Formal (rules and regulations) and informal institutions demand for better environmental and corporate social responsbility from firms. As a result, sustainability has become a key focus for multi national enterprises as it enabled companies to achieve better organizational performance. One of the Human Resources Management(HRM) function consists of assisting in creating and implementing sustainability strategy in various ways. Human Resources(HR) ensures that the employees of a global firm implement the strategy consistently across the globe. A sustaniable human resource management uses various methods and tools to create a global worksforce that trusts the organization and its strategies towards the global sustainability.
Balmer (1998) corporate marketing mix dimensions which called the (11P’s) measured the performance of any corporation through the brand quality that they introduced it to the market. Performance has considered as one of these dimensions due to the importance of corporate brand quality on stakeholder’s decision to build the identity with these corporate brands (Balmer and Greyser, 2006). The performance of any product or service is part of brand quality which helps to build its reputation for the market. Corporate brand covenant as Balmer (2012) defined is related to the stakeholders understanding and expectation to what the brand delivers to the market in terms of quality and value. This clarification for the corporate brand covenant concludes to give attention to the important role that the quality of any brand played to build customer and stakeholder’s satisfaction and respect.
What is corporate social responsibility (CSR)? According to the Wikipedia Corporate social responsibility (CSR) is a company's obligation to be accountable to all of its stakeholders in all its operations and activities with the aim of achieving sustainable development not only in the economical dimension but also in the social and environmental dimensions. (en.wikipedia.org/wiki/Corporate_social_responsibility retrieved:10/09/07); another definition is that ¡°CSR is about how companies manage the business processes to produce an overall positive impact on society.¡± (mallenbaker, http://www.mallenbaker.net/csr/CSRfiles/definition.html. retrieved:10/09/07) In another words, it is most likely to be described as the commitment of corporate contributes to the society in order to maximize the benefit to all the related stakeholders. The stakeholders include the owners, investors, employees, customers, government, suppliers, competitors and the community.
The economy of the United States flourished before, during, and right after the years of the war because the war itself helped the US economy. World War One allowed for the United States to advance as a country due to the changes that occurred within the US during the war, the advancements in the medical and technological fields to help win the war, and the improvement of the economy and businesses within the country because of the war. Throughout the time that the United States was involved with World War One, the US was developing into a more advanced country. Right before the start of the war, Congress passed the Literacy Bill, which tightened up the country’s immigration laws. The Literacy Bill made it so that people who were illiterate were unable to enter the country.
It focused on integration between developed countries as Europe, North America, and Japan restored trade regulations through a series of joint trade liberalizations. At this time, third world countries other poor countries were being pushed aside while these three countries renovate trade regulations to restore satisfactory trading. The most recent wave of globalization, which started in 1980, was stimulated by a combination of advances in transportation and communication technologies. Can you imagine not having a cell phone or the Internet? From a student's perspective, this era of globalization, has greatly increased and ... ... middle of paper ... ...omy and the people living in this country.
But what is the right thing to do when it comes to social responsibility? Is the decision that was made also ethically correct? “Strict government regulations are necessary to make companies behave ethically.” Business ethics defines how a company integrates core values – such as honesty, trust, respect, and fairness – into its policies, practices, and decision making. Business ethics also involves a company’s compliance with legal standards and adherence to internal rules and regulations. In today’s world, a large number of companies are designing values-based, globally consistent programs that give employees a level of ethical understanding that allows them to make appropriate decisions, even when faced with new challenges.
L’Oréal: One of the World’s Most Ethical Companies Every business entity has social responsibilities. The four theories of social responsibility are the maximization of profits, moral minimum, stakeholder interest and corporate citizenship. Social responsibility goes hand in hand in regard to a company’s ethical standing. As a company, it’s crucial to have high ethical standards. The Ethisphere Institute ranks businesses annually to be named on their honorable and highly recognized list of the World’s Most Ethical Companies.
Thus, some of the processes, programs, and reports Dell using to identify and measure performance is examined. Performance Measures Dell Computer Corporation believes stakeholders must be given long term value by ensuring the company commits to and integrates economic, social, and environmental sustainability into its business practices (Litten, 2005). Hence, Dell’s commitment to this goal is evidenced by becoming a Ceres company (Fleming, 2006). Ceres is a national coalition of investors, environmental groups, and public welfare organizations assisting companies with sustainability efforts. Thus, Dell was lauded for being the first in the computer industry to partner with Ceres (Fleming, 2006).
For example, there has been a broad trend toward decentralization. Large companies have been working hard to become more nimble and to find ways to offer employees higher-powered incentives. At the same time, external capital markets have taken on a larger role in capital reallocation, as evidenced by the large volume of mergers and divestitures throughout the '90s. The corporate governance structures in place before the 1980s gave the managers of large public U.S. corporations little reason to make shareholder interests their primary focus. Since the mid-1980s, the American style of corporate governance has reinvented itself and the rest of the world seems to be following the U.S. lead.
With all the resources that corporations have, they need to be socially conscious and make investments in their communities that they are stationed in. This is called corporate social responsibility, or corporation will abide by labor laws, be environmentally friendly, and are upholding human rights laws. CSR is defined in many ways for example philanthropy, or "going green." CSR can be in a sense a way to smooth over bad press or being in hot water with the community. According to James Epstein-Reeves of Forbes.com there are many uses of CSR such as being innovative, saving on cost, brand differentiation, long-term thinking, customer engagement and employee engagement.