Contemporary Issues for Business and Society Assignment - 1

Contemporary Issues for Business and Society - Assignment Example In the current era organisations are making charities, voluntary actions, they are also using energy in a sustainable manner (International, 2006). Global organisations are promoting healthy work atmosphere, compensation and reimbursement policy as per the social and environmental factors. Globalised operational structures are demanding flexible strategic development. Global organisations are making social audit to produce the report to meet the demands of the stakeholders. In the current study, ‘Responsible Management audit’ of Nike is done in terms of meeting the above mentioned challenges. Various UN Global Compact Principles are contrasted on behalf of the Nike and annual ‘Communication on Progress’ report is stated to evaluate the topic (About.nike.com, 2015). UN Global Compact can be defined as a set of strategic guidelines scheme that are aligned to the operations and strategies of global firms. Guidelines are developed as per various factors like the human rights, labour, environment and anti-corruption. These factors are helping organisations to develop sound CSR strategies and maintain the benefits of their stakeholders. These guidelines are developed as per affects of the globalisation (AhÃŒ £mad and Crowther, 2013). Firms are able to maintain increased benefits for their market segment, and business associates. UN Global Compact scheme will increase the use of emerging technologies and feasible investment option in the global market. Henceforth, firms can increase their contribution on the national and international economies and societies. Global organisations like Nike, is facing intense challenge from the diversified social, political and economic factors of the market. Such challenges are restricting profitability and growth in international market (Berliner and Prakash, 2012). In the international footwear and sportswear industry Nike is holding the leading position. The American based multinational manufactures and designs athletic