Fannie Mae and "honest" company?

According to Jennings' , Fannie Mae was created as a different sort of business entity, a shareholder-owned corporation with a federal charter. m(Jennings, 2012, p. 121) Though, its' relationship to a federal entity seems enticing, is still is a business that is run by an individual or individuals. In no instance can we, forget that behind any business it is a person that is acting on behalf of the owner or owners. On the surface it appeared as if this organization had a purpose, which was to help those in need. However, what we discovered, is that it in fact acted in some sense as would any other business, which was to gain more cash flow. Like many other business Fannie Mae was rebuilt with the same structure as other Wall Street businesses. The shareholder-owned corporation had one responsibility and we have heard it all to often and it was to gain more access to the private market and ultimately, more cash. Though, Fannie Mae was once perceived as the most ethical company, they were also found to have fallacies like any other business entity. We can not assume that no individual or business is morally or 100 percent ethically correct. Ethics will continue to be a work in progress because there is still much that we do not know about the topic in general. By continuing to educate ourselves and the entire working population we will strive to be better. In conclusion, I do not think that Fannie Mae was an "honest" company. I think it was just like to rest unfortunately. Fannie Mae, once offered a sense of security but today you have to be just as reluctant as would any other mortgage company. References Jennings, M. (2012). Business ethics: Case studies and selected readings. 7th ed. Mason, OH South-Western Cengage Learning. ISBN: 9780538473538 Friedman, M. (1970). The social responsibility of business to increase its profits. New York Times, 32- 33, 122-124, 126 Homburg, C., Stierl, M., & Bornemann, T. (2013). Corporate Social Responsibility in Business-to-Business Markets: How Organizational Customers Account for Supplier Corporate Social Responsibility Engagement. Journal Of Marketing, 77(6), 54-72.

What is the difference between Entine and Jennings' eight questions and traditional measures of social responsibility?

The traditional measures of social responsibility have been somewhat a challenge that has been overlooked for the most part. Not until late, has this been a issue. However, Jennings and Entine discovered that there is a way to determine the soul of a company. In order to do so you can conduct an examination to look beyond political issues. Presuming that you fellow citizens are cognizant of social responsibility can be made in error. It is evident that there is lot that we are not aware of, in regards to preservation of the earth. For instance, years ago we didn't realize that global warming would become an issue. Not only has global warming become an issue, but we have recently learned that we have contributed to the issue. Furthermore, not only do we have obligations to our communities, but we should extend our appreciation to the earth that we live on. It is by far, all of our responsibility to protect and preserve our earth. Therefore, in spite of of work place obligations, there should be a more pressing or moral obligation. With that being said, our actions, motives and our obligations characterize and label us rather we are aware or not. Likewise, business decisions can effect you as well as the consumers you are marketing to. Your actions are indicative of the morals that you value. Therefore, your integrity will set you apart in most cases from your competitors. It is always a smart business move to conduct yourself in a manner conducive to being morally and ethically correct. In times past, it was not important to consider the effects of business decisions. Today, more companies are considering the political risk, environmental and social impact of business activities. Though, some have benefited financially, it only last for a short while. Meanwhile, if you do what is socially and legally correct you will not have to pay for your negligence in the long run. Therefore , appeasing stakeholder and business owners is not always an easy job. However, you must take a stance and do what is ethically correct as much as possible. References Jennings, M. (2012). Business ethics: Case studies and selected readings. 7th ed. Mason, OH South-Western Cengage Learning. Friedman, M. (1970). The social responsibility of business to increase its profits. New York Times, 32- 33, 122-124, 126

Assessing Corporate Responsibility

"Fair and just treatment in the workplace is an issue the company must face in making a decision for foreign outsourcing of labor." (Jennings, 2012, pg 91) Jon Entine and Marianne M. Jennings have opposing views as compared to those of Friedman and Freeman. First, according to Friedmans' view the social responsibility of business is to increase its profits. As far as he was concerned a individual can act according to his own desires because he is in fact separate and apart from the organization. Friedman suggested, that a corporation is an artificial person in a sense , therefore lacking responsibility as it were. Also, according to Friedman, in a free-enterprise, private-property system, the corporate executive or manager is only an employee thus, having primary responsibility only to it's employer, business owner and other stockholders within the organization. Basically his only interest it to that of the businessmen. Furthermore, Friedman implied that later on it will be the "iron fist of the government bureaucrats" that will be the external force to cause organizations to comply or to operate in a manner suitable to social responsibility. Freeman wanted to rejuvenate the idea of managerial capitalism by replacing the notion that managers have a duty only to the stockholder , but more importantly a more legally and ethical trusted relationship between the stockholders. In both cases, the dedication to the stockholder and maximizing profits was ideal. On the other hand, Jennings and Entine has eluded to the idea that organizations and businesses are more socially conscious. Therefore, are more compelled to do what is morally and socially proper. According, to Jennings and Entine companies are engaged with producing more "green" and sociable responsible products. Although, they suggest that no company can ever be ethically perfect, you can still make a determination by conducting examination of the soul of the company. References Jennings, M. (2012). Business ethics: Case studies and selected readings. 7th ed. Mason, OH South-Western Cengage Learning. Friedman, M. (1970). The social responsibility of business to increase its profits. New York Times, 32- 33, 122-124, 126 Kurbjeweit, Brian H. (2001). The relationship of ethics and law in governing the game of business. Journal of business ethics, vol 8 Issue 1, p55-62, 8p.