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NEW BALANCE Introduction The fact that New Balance is a footwear manufacturing company is a direct resonance of the earliest dreams and ambitions of its founder, William J. Riley, who in 1906 started building arch supports to alleviate pain for people who spent several hours on their feet…
A lot indeed changed about the company’s way of doing things, especially as it became a global company. One of the areas that has seen major changes and continues to be unfinished in terms of expected changes is the area of corporate social responsibility. Today, the company is tasked with shifting line of corporate social responsibility from just doing what is right into an integrated business strategy, and the present case seeks to find means of getting it done in a very resounding manner. Strength and Weaknesses Overall Governance Over the years, the history, values and integrity of New Balance has been the company’s major governance strength. This is because with an early mission to holding on to responsible management practices, the company has not turned its back on such practices to date (Tyssen, 2001). In the midst of this major strength of unshaken organizational culture for integrity and values, the company has failed to pay particular attention to issues of transparency and accountability, and this poses a major weakness to the company’ overall governance. ...
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