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TRANSAMERICA - Research Paper Example

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Buhmann, Roseberry & Morsing (2011) opined that mean the demand of business ethics and social responsibilities are increasing in the globalised businesses. Corporate social responsibility can be defined as the assessment of roles and responsibility of companies for their…
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Download file to see previous pages On the other hand, business ethics refers to the set of actions that are increasing control over the potential conflicts like corporate governance, corruption, insider trading and employee discrimination. In the current study, Transamerica Life Insurance Company is selected to outline the various aspects of CSR and ethics (Doyle, 2011).
Transamerica Corporation is having a prolonged history of controlling different life insurance and investment firms. The American company is having different entities in around the world. Amadeo Giannini established the organization in the year 1904 with the help of the ‘Bank of Italy’ and used the name of ‘San Francisco saloon’. Actually, his aim was to provide financial services more easily so that maximum number of people can use products. He started to provide financial support to different person from the year 1906. Giannini started with a temporary bank in the San Francisco docks area, which provides industrial, contractual loans very easily (Transamerica.com, 2015c).
In the year 1928, new strategy adopted by Giannini as his organization merged with ‘Bank of America’. In the year 1930, the “Transamerica Corporation acquired the Occidental Life Insurance Company” (Transamerica.com, 2015b). Moreover, in the year 1956, management of the firm separated the banking and life insurance businesses segment as the Transamerica. San Francisco skyline was launched after Transamerica was launched (Transamerica.com, 2015b).
During the two decades 1960 to 1980, the organization has faced huge challenge. Transamerica gained higher interests among the global financial market with the help of inventiveness and acquisition. They started providing various life insurance and financial services to the normal and institutional clients. Their major clients are like “motion picture distributor United Artists, Trans International Airlines and Budget Rent A Car” (Transamerica.com, 2015a).
During the year 1980, ...Download file to see next pagesRead More
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