How do multi-national firms manage the ethical behavior of employees and maintain social responsibility towards organizational stakeholders?
Multi-national firms have strict policies regarding the ethical behavior of their employees. First, they ensure that all ethical guidelines and disciplinary measures are well outlined. They also install whistleblowing mechanism within the organization where employees can report any case of misconduct anonymously. Social responsibility also extends to the company's stakeholders including customers, shareholders, and the community. Companies must engage in environmental protection and conservation measures. It can also participate in philanthropic initiatives within the community setting (Schwartz, 2017).
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Why is a gift exchange in business relationships more common in high-context, power-respecting cultures than in low-context, power-tolerant cultures?
In a high context culture, the concept of gift exchange is not regarded as a bribe. On the contrary, it is visualized as a token of appreciation after receiving favors or as a show of immense gratitude. Therefore, in this high-context power respecting cultures, exchanging gifts plays a significant role in maintaining a mutual relationship between companies. Gift exchange would also be common because the high-context cultures value loyal and meaningful business relations.
Explain the four general approaches a firm can take with regard to social responsibility
The four major approaches to social responsibility include obstructive, defensive, accommodating, and proactive. An obstructive approach aims at defending the economic priority of the company by insisting that social responsibility is not a core objective. Organizations taking a defensive stance are not responsible and make profits a more important aim than acting responsibly. An accommodating position, on the other hand, holds profits and social responsibility in equal regard. Lastly, proactive companies will focus on social responsibility even if it means cutting on their profits.
What activities are undertaken by an organization when it performs a corporate social audit?
A social audit measures how a company meets its social responsibility goals and objectives. It involves a plethora of activities that include measurement, reporting, understanding, and improving how an organization implements its social and ethical activities.
Reference
Schwartz, M. S. (2017). Corporate social responsibility . Routledge.
