Corporate Politics And Responsibilities

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Corporate Politics And Responsibilities

· Corporate Responsibility
As we moved into the 1990s companies became aware that social responsibility was essential to their corporate responsibility to make a profit. Companies are now discovering that high road practices such as working with unions, and treating the community and environment are often more profitable, and certainly more respectful than old style low road practices that companies used to use that often overlook the needs of the unions, community and environment. William Norris, the founder of Control Data Corporation sums it up well when he stated that, You cant do business in a society thats burning. What he meant was that if your community houses the poor and uneducated, you cant run a business. If your employee pool is uneducated, than your product will be poor, and if your community is poor, than no body will be able to afford your product.
One step in being a responsible corporate entity is to better your relationship with your employees. One notable example of this is GMs Saturn division. Saturn is known for making managers partners rather than bosses, and during meetings, everybody has say. Other companies look to distribute stock to its workers, therefore making the workers the owners. This is usually done through the companies 401k plan.
Another step to being a responsible corporate entity is to give back to their community. Organizations such as Levi Strauss, Honeywell, and Reebok encourage their employees to serve community service by working in soup kitchens, tutor in local schools, and give their time to other charitable organizations.
While it may give these corporations a good image because they are acting socially responsible, there is also hard evidence that it also makes them more profitable. For example, the Council on Economic Prioritys (CEP), a prestigious resource council has found that the more socially responsible a company is, the more likely that a company is going to be financially successful. A Dickinson College study done in 1992 found the same results, and a 1993 Rutgers study found that the top 25 percent of firms rated by their social responsibility had an 11% higher gross rate of return on capital than their competitors.
Corporations using self-managing or empowering their workers show fewer turnovers, less absenteeism, and a higher rate of productivity. This leads to a duel bottom line of achieving both higher financial gains, and valuing workers.
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