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The Relationship between Business and Society

The Relationship between Business and Society. Chapter 1. Society’s Expectations. Complex Not focusing on right and wrong Analysis of problems and issues from a variety of perspectives. Perspectives. Looking at a variety of perspectives Shareholders / Managers Employees Unions

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The Relationship between Business and Society

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  1. The Relationship between Business and Society

    Chapter 1
  2. Society’s Expectations Complex Not focusing on right and wrong Analysis of problems and issues from a variety of perspectives
  3. Perspectives Looking at a variety of perspectives Shareholders / Managers Employees Unions Government Environmentalists Media Other businesses Consumers
  4. Upcoming Terminology Page 4, Chapter 1, Table 1.1 Corporate Social Responsibility (CSR) Corporate Sustainability (CS) Triple-E (economic, ethical, and environmental) Bottom Line Corporate Citizenship Ethics of Business Stakeholder
  5. The Canadian Business System
  6. The Canadian Business System Economic system – use resources to meet needs Capitalism – private ownership Free enterprise system – competition Laissez-faire capitalism – minimal government role
  7. The Canadian Business System Responsible enterprise system – accountability Stakeholder capitalism – Not just the bottom line Mountain Equipment Coop Pros to Capitalism Freedom of choice, high productivity, high standard of living Cons to Capitalism Appalling working conditions, unsafe products, stock manipulation, misleading advertising, pollution
  8. Morality of Canadian Business Diversity of business interests Every industry operates and interacts very differently Foreign ownership and influence Each country has its own values and perspectives Resource-based economy Raw materials Single industry towns Fort McMurray (p.8, Everyday Ethics 1.3) Importance of trade Operate in a global economy
  9. Morality of Canadian Business The influence of small business Represent the majority of businesses “Bigness” in the business system Some industries are run by a few big players Oil, pharmaceuticals, tobacco Government presence Larger in some industries over others Has been decreasing
  10. Types of Businesses Sole / Single Proprietorship One owner Partnership Two or more owners Corporation Separate legal entity Private or public
  11. Key Players
  12. Accountability and Morality Key Players Legally accountable Society Expectations Corporate Social Responsibility (CSR) Media Blood Diamond The Corporation Documentary Accountable to what?
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