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JPMorgan Chase
A bank who care about the society and human rights, this is what JPMorgan does. JPMorgan exist for more than 200 years and it is one of the largest bank in the world who employs about 260, 000 employees in 60 countries (JPMorgan Chase & Co, 2015). Their priority is not only to make profit but they also care about the society and their background. The goal of JPMorgan is to become one of the best financial services company in the world (JPMorgan Chase & Co, 2015). JPMorgan serves all sort of customers such as government, wealthy individual and institutional investors (JPMorgan Chase & Co, 2015). They are one of the companies who satisfy and keep satisfying shareholders, customer, and communities. Human rights is one aspect that JPMorgan respect and give attention to. This essay will examine how JPMorgan can have a positive and also a negative effect on human rights.
Human Right for JPMorgan
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JPMorgan form parts of the three founders of the Carbon principles, which is a guidelines to help bank to access risks in supporting electric power projects concerning climate change (JPMorgan Chase & Co, 2015). When considering human rights, JPMorgan takes care of the principles, policies and code of conduct. Human right is for everyone, not only customer. JPMorgan respects there employees, that’s one of the reason why they are one of the best bank in the world. JPMorgan think that the government of each country should protect human right, including the security and the safety of their citizens (JPMorgan Chase & Co, 2015). JPMorgan Chase think that they can help by making people aware of human right, they consider that they can “play a constructive role” by their actions (JPMorgan Chase & Co,
One year ago, on September 8, 2016 the Consumer Financial Protection Bureau(CFPB), the Los Angeles City Attorney and the Office of the Comptroller of the Currency (OCC) fined Wells Fargo Bank $185 million, alleging that more than 2 million bank accounts or credit cards were opened or applied for without customers' knowledge or permission between May 2011 and July 2015. This essay will discuss the Wells Fargo scandal by explaining how the event happened and describing how the organization approached handling a response to the crisis. This will be seen, firstly by describing the how the scandal happened, and what were the causes, secondly by discussing the reaction of the company in front of the situation, how they dealt with the crisis and then
After the time of financial crisis, JP Morgan was not the only national bank in US which got involved in trade of toxic loans related to mortgage. Before JP Morgan, it was Goldman Sachs-another large US Bank that faced the allegation of manipulating the trades in its own self interes, ended up in favor of SEC while GoldMan Sachs were asked to pay $500 Million during late 2011 in a deal called Abascus 2007-AC1 where the bank were alleged to mislead its investors on a deal related to Collateral Debt Obligation(CDO). (Eaglesham, 2011) The ab...
Corporate crime has become increasingly common over the past couple of decades. It seems that every big corporation today has some type of dark side. With the constant trials against corporate officials it seems that many high profile companies can no longer be trusted. We can no longer look at our banks the same either; JPMorgan Chase in the recent two years can be added to corporate crime list. They have committed crimes against its costumers and the government by rigging their bids for investments for years, improper home insurance rates, and overcharging military veterns. From this they stole millions of dollars to put in their pockets. What makes this case interesting is that Chase is one of the top banks in this country. Millions of Americans trust this bank with their life savings it turns out they trusted their money with criminals.
For Chase bank the mission and vision should always be clear to their customers. "At JPMorgan Ch...
From big financial and ethical scandals like Enron to WorldCom, Wells Fargo may be the next big financial and ethical scandal. Wells Fargo is one of the leading banks and credit lending companies in America. Now, they’re on a slippery slope downhill to one of the worst—and most unethical—banking and credit lending companies in America, maybe even in the world. Wells Fargo has been in an ethical uproar, has questionable ethical values, and questionable principles and practices in culture due to their downhill ethical standards. The company may have been influenced by bad stakeholder judgment, and are now struggling to maintain the company’s culture.
Jake Clawson Ethical Communication Assignment 2/13/2014. JPMorgan Chase, Bailouts, and Ethics “Too big to fail” is a theory that suggests some financial institutions are so large and so powerful that their failure would be disastrous to the local and global economy, and therefore must be assisted by the government when struggles arise. Supporters of this idea argue that there are some institutions that are so important that they should be the recipients of beneficial financial and economic policies from government. On the other hand, opponents express that one of the main problems that may arise is moral hazard, where a firm that receives gains from these advantageous policies will seek to profit by it, purposely taking positions that are high-risk, high-return, because they are able to leverage these risks based on their given policy. Critics see the theory as counter-productive, and that banks and financial institutions should be left to fail if their risk management is not effective.
