing some peculiar characteristic of the work in that state of affairs: for illustration, stockbrokers have their twelvemonth divided into histories of two and three hebdomads continuance. These divisions of a budget period are control periods. Budget Centres Different organisations are tend to be divided in assorted organisational sections to guarantee the maximal benefit of the budget and the budgetary control. A budget Centre is one portion of an administration for which budgets are prepared. That is, a budget Centre, like a cost or net income Centre, is a subdivision of an administration ( division, section, edifice, person ) for which a separate budget is prepared. Interrelations of budgets As mentioned, different budget Centres get their specific budget and harmonizing to them they plan their activities. But, strikingly, all these departmental budgets has interlinked and possess inter-relationships and as a consequence, has to be worked out decently, in order to use it efficaciously. On readying of gross revenues budget, it can be easy noted that the same has got strong links with the stock budget and the stock budget has strong links with the hard currency budget. Therefore, when any of the budgets are changed it has its direct impact on the other related budgets. The more complex the administration and the more complex the procedures within that administration, the greater the figure and assortment of interrelatednesss that any budget for that administration is bound to incorporate. Decision In the above paragraphs, assorted facets of budgeting has been discussed. After all the treatments it can be farther concluded that a budget plays an built-in portion of any concern operations and in order to guarantee the proper use of budget and to maintain a close cheque on the different activities of an organisation, budgetary control is necessary. Both these procedure helps an organisation to achieve its organisational end. However, all the inside informations provided in this study are non absolute and are capable to assorted restrictions refering to limited cognition, clip and resources. But, we hope that the study will supply a brief thought about Te topic.