The term “too big to fail” refers to the corporations which will be bailed out by the federal government if they are at risk of going under. These corporations are too big and too interconnected with the world economy that in the case of bankruptcy, their collapse would cause widespread economic and societal turmoil. Though many agree these companies are important to ensuring economic stability, some argue that if a company is “too big to fail”, they shouldn’t exist at all. Alan Greenspan, former Federal Reserve Chairman, was quoted saying “if they’re too big to fail, they’re too big” . Systemic risk relates back to the issue of corporations being “too big to fail”. Systemic risk is the risk of an entire financial system (or entire market) collapsing, opposed to just one segment (or entity) of the market. Companies within a market become so connected that if one were to fail, the entire market would be likely to deteriorate. Like Alan Greenspan, I think that corporations should never get too big that the federal government must bail them out. I believe that companies, whether they are financial or non-financial, should be held accountable for their actions. If their actions lead them to bankruptcy, these companies should face the consequences of either liquidating their assets or reorganizing their company under Chapter 11 of the Bankruptcy Code. Also, I understand that it is difficult for the federal government to stand by while a company goes under when it is known that the entire economic system will be harmed. Knowing this, I still have confidence that the economy is built to fix itself and overall the economy would be healthier without the threat that these companies create. During an interview with CNN, Willia... ... middle of paper ... ...01/gIQA4OhmcM_blog.html >. Zana, Tom. "The New Age of Corporate Citizenship: Doing strategic good that builds brand value." Interbrand (2009): 1. Print. Zana, Tom. "The New Age of Corporate Citizenship: Doing strategic good that builds brand value." Interbrand (2009): 4. Print. ESPN. "Wisconsin Badgers cut ties with Nike over workers, factories in Honduras - ESPN." ESPN: The Worldwide Leader In Sports. 9 Apr. 2010. Web. 17 Nov. 2011. . "NKE Key Statistics | Nike, Inc. Common Stock Stock - Yahoo! Finance." Yahoo! Finance - Business Finance, Stock Market, Quotes, News. Web. 17 Nov. 2011. . "NIKE, Inc. - Locations." NIKE, Inc. - The official corporate website for Nike and its affiliate brands. Web. 19 Nov. 2011. .
Corporate Social Responsibility (CSR) is the way a corporation achieves a balance between its economic, social, and environmental responsibilities in its operations so as to address shareholder and other stakeholder expectations. In general, when firms hold this wider encouraging role on the public by being engaged with stakeholders, a variety of profit can be produced for both company and the stakeholders. A key inclination is the combination of Corporate Social Responsibility (CSR) into the organization strategy, culture, mission and communications. By incorporating corporate citizenship into the company it is no longer an additional “nice thing to do” or something made to obey laws or regulations. Instead, corporate responsibility has become something business leaders and workforce want to engage in, frequently because executives who believe in the long-term see business profit. The four types of social responsibilities a...
"Nike." Columbia Electronic Encyclopedia, 6th Edition 1. Academic Search Premier, EBSCOhost (accessed November 6, 2009).
Times have changed drastically for businesses since the Internet and social media have become part of our everyday lives. It’s now easier than ever for the individual to gather data and follow organizations to ensure they are performing legally, morally, and ethically. Stakeholders believe that organizations have a social obligation to operate their business in an ethically, socially, and environmentally responsible way. The term for this idea is Corporate Citizenship. Corporate Citizenship is “the extent to which businesses are socially responsible for meeting legal, ethical and economic responsibilities placed on them by shareholders. The aim is for businesses to create higher standards of living and quality of life in the communities in which they operate, while still preserving profitability for stakeholders” (Investopedia.com, 2013). Stakeholders are expecting organizations to conduct business in a way that meets legal, ethical, economic, and philanthropic expectations that go beyond commercial relationships. Many organizations are including corporate responsibilities in their corporate mission statements and goals. They want stakeholders to see that they practice ethical behavior and are committed to their local communities in order to maintain a positive corporate image. According to CNN Money “Wal-Mart Stores Inc., had $469.2 billion in revenue last year and has reclaimed the top ranking in the Fortune 500 ranking of the largest U.S. companies by revenue”( Hathaway, 2013). Wal-Mart has over 10,800 stores and is a company that can have a tremendous impact upon the environment and their current employees and future employees. Largely due to its size and resultant influence, Wal-Mart is receiving constant pressure t...
