Corporations Don't Care About You
Insider trading refers to the buying or selling of a security by an individual who has access to material nonpublic information about the security. Whether it is legal or not depends on the timing of the trade - it becomes illegal when material information remains nonpublic.
Profit over people
Should businesses be ashamed of striving for profit?
Businesses need not be ashamed of striving for profit as long as they don't harm the environment, mistreat employees, or deceive stakeholders. In fact, sustainability and employee welfare can be sources of competitive advantage.
Why do private companies give up profits?
Private companies give up some profits to achieve their social goals, such as reducing pollution, providing affordable medicines to people, and protecting their workers. This means that they sacrifice profits to support their social values.
Does modern corporate law require for-profit corporations to pursue profit?
According to the U.S. Supreme Court opinion in the recent Hobby Lobby case, modern corporate law does not require for-profit corporations to pursue profit at the expense of everything else. This statement contradicts the belief that corporations must maximize profits in all cases.
Do corporations have to maximize profits?
Although some Delaware cases mention maximizing shareholder value, The New York Times reported that Delaware (and other states) protects directors of corporations from reducing profits and share price when directors argue it will ultimately benefit the corporation through the business judgement rule. Thus, corporations don't have to maximize profits according to the article.
Greed and exploitation
Is corporate greed a threat to the environment?
Corporate greed is recognized as one of the biggest threats to the environment. Although individual psyches are easy to study, it is difficult to theorize corporate greed, which impedes climate activism. Polls indicate that Americans want laws in place to support climate action, suggesting that addressing corporate greed is crucial in the fight against climate change.
Is corporate greed psychotic?
In technical legal terms, corporate greed is not considered a psychological or moral impairment when corporate managers prioritize their fiduciary duty to maximize profits over ethical considerations. While some may argue that corporate greed is psychotic in nature, it's important to maintain a formal and unbiased tone and to avoid exaggeration or negative language when discussing this topic.
Will corporate greed be exacerbated by the tax cuts?
History suggests that corporate greed may worsen due to tax cuts. Income inequality and corporate greed are closely related.
How can I stop corporate greed?
A formal and expertise tone is required when answering how to stop corporate greed. Exaggeration and negative or bias statements are not recommended. Punctuation is required for each phrase, and conjunction words are not allowed.
Possessive adjectives and any writing rules must not be mentioned. To stop corporate greed, business school graduates should pressurize their universities to modify their curriculum and minimize emphasis on shareholder value doctrine. Individuals must hold elected officials accountable and vote for those who promise to curb corporate greed.
Regulations must be enforced to separate share price from executive/manager pay.
Poor working conditions
What are the effects of poor working conditions on employees?
Poor and unfavorable work conditions make employees lethargic and unmotivated, which hinders the overall growth of an organization. The office's outlook significantly boosts employee morale and makes them more productive. The following are some of the most common poor working conditions affecting employee productivity.
What is a poor workplace culture?
A poor workplace culture refers to various negative attributes in a workplace, such as a lack of healthy competition or motivation, workplace politics, harassment, high stress levels, lack of recognition for achievements, and discrimination based on factors like ethnicity and gender.
Can you refuse to work if your working conditions are bad?
If poor working conditions are affecting your health and safety, you have the right to refuse to work until your employer corrects the situation or until they confirm that there are no safety violations. This information was sourced from Textprompt, which also highlights the negative impact that poor working conditions and low employee benefits can have on employee productivity.
What are the different types of working conditions?
Working conditions cover a broad range of topics and issues such as working time, rest periods, work schedules, remuneration, physical conditions, and mental demands in the workplace. The International Labour Organization (ILO) monitors trends and developments in these areas.
Lower wages
Do low wages benefit employers at the expense of workers?
Low wages indeed benefit employers at the expense of workers, as well as taxpayers. According to economic policy coverage by Annie Lowrey at The Atlantic, the country's minimum wage being set so low results in a high cost for taxpayers, amounting to over $100 billion annually.
Why are lower-paid wage workers treated like ingrates?
Lower-paid wage workers are often treated like ingrates when they revolt against their meager wages, precarious jobs that expose them to potential Covid infection, and hostile workplaces filled with harassment, abuse, and disrespect. This bias against such workers reflects and reinforces the enormous income and power disparities that Covid has only further exposed and worsened.
Why Do So Many People Work Low Wage Jobs In America?
Almost half of workers in America earn low wages according to a deep analysis done by Brookings Institution. Nearly 44% of workers earn low wages in America with approximately a third of low-wage workers being paid below 150% of the federal poverty level. Median pay for these low-wage workers is roughly around $10.22/hr, and the stagnant wages are not really staying the same.
How does a low minimum wage affect the economy?
A low minimum wage, when combined with weak mandates for benefits and paid leave, difficulty in unionization, and general lax labor standards, benefits low-wage employers and harms both workers and taxpayers within the economy.
Fewer benefits
How do employers care for employees?
Employers can care for employees by offering employer-provided benefits, which can help in retaining employees and keeping motivation levels high. However, employees usually do not take full advantage of these benefits despite companies offering a range of them.
Why is it important to keep employees happy and well cared for?
