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Coporate Governance - Essay Example

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Coporate Governance

Definition of corporate social responsibility also includes the broader concept of economic, environmental, and social sustainability. CSR is a fundamental part of an integrated set of principles applied to the management of business. A business model should integrate economic performance with environmental and social values. This is a good definition of corporate social responsibility.
The Boeing Company is the world's leading aerospace company, with its heritage mirroring the history of flight. It is the largest manufacturer of satellites, commercial jetliners, and military aircraft. The company is also a global market leader in missile defense, human space flight, and launch services.
in the cabins and cockpits of many jets manufactured. Use of an overly harsh cleaning fluid on fuel tanks caused the inner coating of the tanks to flake off. Fuel tank repairs were made after the tanks had been
Boeing has managed to stifle environmental reforms, become the state's second-worst polluter in a region renowned for its environmental awareness, and avoid serious scrutiny from the media, the public and even environmentalists. Despite Boeing's claims of a proactive environmental evolution, government regulators agree that Boeing rarely makes any major environmentally minded reforms without being so ordered. Boeing has taken credit, for example, for phasing out wasteful spray-paint guns and the use of CFCs in its part-cleaning vapor-degreasers. Boeing withholds from the public details of its plans to reduce toxic waste emissions, keeping watchdogs in the dark about areas where the company could or should be cutting down on pollution. State officials are allowed to see the plans, but they can't copy them. Perhaps most importantly, Boeing uses its enormous tentacles reaching deep into the state's political, business, social, even religious institutions to blunt criticism.
Boeing's Auburn plant discharged nearly 1,400 pounds of chromium - a carcinogenic heavy metal that can kill marine wildlife - into one of Metro's sanitary sewage systems. Boeing uses chromium to help make parts corrosion-resistant. Unbeknownst to Metro, the chromium went to the agency's sewage treatment plant in Renton, where most of it found its way into truckloads of bio solids - treated solid waste primarily used to fertilize forest and farm lands. Much of it winds up in the Olympic National Forest.

In 2003 Boeing Co. chairman and chief executive Phil Condit resigned unexpectedly only days after the huge aerospace manufacturer fired two other Boeing officials for an alleged ethics breach. Condit had been with Boeing since 1965, when he joined the company as an aerodynamics engineer. He has been chief executive since 1996 and chairman since 1997; the company's seventh chairman since it was founded in 1916.Boeing has been roiled for months by ethical controversies ...Show more

Summary

To us governance is the guiding principle for how we run the business. We have run our business in a manner that creates and sustains a financially strong organization, which takes its social and environmental responsibilities seriously. Today, governance has come to be defined by others as identifying specific structures; controls and processes to ensure the interests of shareowners are protected.
Author : jherman
Coporate Governance essay example
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