global corporate citizenship
DESCRIPTION
Good GovernanceTRANSCRIPT
GLOBAL CORPORATE CITIZENSHIP
>Process of identifying, analyzing, and responding to the company’s social, political and economic responsibilities as defined through law and public policy, stakeholder expectations, and voluntary acts flowing from corporate values and business strategies.
>Means putting a commitment to social and environmental responsibility into practice.
1. ETHICAL BUSINESS BEHAVIOR> Engages in fair and honest business practices
in its relationship with stakeholders.> Sets high standards of behavior for all
employees.> Exercises ethical oversight of the executive
and board levels.
Kimberly Davenport 8 Principles of Corporate Citizenship
2. Stakeholder CommitmentStrives to manage the company for
the benefit of all stakeholders.Initiates and engages in genuine
dialogue with stakeholders.Values and implements dialogue.
3. COMMUNITY
• Invests in the communities in which corporation operates.
• Fosters a reciprocal relationship between the corporation and community.
4. Consumers
• Respects the rights of consumers.• Offers quality products and
services.• Provides information that is
truthful and useful.
5. EMPLOYEES
• Provides a family-friendly work environment.
• Engages in responsible human resource management.
• Provides an equitable reward and wage system for employees.
• Engages in open and flexible communication with employees.
• Invests in employee development.
6. INVESTORS
• Strives for a competitive return on investment.
7. SUPPLIERS . Engages in fair trading
practices with suppliers.
8. ENVIRONMENTAL COMMITMENT
• Demonstrates a commitment to the environment.
• Demonstrates a commitment to sustainable development.
Naomi A. Gardberg Charles J. Fombrum
• Create intangible assets that lead to improved legitimacy, reputation, and competitive advantage.
• Particularly true of global firms where citizenship activities overcome nationalistic barriers and build local advantage.
CITIZENSHIP PROFILE
• Public expectations vary on factors such as environmental risk, philanthropy and worker rights.
• Companies that choose the right configuration of citizenship activities to match public expectations will reap strategic advantages.
Concept is Consistent with the following themes• Managers and companies have responsibilities
to all their stakeholders.• Corporate citizenship (CC) involves more than
just meeting legal requirements.• CC requires that a company focus on, and
respond to, stakeholder expectations and undertake those voluntary acts that are consistent with its values and business mission.
• CC involves both what the corporation does and the processes and structures through which it engages stakeholders and makes decisions.
GODBLESSS ♥♥♥Rodriguez, Lysel s. BM401E