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Social Responsibility

In: Business and Management

Submitted By GaoPu
Words 980
Pages 4
Fin 501 – 301
Week 3 Homework – [Analyst’s Dilemma] Gao Pu Using up to several paragraphs, describe to whom you think Amy owes her loyalty? Why? Amy owes her loyalty to Lori, Steven and the company. Amy owes her loyalty to Lori - her best friend – more than she does to Steven and the company. As Amy mentioned in her article: the loyalty and commitment that investment bankers, particularly analysts, feel toward their employers is difficult for many to understand. She lived, ate and breathed her work. And there exists almost a cult mentality in the company and loyalty is even more important than one’s health, family and friends. Personally I have never worked at an investment bank so I cannot even imagine the mentality, but I do understand them and I do think that is a very important reason why there are so many successful investment banks in the U.S., more than any other country in the world. I do understand it, but I do not agree with it. Does this mentality even sound right? Is it the right standard to begin with? I know there are people who do not put their friends, family, and their loved ones first, but, for a noble reason, like saving lives, freedom, etc. Though the loyalty and commitment to the company is crucial, is it really more important than the loyalty you have to your best friend? A best friend who would do anything for you? Amy mentioned the loyalty to career and employer was, with few exceptions, the first priority. If in this case, Lori could not be the exception, then what could be? Where to draw the line in the future and where is the turning back if Amy loses her loyalty to Lori this time? People might say that it is ok, just this one time, Lori would understand, you guys will still be best friends, everything will be the same. No it will not be the same. Damage has been done. You hurt one of the few most important people in your life, if you can do it once, you can to it twice, no matter how great of a friend you would be after this incident. So my advice is, do not even start something that will draw a line that is even lower than your old bottom line. Plus, Lori did tell Amy that it would put her in a difficult situation. Amy agreed, assuming that it must be a personal problem. She assumed, she did not know. This is her fault. She must keep her promise. Some might say that Amy agreed because Lori is her best friend and she wanted to help. Great, that means she had already made her choice – putting her best friend first. Amy also does owe her loyalty to Steven and the company because the nature of the work, the belief in the company and her relationship with her mentor Steven – a genuinely nice, normal person, an investment banker that is different and better than most. There is a Chinese saying: Though life is precious, love is even more so, if it was for freedom, I could let both go. I seriously doubt that one’s loyalty and commitment to his/her company and employer is on the same level of one’s loyalty to his/her loved ones. Certainly it is not even remotely comparable to what is mentioned in the saying.

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Fin 501 – 301
Week 3 Homework – [Analyst’s Dilemma] Gao Pu

With whom do you agree: Friedman and Rogers or Mackey? Using up to a couple paragraphs, defend your point of view. I strongly agree with Mackey. Apparently Mackey has a very successful business, Whole Foods. That means not only does he know how to make profit, he also understands how to use it and its role in the business’ social responsibility. There is a huge difference between Mackey’s argument and Friedman and Roger’s. As Mackey mentioned, they are thinking about business in entirely different ways. If I may add, in my opinion, they are thinking about life and the society in entirely different ways. Mackey thinks from a more ideal stand point of view. In other words, the model or the world he is trying to build is more advanced. It sets up an example, not necessarily a perfect one but certainly better than most, for other business to study. And I think what Mackey talked about in his argument transcends the concept of the small, narrow, limited business world. It also sets up a relatively higher standard for people. And he is not asking very much. He is just trying to make the point that we are supposed to care about others, we are supposed to think and do things for a greater good. That is in our nature. But somehow we tend to lose it in the process of building and developing business. It seems there is still no perfect solution to questions like this but I do believe in the future there will be more advanced and mature systems in which business can grow. Last but not least, the concept of “hiring the investors” is very important for Mackey’s success. Business is built on a set of ideas and principles. It can move on only after the ideas and principles are all agreed upon. Today, Whole Foods’ core business is still selling food and other high quality daily life products. But behind its success, there are ideas and belief that Mackey believes in, and eventually more and more people will shop there not because of the quality of the product (I doubt the quality of product of other similar business will be much different), but the ideas that Whole Foods is trying to spread. It might not be achievable right now but just like Mackey said, the ideas will triumph over time.

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