The Hyundai Motor Vehicle Company - Case Study Example

Hyundai Motor Business Name Course Title Tutor Date Introduction Hyundai Motor Business is the fifth best automotive manufacturing company that is multinational and has its headquarter at South Korea in a place called Seoul. One of the advantages that Hyundai motor vehicle has over other companies is the time and technology adaptation that it tries to fit over time. With great determination, we support social responsibility with corporate ingenuities, so as to accomplish the required policies of companies that repute interests of stakeholders (Caroll, 1999). As a result of being ridiculed on several faults before, Hyundai has made a point of capitalizing seriously on design, quality, manufacturing, as well as vehicle’s deep research before unleashing into the market. The warranty of Hyundai powertrain was added to 10 years to the stock vended in United States. Interest on United Nations Inordinate considerations have been undertaken in working hand in hand with the United Nation impact on globe, since much is expected in growing to the next level as the company brings influence to the society, not forgetting the economy at large (The United Nations Global impact, 2013). The ten principles that the United Nations Global impact has stated is strongly upheld by our company, Hyundai motor business. We uphold these principles through ensuring sustainability of supply chain as well as protection of the environment. By doing so, we shall help in promotion of a better future for everyone (Hyundai motor company, 2009). United Nations Global Compact Principles This report holds the Hyundai motor vehicle company endorsement report to the society so as to enable the compliance of principle 8 and principle 6: 8- ‘Businesses should encourage the development and diffusion of environmentally friendly technologies.’ 5.’ Businesses should uphold the effective abolition of child labour." (The United Nation, 2009). Hyundai Motor vehicle Company is ranked the fifth best automotive manufacturing company. To date, we stand as one of the best producers since we strive in all ways to change with times, as well as protect the environment and our workers. Our foremost agenda is to lead in the automating of our products through the use of low- carbon, as well as the green growth via the usage of improvement of technology that is environmental- friendly. This will go on hopefully through concentrating on our manufactured products, as well as amenities, in the hope of engaging in the development of a future that is sustainable for everyone (Hyundai motor company, 2003). Being an impending associate of the United Nations Global Compact, initiatives currently have been endorsed that promote principle 5 and 8 that support the creation of an unbiased working environment as well as protect the external environment (Bird et al, 2007). Practices of Principle 5 The Global Compact Principle five asserts that "Businesses should uphold the effective abolition of child labour." Hyundai asserts that child labour is a violation of human rights and hence has committed itself to abolishing all practice of child labour in its activities (Hyundai Motors, 2003). As part of our corporate social responsibility we are involved in initiatives to fight child labour in our subsidiaries worldwide. We are also concerned with issues of child labour for its own sake. We believe that each child should have a right to education which child labour deprives them of. Such children will not have the chance to get the necessary skills that our company and the economy needs if it is to develop technologically and economically. In line with principle 5 of the Global Compact, Hyundai motors have undertaken to support education programs which will put children from poor families in school. In partnership with education partners we have set up education scholarships in a majority of our spheres of influence. Hyundai being a transnational company and having subsidiaries all over the globe make it particularly vulnerable to reputation damage if it engages in child labour. We have developed policies that are aimed at enhancing awareness among the HR departments of all our subsidiaries regarding child labour. In the industrialized countries such as the US and the UK we have put in place measures to ensure that there is no instance of child labor particularly with regard to minority immigrant communities that are most vulnerable (Hyundai Motors, 2003). We have collaborated with non-governmental organizations to determine the ages of persons seeking employment in instances where records are not easily obtainable or are missing. As much as possible Hyundai motors employs international standards on child labour when such laws are superior than those of the countries in which our subsidiaries operate. Of great importance is the need to ensure that we do not collaborate with contractors and suppliers who violate international child labor laws. In instances where child labour is discovered in our subsidiaries we have put in place a policy of rehabilitating such children. Such children will be taken back to school and their parents or guardians given their job in order to ensure that the family does not suffer loss of income (Hyundai Motors, 2003). Practices of principle 8 The Hyundai motor company has a management system that upholds the protection of the environment. It was the first automaker from Korea to introduce this kind of system of management. According to the year 2003, June, the environmental system of management facilitated the company to elevate the systems that were related to the new environmental system of management of the environment. Protection of the environment is due to the respect of natural inhabitants. This environmental protection is done through careful disposal of the waste materials during and after manufacture of vehicles, upholding the company social responsibility through distribution of vehicles that are environmental friendly. Another way that this company promotes the protection of the environment is through the promotion of the usage of energy that is sustainable, that reduces the noxious waste throughout the life-cycle of the full product. Hyundai motor company strives to educate its employees with environmental programs, during activities that manage the environmental externalities. However, a great task it is to keep up with the expense incurred (Hyundai motors, 2003). Recommendations We are so determined to meet the terms with the United Nations Global Compact. There is a strong belief within, that we are able to endorse practice recommendations that will provide guidance to other businesses that will enable them improve the Global Compact Principle compliance. The company has gone through financial crisis before that it was ridiculed but later came to its feet and now it stands strong. Other companies should try their level best to discuss issues that affect their stakeholders, hence make a point of prioritizing the raised issues into making the working environment efficient enough. Another recommendation comes in whereby; adjustments should be done over time so as to be at par with any environmental issue coming up that may challenge the protection of the environment. Bibliography Bird, R. (2007). What Corporate Social Responsibility Activities are Valued by the Market Journal of Business Ethics 76(2): 189-206. Carroll, B. (2009). Corporate Social Responsibility. Business and Society 38 Hyundai motors, (2003). Retrieved from audit.hyundai.com United Nations Global Impact. (2009). Global Compact Principle 6, retrieved from http://www.unglobalcompact.org/AboutTheGC/TheTenPrinciples/principle6.html United Nations Global Impact. (2009). Global Compact Principle 8, retrieved from http://www.unglobalcompact.org/AboutTheGC/TheTenPrinciples/principle8.html United Nations Global Impact. (2013). Overview of the UN Global Compact, retrieved from http://www.unglobalcompact.org/AboutTheGC/index.html Read More