Sony is a leading multinational company that is in to electronic business, founded in Japan. Its enhanced business is basically centered on the electronic items (TV, gaming supports, fridges), diversion, amusement and financial services. Sony is one of the leading electronic companies that has its branches all over the world. In this report, two business practices of Sony based on the Global Compact principles are discussed.
Business practice recommendations
It is essential for Sony Company to have environmental responsibility (CSR), that make a pledge to a reasonable and lawful working environment and diagram extraordinary securities for transient laborers. In order to provide quality service to the stakeholders morally and socially, Sony can adjust the model of corporate social responsibility.
Benefits, challenges and risks for key stakeholders if these recommendations are implemented
These codes of conduct will help to guide and bind together the activities and choices of all stakeholders who work for and with Sony. They will help to guarantee the improvement and usage of sound working systems over every practical range that screen out and oversee risks and issues identified with constrained work, obligation servitude and trafficking. By proper way of following the code of conduct as well as the environmental responsibility, Sony will be able to satisfy all its internal as well as external stakeholders, which in turn helps in building the goodwill and success in the organization.
To sum up, it is noted that it is a basic requirement for every organization to comply with the global impact principles in their business practices so as to ensure a quality business performance as well as success in a long term. Sony’s success in its global operations are based on the its effective Corporate Social responsibility or environmental responsibility and in the way it is following the business ethics or code of conduct within the company.