This increased openess allows countries to specialise in producing goods which they have a comparitve advantage in (this means they can produce goods at lower unit costs) A multinational Company is a corporation that has its facilities and other assets in at least one country other than its home country. There are many examples of MNC's such as Nike or Primark. MNC's play a massive part in the development of globalisation as they often invest heavily into the country they move into. They will build good quality factories to produce the goods and also introduce effective manufacturing methods. These manufacturing methods can be replicated by other businesses in the countries and improve their ability to manufacture goods.
To achieve these strategic targets, P & G plans to achieve by improving and touching the lives of more consumers, in more parts of the globe. The company will also influence its core strengths in leadership to generate competitive advantages that are vital to winning in the consumer products industry. The driving forces of: brand-building, innovation, customer knowledge, and go-to-market capabilities will permit P & G to accomplish their targets. The company is motivating productivity in all aspects of the business through an arrangement of digitization, integration, and simplification. The company is also strengthening the quality, extent, and depth of leadership on all levels of the organization to make a more real-time, demand-driven and future-focused business (Procter & Gamble, 2011).
A focus on those in need is something that helps a company’s reputation for years to come, boosting profits in both the poorest neighborhoods and the wealthiest. Company Q benefits from having multiple active locations in place in varying income locations. Should the focus be on meeting the economic, legal, ethical, and philanthropic requirements of social responsibility, the company stands to be a responsible, reputable, and very profitable
From Ethical system perspective, making and sustaining a strong ethical culture is key to creating a organization which encourages people to make good ethical decisions and behaving ethical every day. There are many factors, which lead people to take ethical shortcuts. But when factors increases or made to exploit ethical standards, ethical culture in whole corporate tends to failure of ethical standards at all level. Our perception of whether we do “what’s right” depends on things such as situation, time frame or (Oldhand, 2016)expectation of others. Ethics are like rules and when it is exploited for any reason which is as judged by us is right, can also be wrong to the others observing.
EST1- TASK 1 A. Evaluation After reviewing and evaluating the information regarding Company Q and their current attitude towards social responsibility, I find that Company Q has not made the commitment to operating socially responsible. Social responsibility means that a company operates in a manner that accounts for the social and environmental impact created by the business. It also means that the company operates in a way that is not solely focus on profits but it is actively in compliance with ethical standards. The functions of being socially responsible also means that the company has goals of embracing the social responsibility and encourages positive impact throughout the environment, its employees, its consumers and its communities.
Having at their side another company advertising and selling their products will provide the opportunity to expand their market. In addition, this decision will provide clear information to the shareholders of the company’s intentions to grow and of its economic stability within the market. On other hand, merging with another company will definitely attract more customers and will increase their sales. These strategies will help in the company’s position before the globalization and will minimize the risks when important financial decisions are
This will improve and impact the businesses activities as businesses will have more skilled and efficient workers than can maybe help with more activities and aims to help them achieve their purpose. Providing organisations to support other businesses is a way to support and increase recognition of the businesses. Most businesses having follow-on businesses or businesses they may have been in business together as they both have the same aim or support the same kind of thing. The government do a lot to support businesses for example if businesses want to start up, or a very well-known and profitable business wants to move around and open up a new store; the government will lend out a grant to pay for the store. However, the government generally hand out grants to businesses that
This is accomplished through more effective products, processes, services, technologies, or ideas that are readily available to markets, governments and society. Roberts (1988), defines innovation as the successful implementations and exploitation of a new idea or invention . Innovation is the main idea in shaping corporate life and helping companies to adopt various strategic options. It helps to reduce total cost of production, increase income avenues, and maintain efficient operating systems. Innovative businesses also benefit the economy: delivering added value; high quality jobs; successful business; better products and services for customers; and new, more environmentally friendly, processes.
A business that wants to be profitable will follow a standard code of conduct for how is treats others and rectifies any wrong doing. Many believe that a business should not exist only to make a profit but that a business has a social responsibility to society. Social responsibility is a business’ obligation to maximize its positive impact and minimize its negative impact on society (Ferrell, Hirt, & Ferrell, 2009, 38). A profitable and sustaining business relationship can not be built without a solid foundation of trust, ethical behavior and social responsibility, and
Ethical standards are the code of conduct required by the organization for workers to follow. The relationship between organizational culture and ethics is that the organizational culture guides workers when faced with ethical problems. If the organization culture counters what they are required to do ethically, workers may put the organization in jeopardy by not act ethically. When a worker is faced with a decision that others within the organization think as appropriate, though it is unethical, the worker may follow what is acceptable as per the culture. It is the relationship between organizational culture and ethics that can get businesses into significant trouble in the long term.