User:Kasun Pasquel/sandbox

= Corporate governance and sustainability in the modern business world by Kasun Pasquel =

Why this article is important?
The article discusses the importance and significance of corporate governance practices and sustainability management approaches for the modern business world players in the context of Unilever. The main reason to writing the article based on Unilever is, it is a multinational organization that requires high level of corporate governance and sustainability assurance.

Introduction
The corporate governance approaches and issues for the modern business world organizations are evaluated in the context of Unilever. Unilever's success is linked to Unilever's strategy implementation (Shrivastava & Addas, 2014). In particular, it demonstrates its dedication to leadership through corporate governance, including business change and local cultures into the internationally acknowledged structure (Aguilera et al, 2021). Unilever's leadership commitment is based on its corporate management. In particular, its Business Standards Code binds the Company and its subsidiaries to conduct business activities in accordance with globally recognized best practice principles (Minciullo, 2019). As a result, it complies with good practices, such as respect of the law, strong competition, business integrity, diversity promotion and quality products and services to consumers (Jaimes & Jacobo, 2016). The Codes of Business Principles enable it to meet these standards. Corporate governance is the company's standard (Shrivastava & Addas, 2014). Noteworthy, regardless of the leader that is in charge, Unilever has a leadership commitment (Aguilera et al, 2021). Unilever reacts to a range of international contexts as a multinational firm. Unilever is able to provide various and sensitive different recommendation on cultural challenges through commitment leadership (Minciullo, 2019). Unilever's leadership in its subsidiaries' reaction to cultural concerns is based on its strategic approach and strategic arrangement (Jaimes & Jacobo, 2016). Unilever's capacity to dominate cultural frictions depends on cultural sensitivities. The reaction allows the organization to pass on national borders with the transfer of competences and ethical behaviors. Unilever also exhibits its leadership involvement through corporate culture and practices (Jaimes & Jacobo, 2016). Every person in the organization is the present Unilever CEO, as long as he/she favorably impact others. This issue particularly has a profound influence on the development of leadership and conduct in the international activities of the organization. The notion of leadership not only concerns traditional elements such as characteristics, but also the development of leadership skills developed through organizational learning processes and core competencies (Minciullo, 2019). The concept of leadership the effectiveness of leadership is controlled by the interaction between its expertise and strategy on the one hand, and the approach and actions of leadership from the other (Aguilera et al, 2021). To improve its effectiveness, Unilever's management relies on attitudes and conducts consistent with the management contingencies evaluated (Jaimes & Jacobo, 2016).

Sustainability approaches and issues of the modern business world
Paul Polman, CEO of Unilever, argues that the future depends on our actions in the ~Mahatma Ghandi." In 2010, Unilever launched its highly ambitious Unilever Sustainable Living Plan to "make a plan for sustainable growth". Unilever looks ahead to a feasible long-term business plan and looks forward to doubling sales by stepping up its sustainability initiatives. Paul Polman was quoted in 2014 saying that, over three years, sustainability and profit growth will increase simultaneously. Taking advantage of sustainable development could be considered as a problematic matter. In an attempt to enhance their balance Unilever was accused of profiteering from people who were not happy (Minciullo, 2019) . Can Unilever's approach to advancements in the environment be viewed as a strategic sales plan, corporate social responsibility, or both? By an international expansion split, Unilever has also managed its international operations, like so many other multinationals. Various items match national differences and preferences have been recognized. A portfolio of subsidiaries was therefore developed, managed by general managers of countries (Jaimes & Jacobo, 2016). However, there may be two major difficulties with this management system. Secondly, the aggressive autonomy of national subsidiaries has impeded the worldwide development of new items and improved techniques (Minciullo, 2019). Firstly, there are the cost of managing these subsidiaries (Boeva et al, 2017). Unilever thus needed innovation in the management structure of its subsidiaries. It determined that Unilever may retain authority at lower levels under a matrix organization, with subordinates reporting to several superiors. It is a better solution for Unilever. Nevertheless, it would have been difficult for most companies to incorporate this matrix structure into their organization, given that transnational activities are tough to organize through this complex framework. Dual reporting, for example, can lead to discrepancies and confusion and a probable overlap (Boeva et al, 2017). If a corporation chooses to include environmental sustainable development in its processes, it can have a number of consequences for stakeholders. Stakeholders must participate with the commitment to environmental sustainability of the organization, while retaining their say in the future management of the organization (Jaimes & Jacobo, 2016). Due to the concerns of the public as well as the harsher environmental rules, many companies are aware and stakeholders may considerably positively effect the importance of sustainability. For numerous reasons, even small enterprises should define the implications of sustainability and stakeholder management. Corporation accountability to its stakeholders is increasingly being held to comply with environmental regulations and to improve quality of life and not at least lower quality of life (Boeva et al, 2017).

