Corporate sustainability starts with a company’s value system and a principles-based approach to doing business. This means operating in ways that, at a minimum, meet fundamental responsibilities in the areas of human rights, labour, environment and anti-corruption. Responsible businesses enact the same values and principles wherever they have a presence, and know that good practices in one area do not offset harm in another. By incorporating the Ten Principles of the UN Global Compact into strategies, policies and procedures, and establishing a culture of integrity, companies are not only upholding their basic responsibilities to people and planet, but also setting the stage for long-term success.
The Ten Principles of the United Nations Global Compact are derived from: the Universal Declaration of Human Rights, the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work, the Rio Declaration on Environment and Development, and the United Nations Convention Against Corruption.
Human Rights
Principle 1: Businesses should support and respect the protection of internationally proclaimed human rights; and
Principle 2: make sure that they are not complicit in human rights abuses.
Labour
Principle 3: Businesses should uphold the freedom of association and the effective recognition of the right to collective bargaining;
Principle 4: the elimination of all forms of forced and compulsory labour;
Principle 5: the effective abolition of child labour; and
Principle 6: the elimination of discrimination in respect of employment and occupation.
Environment
Principle 7: Businesses should support a precautionary approach to environmental challenges;
Principle 8: undertake initiatives to promote greater environmental responsibility; and
Principle 9: encourage the development and diffusion of environmentally friendly technologies.
Anti-Corruption
Principle 10: Businesses should work against corruption in all its forms, including extortion and bribery.
63) Country risk is considered similar to ________.A) political riskB) commercial riskC) currency riskD) cross-cultural riskAnswer:A
64) Rockwall Enterprises is planning to expand the firm by establishing operations outside of theU.S. In which of the following countries would Rockwall most likely be able to establishoperations most quickly?D
65) Which of the following statements is true about the political risks in a global marketingenvironment?C
66) An individual from a country with a high degree of political risk would most likely be from________.C
67) An individual from a country with a low degree of political risk would most likely be from________.A) VenezuelaB) CanadaC) ZimbabweD) IraqAnswer:B
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68) Guanxi, in the Chinese business context, means ________.C
69) Russia is in transition from ________.B
70) The Foreign Corrupt Practices Act forbids U.S. companies from bribing government officialsor political candidates in other nations.
71) Managers who take an active approach to political risk management are likely to rely onstatistical modeling to quantify the precise degree of political risk.
72) International companies often must customize products to comply with local standards ifthey are to do business in a particular country.
73) Expropriation is the term used to describe a host-country government seizing the assets of aforeign corporation and providing no compensation in return.
74) Managers who take an active approach to political risk management are likely to rely onstatistical modeling to quantify the precise degree of political risk.