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5 Pages Essays / Projects Year: Pre-2021

INTRODUCTION As a multinational automobile corporation, we are always encouraged to be socially responsible. Social Responsibility is by and large the company’s willingness in the advancement of the community, by understanding how the business has an effect on the society hence minimize the setbacks and boost the advantages (United Nation Publication 2014). The 10 UN Guiding Principles acts as a doctrine, establishing the frame in which states and companies could inaugurate strategies, processes and regulations with regards to their roles and/or situations (United Nation Publication 2014). Enhancing the compliance with the guiding principles, will strengthen the company’s bond with the primary and the secondary stakeholders and Toyota have been taking concrete initiatives in abiding the Global Compact Principles (Toyota Global 2014). OBJECTIVES This submission will analyse current policies in place and propose strategies to further reinforce the compliance with the Global Compact Principles, as well as evaluate the benefits, possible challenges and impacts on the different stakeholders The two principles of United Nation Global Compact that we are to further compliance with are:  Principle 9 (Environment): “Encourage the development and diffusion of environmentally friendly technologies” (United Nation Global Compact 2016).  Principle 10 (Anti-Corruption): “Businesses should work against corruption in all its form, including extortion and bribery” (United Nation Global Compact 2016). ENVIRONMENTAL POLICIES Undoubtedly, our company have been taking numerous environmental measures in order to better compliance with the Global Compact Principles. In the aspect of environment, the company have been taking potential moves to ensure a sustainable production and promising tomorrow for the future generations (Toyota Global 2014). The major concern of any corporation in the automobile industry is the emission of greenhouse gases especially CO2, contributing to global warming and adverse climatic changes, and the consumption of energy and/or natural resources (Toyota Motor Corporation 2013). There are efforts in place to ensure water consumption is minimized, waste volume is reduced and the carbon emission are at a reasonable level, at the manufacturing sector (Toyota Motor Corporation 2013). On top of that, Toyota, take part in effective innovations which enables them to produce vehicles that are more environmentally friendly, such as the hybrid eco-car which runs on alternative fuels such as gas fuel, electricity and hydrogen (Toyota Motor Corporation 2013). There are also social contribution activities contributing to the betterment of the environment. For instance the “Toyomori” Project in Japan and the Manatee Protection in Brazil, where the managements at the respective branches collaborate with local communities and NGOs, for a common goal, of raising awareness and/or protecting endangered species. In overall, the measures have been effective. The number of eco-friendly products are increasing, especially since the hybrid cars takes into account the needs of the users and the need to be more sustainable (Toyota Motor Corporation 2013). The actions in collaborating with local communities leaves a positive impact on the people and are efficient as the measures aid in achieving sustainable and protected environment. Most importantly, the measures taken in the manufacturing plants are found to be most useful; reducing waste and cutting down water usage in a manufacturing plant are potent in approaching major environmental challenges (Toyota Industries Corporation 2013). However, the major issue would be the sustainability of these measures. In order for any strategy to be fully effective, it has to be sustainable in long run. Hence, our company has to work on the long run stability of the measures. In order to compliance better with Principle 9 stated above, Toyota just has to ensure that the measures put in place are effective in a longer run. There has to be a monitoring system to ensure the stability and consistency of the strategies. We could integrate with local and international environmentalists, where there could be a routine checks on the measures that involve water usage and waste reduction. Campaigns could be held in order to educate the workers and the managements on the importance of conserving resources and energy in a production plant as well as train on the operation of the new equipment and machinery. On top of that, the involvements with the local community should be a routine, instead of a one-time event, so that there is a continuity in the efforts. This will ensure that the workers in any plant are able to operate the machineries and know the importance of compliance with the principles. The steps taken will all be more efficient with frequent monitoring. However, this means the company would incur more cost: cost of innovation, implementation and monitoring. Shareholders will be adversely impacted to an extent but secondary stakeholders and the community will be benefitted from the additional efforts. Compliance with the principle by innovating is not sufficient if there is no assurance on the stability of the strategies. Hence, to better compliance, we need to have a better monitoring system despite the additional cost incurred.


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