Speaking about the further development of corporate social responsibility of LG electronics Company, it is possible to make the following recommendations:
1. To participate in activities that contribute to strengthening the position in the countries in which the company operates, and not to break the rules set by local laws on environmental protection, public health, safety and labor.
2. To follow the highest standards of information dissemination, reporting and auditing, that is to provide timely, regular, reliable and relevant information about their activities, structure, financial situation and performance. This information should include the social, ethical and environmental policy of the enterprise, as well as other codes of conduct practiced by the company.
3. The company should avoid discrimination in all its forms and respect the right of their employees to organize trade unions and other associations representing their interests, to participate in constructive negotiations, to observe standards of employment and production relations not less favorable to employees than those that have adopted similar employers in this country.
In conclusion it is necessary to say that implementation of the principles of corporate social responsibility means to ensure maximum transparency of the business and establish a better rapport with the environment, thereby increasing the quality of corporate governance. On the example of LG we saw that social responsibility means a lot for the company’s development and efficiency. LG pays considerable attention to programs and projects of social orientation, namely the support of environmental protection, creation of favorable conditions, the development and training, community development, philanthropy and sponsorship, support sport and healthy lifestyles. This approach makes the company successful and competitive.
Cavett-Goodwin, David, 2007, Making the Case for Corporate Social Responsibility. Cultural Shifts.
Fombrun, C., 2000, “The value to be found in corporate reputation”, Financial Times, December 4.
Grayson, D. and Hodges, A., 2004, Corporate Social Opportunity! Seven Steps to Make Corporate Social Responsibility Work for your Business.
International Business Report, 2008, Corporate Social Responsibility: a necessity not a choice. Grant Thornton.
Jastram, Sarah, 2007, “The Link Between Corporate Social Responsibility and Strategic Management”, CIS Papers No.17. Centre of International Studies, Hamburg.
Kotler P., 2004, Corporate Social Responsibility: Doing the Most Good for Your Company and Your Cause. Wiley
Manne, Henry G., 2006, “Milton Friedman Was Right”, The Wall Street Journal, 24 November.
Sanford C., The Responsible Business: Reimagining Sustainability and Success.
Visser, W., D. Matten, M. Pohl, N. Tolhurst, 2008, The A to Z of Corporate Social Responsibility. Wiley.
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