it is considered as one of the trending rand worldwide. The first product they came up with was the track running shoes. They make every type of athletic shoes such as for ice hockey, baseball, cricket, football etc. but besides making athletic shoes now they also started making sports jackets, jerseys and shorts as well. Air zoom Yorker shoes were made for the cricket recently by the Nike’s and they. recently they made new products such as Nike NYX, Nike 6.0 which were aimed for the skateboarders. The headquarter of the Nike is located Washington county, united states. They have employed almost 70 thousand employees Including full time and part timers throughout the world in 2016 and their earnings increased to 32 billion dollars in the following year. In the united states of America almost 1.9 million were spent for the advertisement alone and as an outcome Nike was still on the list of one of the most trending brand for both men and women worldwide. (Words
An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.
Nike does not merely sell products these days. They spend billions of dollars for advertising contracts with famous athletes like Tiger Woods to increase the value of the brand by associating the factor of lifestyle to their products. The company's image has been damaged many times by press releases as well as a variety of NGOs who have long pointed out the inhumane working conditions in the production facilities of sporting goods manufacturers. This leads to the question whether should Nike orientate the regulations of the suppliers to the labor standards in their respective countries or those in the United States? The labor conditions are so inhumane that Nike at least should try to converse to the US standard to improve the situation. The following analysis of an abstract of Nikes’ Responsibility Concept, including SHAPE and their Code of Conduct, should give an insight into the difficulties of the Sweatshops.
In my opinion the government spends way too much money (taxpayers money) to make sure that the bigger institutions do not fail and have a huge negative affect on the economy. The way that many people, myself included, think the government should handle this is to break the bigger institutions up into smaller ones that way we can still let the institutions go bankrupt and not have it effect our economy in a big way.
Nike Inc. is a very successful publicly traded sportswear and equipment company based in the United States. Nike is a multi-national and Fortune 500 company. It has reached achievements in their innovation in products that Nike has become one of the most recognized companies today and companies dream to have what Nike has created. The main headquarters for the company is in the Portland area near Beaverton, Oregon. Nike leads the world in supplying athletic apparel and shoes. Nike shows how devoted they are in the satisfaction of their customer’s needs that it shines upon their mission statement and encompasses their vision. Nike ensures to go far and
Covey & Brown (2001) “the role of business in society has progressed over the years, from being primarily concerned with profit for sharehold¬ers to a stakeholder and community approach with a focus on corporate social responsibility”
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
Their first products were track running shoes, for a wide range of sports including track & field, tennis, baseball, Association football, lacrosse, basketball etc. Nike sells an assortment of products, including shoes and apparel for sports activities for men, women and children. Nike has contracted with more than 700 shops around the world and has offices located in 45 countries outside the United States Most of the factories are located in Asia, including Indonesia, China, Taiwan, India, Vietnam, Philippines, and Malaysia.
Reed, B. (2011). The Business of Social Responsibility. Retrieved from Dollars and Sense Real World Economics: http://www.dollarsandsense.org/archives/1998/0598reed.html
With the increasing awareness and publicity of poor working conditions in subcontracted factories in East Asia, Nike has stimulated an uprising of activist and watchdog groups working toward seeing these conditions changed. With Nike in the negative spotlight, various organizations have revolved around generating a negative outlook on Nike’s practices of social irresponsibility. Certain campaigns such as the “National Days of Consciousness” and “International Day of Protest” were organized to educate people on the deplorable working conditions in Nike’s Asian manufacturing plants, and were designed to get more people involved in global employment issues.
America is a birthplace of NIKE Company. Nike’s workplace consists of a leader, visionaries and experienced employees who are very passionate to maintain the status ...
by paying there workers less because they are in the far east. Nike and Reebok