they conduct their business called the Social Responsibilities of Business. The four rules that companies have to follow are to maximize profits, moral minimum, stakeholder interest, and corporate citizenship. When businesses make decisions they need to keep their shareholders in mind. That is what the first theory of social responsibility, maximize profits, entails. Shareholders hold stock in the company and should be able to with confidence. Making decisions that affect profit in a negative way
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Harvard Business Review(2011)by M. Porter and R Kramer defines as, policies and operational practices that enhance the competitiveness of the company while transforming social problems which is related to the corporation into business opportunities and simultaneously yield greater profitability(Porter, Kramer,2011). As it sounds, it is a seductive promiseand has so far received obscene attention in the business markets and among business educators. Both authors seeks to regain trust in “business and
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principles of responsible commerce are really important for the development of our society, both in economic and culture areas. With the development of globalization, the competition among industries becomes more and more fierce. How to earn more profits with much lower operational cost has become every company's concern and pursuit. Unfortunately, in order to reach their profitable goal, many companies adopt illegal and immoral methods to conquer the market and maintain their market share. However
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1. Examine Apple’s current position on the company’s ethical and social responsibilities, and determine whether or not the company has met these responsibilities. Provide two (2) examples that support your position. Answer: Apple has accepted there ethical and social and ethical responsibility as it relates to health and safety standards. They have implemented health and safety standards that they expect their manufactures to follow. Their health and safety reforms include short work weeks, a
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capital is obtained for the future growth of our company. Currently, the industry leader in the R&D while leading in the industry trends identification. Our goals include improvement of employee satisfaction by 10-15%, lay ground work for share and profit gain, and reaching $50 million in operating income. Ensuring the product is environmentally safe and the best quality could help the company to become the innovative leaders in the market. We will develop a team that is focused on innovation and
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1. Describe the role of business in the economy. In any economy, businesses play a huge role. Businesses are the major provider of jobs and the major drivers of economic growth in a typical economy. Businesses obtain resources such as labor and equipment, and specialize in the production of particular goods and services. As a result of business in the economy, the variety, quality, and quantity of goods and services available to consumers increases, while the prices of goods and services decrease
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BTEC Higher National Diploma Assignment Cover Sheet Name(s) of Student Intake/Class 2014/ Course Title BTEC Higher National Diploma in Business (Management) Unit Title Unit 1 – Business Environment (L4) Assignment Title Assignment 1 (Individual) – Organization and Its Environment Assessor Henko Janse van Rensburg / Gregory Pit Date of Issue 20 March 2014 Date of Submission 27 April 2014 Declaration I/We hereby confirm that this assignment is my/our own work and
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Sizemore The Role of Ethics and Social Responsibility in Strategic Planning For most companies to be successful, companies must consider many ethical situations and many social responsibilities as critical parts, essential components of strategic plan. Ethical and social responsibility foundation must accommodate parts of the strategic process prior to decisions rather than following-profit decisions to receive the maximum benefit, e.g., corporate profits. The Role of Ethics in Strategic
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tactics at Apple Inc. 6 Conclusion 7 References Word Count: 2837 1 Executive Summary Corporate social responsibility (CSR) has been highly regarded by most corporations. However, the exact reason why corporations implement CSR initiatives is often very vague and confusing to others. This paper will explore in depth how international corporations are motivated to incorporate CSR into the business strategies and how they deal with it. Based on academic references, the report firstly outlined
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“Good corporate Governance as a vital constituent of Corporate Social Responsibility” with reference to Indian MNCs Type: Literature review Name of Research Scholar: Santosh Basavaraj, Research Scholar, Anna University of Technology, Coimbatore. Research Supervisor: Dr.B.Rajasekaran, Principal, RKKR School of Management Studies Ettimanickampatty, Coimbatore Road, SALEM – 637 504 Contact Number & Email ID:997209785,santosh_bs2001@yahoo.com Purpose: This research paper aims at
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