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Hyundai Motor Companys global performance with regards to fulfilling its corporate social responsibility - Essay Example

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This paper will critically analyze Hyundai Motor Company’s global performance with regards to fulfilling its corporate social responsibility. The Hyundai Motor Company gives great emphasis on design and development of eco-friendly vehicles…
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Hyundai Motor Companys global performance with regards to fulfilling its corporate social responsibility
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Download file to see previous pages To illustrate, Hyundai Motor’s Chinese subsidiary won the ‘2011 Most Responsible Corporate Citizen’ award for the firm’s efforts in various social welfare fields. The Hyundai greatly supports the Chinese government in poverty reduction, traffic safety, sand prevention and control, and several other areas4. It is estimated that the company’s investments in the field of environmental sustainability in China would reach nearly 4.1 trillion and those investments may account for clean diesel vehicles, electric vehicles, and Blue Drive development plan5. In India, the Hyundai Motor India Foundation (HMIF) has made investments worth more than 20 million rupees in different social welfare programs6. The organization has begun its “Go Green” village based project in Tamil Nadu (an Indian State) in 2011 with intent to improve living standards of the region’s villages7. Considering the Hyundai’s contributions to the State, the company has been given the ‘Corporate Social Responsibility Award’ and ‘Best Commercial and Industrial Institution’ award by the Tamil Nadu State government8. According to Biwalkar, the Brand Trust Report study conducted in India in 2011, Hyundai was selected as the country’s 43rd most trusted brand9. Hyundai’s corporate responsibility programs benefit Chinese and Indian societies. To illustrate, these economies are still at developing phase and therefore they struggle to meet increasing infrastructure facilities and other living condition requirements arising out of a high level population growth. Evidently, the emerging economies greatly support Hyundai’s business and arrange improved operational facilities for the...
This essay discusses that modern society is highly concerned about environmental sustainability more than ever before. Consumers today tend to discourage businesses which are likely to cause toxic emissions or other forms of pollution. While analyzing the industrial world, it seems that majority of the organizations raises some sorts of challenges to ecological balance. For a multinational corporation like Hyundai Motor Company, the world’s fourth largest automobile manufacturer, the potential for environmental damage is higher. Since combustion of fossil fuels constitutes a huge portion of greenhouse gas emissions, modern consumers are increasingly switching their demand to eco-friendly vehicles. The most noticeable achievement of Hyundai is that the company could markedly reduce CO2 emissions on the strength of technological innovations. According to Environmental Protection Agency (EPA) 2011 Trends Report, Hyundai Motor America was ranked as the top automobile manufacturer in terms of fuel efficiency and CO2 emissions. Through its quality innovations, Hyundai developed green cars that are capable of reducing CO2 emissions and thereby promoting environmental sustainability. Reports indicate that such innovations assisted Hyundai to lower the CO2 emission volumes of its new models including i10, i20, and i30 blue to the range of 100g/km. Although the company has been successful in designing and executing social welfare programs as compared to other automobile manufactures, it still contributes to environmental and other social issues. ...Download file to see next pagesRead More
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