Gone are the days when the primary focus of all business organizations was profit maximization and to be the no 1.Today the principles of triple bottom line i.e people-planet-profit (having replaced the double bottom line) , sustainability, corporate citizenship and corporate social responsibilty have occupied the center stage of all business processes.Apart from the interests of shareholders,it is imperative to take into account the stakeholders too that include workers, clients, suppliers, environment, the community and the future generations.The performance of an any organization is not just gauged by its performance on the bourses but parameters like: 1) Are the activities sustainable and not detrimental to the environment directly or indirectly. 2) Are the business decisions taken after considering the underlying risks with sufficent contigency plans. 3) Is sufficent care taken to ensure the welfare of the workforce and regulated monitoring done to ensure malpractises like child labour are not present at any level of working of the organization. Leaders all the world are embedding global responsibilty in the fabric of their business to deal with these challenges.Some of the efforts that have been taken henceforth include fair wages increase ,ensuring latest health and safety procedures are in place like the care centers , recycling and developing renewable resources and philanthrophic initiatives undertaken. As the business processes are getting globalised ,spreading their existence world over it is required that global leaders work across personal boundaries of social identity, internal boundaries of level and function and external boundaries of organization,country and region.Thus the concept of integration is indispensible part of global responsible leadership.In this global society,national ,international and multinational companies are a conglomeration.There can be different standards and diverse challenges which can be turned into opportunities by integration.How this is achieved shall be discussed little later but at present I shall focus on some of the leadreship practises to achieve global responsibility. 1) Developing a framework with a vision in mind and then planning out the strategies and policies to achieve the same
The basic requirement is to develop a vision keeping in mind the strengths and focus of the core business and also the demads and expectations of the stakeholders.The advantage of creating a vision is that it acts as a guide book for the company to prioritize the tasks undertaken by the company.This is followed by crafting the strategies which can enable business opportunities,social good and environmental protection.The policies are then fabricated to link the vision and strategies with the operations of the company.
2) Top management support
The success of the organization in achieving global responsibility rests on the fact that how proactive is the management – senior leaders and executive team in supporting to this cause.This practise particularly becomes important in challenges like rising cost, decreasing revenues,convincing the client with the credibility of the Globally responsible policies etc. 3) From planning to incorporation
After the framework is made through a vision and crafting the strategies,the challenge that lies ahead is the implementation ie integrate the Global responsibility policies into the business in such the way that the entire process gets in sync and does not disturb the supply-chain management. 4) Carrying the global responsibilties beyond the “Traditional Walls” This is a crucial practise and has a big role to play in the success of the Global responsibility leadership of the company as it includes approaching the stakeholders which include the employees of the organization,the suppliers,vendors customers members of the community and non-profit...