07 MGT 353 Chap 7

Responsibilities to all their stakeholders corporate

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Unformatted text preview: r stakeholders Corporate citizenship or responsibility involves more than just meeting legal requirements 7-6 Citizenship Profile Research by Gardberg and Fombrun argues that corporate citizenship activities should be viewed as strategic investments (like research and development) 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 7-7 Citizenship Profile Important for global firms to choose a Citizenship Profile which matches the local setting 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 7-8 Management Systems for Global Corporate Citizenship Global corporate citizenship is more than espoused values; it requires action In order to become leading citizens of the world, companies must establish management processes and structures to carry out their citizen commitments Could be assigned to committee of the board, senior executive committee, single executive/group of executives, or departments of corporate citizenship 7-9 International Organizations that Support Corporate Citizenship Activities for Businesses BSR (formerly Business for Social Responsibility), Canadian Business for Social Responsibility (CBSR) Corporate Social Respon...
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This document was uploaded on 03/05/2014.

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