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Essay Available:
Pages:
3 pages/β‰ˆ825 words
Sources:
3 Sources
Style:
APA
Subject:
Communications & Media
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
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Topic:

Impact of Commercial Lending on the Society

Essay Instructions:

597 Communications Component: Writing Assignment 3 In your final assignment you will write a memo describing your how your company can have a positive impact on an issue facing society. This is a chance to suggest directions in thought leadership for your company that could set them apart from competitors. While it might be difficult to “solve” a problem, at minimum you can identify and use the company’s strengths to engage with the problem. As an example, see Tim Cook’s (CEO of Apple) article on the steps needed to protect consumer’s privacy: https://appleinsider.com/articles/19/01/17/tim-cook-renews-call-to-congressfor-federal-data-privacy-law-reforms-suggests-data-broker-clearinghouse Your proposal should examine an issue that needs a new approach. This issue can be specific to your field or can be one that has global impact (e.g. reducing the company’s carbon footprint, artificial intelligence/automation and its effect on society, creating a virtuous circle for recycling technology products, protecting online privacy). Develop your topic from your research (use at least 3 sources, 2 from 2021-2022). The expectation is that your suggestions will provide a stance for your company to generate further discussion in the industry. Suggested Structure 1. Summary paragraph of your proposed idea 2. Examination of issue and its impact, based on research (at least 3 sources) 3. Brief summary of thinking on the topic (to provide context and support for your proposed solutions). You need to read a few articles to learn about the main debates and challenges 4. Discussion of your suggestions (incorporating the information from your sources) 5. Closing paragraph that summarizes your proposal and shows benefit for company Final Elements • Include the Statement of Originality • Length: approximately two pages (roughly 700-1000 words), addressed to your supervisor, Jatinder Singh • Use memo formatting: informative headings, single-spaced short paragraphs, no indent on first line, skip a line between paragraphs • Provide citations for your sources. Use the format you prefer for referencing your sources and include a bibliography. You need 3 credible references (standard sources), 2 from 2021-2022. Contact your grading consultant if you have an issue turning in this assignment on time and request an extension (before the due date)

Essay Sample Content Preview:
Impact of Commercial Lending on the Society
Summary of the Proposed Idea
As an organization that deals with commercial lending, there are several positive impacts that the organization can have on society. Some things the organization can do to help society are to lower the interest rates so that companies can have a high return on investment. Many companies rely on banks for funding, but because of the high-interest rate, organizations take a long time before they can break even. The other proposal for leadership is helping youths in society that want to start a business with funds. Many young entrepreneurs may have business ideas but do not have funds for their businesses. As part of corporate social responsibility, the organization should help such young entrepreneurs. Finally, the organization should set aside funds that will be used to sponsor students from low-income families who cannot afford to go to college because of a lack of fees.
Examination of the Issues and Their Impact
For an organization to set itself apart from its competitors, it must work with the community and help them with their needs. Most businesses, small companies with little liquidity, rely on commercial loans to expand their business (Shah, 2021). Small businesses in the US are a significant driver of the economy because they employ thousands of people. Such companies need strong financial support that will help them grow and expand. Unfortunately, most loans offered to small businesses have a high-interest rate, which slows down the pace of growth (US Census Bureau, 2021). As an organization with experience lending money, the bank can work with small businesses to offer them financial advice and support when they offer them loans. Such support is vital because it will reduce the chances of the business collapsing. Such an arrangement is vital because it ensures a win-win scenario for both sides.
The other proposal to set the company aside from competitors while helping improve society is offering seed capital to startups. Only a tiny percentage of starting companies get funding from venture capital investors (Prohorovs & Bistrova, 2018). As a result, most companies that could have grown and employed many people end up failing due to a lack of funding. As a commercial lender, it can be beneficial for society to know that they can rely on the bank for funds when they have a business idea. Since the bank has the financial capacity to help entrepreneurs, there should be a special department where experts analyze any new business to determine its viability. If a new business is v...
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