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CORPORATE SOCIAL RESPONSIBILITY POLICY OF MNCs - Essay Example
Pages 12 (3012 words)
Business makes a huge contribution to economic and social development. Companies are becoming more eager to encourage environmental and social progress by remaining true to their own business principles. Whether these are formal or informal, they play an important role in bridging cultural diversity within companies and in enhancing awareness of societal values and concerns…
Principles that are freely adopted without external constraint enable companies to find solutions and make improvements that regulations alone could not achieve. Recommendations require the commitment of executives running the business and the development of expertise and internal processes. Above all, responsible business conduct requires a sustained effort by everybody in the company. A key element of a company's organizational development is promoting the importance of responsible business conduct and ensuring that new managers are well versed in this area.
If contemporary business trends were made the yardstick, it would not be an exaggeration to state that business communities have become more homogenous. Multi National Corporations (MNCs) serve as perfect instances of this shift. MNCs are investing in major parts of the world, and the boundaries between nations are melting. The channels of communication have become open, and globalization is the norm. However, amidst this entire happening, there are serious concerns that overshadow the race towards more finances, profit and successes. Theses concerns are oriented toward a 'greater common good,' or in a more formal jargon, 'Corporate Social Responsibility'. ...
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