Business and society Research Paper Example | Topics and Well Written Essays - 750 words

Business and society - Research Paper Example e draft Norms mainly when these norms are imposed on corporations directly under international law and the duties of human rights that are provided by the state. On the other hand, the article contains a detailed conceptual empirical review of current international standard imposed on the business environment regarding the relation of businesses and society. The article reviews legal international norms that govern corporations globally as well as the voluntary initiative of businesses to its communities (Ruggie, 2007, p. 7). In conclusion, the article identifies strategies for establishing a framework to reduce gaps in administration and adherence to human rights by businesses. In attempt to minimize bias between globalization and transnational corporations, the Draft Norms incorporated ‘other business enterprises’ which are also affected by the draft. On the other hand, the draft exempted nationally operating businesses that have no connection with transnational corporations. Increasing in corporation network lead to establishment of parents and subsidiary corporation which have separate legal entities. Subsidiary companies are liable to laws distinct enacted in that particular country. However, the transnational corporation’s network is not directly governed by international laws. To this effect, a move to develop global legal standards for transnational corporations poses a major challenge. Transnational Corporation has greater influence on realization of rights than the state. The main objective of international laws is to provide a direct and uniform corporate responsibility to all corporations that are not enacted into domestic laws. In this perspective, the Draft Norm enumerated rights that the states have not recognized and some are still debatable at global level. On the other hand, the Draft Norms provides that not all rights pertain to businesses, but it provides no principled basis for making that determination. These rights are included and