Social Performance, Part 1

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  • Topic: Debt, Creditor, Credit
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Assignment 1: Social Performance, Part 1
Strayer University
Instructor Dr. Kenneth Elliott
Business and Society – BUS 475
January 30, 2013

Describe your company and analyze the various primary and secondary stakeholder groups, their roles, and relationships.

My company is medium-sized debt collection company named Evergreen Portfolio Management (EPM). The organization has several areas of specialty that focus on buying debt portfolios in bulk from first party creditors as well as acts as a servicer for larger companies and municipalities who may be unable to devote staff to collection efforts of default clients. The stigma of debt collection is not lost on the me as the CEO so I have decided to rebrand the company to align with our corporate citizenship initiatives starting with our motto by rewording it to say “Evergreen is committed to helping the community prosper by strengthening the financial portfolio collectively and enhancing the lives of entire community and all of our stakeholders through experience, compassion, and excellence.” We are dedicated to rebuilding the relationships between the creditors and debtors by offering multiple options for repayment of their financial obligations which will improve credit history and indirectly revitalize the economy through opening avenues for consumers to continue to spend money and businesses to continue lending money. To counter any innate negative feelings against debt collectors, our company has created a solid social performance standard aimed towards having an optimistic social impact while yielding positive financial returns for the company simultaneously. Our social focus and priority is to provide the community with free workshops and seminars geared towards educating low income individuals on how to protect the future of their families and setup a financial nest egg that will be adequate enough to supplement any planned and unplanned loss of income and prevent them from relying on government publically funded assistance programs. In addition to offering free debt analysis and education to the community, our company also has setup a foundation that will provide hundreds of thousands of dollars a year in scholarships of students in under privileged areas who wish to major in the financial field. The primary stakeholders directly affected by EPM’s social performance are the creditors, stockholders and employees. The relationships and roles vary between each one. The relationship between the company and the creditors is in essence guilt by association in relationship to our ethics and social standing in the community. Their role is to be one of our primary sources of income through payment on each account we are able to arrange payment on with a debtor. We handle their accounts as a third party collector which means we are an indirect representation of the creditor and their values. If we develop a bad name and an undesirable stigma it will reflect on the companies we work for and could cause communal backlash or investor relation issues for them because they are associated with our brand. The relationship between the company and the stockholders is realized through return on their investment. The role of the stockholder is to provide financial backing by investing their personal money to support growth for daily operation of the organization. Any kind of negative press affects stock prices and could cause a significant financial loss immediately or slowly over time. And lastly, the relationship between the company and the employees is multifaceted in that they are impacted by the company’s social standing if we are not viewed positively within our community, we lose business which in turn affects our revenue and has an effect on the benefits that are offered to them, the amount of money the company is able to pay them for their daily contributions, and their work environment. Their role is to serve as the liaison between the debtors and the...
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