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Responsibility strategies for multinational companies must achieve a balance between the company´s interests and those of its stakeholders, both at the global and the local level in each country of operation. The strategy must take into account the realities of those countries, including their institutional framework, the compatibility between corporate and local cultural values, consider the needs and expectations of society on company´s activities, that being large and foreign will tend to be broader than for purely local companies. This will certainly change the responsibility priorities in each country. Furthermore, the strategy must consider the perceptions, right of wrong, that stakeholders have about the company, its country of origin and of other companies from the same country. For companies operating in developing countries, and we illustrate with the case of Latin America, responsibilities may cover other areas not covered in their countries of origin, as they may face government failure, and may need to carry activities not usual in their country of origin to further their interests. In this broader context, the company will have to prioritize and harmonize activities in their responsibility strategy. This paper presents a conceptual model, with practical applications, and discusses the issues involved in the preparation of the local and global strategy. It also discusses the limits of corporate responsibility in developing countries.
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