Maintaining employee satisfaction and welfare is essential, as studies have confirmed that joyful employees are more productive, which enhances the overall workplace environment and company efficiency. Additionally, motivated personnel are less likely to depart, which helps maintain high retention rates.
What are the advantages of a corporation?
A corporation offers extensive asset liability protection to its owners, separating them from corporate debts and legal obligations even in the event of insufficient assets for repayment.
Should employers take care of employees' medical and dental needs?
Employers should take care of their employees' basic health needs including medical, dental, and vision as they are now considered as necessities instead of just benefits that could make employees content. This was emphasized by an expert in the field thereby highlighting the significance of these services to the overall employee satisfaction.
Job insecurity
What is job insecurity?
Job insecurity is the feeling that your job is unstable and there is a possibility of losing it in the near future, which can cause stress and anxiety and have significant impacts on mental and physical health. Contrarily, job security refers to the assurance that your job is safe.
Do you experience workplace insecurities?
Professionals may experience workplace insecurities at different times in their careers. These insecurities are generally temporary and identifying their root causes can help you address them effectively. A list of 10 common workplace insecurities and their solutions is available on Indeed.com.
Are private-sector jobs insecure?
Private-sector jobs are mostly insecure to some extent as they do not offer a guarantee of continued employment. The level of job insecurity may increase if an employee is working in an industry or role that is declining or for a financially struggling company.
Are You Suffering from job instability?
If you feel you may lose your job soon, you may be experiencing acute job instability. On the other hand, chronic job instability can be felt even when your company is doing well and you are receiving positive feedback from your employer. It is important to understand the effects of job insecurity and learn how to deal with it.
Lack of customer service
What happens if you don't take care of your customers?
If you don't take care of your customers, your competitor will. This can lead to dissatisfaction among customers and negative reviews spread through the internet. In fact, a single unhappy customer can reach up to 6,000 potential customers online, and bad service is more likely to be shared than good service experiences.
Therefore, it is crucial to provide good customer service and address any issues promptly to prevent losing customers to competitors. LiveAgent offers an academy to help businesses learn and apply best practices for customer service.
Why do companies fail to deliver great customer service?
Companies fail to deliver great customer service due to various reasons. One of the primary reasons is the lack of a defined service vision or initiative. This is where leadership comes in and outlines the service vision in clear terms at the top.
What are the causes of poor customer care?
The causes of poor customer care can be the result of a lack of effort and engagement from customer service agents, leading to a lack of emotional connections with customers. Additionally, employee burnout can also contribute to poor customer service.
Is bad customer service enough to switch to a new company?
Experiencing bad customer service even once is impactful enough for a customer to switch to a new company. It has the potential to impact brand loyalty, as customer loyalty is a significant predictor of a business's long-term sustainability due to durable loyal customers. Poor customer service has a direct effect on customer lifetime value (CLTV) since customers tend to leave a company after experiencing negative customer support. The article provides seven examples of bad customer service experiences and suggests ways to fix them.
Lower quality products
What is low quality and why is it important?
Low quality is a problem with a product or material that can cause manufacturing difficulties and lead to increased production time. It is important to address low quality in order to avoid rejected parts and negative impacts on business. This was discussed in an article titled "Why Low-Quality Plastic Products Are Killing Your Business".
What are the disadvantages of low-quality products?
Low-quality products can negatively affect your business as customers are unlikely to return. Additionally, negative word-of-mouth reviews can spread quickly through various online platforms.
Is the Quality of Products Made in China Really That Bad?
The demands of Western consumers remain the same as those of global consumers, seeking quality in all their purchases. While some may choose to prioritize lower prices when comparing products, it does not necessarily mean that consumers desire low quality. It would be misleading to make sweeping generalizations about consumer preferences. Let us refrain from negative biases and approach the topic objectively.
Does your product quality make or Break Your Business?
According to the article from PowerReviews, product quality can either make or break a business in today's market. If a brand or retailer neglects the importance of product quality, they are more likely to experience recurring problems that can negatively affect their reputation. The article lists four reasons why product quality is crucial for a business's success and offers solutions to improve it. Ultimately, a company's reputation precedes them, which means that maintaining high product quality is vital to the success of any business.
Insider trading
What is insider trading?
Insider trading refers to the buying or selling of a security by an individual who has access to material nonpublic information about the security. Whether it is legal or not depends on the timing of the trade - it becomes illegal when material information remains nonpublic.
Is it legal for company insiders to trade company stock?
Company insiders are allowed to engage in trading company stock legally as long as they report these trades to the SEC in a timely manner. This practice has been made possible by the Securities Exchange Act of 1934, which mandates the legal disclosure of all transactions involving company stock.
Should companies check insider trades?
Companies should implement checks on their insiders' trades to discourage insider trading and prevent potential investigations by regulators. Two levels of checks can be used to ensure the effectiveness of the practice.
What happens if you're convicted of insider trading?
If convicted of insider trading, punishment can range from a few months to over a decade behind bars, as per the Securities Exchange Act passed by the US Congress in 1934. Insider trading is a big problem and became illegal in the US to prevent the worst sustained decline in stocks in history.
