| Managers answer only to shareholders and act only with shareholders interests in mind. | | | c. | Managers are responsible to larger society, but serve it best by being responsible to shareholders. | | | d. | Managers answer to larger society and should serve larger society. | | | status: incorrect (0.0) correct: b your answer: a feedback: Incorrect. This is a description of the enlightened self-interest approach to social responsibility.
Kant says that people in business should act out of duty alone, not self-interest or desire to earn huge amounts of money. For example motivating bankers through huge bonuses would be wrong. Kant would also apply the categorical imperative, to derive the duty of a businessman. However, whether Kantian ethics is the best approach in comparison to theories such as utilitarianism is debatable. One issue surrounding business is the relationship of the business to the consumers.
As a C-corporation the business, not the owner, would be held liable for any financial damages. Any accidents involving employees or customers would be the responsibility of the corporation to settle. Financially speaking incorporating is the best option because as a sole proprietorship the owner is currently paying a much higher tax rate versus the corporate tax rate. With the tax code being different for corporations there is better profit retention and security. The client also mentioned the issue of partnership and the selling of stock in order to expand the company.
QBT Task 4 – Final Version 2 Robb Farrell Western Governors University Student ID# 000242903 THE REAL BOTTOM-LINE OF TODAY’S BUSINESS Research reveals that companies that focus on adhering to ethical standards and investing in socially responsible practices to the benefit of all stakeholders have a significant business advantage it today’s market place. Socially and ethically conscious originations have compelling business results in related to employee loyalty, company profits and consumer affinity. There was a time in our capitalist society that an organization’s number one priority and predominant focus was profits and shareholder interest. Indeed things have and are changing. In today’s market climate, companies have had to increase their consciousness as to what really matters.
Social Responsibility and Company Q Social Responsibility and Company Q Western Governors University Company Q believes that their responsibility is to the financial health of the company more so than any social responsibility to the communities in which they have stores. According to the textbook Business Ethics 2009 Update: Ethical Decision Making and Cases social responsibility is “defined as an organization's obligation to maximize its positive impact on stakeholders and to minimize its negative impact.” (Ferrell, 2013 p.38). By closing those two stores Company Q is showing their corporate focus on profit and not how important those two stores may have been to the communities in which they were located. The leadership of Company Q is so focused on revenue and its loss that they are overlooking how the positive impact of social responsibility could help them and their revenues.
6 Social Responsibility within Company Q Social Responsibility within Company Q Daniel R. Beckerman Western Governors University WGU Student #000322976 For any given business, the greatest potential for revenue growth can be found through a mix of focusing on providing for the shareholders, as well as thinking of the stakeholders as a whole. This means focusing past short term profits and creating a plan that demonstrates a measure of social responsibility. Business reputation goes a long way towards creating how large a company’s customer base is going to be, and giving the appearance of not caring about the community can lead to a loss of customers and a loss of additional revenue in the long run.
Ethical Perspectives: Friedman vs. Drucker, Murphy Geraldetta Lovelace Northcentral University Ethical Perspectives: Friedman vs. Drucker, Murphy A review of three articles written by Friedman, Drucker, and Murphy with differing views of business ethics is presented herein. A comparison and contrast of the views presented as well as this writers’ opinion, follows the review. The Social Responsibility of Business is to Increase its Profits by Milton Friedman (1970) In Friedman’s opinion, the purpose of a corporation is to make money for the owners of the corporation and to follow their directives. The term “social responsibility” when applied to a business is incongruous. According to Friedman, “Only people can have responsibilities.
CREATING SHARED VALUE Is CSV an attempt to legitimize bad business practices? According to the article “Contesting the Value of creating shared value”, in Michael Porter point of view, “CSV compliances with the law and ethical standards, as well as mitigating any harm caused by the business”. In fact, there is a viscous circle between business and society and companies have being seen as creating profits at the expense of the community, and not creating profits that automatically benefits the community. Because of that, the government has increasingly perceived business as a problem, as a source of bad practices in society and starts to regulate, to control the tax, so political leaders are unable to pursue business in friendly public policies because the political environment almost forced them to be tuff the business despite the fact that business and society need each other. There are many things that company can do that don’t involve the trade-off, and that’s what company should focus on.
(4-7 sentences. 3.0 points) 7. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society.
The services provided by welfare states differ from country to country, some have highly developed systems than others (Giddens, 2009). In most societies, poverty and social exclusion at the bottom are alleviated by the welfare states. This essay is therefore going to discuss how these welfare states use ideological state apparatus to secure legitimacy of continued inequalities in capitalist societies. Ideology can be defined as shared ideas or beliefs which serve to justify the interests of dominant groups” Giddens (1997:583). Its relationship to power is that it legitimizes the differential power that groups hold and as such it distorts the real situation that people find themselves in.