Submission to Local Network

In their operations, businesses should enact and support the core values proposed by the UN Global Compact. In line with this, we are writing to propose the various strategies which firms should incorporate in their operation in relation to anticorruption and environmental responsibility. According to Global Compact, firms should comply with the Eighth Principle which stipulates that business organizations should implement various initiatives which are geared towards promoting environmental responsibility.Advertising We will write a custom essay sample on Submission to Local Network specifically for you for only $16.05 $11/page Learn More According to the Rio Declaration, businesses are charged with the responsibility of ensuring that their operations do not affect the environment in which they operate negatively. This arises from the fact that the legitimacy of a firms operation is dependent on its capacity to meet the society’s needs (The Global Compact 2008, 3). In our operation, Hewlett Packard has incorporated the concept of environmental responsibility within its product marketing. This has enabled the firm to comply with the Global Compact requirements. Therefore, we agree to this recommendation due to realization of the fact that environmental responsibility is a key element in the long-term survival of a business entity (Fernando 2009, 44). In addition to environmental responsibility, business enterprises should also ensure that there is a high degree of transparency in their operation (Mason 2005, 45). This is in line with Global Compact principle 10 which stipulates that the private sector has a significant role to play in ensuring that corruption is eliminated. Principle 10 stipulates that business enterprises should be concerned at ensuring that all forms of corruption such as extortion and bribery are eliminated. In order to ensure increased compliance to the above principles, we recommend the following based o n our experiences. Firms should undertake a comprehensive research in developing products In our operation, HP has had a significant impact on the environment via its products. The core objective is to improve the livelihood of its customers and the society in general. This is attained via integration of environmental consideration within the firm’s business strategy. The resultant effect is that the firm’s products are of high value. Member of the Local Network should incorporate the Design-for-Environment (DfE) strategy in their operation. This will ensure that all the environmental characteristics are optimized in the production process. For the DfE to be effective, firm’s management teams should ensure that there is a continuous evaluation of the programme to ensure compliance. Evaluation can be attained by formulating sustainability principles which should be evaluated against global standards.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Firms should formulate environmental responsibility targets and also integrate Environmental Impact Assessment (EIA) tools. The EIA tools will ensure that decision makers put into consideration the resultant environmental impact in relation to a particular business project. According to the International Association for Impact Assessment (IAIA), business enterprises should formulate approaches which are aimed at ensuring that a comprehensive impact assessment is attained (Petts1999, 23). This will benefit the society in that firms will be able to identify and assess the necessary changes which should be undertaken designing the product so as to reduce the product’s environmental impact. Considering the fact that environmental assessment is aimed at ensuring that the firm undertakes its corporate social responsibility effectively, business enterprises will be required to undertake considerable inves tment in understanding the needs of the society (Tolhurst, Pohl, Matten Visser 2008, 244). The society may be reluctant in giving their opinion regarding the operation of the firm. This means that the EIA tools may not be effective. Integrating a code of conduct with partners In our operation, Hewlett Packard works in collaboration with various stakeholders in an effort to attain its goals. One of the issues which the firm’s management team puts more emphasis on entails ensuring that integrity is not compromised in all its business dealings. This is achieved via incorporation of a code of conduct with its business partners. To eliminate the various forms of corruption such as bribery and exhortation, business enterprises should ensure that their business associates and other stakeholders such as suppliers adhere to business ethics (HP Ethics and Compliance Office 2006, 1). In addition, businesses should ensure that their counterparts are familiar with the various laws and co nsequences associated with the firm. This will mitigate chances of financial loss occurring due to involvement with corruption (Organization for Economic Cooperation and Development 1999, 29). To prevent any form of corruption, we require our business partners to formulate and implement effective controls. These are aimed at preventing and detecting various acts involving corruption. In line with this, we suggest that Local Network members should formulate and implement effective controls. Through implementation of these controls, both the business partners such as suppliers and customers will benefit. For example, the firms will be able to operate effectively and efficiently leading into increased customer satisfaction.Advertising We will write a custom essay sample on Submission to Local Network specifically for you for only $16.05 $11/page Learn More However, there are challenges which the firms will face. One of these challenges relate with the fact that business partners will find it difficult complying with the laid down controls due to existence of legal and cultural differences (Vig Axelrod 1999, 35). The above points reflect some of the guidelines which members of Global Compact should integrate. Consideration of these issues will contribute towards increased compliance with the Global Compact requirements. We hope that this submission will be carefully considered and look forward to a draft paper that details the approach to be taken by the Local Network. Reference List Fernado, Andrian. 2009. Business ethics: an Indian perspective.Sydney: Pearson Education HP Ethics and Compliance Office. 2006. â€Å"HP partners code of conduct.† Houston: Hewlett Packard. Mason, Michael. 2005. The new accountability: environmental responsibility across  borders. New Jersey: Earthscan. Organization for Economic Cooperation and Development.1999. No longer business  as usual: fighting bribery and corruption. New York: OECD Publ ishing. Petts, Judith.1999. Handbook of environmental impact assessment: environmental  impact assessment in practice: impact and limitations. New York: Wiley Blackwell.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The Global Compact. 2008. Corporate citizenship in the world economy. New York: United Nations Global Compact Office. Tolhurst, Nick, Pohl, Manfred, Matten, Dirk Visser, Wayne. 2008. The A to Z of  corporate social responsibility. Chicago: Wiley Publishers. Vig, Norman Axelrod, Regina. 1999. The global environment: institutions, law and  policy. New Jersey: Earthscan. This essay on Submission to Local Network was written and submitted by user Melany J. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.