The Goodyear Tire & Rubber Corporation is a USA-based multinational tire producer company established in the year 1898 by Frank Seiberling and headquartered in Akron, Ohio. The Company fabricates tires for airplanes, race cars, light trucks, motorcycles, SUVs, commercial trucks, farm equipment, automobiles, and heavy earth-mover machinery. Goodyear was named after Charles Goodyear, an American discoverer of vulcanized rubber (Norbert Majerus; James Morgan; Durward Sobek, 2016). The initial Goodyear products emerged prevalent since they could be detached easily and needed diminutive maintenance. From Goodyear's inception in 1898, the Firm’s benchmark for success has been grounded on its pledge to unremitting enhancement and innovation. Since then, the Corporation has developed into one of the globe’s prime tire companies, with one of the utmost renowned brand names. They employ approximately 66,000 conglomerates in various localities around the globe-every one of them endeavoring to deliver the maximum quality in everything that the business does (Goodyear Corporation, 2017).
Evident differences between the two companies in terms of the range of issues dealt with in their social reports and the depth of coverage on specific issues
As an international organization, Bridgestone touches a differing cluster of groups all over the world. By upgrading how individuals live, learn, and work, the organization endeavors to positively affect the groups in which it works at the worldwide and local levels. It aids in building more secure, healthier communities and makes education more open and comprehensive ( Bridgestone Corporation, 2016). For instance, in relationship with Fleet Watch magazine and other industry accomplices, Bridgestone South Africa (Pty) Ltd. has taken an interest in Brake and Tire Watch; a program designed for enabling traffic authorities to recognize unroadworthy vehicles on the streets, and also to expand transport administrator familiarity with a proficient braking and tire checking. Traffic officials are trained on the significance of safe tires, tire shortcomings, utilitarian brakes and other visual safety segments. Trucks or buses found to be unroadworthy are then expelled from the street and issued discontinuing notices. Until now, the program has prepared more than 1,200 traffic authorities and scrutinized more than 400 vehicles, of which 60% were not in roadworthy condition. Through these exercises, Bridgestone adds to a more secure society. Moreover, since 1970, the company unceasingly contributes to the healthy life of local communities. This is archived through blood donations, training, medical contributions, and colloquiums on job-related medicine (Wayne Visser; Ileana Magureanu; Karina Yadav, 2015). Recently, the company introduced defibrillators (AED) and skilled employees how to make use of them. Employees working with Bridgestone Company also benefit from health amenities, for example, echography and other therapeutic examinations, preventive health campaigns (aiming at cancer, hypertension, corpulence, and so forth.), ergonomics programs, and psychosocial care. Through these and other exercises, Bridgestone strengthens the healthy life of local people. Besides, alongside with Bridgestone Cycle Company and Bridgestone Sports Enterprise, they hold the Bridgestone Children's Eco-Art Contest. This competition was established with the aim of conserving natural environment for a forthcoming generation, and it accentuates on the appreciation for an environment which is seen through children's drawings. This contest has been held since 2003, and a total of 313,199 magnificent drawings have been contributed hence expressing a variety of skills amongst the children. So we can conclude that Bridgestone Company aims at serving society with superior services and also it embraces its duty for an imminent generation (Bridgestone Corporation, 2014).
Unlike Bridgestone Company which aims at serving the society through the building of healthier communities, Goodyear Company focuses more on satisfying themselves first and is intended to use their assets to build and sustain concerted programs within a community venture focus areas. Their key is to an emphasis on areas that reflect the international and local nature of their business and where Goodyear Company can have the greatest influence including: upholding safe movements to make their people stronger and more secure (Dirk Morschett; Hanna Schramm-Klein; Joachim Zentes, 2010). Motivating individuals to achieve their potential in school and get ready for smart careers, reducing waste and preserving sustainable energy for their world. Related engagement serves as the foundational component of all of Goodyear’s corporate social accountability efforts (Swanson, 2014). Goodyear Company puts into consideration by ensuring that their manufacturing facilities are safe and harmless to the health and wellbeing of associates, workers, the surrounding inhabitants and the environment as a whole. Goodyear Company only participates in a program as community volunteers, unlike Bridgestone Company who views it as their responsibility to take back to the society ( The Goodyear Tire & Rubber Company, 2017).
An organization without a good management is bound to extinction. That is why it is tremendously significant to select the right managing style that would counteract such dreadful fate, as well as convey a coveted success to an organization (John O Okpara; Samuel O Idowu, 2013). Although Bridgestone and Goodyear companies manufacture similar products (tire and rubber products), they have different management. This is because they are located in different countries which adapt different management styles. To start with, Japanese companies’ belief that an individual should contribute to the society as a whole, on the contrary, USA organizations focuses more on satisfying themselves first and then subsequently concentrates on the community (Samuel O Idowu; Walter Leal Filho, 2008). Moreover, in terms of employment, Japanese organizations hire someone who is cheerful, enthusiastic, vigorous and willing to dedicate herself or himself to the corporation. So they hardly employ workers based on their education and skills. Conversely, USA companies specifically hire employees who are suitable for the job based on proper education and abilities. Besides, USA companies have a tendency of making quick decisions in order to archive abrupt results. As a result, decision making is obligated to USA managers only. The decisions made are then conversed to the subordinates. In Japan, on the contrary, corporations make a decision using two approaches. The first approach involves seeking approval from the lower level of management up to the top most management. The second method of decision-making process conducting meetings with the employees' where they all agree on what should be implemented (USA International Business Publications, 2015). This is advantageous because every employee is able to participate and contribute their points of view and also their opinions are considered. Due to all these differences in the two countries, the two companies, Goodyear and Bridgestone though they belong in the same tire and rubber industry they differ when it comes to corporate social responsibility (CSR) (Wayne Visser; Ileana Magureanu; Karina Yadav, 2015).
