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Business & Society

Business & Society. Mr. Johnson. Objectives. Define Social Responsibility Evaluate the types of Social Responsibility Identify the Receivers of Social Responsibility Identify the categories of business serving society today. Objective A. Define Social Responsibility. BUSINESS & SOCIETY.

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Business & Society

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  1. Business & Society Mr. Johnson

  2. Objectives • Define Social Responsibility • Evaluate the types of Social Responsibility • Identify the Receivers of Social Responsibility • Identify the categories of business serving society today

  3. Objective A • Define Social Responsibility

  4. BUSINESS & SOCIETY In order to SUCCEED Maximizing Profits & Contributing to Public Interests MUST

  5. SOCIAL RESPONSIBILITY • The DUTY of business to CONTRIBUTE to the WELL-BEING of SOCIETY DUTY – moral obligation – a service designed or demanded of someone – an act or course of action that is required of someone/thing in that position Contribute – share responsibility – to give or supply in common with others Well-Being – state of being healthy, happy or prosperous Society – our town/city/county/state/region/country

  6. Objective B • Evaluate the types of Social Responsibility

  7. Minding the Store • Quality products • Competitive prices • Customer needs • Minimum costs • Minimum expenses • MAXIMIZE THEIR PROFITS

  8. Contributing to Public Interests • Why • Creates Goodwill • Foster’s positive image for company • Examples • Scholarships • PGA Tour Drive to $ 1 Billion • Corporate Sponsorship of Art, Education, Research

  9. Why Be Socially Responsible • All businesses have an impact on society • All businesses should try to maximize their profits • Some businesses have added responsibility due to the type of business they are • Automobile Companies • Emission Controls • Gas Mileage

  10. Objective C Identify the Receivers of Social Responsibility

  11. To Whom are Businesses Socially Responsible to? • Product Purchasers • Must offer safe quality products • Must conduct research, in order to develop quality, safe, desired products • Stakeholders in Business • Stock Holders • Maximize Profits & Return on Investment

  12. To Whom are Businesses Socially Responsible to? • Stakeholders in Business • Employee’s • Safety Concerns • Is work challenging • Is work satisfying • Does employer contribute to the well being of employees

  13. To Whom are Businesses Socially Responsible to? • How Businesses Provide for Overall Well – Being of Employees • Counseling • Day – Care centers for workers • Career Planning • Retirement Planning • Flex Scheduling • Training

  14. To Whom are Businesses Socially Responsible to? • The Company itself • Maximize profits so company can grow & prosper • Assist Company owners make as much as possible on their investment

  15. Objective D • Identify the categories of business serving society today

  16. Types of Businesses Operating in society today • Producers • Trade Industries • Service Businesses

  17. Producers • Def: Someone that makes or produces things • Types • Raw Goods • Farmers • Miners • Lumber Jacks

  18. Producers, Con’t • Manufacturers • Def: Producers who change the shapes or forms of materials so that they be useful to consumers • Exp: • Cars • Glass Blower • Paper Industry

  19. Producer’s, con’t • Builders • Producers who construct roads, bridges, buildings, or houses

  20. Trade Industry’s • Def: Businesses that buy & sell goods to each other • Firms do not change / alter form of good in the process • Two types • Wholesaler • Retailer

  21. Trade Industry’s, con’t • Wholesalers • Middle man between producing company & retailer • Examples: • Queen City Wholesale • Pepsi • Coca - Cola

  22. Retailer’s Def: Sell to end Users of product Examples: JC Penney’s Target Wal Mart Starbucks Trade Industry’s, con’t

  23. Evolution of Retail Business • Size • 80 % operate with less than 20 employees • Variety of Products • Super Wal – Marts • Super Target’s • Prices • Lowest Price (reflected in image of store) • High – End Price (reflected in image of store)

  24. Evolution of Retail Business, (con’t) • Ownership • Sole Proprietor • Partnership • Owned by two or more people • Franchises • Corporations • Have stock holders

  25. Evolution of Retail Business, (con’t) • Delivery of Product • Brick & Mortor Store • Over Phone • In customer’s home • By mail • Vending Machine • On street corners • By computer

  26. Trade Industry’s • Service Business • Sell intangible activities • Customers buy service not goods • No title / ownership / good passes to customer • Classifications • Housing • Household Operations • Recreation • Personal Care

  27. Trade Industry’s • Classification’s (con’t) • Medical & Health Care • Private Education • Business Services • Insurance & Financial • Transportation • Communications • 75 % of non – farm labor employed in service industry

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