Organizations are faced with a number of themes and issues, which they need to be compliant with for survival and augmented profitability. The themes and issues majorly surround corporate social responsibility (CSR) and globalization.
Environmental conservation as a CSR
Environmental conservation as a corporate responsibility has influenced organizations for quite a long time in history. Globally, corporates endeavor to ensure that the environment is conserved. Thus, companies consider conserving the environment as their social responsibility. Corporates can conserve the environment in different ways. A major global issue that faces companies is the need to use clean energy. Clean energy does not only prevent pollution but also enhances sustainability. Companies, on the other hand, try to minimize the costs of production by adopting the most efficient and the most effective techniques. As such, using clean energy is a challenge. Nevertheless, organizations should endeavor to ensure that the environment is conserved. Secondly, organizations are faced with the issue of proper waste disposal. It is apparent that waste disposal has been a major cause of environmental pollution. Companies, therefore, should dispose of their waste in environmentally sound manners.
Competition, brand differentiation, and globalization
Globalization has facilitated international trade. As such, businesses export their products to different markets globally. The ease in exportation resulting from globalization has drastically increased competition. In addition, local markets are crowded with numerous competing brands (substitutes). Companies, therefore, are faced with stiff competition and they should consequently ensure that their brands have the X-Factors, to separate them from their numerous substitutes.
Corporate reputation, risk management, and CSR
Brand image is vital in ensuring the survival and profitability of an organization. As such, corporate reputation should be enhanced at all costs. Poor risk management can result in problems such as corruption and other scandals that can adversely affect brand image. Corporates, therefore, are faced with the issues of doing things the right way and avoiding the risks associated with mismanagement and corruption/scandals.
Industrial relations, human resource management, and globalization
Companies need employees to meet their organizational objectives. Currently, various issues surround human resource management globally. For instance, industrial relations are pushing for revolutions in HRM management. As such, corporates are faced with challenges of ensuring fair and equal treatment of employees. Consequently, corporates should adopt techniques that foster flexibility, proper communication, trust in workplaces, and equity. Globalization has propelled the actions of labor unions since it has enhanced the comparability of scenarios.