Reed Elsevier
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Reed Elsevier has five divisions that publish science, health, legal and business information. It has two main types of stakeholders - internal (shareholders and employees) and external (customers, suppliers, partners, community and society). Reed Elsevier works to meet the needs of all stakeholders. Potential conflicts can arise as different stakeholders have different priorities, but the company communicates policies beneficially to balance interests. Reed Elsevier believes this sustainable approach leads to long term growth.
Reed Elsevier
- 2. Introduction.. • Reed Elsevier is a leading provider of professional information solutions to organizations around the world. It publishes journals, books and databases and manages exhibitions and events. • Reed Elsevier was formed in 1993 when the businesses of the British publisher Reed International and the Dutch publisher Elsevier NV merged. • The company now operates in more than 200 locations worldwide and annual revenues for 2012 were over £6 billion.
- 3. The company has five divisions. • Elsevier – publishing science and health information to promote research and discovery • LexisNexis® Risk Solutions – provides data and analytics that allow customers to evaluate and manage risks associated with transactions and to improve performance • Reed Business Information – producing trade journals, blogs and web directories to deliver information to users worldwide • LexisNexis® Legal & Professional – provides legal, tax, regulatory news and business information and analysis to legal, corporate, government, accounting and academic markets • Reed Exhibitions – organizing events, exhibitions, conferences for over 44 industry sectors.
- 4. This case study shows how Reed Elsevier’s business benefits from meeting the needs of all of its stakeholders.
- 6. Internal stakeholders • Shareholders - • CR strategies benefit Shareholders by making the business attractive to investors and improving its share value. • • By reducing costs and therefore improving revenues and efficiency, Reed Elsevier steadily increases the dividends paid to its shareholders. • Employees - at all levels are an important internal stakeholder group. Reed Elsevier retains its diverse and talented employees who bring professionalism and energy to their roles. This helps the business to provide the highest levels of customer service, attract new customers and retain existing ones.
- 8. External stakeholders • Customers - expect good value, high-quality products and great service. Reed Elsevier achieves this through close relationships and consultation with customers. It conducts widespread surveys of customer opinion. • Suppliers - also hold a stake in the company to which they provide materials and services. • Partners - Reed Elsevier has established partnerships across its different divisions. Partners in the supply chain, such as one of Reed Elsevier’s printers in China, also benefit from its responsible approach to production. By applying the Supplier Code of Conduct, the printer found that improved conditions led to better quality output, lower turnover of staff and greater employee loyalty.
- 9. • Community -Reed Elsevier’s initiatives make a difference to communities around the world. The RE Cares programme is supported both centrally and in all business divisions. This programme encourages staff to work together to make a difference in local communities. More than 30% of employees volunteered through RE Cares in 2012: • Society - Reed Elsevier’s CR approach impacts on society in several ways: • In line with its Code of Ethics, it promotes responsible advertising and a transparent editorial policy for its publications. • • Reed Elsevier is committed to reducing use of energy, water and paper in its publishing processes and using sustainable materials wherever possible. It has seen a 33% reduction in paper between 2008 and 2012, sourced 33% of its electricity from renewable sources and prevented an increase in water consumption despite growing business revenue by nearly 15%.
- 11. Potential stakeholder conflict It is important for a business to balance the interest of its various stakeholders. Different stakeholder groups have different priorities, for example: • Shareholders expect the business to make a profit and receive a return on their investment. • Employees require good working conditions if they are to be retained. • Investors may want to see evidence of how a company responds to environmental issues before committing money to the business.
- 12. The Problem is… Reed Elsvier is focusing on the – • investment in ‘green’ energy (such as from solar or wind farms). • Employees training & development. • And managing a good Customer Relationship. But all the different groups of stakeholders taking it as another expense which leads to the increment in the cost which can affect overall production and loose the competition.
- 13. Reed Elsvier Need to communicate the Policies to all stakeholders in a beneficial way…
- 14. Employees Organizational goal Implementa tion of plans with full communicat ion Mutual accomplis hment of goal Employees Shareholders Investors Ethics
- 15. The benefits of a stakeholder focus • If Reed Elsvier shows the long term benefits from its plans n projects to the stakeholders like investment in ‘green’ energy (such as from solar or wind farms) may be more expensive but can help the company reduce its environmental footprint. • development opportunities to the employees so that they can reach their potential. • innovative ideas that create cost-effective and convenient solutions to their business challenges. For example, Reed Elsevier’s online services provide customers with the opportunity to cross-link, cross-reference and search for information. This has helped to ensure that 64% of revenues now come from online products and services.
- 16. Conclusion • Some activities may not give immediate financial return on investment but support the business’ ethical standards. Such policies need to be communicated and explained to all stakeholders involved, so they understand the longer-term value they provide. • And also The company believes that by living up to its responsibility to contribute positively to its employees, customers, society and the environment in the carrying out of its business, it has a sustainable business model leading to growth.
- 17. Thank you
- 18. Presented by: • Sarfaraj Khan M.B.A(033) • Gaurav Chauhan M.B.A(033)