Most cultures are having their interest heightened increased and appreciative to both environmentally friendly and ethical concerns globally. Global issues that involve improper treatment of employees, damage to the environment and producing faulty equipment, which can cause a danger and or inconveniences to employees, however, the most relevant to customers. Take, for example, Toyota’s recall on the cars for faulty acceleration (The Center for Auto Safety), The media then reinforce all of these concerns mentioned above.
Some governmental countries have increased their environmental and social regulations and issues with values and regulations established in most circumstances on and by multinational levels. Companies doing this have investors and investment fund managers taken into account the Corporate Social Responsibility (CSR) policy of those companies when making their decision on where to investment their monies. More and more companies are using CSRs as guides for investments to use for and on businesses there are now more consumers using the same guide before buying a company’s goods or services.
The CSR guidelines tend to put companies on alert--to be not only socially sustainable but also be environmentally and economically sustainable as well. CSR necessitates that the accountability of the company balances the full impact on all stakeholders and the environment when making choices. Which would be a requirement for an organization to balance the needs of all stakeholders and the need to make a profit for the company and to reward their shareholders adequately. CSR is supposed to be a company’s formal commitment to all stakeholders, customers, as well as the many others people associated with a business. To perform business in a continuous ethical manner, to contribute economically and to develop while improving employees workforce and their families’ quality of life as well the surrounding communities and the world without borders.
Known as the triple bottom line reporting, is a declaration of information for the financial side of a business there is also the social as well as the environmental information and the impact on society, as well as the local community (MIT SMR). However, to measure CSR will be a performance that will be difficult to maintain and on a continuously development regimen to keep up locally and socially. (David Kiron, 2015)
Researching CSR policy, not a single global template for reporting was located. It seems that each business establishment has developed their a method of reporting. Even company under the same umbrella report differently. Then there are some company’s reports year after year saying the same thing as to how well a company is doing. One example, of such, is Enron, in which they produced a report “Corporate Responsibility Annual Report.” Which everyone knows by now proved to be worthless and damaging to all stakeholders. I believe that the paper is worth more than the Enron’s Annual Report it was written on.
However, there is a growing concern of importance that a number of companies are turning to each other for collaboration. Groups such as suppliers, industry alliances, government agencies, and even competitors are becoming more sustainable aware. Over the years, sustainability has grown complex on a global scale for we are not a world of borders any more we are more globally borderless and growing smaller and the environment more unpredictable every day. Many companies big and small are realizing that they are not alone and to make the right impression and have an enormous impact on a global scale. These companies