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LRN, a research company geared at developing cultures through education and management solutions, discusses in an article the necessary convergence of global principles as practiced by the company and the local policies as applicable to each branch toward the development of the company. From the beginning, a company who wishes or is already venturing into the world market must produce a code of conduct that shall govern its employees and the way it conducts business. This must be adopted and transferred into the international subdivisions in compliance with the local laws and customs to create an cohesive ethical standard for everyone. The disparity in the assessment of the perfomoance of headquarters prevailing over its international counterparts must be addressed. Local managers play an important role in solving this issue and education is the key (LRN, pp. 2-4).
In effect, the company, guided by these principles as set by its headquarters creates the need for what could otherwise be described as a community in the international scene distinctively recognizable as its own. It becomes a microcosm of the ideals and goals of the company magnified in each of its locations. But this must still be in acquiescence with local laws including its own drawbacks dealt with. Ethics is an fundamental part of any business operation as our time suggests and this is well within the bounds of the necessity for corporate social
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The paper tries to address the issues faced by the companies in the management of the company. The paper also discusses the guidelines laid down by the United Nations Global Compact in maintain international standard of management of resources along with the impact of good governance on the health of a business in the global world.
Introduction UN Global Compact is a voluntary initiative which plays an important duty in the boosting of accountable corporate citizenship and may complement government activities. Contribution of businesses is identified or functioning of countries within the extending responsible corporate partnership practices involving the UN Global Compact which boosts the ongoing contribution in these charitable initiatives and persuade exchange of experiences within enterprises to boost the corporate social accountability (Groves, 2009).
As this paper says marketers who view customers as mere consumers and not members of the community are said to be myopic. Customers must be viewed as people with long term plans in the in the global market place. According to Jocz and Quelch, customers are political members of the global village.
Though CSR initiatives was initiated by the multinational companies with the objective of returning something to the society for supporting them in generating revenue, however, soon it became a method to save some money through activities like tax evasion.
However, similar systems at a Global level have not matured to a great extent given that the span of expectations of the global users and the local impacting factors varies considerably depending upon diverse Cultural Factors, Language, Writing style, Local beliefs, Currency, choice of graphics/icons, Annotations, Business Styles, etc (Perrault and Gregory, 2001).
General Electric has a solid mission with excellent career training and career development for employees. These concepts have allowed General Electric to become one of the largest global success stories in the world. Thus, as a result of General Electric's success, I would continue to focus on the global aspects that have already allowed the company to achieve so much; the focus on integrity and diversity, which allows General Electric to reach customers throughout the globe.
A global leader today has to be at ease with the present day vagaries of international business and has to have a new or special set of qualities to be able to carry the business forward. (Dianne Jacobs, 2006). With
In addition to that, there should be a special code of ethics customized to the individualistic laws of the various countries in which the branches operate. The special code of ethics should include additional rules and
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