The relationship between corporate governance and leadership of the modern businesses
Unilever is able to capitalize on the market in several ways through its commitment to leadership (Minciullo, 2019). First, Unilever's strategic leadership is linked to the long-term ambitions and goals of the organization. This interaction is demonstrated by Unilever's 2009 annual report, which reiterates the strong corporate principles and values that Unilever incorporates such as trust, integrity, people investment and performing best for the business (Boeva et al, 2017). The company is operating in a competitive market with increased accountability, responsibility and rapid action in this respect (Minciullo, 2019). By simplifying its target setting and increasing the performance of its personnel, the company increases its relation to consumers (Rajakulanajagam, 2020). Unilever uses LGP for the management and control of its human resources as an example of leadership commitment. In particular, "The Leadership Growth Profile" involves developing and implementing a success vision, in which Unilever's growth is based on the behavior of employees. Furthermore, this notion allows management to stimulate other employers while ensuring their commitment to progress (Jaimes & Jacobo, 2016). In the course of the years, Unilever has depended on LGP's efficiencies to modify and improve managers' attitudes and behaviors for the realization of strategic growth. In particular, LGP skills have enabled Unilever to search the worldwide market potential (Boeva et al, 2017). Unilever's LGP supports empowerment, delegation, responsibility, courage and perseverance, openness, confidence, and cooperation, and improved coaching (Minciullo, 2019). Unilever's LGP-based strategic management once again incorporates several factors such as sustainable value delivery in major categories, working within customer hierarchies, creating core skills, including competitive edge and trading in the markets (Boeva et al, 2017). Unilever has been empowered by these traits to continue producing managers as the next generation of world leaders. Briefly, the success of Unilever is a result of the business's leadership commitment in foreign markets (Jaimes & Jacobo, 2016). Unilever's leadership commitment depends on the corporate objective statement to define its market objectives and values and beliefs (Rajakulanajagam, 2020). Unilever has managed to concentrate on the local culture of its businesses in a global context using this concept of leadership (Minciullo, 2019). The "Corporate Purpose Statement" allows the external companies of Unilever to exploit their resources locally by aligning them with local relevance and an acceptable global structure. The company combines its worldwide knowledge with deep roots in a range of local cultures in order to supply a wide range of products suitable for consumers' needs and tastes (Boeva et al, 2017). Environmental preservation is linked into other social responsibility factors. Environmental monitoring groups have made their own evaluations of firms which believe that they do not contribute to the promotion of material recycling and renewal. Companies proactive in respect of the environment have a competitive edge at some time (Rajakulanajagam, 2020). With increasing expectations it has become more important than a key commercial benefit for enterprises to fulfil their environmental duties (Jaimes & Jacobo, 2016).

Conclusion
Corporate sustainability is viewed as the capacity of corporations, through their governance mechanisms and market presence, to positively affect environmental, social and economic progress (Boeva et al, 2017). Governance, from business to everyday settings, is a vital concern in many sectors. Corporate governance builds confidence in the public, who can be comfortable and act in the best interest of a variety of stakeholders, when properly exploited (Minciullo, 2019). As organizations learn to understand the influence of their actions on the environment, they are more interested than ever in sustainable development. For endurance to maintain commercial activities in the future, this is necessary (Boeva et al, 2017). Innovation is an excellent means of meeting the demands of current consumers, ensuring a socially responsible approach that is in line with the development of new technologies. The evidence of their impact on the present and the future is important for businesses (Minciullo, 2019). As a human race, the collective environmental influence has become ever more cognizant. Green initiatives are gaining momentum as we focus more on protecting the natural resources of our planet, in order to secure our future. Companies often utilize an impious amount of natural resources, which is still true today. However, becoming as green as possible is a developing endeavor which gives a positive social image to firms, without sacrificing their business activities.