Business and Society
Dr. Yvette Snowden
Business and Society
Description of the company and analysis of the various primary and secondary stakeholder groups, their roles, and relationships The company I have chosen is Third Federal Bank. Third Federal Bank specializes in providing banking needs for a wide range of customers and is characterized as a medium sized public corporation. The services provided by the company cater to the financial needs of nearly all business groups. The company currently employees nearly 2,000 employees and records an annual turnover of $330 million. The company shares a vision of acquiring the market leader status in financial industry by offering innovative and quality services and financial products. The bank also enjoys a sound corporate social responsibility by funding a foundation which caters to the health related needs of individual children, who do not possess medical and insurance coverage. The role of the stockholder is to exercise voting rights based on share ownership and to exercise their rights to inspect the company books and records, they have the power to have a negative or positive influence on the company (Phillips & Freeman, 2010). The relationship between the company and the creditors is that the creditors lend money to the company for working capital and collect payments of interest and principal from the company. The company’s creditors can have a negative influence on the company if it were to call in loans if payments are not made as arranged and utilized their legal authority to repossess or take over property in a severe delinquency situation. The relationship between the company and its suppliers is that they provide the supplies for example the service, energy, equipment, stationery and other supplies that are necessary for conducting business (Shonfield, 2001). The relationship between the company and its customers is very...
References: Anshen, M. (1980). Corporate strategies for social performance. New York: Macmillan.
Phillips, R., & Freeman, R. E. (2010). Stakeholders. Cheltenham: Edward Elgar.
Schwarz, P. J. (1970). Coalition bargaining. Ithaca: New York State School of Industrial and Labor Relations, Cornell University.
Shonfield, D. (2001). The stakeholders. Huddersfield: Central.
Wilke, H. A. M. (1985). Coalition formation. Amsterdam: North-Holland.
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