Wednesday, January 22, 2020
Whirlpool Corporation Ã¢â¬ A Lawful, Ethical, and CSR Minded Business Essa
Whirlpool Corporation Ã¢â¬â A Lawful, Ethical, and CSR Minded Business Whirlpool Corporation Ã¢â¬â A Lawful, Ethical, and CSR Minded Business During the past several years global companies, like Whirlpool Corporation, have gained global awareness of the complex and evolving legal, ethical, and social expectations of their stakeholders. While many companies have started to tackle these new set of requirements by modifying their mission statements, business policies, and workplace practices, leadership companies continue to wrestle with the challenge of integrating these three vital topics into their overall business operation. Companies that successfully integrate plans to incorporate the legal, ethical and corporate social responsibility concerns within all areas of their business stand to gain financial and social benefits through the identification of new business opportunities, the strengthening of their brands and corporate reputation, the attraction and retention of top employees, and the recognition as a trusted partner (Integrating CSR: New Risks, New Rewards, 2004). In this particular paper, the author will attempt to describe how legal issues, ethics, and corporate social responsibility (CSR) impacts the management planning of Whirlpool Corporation. Whirlpool Corporation is the world's leading manufacturer and marketer of major home appliances, with annual sales of over $13 billion. They employ 68,000 people, and have nearly 50 manufacturing and technology research centers around the globe. The company markets Whirlpool, KitchenAid, Brastemp, Bauknecht, Consul and other major brand names to consumers in more than 170 countries. Whirlpool Corporation is also the principal supplier to Sears, Roebuck and Co., of many major home appliances marketed under the Kenmore brand name (Fast Facts, 2005). Embedded in Whirlpool Corporation and their Board of Directors is the deeply held value that continues to guide them: "There is no right way to do a wrong thing" (Continuing Legacy, 2005). This basic code of conduct underlies the company's long tradition of strong and independent corporate governance. Whirlpool's Board of Directors is currently comprised of eleven directors, nine of whom are indepen... ...al responsibility and education. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_education.html. References Whirlpool Corporation. (2005). Social responsibility and the environment. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_enviroment.html. Whirlpool Corporation. (2005). Social responsibility and mexico. Retrieved June 25, 2005, from http://www.whirlpoolcorp.com/social_responsibility_mexico.html. Whitman, D. (2003, April). Building a global loyal following. Retrieved June 26, 2005, from http://static.highbeam.com/a/appliance/april012003/buildingagloballoyalfollowing. Yahoo Finance. (June, 2005). DiversityInc. magazine recognizes whirlpool for diversity strengths. Retrieved June 25, 2005, from http://biz.yahoo.com/prnews/050616/deth006.html?.v=14.