Corporate responsibility to Shareholder, Public And Employees



Corporate Responsibility to Shareholder, Public and Employees

Introduction

Each company and business when commence comprises of their certain set agenda which fluctuate from business to business. The existence of businesses is to make profit. But, at the same time there are other important things that exit and needed to be fulfilled. These are services needed by the community and people associated with the company. Hence, in order words, each business encompasses a corporate responsibility to public, to its shareholders and also to their employees. The focus of this paper is to discuss the importance the corporation's responsibility towards shareholder, the employee, and the public.

Discussion

The concept of corporate responsibility is related to the ethics of business. Company usually set their own core values, and these values are interlinked with the businesses that are dealing. Previously, corporate responsibility was dictated via their government and law was set which has to be adhered concerning social and financial responsibility. Currently, corporate responsibility needs to consider the world in which we are living on a greatly wider scale (Horrigan, 2012).

A corporation is an artificial legal structure that carries out business. The objective of a company is to create profit. Corporations are usually formulate via different people and is completely separate from owners. Corporations comprise of shareholders and this share might carry out different shareholders that are privately or closely held or offered sale to the public.

According to Joel Bakan 2004, corporation has risen from a relative obscurity in order to become the world's dominating economic institution over the past 150 years. Corporate responsibility is deliberate program and was legally compelled to externalize costs regardless of the harm that it causes to communities, people and to natural environment. Joel Bakan, 2004, stated that today, corporation has turn out to be a pathological institution, manipulate and possesses immense power which has been dangerous for people and societies (Bakan, 2004).

Corporation work persistently for their own economic benefits i.e. self- interest without any exemption regardless of any harmful consequence it might cause to others. Corporations this self -interest objectives victimizes individuals and shareholders and can cause self-destruction which has been recently been revealed by Wall Street scandal. Corporation when conducting any activity, they neither recognize nor act, on moral reasons to refrain from harming others and their act does cause harm when the benefits outweigh the costs. Adverse things ensue to people and the environment and the reason for this is corporation relentless, and legally pursuit of self -interest which has been categorize as externalities by economists. Corporation such actions affect public in the long- run and short- term, for example, leaving mining ground uncovered after mining is exhausted, might turn out to be a trouble for society. Thus, public should be given first priority in corporate responsibility (Mullerat, 2010).

The article “How to Become an Authentic Speaker” by Morgan (2009) the first and the most critical focus while rehearsing the speech is to be open to the audience. He emphasizes on the importance of ...