There are many reasons to treat company as good. Most important reason is corporate culture pubic and customer care, quality material and good management with profit.

The response of a company to its employees proves whether it is good or not.
Both client and employee satisfaction plays some sort of role in such case.

To be "good" is something that is subjective, however should meet metrics of what is the standard.
A good business is able to address the needs of the society, satisfactory services and products that makes customers satisfied and come back, employees who are well compensated and happy and HEALTHY in an environment which is with a happy and healthy atmosphere so there is negligible turnover of employees, offers training and growth for employees to be entrepreneurs or be financially secure, fringe benefits, pays obligations to the government (taxes, insurances, etc), wages that are commensurate to the labor done,equal treatment, reproducibility (franchising capable), sustainable, have good margin of profits, after sales service, Honest and with integrity..A good company survives and expands.
These are said than done, because sometime in business the balance tips off.

A Company is good and employee friendly only when it RESPECTS its employees, treat them as part of the organisation, is transparent with them. Rest of the things follow later.

Good has to include also its influence not only on business partners, but also society. Does the organization support the growth of the society. Everybody is benefiting, also stakeholders without a "seat on the table"? Does it offer a purpose for society and employees?

"A Good Company" is debatable however a good employer we can argue. I would prefer-

1. Respect - equal employer no biased based on gender or any other feature,
2. Good salary and perks. Best in market :)
3. Health and family benefits
4. Good work culture ( Flexi hours, WFH etc )
5. Learning opportunity - training and projects
6. Good vacation ( 3 to 4 weeks at least)

What is a Good Company?

A-The company with a growing and high stock price. 

Public refers to ownership of a share of the company being open to the public. This most often means that it is traded on a stock exchange and anyone willing to pay the price on the day can become a part owner of the company.

Any thoughts?