Corporate Governance Essays Examples
The current issues affecting these companies is the employee complaints leveled against insensitive management regarding poor workplace conditions, fair wages, human rights, child labour, health and safety, freedom of association, chemical management, and workplace harassments of vulnerable groups, and abuse by senior staffers especially in contracted developing countries. These issues cut across the companies Nike, Adidas, Ben & Jerry, and Nestle and affect the shareholder value and other stakeholders.
There are broadly three theories: Corporate Social Responsibility (CSR), the Triple bottom line and stakeholder theory (Brusseau, 2015). The most relevant theory is the stakeholder theory that encompasses all the issues listed above.
The methodology used in gathering information in this research is through reading literature review on corporate governance. Corporate governance has its roots in the nineteenth century (Vinten, 2002). The Board of Directors at Nike adopted a set of its own guidelines in the pursuance of corporate governance (Nike, 2005). Nike has continued to use water-based solvents in the manufacture its footwear and working towards controlling of greenhouse gas emissions (Nike, 2005). The company supports organic cotton, recycles old shoes into new sports shoes, as part of the company’s sustainability efforts (Nike, 2005). Adidas has also developed an approach calibrated towards environmentally sustainable resource allocation, climate mitigation, emissions to air and water, treatment of waste and other hazardous substances (Adidas, 2012). Nike also operates a toll-free Alert system where the employees can report business practices that violate the law or code of conduct. The social accounting for the company has become part of its corporate citizenship through participation in many world events organized where companies display their corporate governance through implementing recycling, reducing carbon footprints, and following green paths. Ben & Jerry’s products such as ice cream, sorbets and frozen yogurts are produced at the highest standards. Ben and Jerry’s business mantra is hedged on being responsible to the environment and the community (Ben & Jerry, n.d). Nestle current social accounting efforts include agronomy assistance, health and nutrition, education and manpower development, community development, environment protection and preservation, packaging source reduction program, solid waste management, and efficiency use of water in manufacturing, rehabilitation of victims of natural disasters, relief assistant. Nestle corporate citizenship is geared towards shared value through renewable energy, minimal waste, protecting watersheds; minimal waster nd closed recycling systems. Nestle code of conduct requires employees to desist from conduct that can damage the company’s reputation; employees should act honestly and legally, advance the company’s interests all the time.
The collection of information from the websites and articles does not give sufficient and current information that is reliable for a study of this nature.
The current issues have touched on what is ailing our companies. This is affecting the company’s employees and other stakeholders require urgently addressed.
Nike has developed a focus for its corporate social accounting on improving the working conditions in the contracted factories. Adidas has had long history of developing its social accounting to meeting the challenges facing it. Ben & Jerry’s have social accounting police in place and Nestle established its own social accounting to meet the challenges of globalisation.
Adidas Group, 2012: Pushing Boundaries – Adidas Group Annual Report 2012.
Adidas (2005),”Corporate Governance Principles”, http://www.Adidas.com/en/overview/_downloads/corporate_governance/Adidas-CorporateGovernancePrinciples.pdf, accessed: September 21, 2005.
Ben & Jerry, n.d :Ben & Jerry's Corporate Social Responsibility. http://bjsocialresponsibility.weebly.com/. Accessed February 22, 2015.
Nike, Inc. (2005), “Corporate Governance Guidelines”, http://www.nike.com/nikebiz/nikebiz.jhtml;bsessionid=KSPVXPB4MKEI0CQCGJECF4YKAIZEUIZB?page=7&item=guidelines, accessed September 21, 2005.
Vinten, G. (2002), "The corporate governance lessons of Enron", Corporate Governance, Vol. 2 No.4, pp.4-9
James Brusseau, 2015. The Business Ethics Workshop, v. 1.0.
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