Sustainable Stakeholder Capitalism Essay Example | Topics and Well Written Essays - 500 words

Sustainable Stakeholder Capitalism - Essay Example This is because employing macro level practical reforms will create a systematic integrity in the financial institutions across the globe. This is essential because it will contribute to responsible risk management for the SSC in the present and future. One of the factors that contributed to unethical economic environment of the Great Global Recession is unregulated capitalism. Unregulated capitalism in the field of economics is one of the risk factors contributing to economic crisis. Petrick argue that the irrational market actors whose aim is to fulfill their self-interest and their unethical behaviors employed in accumulating wealth can be one of the challenges to the economy of a state. This is because it creates economic imbalances in a country and this contributes to other associated problem such as poor resource distribution in an economy. The capitalism nature and ineffective managerial education contributed to the global recession; thus non-market and market stakeholders were unable to prevent capitalism. Secondly, poor market-based regulatory solutions in the global economy contributed to economic crisis. The ineffective fiscal and monetary policies failed to reignite residential investments; thus contributed to financial crisis. The government employs poor fiscal policy in regulation of business activities. Moreover, the unregulated marketing principles contributed to poor price determination in many entities. The managers employed poor managerial theories and practices that affected the marketing activities. For instance, the Wall Street banking and other financial banks employed speculative risks that affected the investors. Lastly, overuse of resources due to need of increasing wealth, and this contributed to resource depletion. The resource overuse resulted due to managerial competences whereby many actors wanted to expand and