Essays on The Social Performance of the Company General Electric Case Study

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The paper 'The Social Performance of the Company General Electric' is a wonderful example of a Business Case Study. The recent economic crisis and debacles have highlighted the importance of corporate governance. Corporations in the twenty-first century are looking for the well being of the “ customers, employees, and community and shareholders” . (Silva, 2004) The framework followed by corporations looks into the issues of “ accountability, effective communication, and diversity of perspective” . (Mills, 1999) Many theories and rules have been framed to ensure that corporations adhere to social norms. The theories and models will help to ensure that “ there is effective monitoring, overseeing and evaluating the performance of the upper levels so that the management doesn’ t use it to their advantage but rather look into the well being of everyone” .

(Silva, 2004) General Electric has ensured that they work towards the well being of society. The social performances have ensured that they are able to able to deliver services that help to adhere to the requirements of governance. The company has a standard for measurement of the performance which has been transformed into designs to deliver services of high quality.

(Richman, 2009) General Electric has also ensured that they focus on society and shareholders (Woods, 2010) which has ensured that they are able to generate maximum leverage and use their focus to deliver on the promises made to the society. Working on delivering the governance to the society has ensured that General Electric has a continuous flow of labor (Greening & Turban, 2010) which is helping them to deliver products and ensure that the society is sought after. The company has followed a mechanism that has allowed them to deliver on the services and ensure that they contribute to society. Stakeholders General Electric has a responsibility to deliver services for every section of the society that is associated with the company.

The company on the whole is looking towards the wellbeing of the general masses and has a corporate governance norm to be followed to ensure that they are able to deliver on the promises made. The stakeholders for General Electric look as follows The “ business organization needs to see that the organization works for the well being of people associated with the organization and ensure that they're well being is looked after” .

(Hill & Jones, 1992) It shows that the corporation should make a decision that will improve the performance of the customer, community, employee, trade association, and everyone associated with the corporation. Thus it looks into various aspects and people associated with the company. This thereby ensures that decision taken affects all. The shareholders being the owner needs to ensure that the management i. e. the agent acting on behalf of the principal takes a decision which helps to see the well being of all and ensure that the policy of corporate governance is adhered to. The case against General Electric General Electric has delivered various products to the society which has done harm despite the benefit accrued from the product.

The invention of “ the light bulb, X-ray, the first U. S. jet engine” (Sheffer, 2010) has all added to the pollution levels thereby contaminating the earth and the environment. This has caused widespread harm and many cases have been filed as it has harmed the society to a certain extent.

References

Concoran B, 2010, “A greener and more open GE”, www.A greener–and_more_open–GE « Marc Gunther.htm (Accessed August 26, 2010)

Esther Q, Juan M & Garcia J, 2007, “Corporate Social Performance & Corporate Reputation: Two Interwoven perspective”, Corporate Reputation Review, 10, 60-72

Greening & Turban, 2010, “Corporate Social Performance as a competitive advantage in attracting quality workforce”, Sage Journals, 10 (2), 35-41

GE, 2010, “GE Service”, www.GECitizenship_Stories_BridgingtheGapsinHealthcareAccess.htm (Accessed August 26, 20100

Gonzales A, 2010, “New Research Results on trade off and synergy between social and financial performance”, Research Consultant, General Electric

Hill C & Jones T, 1992, “Stakeholder Agency Theory”, Journal of Management Studies, 24 (2), 191-205

Hart S & Milsten M, 2007, “The case of GE’s ecomagination initiative”, Value News Network

Immelt J, 2007, “General Electric release new corporate Citizenship report”, Ethics World, US

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Multinational Monitor, 2001, “US: The Case against General Electric”, Corp Watch, Holding Corporation Accountable s

Richman A, 2009, “The social Performance Standard”, Journal of American Planning Association, 45 (4), 448-458

Mills D, “The changing social contract in American Business”, European Management Journal, 14 (5), 451-456

Nicholson M, 1998, “Applying Agency Theory and the concept of corporate governance”, http://www.lotsofessays.com/viewpaper/1706098.html (Accessed August 26, 2010)

Silva M, 2004, “Corporate Governance in a turbulent world”, http://www.allbusiness.com/business-planning/business-structures-incorporation/866368-1.html (Accessed August 26, 2010)

Sheffer G, 2010, “General Electric Company”, www.ge.com (Accessed August 27, 2010)

Vreeland A, 2010, “Social Contract Theory”, Seasteading Institute

Woods T, 2010, “Measuring Corporate Social Performance: A review”, International Journal of Management Reviews, 12, 50-84

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