Corporate Social Responsibility Addendum
Executive Summary
My plan to delve into the music industry encompasses the establishment of a recording studio with the name, Airwaves, and Ripples. I plan to start up a studio that shall provide a space or young and upcoming artists of every genre to express themselves. These shall even include other types of entertainers, such as poets and spoken word artists. The large state of the art studio shall open its doors to every person and allow them to find themselves and build their talents. It shall provide them with a chance to make the world know their work and pass on their message. I plan to start on my short, medium, and long-term goals immediately. These range from acquiring office space in a secure and conducive environment. It should also be at a location that most people would deem accessible at any time without any difficulty. The other goal is to hire a competent and committed team. They shall be the drivers of the dream and also the people in charge of the operation of the company. These shall include a manager, assistants, producers, and recording engineers. They shall facilitate all the other goals, including the purchase of the necessary equipment and furniture within the office.
The primary stakeholders of the studio shall include the employees or the staff, our clients, and the community. The employees shall work in teams to produce collaborative and quality work. They shall promote the organization’s mission of offering the artists a chance to make something of their work, grow in the whole industry, and change their lives and those around them. The clients also hold a significant position because the studio will only be successful when they are. Their satisfaction shall be a priority because the studio shall aim to help them achieve their dreams. This case shall also be in line with our vision of seeing a world where such entertainers have avenues for reaching the masses. The company shall also work to uphold such values as integrity, commitment, and passion. These shall drive the work and encourage everyone to do their best at what they set out to achieve.
Music Industry Trends
The music industry is one of the most dynamic and ever-changing sectors ever. According to Interiano et al. (2018), music has a magical note to it that must always move some people. As the world changes and centuries pass by, everything about music is also changing. The audiences are evolving, the musical genres are growing, and there is more market for it. Interiano et al. also notice that different generations like and prefer different types of music. The current trends include more adoption of streaming services,. Don't use plagiarised sources.Get your custom essay just from $11/page
Such trends in the corporate culture and social responsibility have an impact on business ideas. They promote the scope of a music business beyond making profits. Research by Li, Khalili & Cheng (2019) in China looked at trends and concepts around corporate social responsibility of some companies. The work showed that, in terms of sustainability, most projects focused more on environmental than their social impact. However, the implementation of both social and ecological moves positively impacted the business. The results also proved that the motivation levels of companies also depend on the economic conditions or per capita of the region in which they operate. The corporate culture of a company ties to the commitment levels of employees. These facilitate their drive towards giving back. Corporate social responsibility is a form of self-regulation, although it improves the image of a company. For Airwaves and Ripples to have an excellent rapport with the community, it shall need to care and also improve their conditions. As a result, these cases impact on the business idea as they are determinants of an organization’s ability to not only adopt meaningful trends and integrate them but also make their standing better with all the stakeholders and people involved. These include the workforce, clients, and community.
Ethical and Regulatory Issues.
There are several types of ethical and regulatory issues that prod and affect the music industry daily. Because of technological and digital developments, there has been an increase in piracy issues against the work of artists. Piracy refers to the unauthorized use of another’s work. Shah (2019) points to India and their continues disagreements with the United States over piracy issues. Piracy cases are hurtful to the clients as it denotes stealing without giving any credit to the owner of the work. Such cases have raised a lot of legal and ethical issues over the century, although less has changed. Shah even points out the fewer enforcement powers that Indian authorities exercise in such cases. There are laws in place, such as a Copyright Act, and the country is a member of several international treaties and conventions, although it does less to stop such occurrences. The recording industry faces this challenge that emanates of software and website developers as well as the consumers. There have been a lot of court cases around the same as they result in the loss of millions for the clients, companies, and the government. Other ethical issues that could arise and affect the music industry are unauthorized streaming of works or even leakage of documents and other property. The laws in place to prevent such events rarely work as ethical issues sometimes contain a lot of baggage and may be hard to trace. Streaming sites, such as Youtube, have been accused of being exploitative by making a lot of money from the work of artists and paying them less in return. These are discouraging as the artists feel the pinch and that they are not compensated enough for their efforts.
The regulatory issues that may arise in the course of the business are also numerous. These may range from going against regulations to utterly breaking the law. They may need prompt resolution and may even include going to court. One such case that has become rampant over the years is plagiarism in sounds and concepts of music. In some instances, some music may end up having similar beats without the author’s or artist’s knowledge. In such a case, the accuser would need to prove that the people they are going against could have heard the song or piece, disregarded its owner, and taking it for their own. The case of the Christian rapper Flame against Katy Perry’s song ‘dark horse’ is an example of these. Although the court overturned it in March 2020, the jury had initially given a verdict requiring Katy Perry’s side to pay a fine of two point eight million dollars. Lim & Kim (2018) study copyright issues and their prominence in the music industry in Japan and Korea. They suggest that there is a need for everyone in the music and other symbiotic sectors to understand the scope of copyright laws. They should know about copyright fees, collecting regulations, and all the rules in both countries. Accidental copying of work should not be an excuse. Another example of regulatory issues that may come up is regarding samples. There can arise instances where a producer or artist uses a portion of another’s work without prior agreement. Even in the case of an agreement between the parties, one may still go beyond the scope of the agreement. There have been many cases to the same as in 2014 when the record label VMG Salsoul sued Moby for allegedly taking unlicensed samples for the songs ‘Thousand’ and ‘next is the E, even though they used it more than twenty years ago.’ These cases also point out the need for caution while one uses another’s work because the suit may come much later when one least expects. Such cases may damage an artist and all the concerned parties’ image and also lead to several financial losses.
