Succesful Companies- Immunization to Global Economic Crisis: Understanding Strategic Role of NGOs

One of the most important secrets of succesful companies is the fact that cooperation with NGOs will create a good reputation for them so that they can be immunized to economic crisis. The performance of the most admired companies in the world based on the ratings of Forbes and Fortune show us that most of these firms also have close relationships with their NGOs. Today, if companies do something wrong this information spreads very quickly to do the society. If people do not like the activities of a company, it can find itself in public relations nightmare that can threaten its repuation. Since the cost of communication has dropped dramatically due to the vast use of internet, the increase in communication among stakeholders via internet makes companies more visible. These multiple and interdependent interactions among the network of stakeholders is called as the network relationships. NGOs play the role of catalyst among the stakeholders of a firm to enhance the awareness. Succesful firms are aware of this fact that NGOs have a central role in today-s business world. Firms are also aware of the fact that they can enhance their corporate reputation via cooperation with the NGOs. This fact will be illustrated in this paper by examining some of the actions of the most succesful companies in terms of their cooperations with the NGOs.

Corporate Social Responsibility Practices of the Textile Firms Quoted in Istanbul Stock Exchange

Corporate social responsibility (CSR) can be defined as the management of social, environmental, economical and ethical concepts and firms sensivities to the expectations of the social stakeholders. CSR is seen as an important competitive advantage in the textile sector because this sector has an important impact on the environment and it is labor extensive. Textile sector has a strong advantage when compared with other sectors in Turkey due to its low labor costs and abundancy of raw materials. Turkey was a producer and an exporter of cotton, and an importer of fiber, clothes and dresses until 1950s. After 1950s, Turkey has begun to export fiber, ready-made clothes and become one of the most important textile producers in the world recently. CSR practices of the textile firms that are quoted in Istanbul Stock Exchange and these firms sensivities to their internal and external stakeholders and environment will be presented in this study.