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Extra info for Promoting Corp Social Responsibility
Sample text
The Virginia Company of London had been organized in 1609 as a joint-stock enterprise. Even though it managed to sell shares to hundreds of investors, the costs of establishing a colony on the untamed coast of North America rose well beyond anyone’s expectations. In 1612 the company tried to resolve some of its problems by obtaining a new royal charter, the third issued to the group. In addition to approving some organizational changes, the charter permitted the company to hold one or more lotteries each year in several English cities.
Some of these societies also engaged in politics. Perhaps the best known examples were the urban workingmen who either converted their own organizations or joined companion groupings that became known as patriotic societies. The most famous of these, the Boston-based Sons of Liberty, took the lead in fomenting anti-British sentiments. These patriotic societies contained merchants, wage laborers, lawyers, shopkeepers, and artisans, all of whom recognized the benefits they enjoyed in the freer economic environment of the colonies.
They were quite advantageous to the colonists, however, because the ships they owned were considered British. These regulations stimulated an already vibrant shipbuilding industry in New England. Colonists who served as crew members on these ships were considered British as well, giving them an advantage in hiring. The disadvantage was that they could also be pressed into service on Royal Navy vessels during wartime. Indeed, the shipping restrictions to and from the colonies served a double purpose.
Promoting Corp Social Responsibility
by Anthony
4.3