GRE Issue Essay 224
“The only responsibility of corporate executives, provided they stay within the law, is to make as much money as possible for their companies.”
Companies which hire corporate executives at enormously large salaries and other incentives like insurance, conveyance, accommodation etc. apart from some share of the annual profits, have high expectation from their corporate executives. These corporate executives are supposed to draw higher and higher profits for the company to justify the heavy packages received by them.
The primary goal to be achieved by corporate executives is therefore made clear by the perks and facilities provided for them. They are employed to look into different aspects of sales of the products and their return benefits. Irrespective of the nature of products manufactured, imported or exported, corporate executives are there to give the maximum monetary benefits to their respective companies.
As the norms and rules set by the government are to be followed, ways and means to draw the maximum possible profits are to be devised without challenging the laws. The profits earned can be termed as personal profits because it is for the company’s growth and the promotion of corporate executives involved. The better part here is the inevitable economic growth of the nation, along with the more successful business deals of different corporate sectors. This in turn improves the economic standard of all the citizens in general.
Thus, the corporate and their business are directly related to the growth of the national and the global economy as well. Although, it is for personal benefit that the corporate executive works for, they inescapably share the responsibility of improving the living standards of people by providing job opportunities to them. Though, they may do business on their terms and conditions, they need the consent of the government over various policies and issues. Since, they utilize the resources and manpower of the nation; they ought to be responsible for the well being of their employees, customers as well as the nation as a whole. Corporate executives draw benefits of the contacts and policies formed by the government with other nations as well. Therefore, it is the liability of the corporate sectors and its top brass executives to pay back to the people of the country in turn of all the rights and authorities granted to them for the usage of various resources of the nation.
Generally, no corporate sector is fully self-financed. It starts a new project from money invested by people in the share market. The accountability of the corporate executives extends beyond their primary target of making huge profits. They are the ones who need to look into the means of sharing the profits among various investors. With them lies the responsibility of adopting the best policies for their employees, by gathering information from every successfully running industry. Corporate executives must come up with innovative ways of satisfying their customers and built a lasting good will rapport with them. An efficient corporate executive takes up the responsibility of lawfully bringing prosperity to his fellow men along with the prosperity of his company.
Hence, apart from minting money, corporate executives share the obligation of providing good service to all, thereby playing a significant role in the nation’s progress.