During the 19th century robber barons were at an all-time high; one important robber barons was J.P Morgan owner of J.P Morgan & Co. Soon after he died his son J.P Morgan Jr. who worked at and inherited the company became a robber baron himself. Both men did different things that changed business and our nation today.
Maus is a graphic memoir by Art Spiegelman, about a father, Vladek, survivor of the Holocaust and a son, Arty, who wants to know what was it like living during the Holocaust era. During the holocaust years, Vladek was advised by a rabbi that his tattooed number will bring him luck. Throughout the story, he continues to personify the luck his number represents by being persistent and hardworking. Despite suffering starvation, thirst, and not feeling well, Vladek continues to remain humble by helping his fellow inmates. Many years passed after the war ended, Vladek was portrayed as this conservative man, but there was a reason behind that mask. Vladek did not want people to step over him like he was stepped on before; he wanted to teach Arty
When I found out I qualified to be a candidate for the NJHS, I knew I had to take this chance. This group is made up of people who depict leadership, character, citizenship, academic success, and service and I would love to join. These characteristics wouldn't just be valuable for a candidate to have, but for everyone to have to exceed in life. If I were to be in the National Junior Honor Society, it would give me an opportunity to ameliorate my future and motivate me to do better.
This concern of integrity and organizations like Wells Fargo to do what is right stems from our personal ethical framework. We all have one which helps us decide what is right and what is wrong. It is this decision that is a concern for organizations that must be managed on a day to day basis. Company’s such as Wells Fargo are so big that bad ethical behavior may be overlooked and not dealt with until the damage has already been done. Other organizations need to learn from Wells Fargo and start addressing their own organization ethical framework. This would include the organizational culture, business strategies, employee ethics concerns and the overall ethics and decision-making
There is a big problem nowadays that all countries, regardless of religion, culture or governmental system, are facing, and that is human rights. Human rights are moral principals that set out certain standards of human behaviour and are regularly protected as legal rights in national and international law.
“Human rights are not worthy of the name if they do not protect the people we don’t like as those we do”, said Trevor Phillips, a British writer, broadcaster and former politician. Since the day of human civilization and human rights are found. No one can argue against the idea that God created us equal, but this idea have been well understood and known after the appearance of many associations that fight for human rights as The Universal Declaration of Human Rights (UDHR) that showed up in 1948. Human rights are those rights that every person, without exceptions, is born with. They are the most important human basic needs because no one can live a decent appropriate life without having those rights as a human. In fact, these rights
As the economic grows rapidly, market has occupied our life, and has become impartible with market. Whereas, market has become more and more influential and wild coveraged. Since almost everything in daily life could be labeled with a price for commercial purpose, market brings us not only the positive impact like it makes our life much more convenient and connected, but also some implicit impact that gradually influences us in the negative ways. While some of the market ways even violate basic human rights. Since United Nations publish the “Universal Declaration of Human Rights”, it stated basic rights for every human being that can not be violated no matter what. But as market grows stronger and more influential day by day, it somehow gives negative impact to human and encroaches some of the human rights, even the market did not cause it purposely.
Goldman Sachs: Greed over Ethics? Goldman Sachs is one of the biggest investment banks in the world. It is also probably the most controversial one. The American banking crisis in 2008 had not only affected the US economy, but its impact was felt worldwide. However, ironically enough, investment banks like Goldman Sachs which were responsible for the crisis ended up making lot of money out of it.
Maxis Software was founded in 1987 by Will Wright and Jeff Braun in order to publish SimCity on home computers because SimCity didn't have a publisher for the PC or Mac due to developers doubting that the game could be a success (Keighley, n.d.). In 1989, Wright and Braun made an agreement with Broderbund to co-publish SimCity, but the game did not take off until after a couple months and because of the word-of-mouth praise, which included a full-page article by Time magazine (Keighley, n.d.). SimCity was a massive success, but Maxis struggled to release another hit game as they tried various other Sim- titles which included: SimAnt, SimFarm, SimEarth, SimLife, SimTower, SimIsle and SimHealth (IGN, n.d.). Wright did not originally want to design