In recent decades, there has been growing trend of offshore expansion by large companies, thanks to globalization. Although multinational corporations create jobs for local people, their responsibility towards local communities should be at the highest level.
It is true that responsible corporate behavior contributes to broad-based benefits for the countries in which the companies are active. First, foreign companies should be responsible towards the environment of the region. For example, if these companies take steps to dispose of waste properly, local people can enjoy new products without any concern for the environment. Second, multinational companies should be more active in charitable activities because that would give them an opportunity to save more lives overseas. In fact, many regions in which these companies operate do not have access to resources to deal with problems like hunger and poverty.
Another compelling reason is that foreign companies can substantially benefit from being socially responsible. Companies, especially in the manufacturing and mining industries, actively protecting the environment, can ensure their sustainable long-term growth. In fact, the media has revealed many instances of companies being taken away social license due to the imprudence towards the environment. In addition, multinational corporations should be very conscious of their track records when it comes to local responsibility as these are directly tied to brand names. If brand names are properly maintained and enhanced, sales and profits will be poised to increase as companies will be receiving more support from both local customers and government.
In conclusion, the bar for corporate responsibilities towards local communities should always be high. This benefits not only the countries in which companies operate but the companies themselves.
In recent decades, there has been growing trend of offshore expansion by large
companies
, thanks to globalization. Although multinational corporations create jobs for
local
people
, their responsibility towards
local
communities should be at the highest level.
It is true that responsible corporate behavior contributes to broad-based benefits for the countries in which the
companies
are active.
First
, foreign
companies
should be responsible towards the
environment
of the region.
For example
, if these
companies
take steps to dispose of waste
properly
,
local
people
can enjoy new products without any concern for the
environment
. Second, multinational
companies
should be more active in charitable activities
because
that would give them an opportunity to save more
lives
overseas. In fact,
many
regions in which these
companies
operate do not have access to resources to deal with problems like hunger and poverty.
Another compelling reason is that foreign
companies
can
substantially
benefit from being
socially
responsible.
Companies
,
especially
in the manufacturing and mining industries,
actively
protecting the
environment
, can ensure their sustainable long-term growth. In fact, the media has revealed
many
instances of
companies
being taken
away social license due to the imprudence towards the
environment
.
In addition
, multinational corporations should be
very
conscious of their
track
records when it
comes
to
local
responsibility as these are
directly
tied to brand names. If brand names are
properly
maintained and enhanced, sales and profits will
be poised
to increase as
companies
will be receiving more support from both
local
customers and
government
.
In conclusion
, the bar for corporate responsibilities towards
local
communities should always be high. This benefits not
only
the countries in which
companies
operate
but
the
companies
themselves.