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South Korea flagKyoungSeok
Please review my essay. “The most wickedest of men will do the most wickedest of things for the greatest good of everyone”, Keynes said. We have seen recent corporate scandals, It is time to ask ourselves the most fundamental of questions, whom and what is a business for. Most of companies have been focused on share price that they believe the way to maximize value of shareholders since two centuries ago. However, around 90% of the US and British people distrust that corporations look after their employees. Nowadays, many countries have made a partial amendment of the Commercial Code to prevent illegal benefits from firms’ fraud, but serious problem is that business’ culture has distorted in the countries. The purpose of a business does something that becomes the real justification for the business. Profit would be the means to that larger end. Even though Capitalism has lost it sheen, but the urgent need now is to retain the energy produced by the old model while remedying its flaws. If we follow the old business model, high-minded talent may start to shun it and governments restrict corporations, limiting their independence and regulating the smallest details of their operations and finally, we shall all be the losers. 2. Key points and Recommendations - Employees are NOT costs that should be minimized. o All we are precious assets of the corporation. That is one way of contribution to society where we live. o Our new lead should affect on every countries’ society that we are working for, because we are a multinational corporation. So we need to show that we don’t think our employees are costs. It will make our corporation differentiated from the others. - Good business are communities that are not owned with purposes o Don’t focus on only market share. Building a trust with communities is not only cost, but also a waste of our profits. Societies’ members have rights that we have to respect, because society consists of members and lots of members are called by society. o Trust of relationship between society and our corporation is the most valuable investment in our future. - Dividends should be paid to workers who contribute their skills as well as to those who have contributed their money. o Because contribution ethic has always been strong motivating force, we can make employees’ loyalty and show our win-win culture for employers, employees, shareholders and society.

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