Leadership and decision-making
While the employees of a company are the enforcers and doers of all the required work in the organization, leadership is the most significant body. According to Khoshhal & Guraya (2016), leaders are determinants of the ways that their subordinates perform and commit to their jobs. The leadership and decision-making personnel are vital to the direction that the business takes, how it responds to factors such as trend development, and how they improve the working of the whole organization. The leadership and decision-making aspects have also undergone changes over the years, including trends. Some of the changes that most businesses are incorporating include the decrease in the adoption of age-based seniority. It was common practice to promote and give titles to the eldest members in the organization. The rest of the company would, therefore, respect them out of age and also seniority. However, because of millennials occupying a more significant percentage of today’s workforce, businesses have come up with different strategies for bestowing seniority. These include considering their qualifications, their relations, and commitment to the job and other colleagues, and also a passion for the work. These cases ensure that only suitable candidates with the credentials and motivation get the job.
Another trend in leadership is the investment in human capital and enforcing relationships and engagement with the employees. As in the case of Airwaves and Ripples, most organizations are adopting transformational, servant, and authentic leadership styles. These enforce relations between the people in higher positions with everyone else within the business. They aim to ensure that as the business grows, everyone progresses at the same rate. More organizations are adopting less transactional styles but strive towards forming more meaningful relationships. Also, organizations have adopted a more flat structure giving the workforce more space and responsibility. They are their bosses and can make decisions that they deem best in every instance. Such arrangement also ensures that there are fewer hierarchies and less time spent in bureaucratic ladders before a department makes a decision. Such trends are growing with the incorporation of open offices where the employees can interact easily with each other. These ensure more productivity, accountability, and job satisfaction for the workforce. Everyone in the company, therefore, ends up feeling like a winner.
The outcomes of such trends of trends, corporate culture and corporate social responsibility
As businesses grow, they encounter more challenges, including competition and more hurdles within the internal environment. They face developments such as things that are trending, the need to enhance their corporate culture, and also to enforce the communities around them through corporate social responsibility. All these can influence the growth of business positively or negatively. However, the incorporation and excellent execution of the same, such as trends in leadership and decision-making aspects, only tend to improve the standing of the company. Some of the trends, such as the redesign of the management structure, only aim at giving the company a competitive edge. The incorporation of honest relationships ensures that there is no more top-down handing of instructions. Excellent managers should aim at being good leaders to encourage and motivate the subordinates (Osborne & Hammond, 2017). They should, therefore, feel free to approach such management and be open to their views and opinions. The outcomes of such trends are improved work relations, more commitment levels, and better productivity. The corporate culture should also improve, making the employees loyal and faithful to the industry. This case would also enhance the turnover rates within the business. A company that is excelling can only do so if their environment is also on the same page. As a result, corporate social responsibility ensures that as a business thrives, their environment does not remain behind. These include their standing within the community. Society makes up the group that produces clients and consumers of any product. The image of the company therefore, improves when the community accepts, appreciates, and values the company. These also enhance the operation of the business.
Conclusion
If the company recognizes and implements all the ideas discussed above, there is bound to be both intrinsic and extrinsic rewards from the same. The incorporation of ethical standards and practices ensure the smooth running of the company and more leeway to expand to other markets. Excellent leadership and considering the trends in the industry also places the company at an advantage as it becomes aware of environmental changes and develops in line with the same. One of the intrinsic rewards that emerges is the improvement in corporate culture. The employees become more committed to work as they feel a sense of achievement. The flat structure and transformational leadership also ensure they feel valued and that the company appreciates their contribution to the business. The extrinsic rewards include the improvement in the business image hence attracting more clients. These would lead to more financial income and promotions for the company (Khan, Waqas & Muneer, 2017). As the company grows, it will also be able to reach more people and the community around it better.
References
Interiano, M., Kazemi, K., Wang, L., Yang, J., Yu, Z., & Komarova, N. L. (2018). Musical trends and predictability of success in contemporary songs in and out of the top charts. Royal Society open science, 5(5), 171274.
Khan, N., Waqas, H., & Muneer, R. (2017). Impact of Rewards (Intrinsic and extrinsic) on employee performance: with special reference to courier companies of city Faisalabad, Pakistan. International journal of management excellence, 8(2), 937-945.
Khoshhal, K. I., & Guraya, S. Y. (2016). Leaders produce leaders and managers produce followers: a systematic review of the desired competencies and standard settings for physicians’ leadership: Saudi medical journal, 37(10), 1061.
Li, K., Khalili, N. R., & Cheng, W. (2019). Corporate social responsibility practices in China: trends, context, and impact on company performance. Sustainability, 11(2), 354.
Lim, M. S., & Kim, K. (2018). A Study on the Legal Issues of Music Copyright in Korea and Japan. Advances in Social Sciences Research Journal, 5(5).
Osborne, S., & Hammoud, M. S. (2017). Effective employee engagement in the workplace. International Journal of Applied Management and Technology, 16(1), 4.
Shah, U. (2019). Digital music piracy in India: Issues and Challenges. International Journal of Research in Social Sciences, 9(6), 709-721.