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Background Of Multinational Corporations
Globalization in business activities
Globalization in business activities
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Recommended: Background Of Multinational Corporations
Introduction
After going through a careful consideration of my familiarity with a number of multinational corporations that I selected earlier, I chose Henkel (Henkel AG & Company, KGaA), a manufacturing company headquartered in Germany, to be the corporation that I am going to analyze in depth. Size wise, “the company has some 47,000 employees worldwide and counts among the most internationally aligned German-based companies in the global marketplace.” (Henkel, 2014) Aside from having a broad employee base and solidly built financial resources, it also has branches scattered all over the world, including Hong Kong. Business wise, Henkel chiefly runs in three areas. They are household products, personal care products, adhesives that can be found easily at any local supermarket or grocery store.
Should the corporation adhere to the sustainability principles?
Yes, it should. The quote “Development that meets the need and aspirations of the current generation without compromising the ability to meet those of future generations.” (Bruntland Report for the World Commission on Environment and Development, 1992) defines sustainability, it is also considered as the original definition for sustainable development. From the perspective of a CEO, operating a sustainable business can aid the company to cope with today’s fast paced environment and competitive landscape, it does not merely favor our mother earth, it benefits the company in terms of economic achievement as well. Running a sustainable business can be interpreted as fulfilling three key aspects; to be eco-friendly, to assist society, to be profitable. Here are some reasons why companies should stick to these principles. First and foremost, saving cost. Using fewer resources is...
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...genda through contributing their skills and knowledge. So as to involve every single one in the practices, sustainability is therefore a fundamental part of the training programs that they offer. The company is also regarded as one of the best employers among all, it performs so well in various employer rankings. It recently topped the chart in the “Universum Top 100 Ranking”, which indicates people are willing to work in the company. Henkel is also a part of the Corporate and Brand Engagement, “as part of our corporate engagement, Henkel and its brands directly enter into social partnerships in the communities around the world. We support schools and universities, social initiatives and public institutions.” (Henkel, 2014) In 2013, the company made donations of $7.1 million euros and supported over 3000 projects of social needs, education, health, art and culture.
The following case study critiques Upton’s vision to establish a sustainable community through implementing comprehensive sustainable strategy. The urban periphery development is thought to demonstrate superior execution of sustainable principles in development (Jackson 2007). As a parallel, the report focuses on the development of Upton’s design code and demonstrates how large -scale mix-use developments can incorporate sustainable practice and principles of urban growth.
The Haier group wants to figure out how it can grow its company in foreign markets such as the ones in Europe, India and America. Haier wants to know, if any, of its practices in China can help them branch into a foreign market and be successful. Consequently, the company wants to figure out ways it can apply what it has learned outside of China into the Chinese market and vice versa. The company wants to learn from practices that have worked and ones that have not to enable them make good decisions across the organization. We think that if Haier does not address their concerns, they not only will lose market share in China (due to increase competition), but they will also miss an opportunity to capitalize and grow their company worldwide.
Globalization Phase, companies were known locally, regionally and internationally, their products were already improved offering innovative services. However, as The Economist (2007) has highlighted, while more global the companies are more aware of corporate social responsibility they need to be, namely, foreign stakeholders will expect, not only innovative and effective products, but also they will open their doors and invest their money to companies that are social responsible.
Multinational enterprises date back to the era of merchant-adventurers, when the Dutch East India Company and the Massachusetts Bay Company traversed the world to extract resources and agricultural products from colonies (Gilpin 278-79). While contemporary multinational corporations (MNCs) do not command the armies and territories their colonial counterparts did, they are nevertheless highly influential actors in today’s increasingly globalized world.
Sustainability is an issue that everyone should be concerned about. If the planet Earth is going to exist, as we know it, everyone should wake up and do their part to help achieve a greater level of sustainability. In my English 101 class we learned about the issue of sustainability. Many different topics were discussed and researched throughout the course of the semester. Overall, I think that the sustainability project has been a learning and enlightening experience for everyone in this class. Many more things can be done next semester, since the groundwork has been laid to continue this project for time to come.
