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The Emerging Importance of Corporate Social Responsibility in a Fair Trading Environment: The Consumer Protection (Fair Trading) Act and beyond
- Mr Stephen Loke
In 1997, it was realised that there was a need for a Fair Trading Legislation in Singapore to reverse the trend of increasing unconscionable behavior by businesses. After seven years of lobbying, it appears that the Consumer Protection (Fair Trading) Act is now within the reach of Consumers. It is hoped that the proposed legislation -which has been released in draft form for consultation- will indeed help to level the playing field for consumers against the tide of bad business practices, and also help good businesses to be recognised and forge ahead with consumer support. The proposed legislation however has posed a challenge to businesses and requires a mindset change. How will the proposed law affect your business? What are the possible provisions in the law that require consideration? The paper hopes to walk participants through the challenges ahead and the future trends of Corporate Social Responsibility.
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Responsible Management: Organisational Response to The Consumer Protection (Fair Trading) Act
- Mr Douglas Walter
Living with the ACT:
For a responsible business the Consumer Protection (Fair Trading) Act should be just a starting point. The Act sets the minimum standards that all traders are expected to achieve. This presentation will take participants to the next level of conscientious behaviour in the marketplace. Initially the discussion will set them thinking about the implications of the Act for their business and how good traders can be advantaged by the Act.
Complaints cost:
The presentation will then move on to a discussion about how it is advantageous for traders to extend themselves beyond that basic requirement by adopting a Dispute Avoidance Strategy (DAS) and the impact that will have on their bottom line. The presenters will then expand on the elements of a DAS, including Codes of Conduct, its impact on ongoing customer loyalty and ultimately on future business and sustainability. Participants will be challenged to think about what they have done in their business to stop complaints happening. The presentation will then discuss critical ‘moments of truth’ in winning and keeping customers.
‘Sometimes the wheels fall off!’:
What sorts out the ordinary from the excellent is the way the trader recovers from problems. The test arrives when the customer complains. How do you manage a complaint to turn it into an opportunity?
“We must strive for a dazzling recovery and remember that 90% of recovered customers become loyal” Chris Daffey.
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The Corporate Social Responsibility Impetus for Improvement: Fair Trading and Responsible Management as Drivers of Organisational Excellence
- Mr Brian Thomas
The principles of Fair Trading are consistent with efforts to achieve and sustain Organisational Excellence. This paper outlines how fair trading practices can be built into an organisation’s systems. These responsible management practices act as drivers of Organisational Excellence. By integrating principles of fair trading and corporate responsibility into business systems, organisations are able to consistently deliver higher value to customers.
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Enhancing the Role of Businesses in Society: Management, Legal and Policy Perspectives on Corporate Social Responsibility"
- Dr Kernaghan Webb
Increasingly, firms from the Asia-Pacific region and elsewhere are discovering that it is no longer sufficient to simply provide quality products and services. Now, consumers, workers, communities, investors, shareholders, governments, and others are demanding that firms demonstrate, in all their activities, that they are socially, environmentally, and economically responsible. In this presentation, Dr. Webb will explore why the phenomenon of Corporate Social Responsibility (CSR) is assuming such prominence, key pressures for CSR, an overview of the proliferating approaches, key features and principles of CSR, challenges, integration with legal approaches, and the current ISO efforts to explore the feasibility and
desirability of ISO CSR standards.
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Enhancing Wealth through Increased Accountability: Corporate Governance
- Mr Justin Wee
Good corporate governance enhances long-term shareholder value through enhancing corporate performance and accountability. In Singapore, the Code of Corporate Governance requires listed companies to disclose their corporate governance practices and to give explanations for deviations from the Code in their annual reports for Annual General Meetings held from 1 January 2003 onwards. Such information will form the basis of the market's perception and assessment of the level of corporate governance of the company. The paper will provide an overview of some of the recommendations of the Code and how they can be effected in business to increase levels of communication and transparency between all stakeholders so as to ensure an appropriate balance of power and increased accountability.
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Turning Nightmares into Sweet Dreams - Deriving Positive PR Value from Responsible Management
- Mr Andrew Pirie
In this age of heightened economic competition and media coverage, any business can be subjected to serious scrutiny from a range of stakeholder. From journalists to investors, and community leaders to environmental activists, it seems that all eyes are waiting for you to slip up. In addition, perceptions play a big role in public relations, so you can be accused of wrongdoing even when no wrong has taken place. What can be done? An effective approach to Public Relations in the context of a wider Corporate Social Responsibility programme takes a wide view of the people, organisations and institutions that have influence on the operation of your business. It engages these stakeholders early and often, builds alliances and even mobilises your allies when you are challenged in the public arena. Effective PR can serve as a form of perception insurance that protects you from undesirable or unexpected scrutiny, and it can ultimately be a positive force for growing your business by building good will among important stakeholders.
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Self-regulation and Corporate Social Responsibility in Marketing Practices
- Mr Ong Tiong Hui
Do companies which are managed in a socially responsible manner stand to benefit from improved financial bottomlines with the better reputation generated? What is the incentive for companies to behave responsibly through self-regulation in their marketing practices? Is the force of law the only incentive that will lead to widespread responsible marketing practices? If this is the case, we may have problem if the law has not caught up with the expectations of customers in general. This presentation will attempt to discuss these and other questions with suitable examples.
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Updated as at
Wednesday, 02 July 2003