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Influence of globalization in international business
Challenges encountered by multinational corporations
Corporate social responsibility m&s
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Globalization has driven companies to become more efficient by creating infrastructures that will provide the competitive advantage needed to not only survive but prosper. Its impact on the value chain of a given company means that said company has to learn how to effectively manage the related risks. Managing the value chain has become more complex as more companies realize conducting business internationally is not a luxury but a necessity. For banks, globalization offers both promise and risk. Promise in the gaining of new markets and customers. Risk in the form of political or economic risks. Therefore, the following considerations should be addressed:
Competitive advantage considerations
The value chain and competitive advantage complement
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Globalized companies like Citibank publish annual global citizenship reports to provide an overview of its strategic citizenship policies and programs (Patella, 2015). “In highly visible chains compliance with social and environmental concerns are central to the organization and governance of the chain and the relationships between local suppliers and global lead firms” (Lund-Thompson & Nadvi, 2010). Therefore, companies should insure its corporate social responsibility agendas reflect a shared ownership of …show more content…
Corporations are required to enhance capital flows. A practice widely used by different companies to reduce costs was and is outsourcing. Companies occasionally found purchasing from another company with a comparative advantage more affordable than offering the service or product internally. Banks are following this trend as well. For example, Citizen Bank signed a five year IT services deal with IBM resulting in IT jobs being outsourced to India and layoffs for American IT employees and contractors (Thibodeau, 2015). “If production is increasingly fragmented across geographic space and between firms, then how are these fragmented activities coordinated” (Gereffi, Humphrey & Sturgeon, 2005)? How will Citizen Bank and IBM manage its IT value chain to insure cooperation and avoid
Tesco has strived hard enough to incorporate other disadvantaged groups in the society in their social responsibility initiatives. This includes volunteering charity to Marie curie cancer center to the tune of 2.6 million (Tesco plc, 2009). They also conduct regular engagement and partnerships; this is aimed at value addition and incorporates competitors, NGOs and activists not forgetting academic bodies. This has enabled the firm to maintain a close relationship with its stakeholders improving social responsibility with the stakeholder’s perspective in mind. The benefits accrued to this can never be underestimated. One can conclusively say that social responsibility has been effectively implemented in Tesco PLC. This has been done with the stakeholders at the center of the initiative interest (Tesco plc, 2009).
Flex lunch — now in its second year — has been a staple of day-to-day student life in Center High School. CHS students have all the convenience in the world to decide which club they want to join during flex lunch. However, compared to its first year, flex lunch has seen a significant dip in the number of clubs available to students.
The latest official figures indicate that there are now more than 37,000 transnational companies controlling almost a quarter of a million subsidiaries. Ninety per cent or 34,000 are based in industrialised countries. Just over half of their subsidiaries are operating in the Developing World. 56% of the parent corporations have their base in the European Union but only 24% of their subsidiaries operate within European boundaries. The number of multinationals is growing daily and increasingly have a base in the newly industrialised countries.
School lunches use to be yummy, the favorite part of a child’s day, but now students moan and groan about going to lunch. Michelle Obama changed the guide lines for school lunches since her husband has been in office. She says that starting children out eating nutritious foods could longer there life, 1/3 kids in today’s society are obese or overweight. After Mrs. Obama changed the school lunches from good to healthy the percent in waste went up in schools. Since children aren’t eating, they aren’t getting the nutrients at all. Which is better? Having children eat food that is a little unhealthy or having children not eat at all and waste tons of food. Children around the United States aren’t eating lunch, they changed the standards, became stricter on snacks and now the food doesn’t taste as yummy.
Hunger is one of the leading barriers to children receiving an education. When children come to school hungry, they have trouble paying attention, see the school nurse frequently complaining of head and stomach aches, and display behavioral problems. Even in developed nations like the United States, 1 in 5 children experienced food insecurity at some point in 2013 (CTDB, 2014).
Outsourcing financial services is a risk that can endure expensive losses. A company can easily lose control of operations and lead itself away from its goals. Loss of controls on company activities and services can occur without proper coordination and communication. Financial firms that outsource their activities must have trust in their third party. The third party should be aware of what needs to be accomplished, and in what period of time. Without coordination, a company loses valuable time and money. A firm should clearly establish objectives and communicate constantly with its outsourced entity, to ensure operations and services are carried out successfully. For most firms, outsourcing is a cost saving strategy that can minimize operational
In recent years, companies are becoming socially responsible and now stakeholders almost expect a company to have CSR policies. Therefore, in twentieth century, corporate social responsibility (CSR) became an important development in public life (Barnett, ND).Corporate social responsibility is defined as “the ways in which an organisation exceeds the minimum obligations to stakeholders specified through regulation and corporate governance” (Johnson, Schools and Whittington, N.D cited in March, 2012). Stakeholders can be defined as “those individuals or groups who depend on the organisation to fulfil their own goals and on whom, in turn, the organisation depends” (Johnson, Schools and Whittington, N.D cited in March, 2012). There are many purposes for this essay, the first purpose is to descried the key principles of corporate social responsibility and explain their importance for stakeholders. Secondly, is to show how far this company follows those principles in order to be accountable to at least three of its stakeholders. In this essay, three stakeholders, environment, customers and employees will be evaluated respectively and the key principles of the stakeholders will be examined.
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
Even though there is such a large food production in India and they are one of the world’s largest food exporters, still so many go hungry. India’s economy has boomed in the past decades, creating an even larger gap between rich and poor.Even though their middle and upper class outnumber their poor, the population is so large that the amount of people below the poverty line is unprecedented. Malnutrition of the poor is India’s largest downfall in the area of food security and nutrition. It is more common for undernutrition to occur in rural areas of India, but it even happens in cities. According to Unicef, out of the 20% of children worldwide that are “wasting” (a person or a part of the body becoming progressively weaker and more emaciated), over one third are Indian citizens. If just regarding children under the age of five years old, 43% are underweight, and 48% (or 61 million children) have stunted growth due to malnutrition. Lack of education is a large contributor to the vast disparity of nutritional security. Children whose mothers have less than 12 years of school education are five times more likely to be
Global business today not only survives on corporate reputation but as well as social responsibility. Reputation is quite important for the smooth operation of the business especially in today’s internet age where information travels in a few seconds and impact is very fast. Consumers in the present day are more concerned with whether companies are good citizens to the community and for one to do business today it is required for companies to be good global citizens concerned with social responsibility besides profits. As companies
The concern about natural and man-made disasters and the economic impact beyond United States and other countries is due to globalization and international trade. Past thirty years, the world has gotten more connected through globalization and through international trade more reliant on upon each other. Because of the complexity of world economics, there is increased economic risk for that country as well as the international community.
Globalisation has been one of the most significant developments of the last half century, and issues such as trade and international commerce have become increasingly important. In consequence, problems such as poverty, unfair wages and poor working conditions in third world countries have been drawn to the attention of consumers (Hayes and Moore, 2007). This is a growing global issue which cannot be ignored by anyone concerned about the problems in developing countries. Free trade and Fair Trade have both been offered as solutions to these issues.
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
Using 1997 financial crisis and other examples, discuss how globalization is important to the modern business journalism. Introduction