Ethical and Social Responsibility at Hyundai Motor Company Essay

Ethical and Social Responsibility at Hyundai Motor Company - Essay Example By being ethically and socially responsible, the company ensures that it maximizes positive impact on the society, while reducing negative societal impact. Accordingly, a company is supposed to ensure legal, economic and charitable humanitarian responsibilities (Ihlen, Bartlett & May, 2011). The Hyundai motor company is an automobiles manufacturing and distribution company, of South Korean origin. This company has dealings in many other world regions including; Europe, America as well as the Middle East. According to Lansbury et al. (2007), among the company’s main concerns is, corporate social responsibility via corporate citizenship, through which, the company makes its contribution to the global society. For Hyundai motor company, ethical responsibility encompasses social contribution, environmental management and trust-based administration. As far as social contribution is concerned, the company has enlarged its capacity and obtained expertise for effective global projects (Kaslow, 2006). Hyundai also participates in charitable initiatives that contribute to the improvement of the lives of the local population. Trust-based administration focuses on the improvement of labor dealings, mutual benefit between them and their suppliers, as well as transparent management. Lastly, environmental management deals with responding to global tendencies, as well as environmentally related laws. It recognizes that the environment is an essential element in any business, therefore, promotes the manufacturing and supply of environmentally safe goods. The Hyundai Company also ensures the reduction of pollutants, while preserving sources of energy, from product manufacture to its disposal. Needle (2010) states that, this is achieved through training programs offered to all employees on international laws and regulations concerning the environment. Generally, the company aims at gaining trust from both the public and the government and pursuing qualitative and quantitat ive growth. In addition, Hyundai seeks to lead the industry in sustainable management, improve corporate competitiveness and grow as a revered company. Hyundai concerns itself with communities suffering the aftermaths of natural disasters, by providing quick and effective assistance. In the summer of 2005, Austria was hit by unusual floods on the Alps. In response, the Hyundai Motor Company sent financial help and provided vehicular support to help in the evacuation efforts. According to Hyundai worldwide (2010), this gesture was well received by Austria and served to solidify the Hyundai presence in that region. Through its subsidiary company in America, Hyundai has positively impacted on the society, especially through its â€Å"hope on wheels† foundation that has funded the field of pediatric cancer study and treatment. Hyundai is also an ardent supporter of the American society against cancer, to whose end; it has given financial aid since 2001. Hyundai is also a corporat e sponsor of the association that calls for equal rights for all Americans, thus ensuring political, social, educational and economic rights of the minority in the American system. These activities have helped Hyundai gain many accolades globally. The Hyundai Motor