Assessment Of The Apparent Quality Of The Social Accounting Approach Utilized By Each Company According To Zadek Et Al.’S (1997) Criteria
The suggestion that corporations ought to be held responsible for their social performance has turned out to be progressive over the last five to ten years (William B Werther; David Chandler, 2011). This has produced significant debate about how organizations ought to establish their corporate social responsibility (CSR) and about what institutes best practice in social accounting, recording and reviewing (Zadek et al., 1997). Key ideologies are that socially responsible organizations should take part in discourse with their partners and create a social report that is a record of their social enactment (Dorothe?e Baumann-Pauly, 2013).
As supported by Zadek’s in his work, Bridgestone and Goodyear, through their initiatives aim at ensuring inclusivity mainly by bringing on board individuals who for various reasons are marginalized or excluded. Besides, accounting information provided by these MNCS is comparable in the sense that all principles employed are consistent from one fiscal period to another and as well, from region to another. In addition, the annual financial publications contain all essential and appropriate parts, an aspect the theorist referred to as completeness. On the same breath, it is worth noting the significance of external verification in these firms. External verification according to various theoretical works involves the confirmation of all transactions by an independent third party by use of the support documents. Bridgestone, for instance, hires qualified auditors to carry out this crucial function.
It is clear from the discussions in this section that these companies apply management policies and systems that ascertain evolution since they are both managed to bring about a general positive influence on the cultures and communities where they have conglomerates. The firms in the industry often collaborate to ensure a continuous improvement of these particular host communities (Samuel O Idowu; Stephen Vertigans, 2017).
The Bridgestone Principle, its shared viewpoint, directs the stakeholders towards building not simply better brands, but also better societies. The firm believes in observing ethical and moral values in its actions. This stress on integrity promotes a business culture that respects a variety of abilities, life experiences as well as backgrounds. Bridgestone Inc. never settles for the status quo. They are continuously challenging themselves to come up with novel inventions that will retort to consumer requirements and further benefit the entire society. Moreover, it is a common believe in this MNC that investing the time and energy essential to substantiate facts benefits not only the internal publics but also external interested parties. They use these clarifications to make and implement up-to-date decisions that lead them to the best possible results. Bridgestone’s pledge to distinction motivates them to put into consideration all possibilities and the full array of options before deciding on a course of action. Then, they move forward without hesitancy. These stated values are reflected in the social and sustainability reports availed by Bridgestone. It is evident from the discourse that the company puts the welfare of all and sundry and heart when formulating and implementing their decisions (Bridgestone Americas Tire Operations, LLC, 2017).
As hinted beforehand, Goodyear's primary Mission is to provide high-quality goods motivated by integrity, teamwork, and innovation. For about 100 years, this Company has endeavored to deliver the unsurpassed products. Goodyear's management is devoted towards making certain that business is carried out in a manner that encourages a principled code of conduct and legal conformity. The Goodyear companions strive hard to nurture an environment which values reciprocated respect, transparency and discrete integrity. Just like Bridgestone, leadership in Goodyear, values and accommodates diversity and inclusion. Among the imperative aspects of Goodyear's Diversity & Inclusion Policy is ensuring that its labor force is reflective of the societies and clienteles they serve. On the inside, their sundry and inclusive culture at the company enables their companions to contribute at their level best in an environment that is intended to be rational and nondiscriminatory. Goodyear Inc. comrades are fortified to make audacious resolutions and converse amenably and efficiently with others. Aforementioned attributes in this company are reflected in their publications in social sustainability reports which as explained beforehand elaborate on the robust connection between the firm and the external interested publics (Goodyear Corporation, 2017).
While consideration of the environmental and social influences of intercontinental business (IB) is not novel, the past centuries have realized transformed concern due to various unrelenting global challenges such as poverty and climate change. Multinational Corporations (MNCs) are viewed as taking an explicit role given their international impact and undertakings in which they are challenged with an assortment of issues, interested parties, and institutional contexts, in both motherlands as well as host nations. Their prospective in becoming not only part of the problems but also possibly part and parcel of the solution is progressively recognized and has come to the forefront in investigation interest in Corporate Social Responsibility (CSR) accomplishments and sustainable development implications of international business. However, organized research and inclusion in this or related works have been lacking. This paper has taken into consideration two examples of MNCs and referred to them to depict the importance CSR in the contemporary competitive business environment. It is clear that stringent philosophical practices meant to take back to the society, as opposed to the outlooks of the majority do not deprive the business of its primary economic goal of making a profit. CSR enables organizations to build and maintain an excellent corporate image which goes a long way in creating a splendid position and name of the MNC.
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