A report, captioned ‘Emerging Best Practices of Chinese Globalizers - The Corporate Global Citizenship Challenge' has declared that china still has a long way to go in the realm of corporate citizenship. The study, jointly conducted by World Economic Forum (WEF) and The Boston Consulting Group (BCG), has made a number of recommendations both for Chinese companies and Chinese Government.
The study has identified three major challenges faced by Chinese MNCs. First, some of them lack a broad and thorough understanding of the concept of corporate citizenship. The second major challenge is a reluctance to communicate, such as disclosing balanced citizenship information to the general public, discussing a company's plan and thoughts with external stakeholders, and trusting the local partners. The third challenge is less favorable environment for innovation among Chinese companies. In order to combat these challenges the study has suggested that the Chinese government should try to build a culture of corporate citizenship, a culture of information sharing & open discussion and a culture of innovation.
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