In conclusion, I have to say that there is a solid invisible relationship between impacts of businesses on environments, profitability of sustainable business, and responsibility of business. When one of these ones changes, it will effect to others. When a business adapts efficient and sustainable system, it will reduce negative externalities and increase positive externalities to environment. Once the business adapted efficient business model, it will reduce cost and maximize its profits. Obviously, the sustainable and efficient business model will make the business social more responsible to environments.
Sustainability means “meeting the needs of the present without compromising the ability of future generations to meet their needs” (Heizer & Render, 2014). Sustainability is more than just going green; it also focuses on customers, reputations, employees, and many more important factors. After searching the Internet for a company that claims to use sustainable business practices I found the company Wal-Mart. Even though Wal-Mart has a long way to go, the company does consider the importance of their decisions. The company does focus on energy, waste, their products, and responsible sourcing.
Nonetheless, due to the nature of large size multinational companies, they should undoubtedly be able to overcome those negative perceptions by several methods. First, they may administer their o...
Business sustainability consists of three components, these are: social, economic and environmental. The business has to consider these three components as the business must make a maximized profit (economic) but must not in any way damage the environment in the long term (environmental). The business must also take care of social issue and people and communities as they are support the business.
The word sustainable Development beginning first with sustainable means conserving an ecological balance by avoiding depletion of natural resources and the word development a progress of quality and quantity from lower level to more advance, mature and complex of stage. If we compared these two word together sustainable development makes a complex global meaning which is ambiguity to define with easy terminology, meaning our fundamental commitment of the future balancing and avoiding and trying to eliminate the negative impact using the word sustain to compromise and meet the future generations needs and expectation depend on nature. The ambiguity definition of Sustainable Development it operationally and according to Roger approved definition by UN General Assembly 1983”Meeting the needs of the present without compromising the ability of future generations to meet their own needs’ (Brundtland Commission, 1987; cited Rogers et al, 2008: p. 48)”
The UN Sustainable Development Goals remain an important aspect to improve global sustainability. The above goal forms one of the four goals that specifically relates to environment. This section of the paper identifies specific targets proposed by UN to evaluate the goal. More importantly, this revolves around three aspects: whether the goals are measurable, whether they are currently measurable, and whether they help in meeting the overall goal of sustainable consumption and production.
Social sustainability is “identifying and managing business impact, both positive and negative, on people.” The quality of a company’s relationships and engagement will directly or indirectly “affect what happens to employees, workers in the value chain, customers and local communities” (Wynhoven). This definition focuses on the importance of sustainable relationships. It focuses on the social aspect, which can be good helping to determine what social sustainability looks like. The UN definition makes it clear that it is important to manage the corporation’s impact proactively so that employees, customers, and local communities all benefit from a corporation’s presence. BMW is an excellent example of a corporation that focuses on social sustainability. BMW promotes exchange between refugees, local youth, and BMW employees through a neighborhood project called “Lifetalk” which aims “to give young people a better idea of possible career paths” (BMW). These actions come from the company’s beliefs and goals. BMW states that “taking social and environmental responsibility for everything we do is an integral part of how we perceive ourselves as a company. We are convinced that the lasting economic success of any enterprise these days is based increasingly on acting responsibly and ensuring social acceptance” (BMW). BMW believes that sustainability is an
Humans have become a threat to our own way of life by consuming more resources than needed, blind to the consequences that we may face in the future. As of 2016 the world population is at 7.4 billion and it is estimated to be at 11.2 billion by the year 2100. However 10 billion is the maximum population that can be sustained in terms of food security, only one of the many factors to global sustainability. Due to the fact that human consumption exceeds the amount of resources available, the United Nations “recognizes that eradicating poverty is the greatest global challenge” in A/RES/70/1. Sustainable development is not only required to fulfill the necessities of the present but to guarantee the capability for future generations to satisfy theirs.
In class we discussed what sustainable development meant to us; each group had its own definition. Our group’s definition was that sustainable development is for the long term for future generations, for the basic needs such as food, clothing, shelter, and job. The basic will increase over time and our resources will diminish, which why sustainable development is important. Sustainable development is important for future generations so that they end up with a world better than ours. Sustainable development is achievable if society works together to meet everyone’s basic needs and create a better world.
Environmental sustainability is making decisions and taking actions in the interest of protecting the natural world, preserving the capability of the environment to support human life and ensuring that humans use the environment in a way that does not harm the environment. It also questions how economic development affects our environment vice versa.