----- current issue and future forecast
Table of Content
Overview of the company5
Responding the suicide case in China in economic aspect7
Current economic issue in Foxconn7
Future opportunities and risk in Asia region8
Suicide case on political aspect11
The relationship with China and Taiwan11
Current social issues in Foxconn- Suicide Case14
DISCUSSION ON LABOR, HUMAN RIGHTS AND OHS15
Future Opportunity and Risk18
Future opportunities and Risks19
This report provides the current economic, political, social and environmental issues, future opportunities and risks, and recommendations for Foxconn. There were a series of suicide incidents happened in Foxconn around 2010 which puts the company under the spotlight.
The huge net deficiency in 2010 is the biggest issue in economic part. The political issues involved the tense relationship between Taiwan and China which have impacts on trades. The social aspect of suicide incident is discussed from the perspective of labour, human rights and occupational health and safety. Additional, pollution is one of the biggest problems on the environmental aspect.
Some recommendations also are proposed in this report to response the current issues of Foxconn and solve the risks Foxconn would face in the future
There are some limitations for the report as some problems do not have a right or wrong answer, also since the main incident was happened in China, it is believed that some information was covered up beyond search.
In recent years, turbulent business environment has brought companies with both opportunities and risks. Companies need to analyze quo status and forecast the future thoroughly if they intend to survive and make profits. In this report, it will analyze and discuss Foxconn from four aspects respectively, which are economic, political, social and environment. The suicide case will be discussed throughout the four areas and along with other issues that Foxconn had in recent years. Especially on the social side, the suicide incident will be explored and discussed in detail as it was one of the major issues that the company had to confront and other relating problems inside this giant factory have float to the surface. Overview of the company
Foxconn International Holdings Ltd is a Taiwanese company that is one of the world's largest makers of electronic components. Some of the products are printed circuit board, cable and connector. Foxconn have been operating factories in China, Europe, India, Mexico and Brazil. Directed by a belief that the electronic products would be a necessary part of daily life in each office and even in every home, Terry Gou founded Hon Hai Precision Industry Company Ltd with US$7,500 in 1974 in Taiwan (Hon Hai 2007), which is the initial company of Foxconn Technology Group. Foxconn was a trade name of the company at first, now it is called Hon Hai Technology Group. The first manufacturing place for Hon Hai was opened in Shenzhen, Mainland China in 1988. Now the company has 300,000 to 450,000 workers whom are employed in Shenzhen at the Longhua Science & Technology Park, which can be called as "Foxconn City" (Hon Hai 2007). The main stakeholders in Foxconn include shareholders, employees, directors and managers, customers, community and business partners. Foxconn has hundreds of companies across Asia, Americas and Europe. The global strategy is “time to market, time to volume and time to money” (Hon Hai 2007). Time to market means focus...