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Busines and Society

In: Business and Management

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BUSINESS AND SOCIETY
INTRODUCTON
With increasing urgency, market and social forces are rewriting the roles and responsibilities of business as well as its strategies. Though the profit motive of business is understood and accepted, people do not accept it as an excuse for ignoring the basic norms, values, and standards of being a good citizen. Modern businesses are expected to be responsible towards the community resources working toward the growth and success of both their companies and their communities. Business ethics can be examined from various new perspectives, including the perspective of the employee, the commercial enterprise, and society as a whole. Very often, situations arise in which there is conflict between one or more of the parties, such that serving the interest of one party is a detriment to the other(s). For example, a particular outcome might be good for the employee, whereas, it would be bad for the company, society, or vice versa. Social responsibility of business ethics and consumer right are the influential aspects of the business and society relations. The social responsibility of businesses to the society’s interest and resource utilization is determinant to the business success. The Consumer right is the main components of the social responsibility of businesses in addition to other components needs special emphasis. The other general sector in business and society is the idea of consumerism and environmental movement, which is claim of collective right. Consumerism affects strategies of business in most powerful industries of the world. Environmental movements are highly attached to the consumer movements of the collective claim of right in the modern world business.

LEARNING OBJECTIVES

When you have been completed this unit you will be able to: * Understand the concept of ethics, business…...

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