Finance DB2-4 - Part 4 The American economy is changing before our eyes due to increased globalization and technology As it becomes much harder to

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Part 4 The American economy is changing before our eyes due to increased globalization and technology. As it becomes much harder to produce a truly unique product, companies are looking at other facets of their business that can generate more consumers and positive feedback from their employees. These consumers and the feedback together can instantly be spread across the world using technology such as blogs, social media like facebook, and online shopping websites. This makes the issue of gaining a favorable reputation that much more important to the success of a company. One way to increase customer and employee trust that has stepped to the forefront of company success is ethical and social responsibility. As part of a corporation’s ethical and social responsibility, it is necessary to determine where the company’s loyalties should lie. This is difficult to answer because it takes more than one group of people to ensure that a company continues to succeed. Without the shareholders, it’s stock would be worthless. Without employees, there would be nobody to run the business. Without consumers, there would be no business to run. And without society, none of the above would be possible. That is why I think that a corporation should be loyal to all of the above. If a company is able to please all of the sectors that help it to be successful at least some of the time, then it can continue to run smoothly and turn a profit in terms of continuing customers and satisfied employees. The days of maximizing shareholder wealth may be over, but it does not mean shareholders will not make a profit. Sometimes, in order to guarantee that the
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This note was uploaded on 02/10/2012 for the course FIN 3403 taught by Professor Tapley during the Spring '06 term at University of Florida.

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Finance DB2-4 - Part 4 The American economy is changing before our eyes due to increased globalization and technology As it becomes much harder to

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