Implication of Social Responsibilities for MNC's

The assignment discusses the importance of social responsibility for multinational companies (MNC's), including their corporate social responsibility (CSR) efforts, internal and external business environments, and relationships with stakeholders. It also highlights the need for MNC's to consider human rights, work safety, and labor health in their operations. The document references several academic sources and provides a comprehensive overview of the topic.

INTERNATIONAL
BUSINESS

Table of Contents
Main Body.......................................................................................................................................3
Implication of social responsibilities for MNC's........................................................................3
REFERENCES................................................................................................................................5

Main Body
Implication of social responsibilities for MNC's
Corporate social responsibility refers to the efforts which put by the organisation in social
welfare. These efforts can range from donating money to non-profits to implementing
environmentally-friendly policies in the workplace. CSR is a management concept where
companies integrate social and environment concerns in their business operations and
interactions with other stakeholders. According to the rules companies have to follow the CSR
activities to sustainable development. It is the rule which tells the companies to focuses on the
social part and environmental part of the country. An organisation has to take care of all the
things before launching the new product or service. There is all about the social responsibilities
which have to follow by the organisations(Kaymak and Bektas, 2017).
International business consists of transactions that carried out across the national borders
to satisfy the objectives of individuals and organisations. The primary types of business activities
are importing and exporting and direct foreign investment. The another type of business
activities such as license, franchising, management contracts etc. The environment of business
has undergone vast changes in the recent years. The environment is changes in term of nature of
competition and wave of globalization that has been weeping across market. Companies are busy
to expanding their boundary outside the country.
Being socially responsible means not only fulfilling legal expectation but also going beyond into
human capital. They also have to follow relationship with stakeholders. The multinational
companies have to followed in internal and external business environment-
Internal environment relates to internal practice of multinational companies which need to be
modified social corporate responsibilities. It includes the element like human resource
management. It also includes Providing an environment for life long learning for employees,
better flow of information, improving the baleen between work, family and leisure (Filatotchev
and Stahl, 2015).

Work safety and labour health make direct influence on the productivity. Legal structure is made
up to health and work safety of employees. The companies not only need to maintain safety level
but also ensure that their suppliers and other connected parties comply with these principles.
Organisation have direct obligation to ensure the security of human right in their own operations.
Companies need to ensure that human rights law are withheld in all their dealing and related
action in emerging market.
External environment connect to the exercise concerning external stakeholders. The development
of positive relationship with people and thereby the growth of social capital is specially relevant
for non local companies. This relation is being used by multinational companies to help the
combination of their auxiliary into various market in which they are present(Cramer, 2017).
Building long term human relationship with suppliers, custom will enable companies to meet
customer demand better while reduction in complexity and price. Organisation doing
international business take on extra obligation because of the existence of outsourcing possibility
in the form of suppliers and agents.
Emerging markets like UK have drawn the attention of large multinational companies for the
potential of market growth. These markets are untapped and give entirely new domain for
operations.

REFERENCES
Books and Journals
Cramer, J., 2017. Corporate Social Responsibility and Globalisation: an action plan for
business. Routledge.
Filatotchev, I. and Stahl, G.K., 2015. Towards transnational CSR. Corporate social responsibility
approaches and governance solutions for multinational corporations. Organizational
Dynamics.44(2). pp.121-129.
Kaymak, T. and Bektas, E., 2017. Corporate social responsibility and governance: Information
disclosure in multinational corporations. Corporate Social Responsibility and
Environmental Management.24(6).pp.555-569.
Marano, V. and Kostova, T., 2016. Unpacking the institutional complexity in adoption of CSR
practices in multinational enterprises. Journal of Management Studies.53(1). pp.28-54.