Jeffery D Whippo Shares His Views on Community Expectations of Businesses

1. Jeffery D Whippo Shares His Views on Community Expectations of Businesses Jeffery D Whippo is an experienced educator and business leadership professional who says that businesses are no longer looked at as stand-alone economic institutions which exist solely responsible to their stockholders. Today, businesses are expected to be a helping force within the communities that they reside increasing the responsibility of the corporation to include society as an additional stakeholder to be accountable to. Jeffery D Whippo explains that society is demanding safer and fairer financial systems. Banks have a responsibility to their community stakeholders for minimizing risk and fairly managing interest rates for their lenders. The implementation of policies and best practices that minimize financial risk are extremely important responsibilities that banks have to the communities in which they operate in. A well-functioning financial system is a key to prosperity and promotes economic growth within the community. Medical groups, for example, must now focus on not only providing clinical service to their customers, but must do so in a way that has a positive impact on the community in which they serve. Not only should the clinicians within the medical group make sure that their conduct at all times justifies their patient’s trust in them, but their conduct clinically, economically and socially should ensure the public’s trust in the profession as well. Economically, medical groups must ensure that the costs to their customers are contained. Jeffery D Whippo further comments that companies that manufacture cyclical goods also have responsibilities to the communities in which they operate in. These manufacturing companies must continuously examine and serve the interests of its societal stakeholders. Huge positive impacts to the local communities can be made by ensuring that they cooperate with the labor and promote diversity. Not only can these companies have an environmental impact

2. on their communities by providing jobs, they can also have an impact by sponsoring community activities and improvements, like urban renewal and development programs. Companies must follow safe environmental practices for pollution abatement and conservation for keeping the community safe. In terms of overall community involvement, Dr. Jeffery Whippo concludes that it doesn’t matter whether you are running a medical group, a bank, or a large manufacturing company; you must support your local community. Companies should look for opportunities to contribute to their local environments from anything to funding parks, recreation or cultural centers, to just providing activities for bringing the community together.