Global Business Essay Example | Topics and Well Written Essays - 3000 words

Global Business - Essay ExampleIntroduction In the twenty dollar bill first century, the companies ar experiencing unprecedented globular competition and economic uncertainties along with challenges of managing their social responsibilities. As the companies expand their business globally they are facing a number of challenges regarding their human resources and several other issues regarding the conduct of their businesses. Human resource management is a key issue for consolidating the business globally as tumesce as maintains a healthy design of the company (Palthe, n.d.) According to Morrison, integration of the nations and the citizen towards a global market opens up opportunities as well as risks for enormous corporations (Mennen, 2010, p.2). Globalization has also led to a change in the paradigm of how business is conducted globally. The organizations boast to take into account various other issues apart from their sales and production to sustain their profitability. The companys image, participation in the stock exchange and taking care of the social responsibilities find high priority in the companys agendas. The three principles of sustainable development of an organization suggest profit, people, and planet. Management of this is a crucial issue for any company as competent management of all three contributes measurably to the profits for any company. Good social behavior along with ethical corporate has made many of the global companies flourish. 77% of the executives from various corporate have confirmed that undertaking corporate social responsibility programs and good governance practices have benefitted their companies in terms of profit. corporeal Social Responsibility programs of any company have different dimensions. The company has to address the environmental issues like their carbon footprint and maintenance of local environment, have proper corporate ethics regarding employees, customers and other stakeholders and product safety. CSR as a crucial aspect of corporate management have gained importance in the late years. Companies that have a good reputation in this regard have outperformed their counterparts that are less reputed. For a company recognitions come in various slipway like the Most Admired Company List or the Corporate Citizenship List as well as a rise in profit. The image of the company and the trust it enjoys from the customer helps it develop business for a long period of time. Companies are eager to get enrolled in the Dow Jones Environmental and Social Criteria. completely this is evident of the increasing consciousness among the organizations to reshape their businesses to the new trends and practices of the global businesses. The perception about the responsibility of the business towards the society in terms of human rights, crusade standards, environmental concern, and attitude towards corruption has changed over the years due to globalization. This has resulted in the companies addr essing the issues and challenges faced by the global businesses. Research is being conducted everywhere and new models of businesses are being developed and incorporated by the companies (Palthe, n.d.) We shall try to investigate the role of the stock exchanges in the businesses of a company and also the issues regarding the responsible management practices especially the principles laid down by the United Nations Global Compact on responsible manag