BASF is headquartered in Ludwigshafen, Germany3. II. Aspect of BASF social performance: Verbund BASF always prided itself with its “Verbund” philosophy which meant total integration strategy which provided the company a competitive edge by improving its efficiency by restructuring4. One of the aspect of Verbund for instance is how they used byproducts of their production which could have been discarded as waste as an input for other production. Concretely is how BASF ingeniously capture heat energy into its plants and convert it into power to drive other machines in their plants5. Verbund has also allowed BASF to extend itself to a wide array of product lines with a well diversified revenue portfolio that brings in stability in the company while catering to a broader customer base6. But this concept of Verbund or integration which is the core of BASF corporate philosophy might have been taken into excess because it has been sued 35 class actions for price fixing in violation of the Anti-trust Law the United States. In the same vein, it was also sued in the United Kingdom for infringement of Fair Trade Policy (UK’s equivalent for Antitrust) for unethically “integrating” with other companies to the point of collusion that retards the mechanism of the market. III. Details of the case against BASF It is quite bothersome for a huge company such as BASF which is considered to be the largest chemical company in the world has 35 class action suit filed against it in the United States alone7. It indicates that there is something wrong with the company’s business practices. If it was only several cases, it could have been dismissed as a nuisance, but with 35 class action suits, the cases are worth to look at because it appears to be a business trend which is not exactly ideal. The cases hurled against BASF are serious that ranged from unfair company practice such as violation on anti-trust laws on price fixing, to exposing its employees to contaminated chemicals in the production of its fertilizers. Both allegations are serious offenses for it boils down to unfair business practice and total disregard for its employees’ safety and well-being. The lawsuit begun in 2004 when BASF together with Huntsman, Bayer, Dow and LyondellBasell were accused of price fixing. They were accused of price fixing “propylene oxide (PO)-based polyether polyols; methyl di-p-phenylene isocyanate (MDI); and toluene di-isocyanate (TDI) that were purchased from 1 January 1999 through 31 December 20048”. All of the parties that were accused opted to settle out of court with BASF offering a settlement amount of $51 million. It denied guilt to price fixing and justified that it was settling to save itself with the cost of a dragged litigation and the distraction of court hearing that will bother the company. This may have been approved by the Department of Justice in December of 2011 but still, the company is still facing a separate price fixing lawsuit from its isocyanates customers9. Apparently, BASF has also a Fair Trading (Antitrust version in United Kingdom) case in UK which indicates that their alleged price fixing practices are not isolated in the US10. In Brazil, BASF together with Shell also faced class lawsuits and was in fact convicted to pay damages to its former employees. The class lawsuit was about contaminating its “
Communication in Business The Case of BASF Name Class Professor University Date I. BASF: Company overview and performance BASF is the largest chemical company in the world. It has business interests that include “chemicals, plastics, functional solutions, performance products, agricultural solutions, crude oil, and natural gas1”…
………….. ……………. Dear Executive of the Local Network Submission to Local Network Introduction Hyundai Motor Company is the world’s fourth largest automobile manufacturer. According to the previous ranking Environmental Protection Agency of top automobile manufacturers in carbon oxide emissions and fuel efficiency, Hyundai scored highly since we have developed green cars that promote environmental sustainability.1 Hyundai has diversified its services in other areas like infrastructure, healthcare, transportation and education.2 Hyundai Motors has been fulfilling its corporate social responsibility and constantly engages in activities that improve the welfare of the public.
As a company, we recognize the need to accord respect and understand the diverse cultures and individuals in the society. The sustainability in the society will lead to indispensability, which is a supporting ideology in the community. As a company, sustainability is a key value of Corporate Social Responsibility (CSR) thus supporting our aspiration to work with the local community in development of funds for sustenance1.
Simply put as “save money-live better” Wal-Mart Corporation expects its consumers around the world to save money and live better lives. Wal-Mart Corporation’s mantra of “save money, live better” has made the corporation attractive and favorite in the eyes of some consumers from different countries.
The pros and cons of taking this step have been discussed in the project. A SWOT analysis has been provided to understand feasibility of the situation. The presence of a large population along with a large pool of technical talent has acted as an attractive force for the company.
Globalization has brought many changes in the political, social, economical and cultural lives of people. Business sector is one area which witnessed revolutionary changes as a result of globalization.
On one end of the debate, there is a group of supporters who subscribe to the highly Anglo-Saxon ideologies of economics, wherein greater significance is given to the economic / financial aspect of business with little or no regard to the social issues (Godfrey and Hatch, 2007; Nelson, 2004).
Its global activities are subject to a wide range of national and international regulations. Experience and efficacy in dealing with environmental issues place BMW in a good position to provide recommendation to the Local Network to achieve compliance with two principles of UN Global Compact.
This thrust towards privatization seems to be relevant in the sense that time and again various private and public studies and reports have stressed upon the inefficiency, corruption and the lack of accountability rampant in the state run facilities. The disturbing question that emerges in this context is that should the sensitive and socially vital institutions like the prisons be exposed to the gross blunt of privatization Should the private corporations be allowed to handle the socially crucial institutions like prisons Pragmatically speaking, private corporations are certainly not the qualified and valid entities to be trusted with the management and administration of law and order relat
This thrust towards privatization seems to be relevant in the sense that time and again various private and public studies and reports have stressed upon the inefficiency, corruption and the lack of accountability rampant in the state run