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.
Then, it can help to incorporate all potential/actual costs and benefits into the equation, such as environmental social externalities to get the prices right. Therefore, a management accountant can help to make these social costs more visible in order to be used in decision making and reporting. Also, the company will be more accountable due to the potential efforts of a management accountant. Management accountants play a central in the implementation of corporate social responsibility. Moreover, a management accountant involves in sustainability reporting which includes triple-bottom line and corporate social responsibility, like environmental, and social performance indicators.
This section summarizes conceptual issues from Global value chain (GVCs) literatures that are relevant to paper’s objectives. It provides the overview of global value chain theory, and the most important concepts. Nowadays, the globalization of economy is increased, products of one country can be consumed in other foreign countries. According Gereffi and Fernandez-Stark (2016), the evolution of GVCs has an important role in global trade, production and employment and how developing countries firms, producers and workers can access into the global economy by linking firms, workers and consumers. Especially, in developing countries, the ability to effectively joining into GVCs is a vital condition for development.
The big data can create value to the business success in terms of innovation and differentiation, to improve organizations’ performance and productivity, and to increasing the ability to make better decision. On the other hand, Big data can be challenges such as the importance of privacy and security, and talent of organization to find the full value of Big data. Body According to the research by MGI and McKinsey's Business Technology Office, big data will become a key basis of competition, underpinning new waves of productivity growth, innovation, and consumer surplus. (3) So that big data provide the companies more opportunities to discover data correlations before would have remained hidden. Dominic and David (2012) mentioned Bigger and better data give companies both more-panoramic and more-granular views of their business environment.
Globalization has global benefit and cause for concern. A few of the global benefits are more efficient markets, increased competition, stabilized security and more wealth equality throughout the world. More efficient markets is what the economy and the country should looking and hoping for. An efficient market help the country to see that there is a gesture that the market is working. If the market is working then there is a stability between what the sellers are willing to sell and what the buyers are willing to buy.
As Banks increasingly focus on their core business, they will be ever more dependent on an integrated network of partners and suppliers to meet customers’ requirements of flexibility and convenience. IT will play a strategic role in helping Banks efficiently and cost-effectively build and swiftly adapt to customer demand. We are entering the next wave of computing where IT is aligned with business and used as a driver of competitive advantage rather than simply a tool to drive down costs. The survey also indicates that companies will increasingly turn to IT as a competitive tool for better predicting customer behavior. Respondents cited changes in customer needs and behavior as the single most significant challenge to product and service innovation that companies will face over the next five years.
Customer social responsibility can build the loyalty and trust that both ensure a bright and sustainable future in business. In our global society, corporations are becoming increasingly visible, and are judged on their results and behaviour. The reputation of a brand is achieved, in part, as a result of corporate governance. By integrating corporate social responsibility into your business as a core value, you are contributing to a better society and will be recognized for doing so. Businesses can increase their CSR by supporting public expectations, focusing on long-run profits, complying to ethical obligations, boosting their public image, bettering the environment, discouraging further government regulation, balancing responsibility and power, remembering stockholder interests, and building a superiority of prevention over cure.
Decision-Making in Global Organizations In today's business environment, there is sustained pressure for companies to maximize productivity in order to be competitive in the marketplace. Many businesses are moving a variety of activities, such as manufacturing and product development, to countries with low labour costs. They are also opening up sales channels in many new markets. The resulting global organizations need to structure themselves, so that they can effectively manage operations across numerous locations. This paper looks at how the organizational structure of a global company influences decision-making at the regional level, and how this can affect the business performance.
CSR has become a new alternative in the conception and doing business that encompasses economic, social, and environmental operations for achieving competitive advantage. The advantages of company implement CSR. In the view point of firms, CSR may also create new business opportunities. The firm created a competitive advantage through the ethical and responsibility and the firms also exposure from societal contributions in the media and communications make the marketing advantages. According to the European Commission's CSR's current strategy, which aims not only to minimize the negative impact of the enterprise, but also establish a conducive business and social innovation of new products and services... ... middle of paper ... ...ween the competitors.
The Millennial generation specifically will be called upon to become business leaders who embed CSR into the values and strategy of the company, rather than just meeting minimum regulatory requirements. If this happens, innovative technology will emerge and diffuse globally, making the world more connected than ever before. Consumers will have high expectations for businesses and their leaders, demanding that companies act proactively, rather than reactively to social and environmental problems around the world.