Question

1: What is meant by the term "globally responsible corporate citizen"?

2: Describe three (3) ways managers can develop a "code of ethics." Provide examples in your response.

3: Multi-national enterprises (MNEs) have been criticised for having a "cash-cow" perspective of their host country's resources. Explain why this may be the case and provide examples in your response.

Answer 1

1. Corporate citizen are those Corporate bodies that involves in the social responsibility of business towards the society in an extent to meet legal, ethical, and economic responsibilities. This is important for the business as well as for the society in order to maintain the sustainable development.

Hence, a corporate citizenship is a recognition that the business comply with the legal, ethical, and economic responsibilities towards the society.

The corporate citizenship main motto is to achieve the profitability with the help of production of high living standards and good quality of life in the communities around the business.

The term “globally responsible corporate citizen” means that the corporate citizen across the world are responsible for sustainable goals too instead of only wealth creation. They are responsible for the good governance by complying with the code of ethics. They should take care of positive societal changes happens because of growing business. They are responsible for the social developments.