In this article, we explain why managing legitimacy is vital for corporations and how business firms can employ strategies to maintain their legitimacy. We then discuss the organizational capacities that each legitimacy strategy implies and point out their inherent tensions. Based on the results of an empirical study, we show how two large corporations have handled these tensions and successfully introduced organizational prerequisites for managing legitimacy. In the final part of this article we elaborate on how participants of the UN Global Compact can use the initiative to strengthen their legitimacy. more[...]
We drive and bike, walk, and even run trying to catch the rhythm of modern life. For most of us, traffic has become an integral part of our everyday routines. We take it for granted and do not consider the road to be a source of constant danger – until suddenly a car accident happens and we are forced to reconsider … and think. Each year nearly 1.24 million people die as a result of road traffic accidents. It means that more than 3,300 are killed on the road every day. more[...]
We drive and bike, walk, and even run trying to catch the rhythm of modern life. For most of us, traffic has become an integral part of our everyday routines. We take it for granted and do not consider the road to be a source of constant danger – until suddenly a car accident happens and we are forced to reconsider … and think. Each year nearly 1.24 million people die as a result of road traffic accidents. It means that more than 3,300 are killed on the road every day. more[...]
From the very beginning, Ricoh has been energized by combining innovative products and services with a sustainable approach to business. The company’s founder, Kiyoshi Ichimura, nurtured a unique pool of thinkers who envisioned a world where business, society, and the planet are interconnected. For Ricoh, which is present in more than 200 countries and employs more than 100,000 people, it is a major challenge to share a consistent theme and to ensure a clear message that is understood everywhere. As a group, we have a regional framework whereby we connect to the collective imagination and creativity of all our people. To support Ricoh’s goals and meet social expectations, accurately and promptly, the Ricoh Group actively introduces internationally established CSR frameworks throughout its supply chain. more[...]
From the very beginning, Ricoh has been energized by combining innovative products and services with a sustainable approach to business. The company’s founder, Kiyoshi Ichimura, nurtured a unique pool of thinkers who envisioned a world where business, society, and the planet are interconnected. For Ricoh, which is present in more than 200 countries and employs more than 100,000 people, it is a major challenge to share a consistent theme and to ensure a clear message that is understood everywhere. As a group, we have a regional framework whereby we connect to the collective imagination and creativity of all our people. To support Ricoh’s goals and meet social expectations, accurately and promptly, the Ricoh Group actively introduces internationally established CSR frameworks throughout its supply chain. more[...]
As social and environmental issues change and become more complex, a new approach is required beyond the existing efforts of governments, NGOs, and corporations to tackle global challenges. In this regard, social enterprises are becoming significant players in bolstering global sustainability and addressing social challenges in innovative and sustainable ways. With the objectives of creating both economic and social value, social enterprises adopt managerial efficiency and market mechanisms in their social operations to offer more customized and efficient solutions that deliver larger and more sustainable impacts. more[...]
Nowadays, there is agreement within companies and the public that neither corruption nor other contraventions of national and international regulations are acceptable. Corruption causes an estimated economic harm of up to $4 trillion per year; the number of unreported cases and not quantifiable social harm through the erosion of trust and the economic systems is much higher. As is publically known, companies such as Wal-Mart, Monsanto, and General Electric were strongly sanctioned by government and society for their corrupt business activities. In times of financial crisis, a sustainable business model is more important than ever to ensure the necessary social acceptance and “license to operate.” more[...]
Bradesco is committed to its stakeholders’ financial education and believes in social transformation through knowledge and awareness fostered by several actions. more[...]
Ayeyarwady Bank commits to making the United Nations Global Compact’s Ten Principles part of its strategies and practices, focusing on fulfilling corporate social responsibility toward the communities it serves. more[...]
Arab African International Bank (AAIB) firmly believes that the road to impactful corporate governance entails values that achieve sustainable businesses as an end goal – AAIB seeks to maintain the balance between economic growth, profitability, and environmental, social, and governance (ESG) concerns. more[...]
Arab African International Bank (AAIB) firmly believes that the road to impactful corporate governance entails values that achieve sustainable businesses as an end goal – AAIB seeks to maintain the balance between economic growth, profitability, and environmental, social, and governance (ESG) concerns. more[...]
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