As the international trading is becoming more common, global companies are facing some challenges such as building trust in the globalization of business. The keys to building trust between global customers and global companies are Corporate Social Responsibility (CSR) and Corporate Sustainability (CS). CSR and CS exist for "all the members of society" (Wilson, 2003) not only for stakeholders. Therefore, it is vital to consider the management of CSR/CS strategies for corporate sustainability globally.
In Japan, although many companies promote CSR/CS in their way, it depends on the companies what they do for CSR/CS. One of the reasons for this is that the definition of CSR/CS is swinging and the standards of CSR/CS depends on the companies. …show more content…
They increased organic revenue 4% and the basic net income is US$7,351 million in 2015 (Coca-Cola, 2016).
Intel ranked 1st in the top-20 worldwide semiconductor sales ranking for 2015 (IC insights, 2015). Their net income for 2015 is US$11,420 million. (Intel, 2015).
These companies are good examples that the companies which manage CSR/CS policies can be world 's leading companies at the same time. And these companies are what global companies should be.
What If a company failed to comply with CSR? Probably the company would lose its social credibility, get a bad reputation, decrease current or future employees, and would lead to the stock price decline, suspension of business, compensation for the damage. In the worst case scenario, the company would go bankrupt because one of the concepts of CSR is complying with the local laws. For example, from April 2015 to March 2016, 190 Japanese companies went bankruptcies due to compliance violation including tax evasion, financial window-dressing, frauds, embezzlement, unpaid wages, food fraud and mislabeled foods (Tokyo Shoko Research, 2016), and the total amount of liabilities due to business failures is approximately 2.1 trillion yen (US$20.2 billion) and the compliance violation accounted for approximately 13.3% (Tokyo Shoko Research, n.d.). For this reason, to manage CSR is bare essentials for continuing business activities as global
In Japan, although many companies promote CSR/CS in their way, it depends on the companies what they do for CSR/CS. One of the reasons for this is that the definition of CSR/CS is swinging and the standards of CSR/CS depends on the companies. …show more content…
They increased organic revenue 4% and the basic net income is US$7,351 million in 2015 (Coca-Cola, 2016).
Intel ranked 1st in the top-20 worldwide semiconductor sales ranking for 2015 (IC insights, 2015). Their net income for 2015 is US$11,420 million. (Intel, 2015).
These companies are good examples that the companies which manage CSR/CS policies can be world 's leading companies at the same time. And these companies are what global companies should be.
What If a company failed to comply with CSR? Probably the company would lose its social credibility, get a bad reputation, decrease current or future employees, and would lead to the stock price decline, suspension of business, compensation for the damage. In the worst case scenario, the company would go bankrupt because one of the concepts of CSR is complying with the local laws. For example, from April 2015 to March 2016, 190 Japanese companies went bankruptcies due to compliance violation including tax evasion, financial window-dressing, frauds, embezzlement, unpaid wages, food fraud and mislabeled foods (Tokyo Shoko Research, 2016), and the total amount of liabilities due to business failures is approximately 2.1 trillion yen (US$20.2 billion) and the compliance violation accounted for approximately 13.3% (Tokyo Shoko Research, n.d.). For this reason, to manage CSR is bare essentials for continuing business activities as global