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Finance & Accounting
Pages 3 (753 words)
Group project in ethics Introduction The financial crisis that began in 2007 destabilized the banking sectors and its effects spread to other industries across and the globe. Banks’ risky behaviors in lending were the major cause of the crisis and governments were quick to bail out the banks and other large companies because of their perceived significance.
1. Stakeholders of a corporation Stakeholders to a corporation are people, groups of people, and entities with interest in the corporation’s achievements. They can be classified into two groups, internal stakeholders, and external stakeholders. Shareholders are the first group of stakeholders, their interest is in their investments, and potential rewards from the investments. A corporation’s employees are another set of stakeholders with stake in job security and the corporation’s ability to pay remunerations in time. Management, a part of employees, also has interest in their obligations as the corporation’s custodians (Hill and Jones, 2012). External stakeholders include bond holders and other types of creditors whose interests is in the corporation’s ability to repay its liabilities, consumers because of their dependence on the corporation’s products and the government whose interest include tax from the corporation and regulatory measures over the corporation. Other stakeholders are the society within which the corporation operates, and immediate and extended economies (Hill and Jones, 2011). 2. ...
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