Corporate Citizenship Essay

4754 words - 20 pages

Bank of America: Analyzing Corporate Citizenship
In the words of Thomas Friedman, “If you don't visit the bad neighborhoods, the bad neighborhoods are going to visit you.” With “bad neighborhoods” symbolizing customers, this portrays a direct consequence of what can happen if a company does not take into account the impacts of its business decisions. As society progresses through the 21st century, it is clear that the people along with the government are beginning to demand more from companies. Quality products and services are still highly regarded; however, becoming a good corporate citizen is turning out to be an important part of a company’s reputation. Good corporate citizenship is ...view middle of the document...

Moreover, besides the appealing factor, being a good corporate citizen is purely healthier for all of society. If corporations conserve resources, choose to respect social and cultural values, and treat their employees well the community is more likely to respond with a positive attitude towards the company. This leads to a good mutual relationship between the company and customers and does not only satisfy the members of the community, but also creates good business for the corporation. An example of good corporate citizenship can be seen within the McDonalds organization. McDonalds is one of the biggest fast-food restaurants in the world and has been known for its energy efficient methods as well as the Ronald McDonald foundation (charity that helps kids all over the world). In addition, due to McDonald’s global presence, admiring cultural and social values of different countries becomes a main priority for this corporation. For example, all McDonalds in India sell lamb burgers instead of beef burgers as the cow is a sacred animal in the culture. Even if lamb meat is more expensive than beef, the ability to recognize the cultural values of India has not only pleased the Indian people, but has also been a big reason why McDonalds has had success in this country. If McDonalds decided to sell beef burgers in India, one can only imagine the ruckus it would cause against business. Another example of good corporate citizenship can be seen within Google Inc. This company has soared over the last decade and has become one of the most recognized companies in the world. In addition, Google is known for its informal corporate culture. For example, Google’s headquarters in Mountain View, California is referred to as the “Googleplex,” or one followed by a googol of zeros. The lobby is decorated with a piano, lava lamps, and a projection of search queries on the wall. Each employee has access to the corporate recreation center, which includes a workout room, locker rooms, a massage room, assorted video games, foosball, a pool table, ping pong, and various snacks and beverages. Furthermore, a motivation technique, usually called Innovation Time Off, encourages Google engineers to spend about one day a week on projects that interest them. All of these enticements along with Google’s environmental concern have given a great image to the corporation. Similar to these corporations, Bank of America has also managed to evolve into an outstanding corporate citizen.
In 1904, Amadeo Giannini founded the Bank of Italy, which later became the Bank of America, in San Francisco for the purpose of catering to immigrants other banks would not serve. With strong racial biases still existing, Giannini was heavily criticized for his decision to support minorities. His first break came when the 1906 earthquake struck San Francisco. Giannini was able to get all the deposits out of the bank and away from the fires while other San Francisco banks were unable to open their...

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