Carroll, A 2004, Managing ethically with global stakeholders: A present and future challenge, Academy of Management Executive, Springer Netherlands, 19(2), 114-120.
Introduction
Management has so far evolved to accommodate ethics in business practice, and corporate social management. This has been at a local level, in companies’ home economies and the local communities. In the advent of globalization, there has been the need for the observation of ethics and corporate social responsibility at this level.
Indeed, the interaction of business and free flow of capital at an international level has led to the rise of multinational companies who have wide influence of countries and beating countries GDPs (Carroll 2004).
The practices in home countries need to be replicated in host countries viewing the well being of various stakeholder of the business.
Annotations
Content
Carroll (2004) gives a descriptive opinion and findings and deduction from various sources in the need for ethical management, in a global level. He notes the presence and significance of stakeholders such as employees, government, society and the natural environment.
First, he illustrates the rise of multinational companies and their significant role in global economics. He cites the constricted application and the lack of adaptation of managers in the ethics at a global level. He says that many companies apply the ethics in their home countries at a global level.
He highlights the work of George Erderle and Integrative Social Contracts Theory by Tom Donaldson and Thomas Dunfee, to show the importance of versatility in the application of ethical standards at a global perspective.
He notes the importance of ethics as the law is not able to reach all avenues of business practice. He finally notes the importance of multinational companies to observe standards set by international bodies observing ethics for various take holders.
Purpose
The article serves to give guidance on the rather inadequately explored area of global ethical management. The author intends to provide guidelines on various the practice of ethical management by drawing for the findings of various other sources.
Usefulness
In research, the article is an invaluable resource as it provides insight and also provokes thought on this unresearched yet very vital topic. He highlights the shortcomings of present ethical management.
The author also provides concrete guidelines on the practical drawing form credible sources, and using this information to come to viable and relevant methodologies of practice.
Reliability
The information there in is indeed reliable; the author presents viable and workable model for the practice of ethics and corporate social responsibility at a global level. He cites various sources and past research on the subject.
Currency and Ease of Use
The author presents ideas and a working framework that is applicable at a global activity. It remains time relevant with as it deals with an emergent issues and highlights global trends in the global economy.
The author uses easy language that is easy to comprehend even by people not conversant with the subject. He also mentions that organizations should pay attention to their followers as they play crucial roles in impacting change.
Conclusion
Globalization is fast taking root and has entrenched global affairs to a great extent. Multinationals companies need to observe ethics at both a local an international level by adopting individual corporate social responsibilities to their host countries.
This will not only increase efficiency but assure the effectiveness of such ventures. With the increased competitiveness among enterprises, there is the need for change in order to satisfy a wider market.
Reference List
Carroll, A 2004, Managing ethically with global stakeholders: A present and future challenge, Academy of Management Executive, Springer Netherlands, 19(2), 114-120.