Book Description
Essay from the year 2019 in the subject Business economics - Business Ethics, Corporate Ethics, grade: 66/100, University of Leeds (School of Earth and Environment), course: Issues and Cases in CSR, language: English, abstract: This essay analyses the success of voluntary policies implemented by multinational companies operating in the manufacturing sector that aim to tackle issues and challenges arising out of poor labour practices and human rights infringements. The first section focuses on the success of policies aiming to improve working conditions in the fashion supply chain while the second section examines the performance of Coca-Cola’s and Nestlé’s human rights policies and their effects on local communities. Both sections conclude with the realization, that the success of voluntary policies is often hampered by their inability to tackle issues holistically, mainly caused by the lack of company commitment in favour of profit maximization. The booming world economy and the explosion in economic prosperity and wealth in some countries were accompanied by negative impacts on the environment and society in others. Weak law enforcement and corruption hinder governments to sufficiently tackle the issues arising out of global growth. With their gain of influence in the global sphere, transnational corporations and large businesses are increasingly challenged to adopt adequate corporate governance mechanisms, particularly where government authorities have forsaken. Guidelines such as the ISO26000 for the Social Responsibility of Businesses and Organizations support the implementation of policies for best practice and offer guidance on issues in the context of organizational governance, human rights, labour practices, the environment, fair operating practices, consumer issues and community involvement and development.
