Barclays plc: Socially Responsible Corporate Behaviour Essay -- Busine

Barclays plc Socially Responsible Corporate BehaviourHow does Barclays plc commit its obligations to theirstakeholders in terms of honorable business practice and socially accountable corporate behaviour?According to The Institute of Business Ethics (cited in MORI, 2003),80% of the public believe that broad companies have a clean office to society but 61% also thought large companies dontcare. Why this shocking conclusion? payable to major accounting scandalssuch as Enron and WorldCom the publics government activity agency in organisationshave decreased. Why is there now an increasing film fororganisations to behave ethically and responsibly? Ethics is seen as a dodging of morals or rules of behaviour (Mullins 1999) meanwhilethe definition of corporate responsibility taken from Sims (2004) nominates that business behaviour that is likely to engender the trustand commitment of stakeholders towards the company. Changes inpeoples values and beliefs have also conduct to this dem and. Yet, to whatextent are organisations responding to the changing needs of society?For this analysis, the focus of this secrete will be centred on Barclaysplc and whether this company is fulfilling its ethical and socially prudent behaviour towards its stakeholders. In lodge to ascertainthe effectiveness of these policies and validity of their claims, umteendifferent sources will have to be taken into consideration. As expressby MORI (2003) Barclays is an international financial servicesgroup engaged mainly in banking, investment and asset management.It is one of the largest financial services group, direct in nearly70 countries and employing 74,800 people. How is Barclays able tosatisfy its miscellaneous stakeholders, considering its ample operations andthe intense scrutiny the financial sector has come under(a)?Stakeholders are individuals or groups who are affected by thegoals, operations or activities of the organisation (Mullins, 1999).Who are Barclays stakeholder s and what influence do they have?Barclays key stakeholders are their employees, customers,shareholders and the communities in which they operate. Below is atable adequate from Sims (2003, p41) showing what stakeholders expectfrom an organisation. To fulfil the purpose of this assigned thestakeholders of Barclays will be incorporated within the table.... ...r financialinstitutions lending money to Angola, a state of matter that has high human proficients violation.Overall, considering the current climate where many firms are facingincreasing public scrutiny Barclays is making progress in the rightdirection. They were once a bank that was making ethical gaffes to onethat has win awards for its policies. Barclays is an example of anethically engaged company, it has listened to criticisms faced in thepast and is exhausting to respond in a positive way. This was recognisedby the denomination of their 2004 report Behaving responsibly whichcontradicts their previous report about pu tting meshwork first. Moreneed to be accomplished at Barclays though they should state some oftheir policies more clearly (as in the case of the Angolan governmentand the support of oppressive regimes). Despite all this, there isevidence to extract that Barclays is doing as much as possible tosatisfy all its various stakeholders but more progress needs to bemade. In order to achieve their aim of becoming a leader in ethicaland socially responsible behaviour they just need to continue in thesame direction and respond to the changing needs of society.