Discussion Prompt: Global CompactIt has been written: “the global compact is a network of networks.”What is meant by this? What are the drawbacks and advantages?What can we learn from studying this architecture?To explore these questions, you might ﬁnd it useful to explore 3 ormore of the GC national networks. Pick the ones you think could […]
The term “Global Compact (GC) is a network of many networks” is used widely in academic circles. It means that the global compact comprises a chain of networks that works towards realizing the ten principles of the United Nations Global Compact. The term can also be used to mean that the global network does not only rely on UNGC in New York. On the contrary, it comprises a wide range of local networks that work towards mobilizing companies and organizations in different regions on the need to adopt sustainability practices (Gilbert and Ki-moon 350). The local networks are particularly useful in helping corporations identify sustainability challenges and opportunities in their operating environments.
The GC results in a wide range of advantages to business organizations. First, it allows the organizations to share ideas on the best practices in the market with stakeholders and investors (Rasche and Gilbert 106). Secondly, it allows companies and individuals to network with United Nations Global participants from over 160 countries. GC Local Networks is also instrumental in helping companies become more responsive to the environment through adopting sustainable practices.
One of the disadvantages of the GC is that its ten principles cannot be applied uniformly to all the companies in the world. This emanates from the fact that some regions in the world face unique challenges, making it difficult to realize the ten principles of the Global Compact. Such challenges include high levels of poverty.
Companies have got a lot to learn from the architecture of the GC. One of the lessons is on the importance of delegation of responsibilities. The Global Compact has successfully delegated its responsibilities to the local networks found in different countries around the world (Kell and Levin 171). For instance, fifteen local networks in the Asian region are involved in realizing the ten principles outlined in the GC Charter.
The GC Governance structure is based on distributing governance systems among different entities. The governance structure of the United Nations focuses on addressing issues such as corruption, global peace, and the rule of law.
Gilbert, Dirk U., and Ban Ki-moon. “The United Nations Global Compact as a Network of Networks.” The United Nations Global Compact, pp. 340-354.
Kell, Georg, and David Levin. “The Global Compact Network: An Historic Experiment in Learning and Action.” Business and Society Review, vol. 108, no. 2, 2003, pp. 151-181.
Rasche, Andreas, and Dirk U. Gilbert. “Institutionalizing global governance: the role of the United Nations Global Compact.” Business Ethics: A European Review, vol. 21, no. 1, 2011, pp. 100-114.
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Published On: 11-04-2018