The underlying strategy of the firm is to lend a helping hand to the non-profit organizations. Their basic strategy is that although they are in business to be profitable, it is the way they perform business that truly defines them. The purpose of any strategy they implement at their firm is to realize a good opportunity which is beneficial to one and all and ultimately they provide the best services to their clients, the community in general, the stakeholders in particular and the society at large. Their strategies always include the management of conduct risk. A conduct risk is one in which there is scope of any unlawful, unethical, unjust or improper action or behaviour which has an extreme negative effect on the reputation and goodwill of the firm or any of its stakeholders, clients, markets or any other counterparts operating effectively with the Macquarie group.
To mitigate such risks and to implement their strategy effectively, the Macquarie group has appropriately implemented a Macquarie’s Conduct Risk Framework. This framework is used extensively to identify the risk appetite of the firm and identify clearly the conduct risks and material risks faced by the firm. The framework also defines in sufficient detail, the risks of the firm and how they should conduct business in a way that is profitable to them, their client and partners and yet the business risk is appropriately controlled and mitigated (Klettner, Clarke & Boersma, 2014).
The Macquarie Group is highly committed to their corporate social responsibilities. Their commitment level is unquestionable since they follow a strict code of conduct in all their practices and their ethics are highly revered and respected. They are highly committed to their three guiding principles and all their efforts and commitment are streamlining to their principles. They believe in identifying any opportunities that they come across to serve the community. They have been instrumental in various innovations and thought leadership programs with their sheer passion and commitment to work for the society (Finch, 2005).
The firm is totally committed to its endeavours. They are responsible and accountable for their deeds. They believe in the proverb which states that with great responsibility comes great accountability. Hence, they consider themselves fully responsible for their deeds that have an effect on the clients, the community, the shareholders and the people in general. They are fully committed and never compromise on their standards (Kahan & Rock, 2003). They make decisions that they are proud of and can be fully committed to. Also, every decision that comes from the firms’ stakeholders and leaders is put on record and their progress is monitored. The statistics also reveal that they are fully committed to their decisions.Their ultimate motivation is to realize opportunities which are beneficial to their clients, their shareholders and also the people in general. They have an underlying code of conduct which has three pillars of opportunity, accountability and integrity. They are highly committed to the three pillars of success at their bank. In fact, these are the motivational factors which result in success for the bank. Hence the need to address community needs has been the biggest motivation for the Macquarie Group to undertake corporate social responsibility activities.
The firm honours its promises and has always remained honest and fair. Working on high ethical standards and the quality of work delivered, they have earned a reputation of a high class firm. They are respected by one and all. They have worked hard and earned the trust of the community, its colleagues, its clients and even its shareholders (Garriga & Melé, 2004).
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