Part 1: Current Events
Article: Coca-Cola Company (n.d) Governance and Ethics. Retrieved 6 April, 2013 from http://www.coca-colacompany.com/our-company/governance-ethics/governance-ethics
Coca-Cola Company is a multinational corporation whose core business involves the manufacture, marketing and sale of non-alcoholic beverages. The Company has directed significant effort towards managing ethics and compliance within its organizational boundaries. A publication on the Company’s Website outlines its ethics and compliance practices. Although there is evidence of nearly all of the major approaches to the management of ethics and compliance at Coca-Cola, the company has placed its focus on the compliance-based approach (Coca-Cola, n.d). This approach stresses on the importance of promoting shared organizational values which, to Coca-Cola, go beyond its Code of Business Conduct. Coca-Cola does this by updating its code of ethics from time to time, continuously training and encouraging employees to commit themselves to compliance.
Managers at Coca-Cola play a major role in promoting the value-based approach and the entire initiatives regarding ethics and compliance. The company has a cross-functional senior management team that overseas all aspects of ethics and compliance including programs, violations and discipline (Coca-Cola, n.d). Although this approach significantly aids the company’s initiative, it does not represent the best practices in the area. Coca-Cola should consider the value-based approach as its primary approach, and subordinate the other approaches to this in order to achieve a sustainable culture of ethics (Trevino et al, 1999).
Coca-Cola Company (n.d) Governance and Ethics. Retrieved 6 April, 2013 from http://www.coca-colacompany.com/our-company/governance-ethics/governance-ethics
Trevino, K. L., Weaver, G. R., Gibson, G. D. & Barbara, L. T. (1999) Managing Ethics and Legal Compliance: What Works and What Hurts. California Management Review, 41(2): 131-151
Part 2: Managing a Diverse Workforce
The limitation on women’s inclusion in the public sphere in the wider Middle East presents serious challenges to managers in this era of globalization. The case study Managing a Diverse Workforce exemplifies such challenges. Managing diversity in the workplace requires a very informed approach. The claim would have to be verified first. A key aspect of resolving the problem in the case study would involve the Secure Banks HR. In order to best address the issue whereby senior executives of Big Oil Company do not want Julie to work on their account if found to be valid, both parties should be considered. As a global strategy, effective companies are responsive to the culture of the market, the societal requirements and act locally (Cantle, 2012). As the manager for Secure Bank, the engagement of the HR department would be critical to address the individual sensitivities with regard to diversity. Since a global company should be on the frontline of reconciling its corporate culture to accommodate the diversity of different markets, an urgent strategy would be the one that responds to the demands of Big Oil’s senior personnel and also facilitates the support of Julie. In the latter case, a meeting that includes the HR, Julie and Secure Banks executive would be effective.
Cantle, T. (2012) Inter-culturalism: For the Era of Globalization, Cohesion and Diversity. Political Insight, 3 38-41. Doi: 10.1111/j.2041-9066.2012.00124.x
Part 3: Current Event: Corporate Responsibility
Article: Greater Cincinnati Wal-Mart Stores Go Green with Solar Energy (Newberry, March 5, 2013). Blog Post. Retrieved from http://www.bizjournals.com/cincinnati/blog/2013/03/greater-cincinnati-walmart-stores-go.html
Wal-Mart has received much publicity in the recent past for its green initiatives. The company operates retail stores across the globe about 10, 773 retail units in 27 countries as of February 2013 (Yahoo Finance, 2013). Its stores offer a wide variety of products and services. One of the most recent of its greening initiatives has been the rooftop installations of solar panels on 12 of its Ohio state stores (Newberry, 2013). According to its Website, Wal-Mart’s inspirational sustainability goals include: to be supplied 100% by renewable energy, to create zero waste and to sell products that sustain people and the environment (Wal-Mart, n.d). The recent initiative described above is clearly a strategy for achieving the first goal: to be supplied 100% by renewable energy. Like many other businesses, these goals only represent the part that Wal-Mart wants the public to know. There are certainly other underlying goals which are not publicly stated that the retailer is pursuing by undertaking green initiatives. From the profit perspective, Wal-Mart’s attempts are driven by a combination of reasons. The consumer environment is increasingly becoming environment-sensitive, and companies like Wal-Mart are putting their effort towards gaining a strategic competitive advantage. The company also intends to benefit from short-term accruals of profitability through improved public image and reduced costs.
Newberry, J. (2013) Greater Cincinnati Wal-Mart Stores Go Green with Solar Energy. Cincybizblog. Retrieved from http://www.bizjournals.com/cincinnati/blog/2013/03/greater-cincinnati-walmart-stores-go.html
Wal-Mart (n.d) Environmental Sustainability. Global Responsibility. Retrieved from http://corporate.walmart.com/global-responsibility/environment-sustainability
Yahoo Finance. (2013) Wal-Mart Stores Inc. Retrieved 6 April 2013 from http://finance.yahoo.com/q/pr?s=WMT
Part 4: Ethical Culture - Current Event
Article: SEC Global Code of Conduct: Preface. (Company Publication) Retrieved from http://www.samsung.com/us/aboutsamsung/ir/corporategovernance/globalcodeofconduct/IR_GlobalPrinciple0.html
Samsung Electronics is a multinational corporation that deals in the consumer electronics industry at the global level. Its approach to global business ethics and social responsibility is governed by the sharing and pursuit of common values and a set of factors of a leading company stipulated in its code of conduct. It also engages in a variety of activities aimed at contributing to the societies where it operates in a quest to share in the struggle with issues such as the polarization of society, poverty and famine (Samsung, n.d). Samsung has consistently promoted various environmental programs in accordance with its Eco-Management initiative. The company has a comprehensively documented global code of conduct. The code stipulates that Samsung shares and pursues Samsung values of people, excellence, change, integrity and co-prosperity. It serves as a guiding standard for everyone within the organization. With respect to co-prosperity, Samsung aims at sharing its achievements with the global societies where it operates. Its culture also addresses many other societal issues including nepotism. It promotes openness in employment with over 220 000 employees, with an emphasis on competence in a bid to achieve an innovative competitive advantage (Samsung, 2012).
Samsung (2012) 2012 Sustainability Report. Retrieved from: http://www.samsung.com/us/aboutsamsung/sustainability/sustainabilityreports/download/2012/2012_sustainability_rpt.pdf
Samsung (n.d) SEC Global Code of Conduct: Preface. Retrieved from http://www.samsung.com/us/aboutsamsung/ir/corporategovernance/globalcodeofconduct/IR_GlobalPrinciple0.html