Business corporations and society Essay

Business corporations operate in a pluralistic society. There is high interaction and interdependence between business, government and society. In today’s era of dynamic change characterized by information super highways and intense global competition, it is imperative for the CEO of a large financial firm to ensure that his/her company is a good corporate citizen, and should leverage such a position to generate more wealth for its stakeholders.

 

To become competitive and profitable our financial firm depends on a number of stakeholders like employees, shareholders, customers, channel partners, government and the society. To attract the best employees we have created a work environment where diversity is embraced, people are promoted on merit, innovation and an entrepreneurial spirit are valued and people treat each other with mutual respect and dignity. It is the loyal customers who contribute to our profits. We strive to better understand our customers and deliver products and services that reflect both our global reach and our deep local roots in every market where we serve. To attract quality channel partners we create mutually beneficial business relationships with minorities, women, disabled veterans, and people with disabilities. We believe that we have a responsibility to make a difference in the neighborhoods in which we live and work around the world. We reach out to and form partnerships with nonprofit organizations, civic groups, educational institutions, and local governments to reduce environmental risk and improve the quality of life.

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Shareholders who own the company definitely have the first call on management. We have made an aggressive effort to raise investor confidence through a series of reforms related to the independence and credibility of equity research. Coupled with contributions to charity, we recognize that working with a wide range of quality professionals, suppliers, and consultants strengthens the communities we serve and creates value and wealth for our shareholders.

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