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1. Discuss the different obligations that businesses have towards their respective stakeholders (i.e. stockholders want businesses to turn a profit, consumers expect a good product at a fair price, etc.) 2. As a manager, do the different obligations discussed above sometimes conflict with each other? Explain. 3. What does it mean to be a whistleblower? 4. Define social responsibility. Does it cost money to have a social responsibility and/or corporate citizenship program? 5. Compare and contrast the two views of social responsibility (economic vs. socioeconomic).
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Answer basi ess ouner bring3 more ves Porsi bilitieS Being a tha n you mijkt magine. S takeholdert are the individual3 or grou)ps to choo ma business hal α res Pons blity. The Stakehold ers dt a business ar its emelojees, its costomes, tte eneral Roblic and its vestor ResPon Sibiitt to costomers To be Successtol in todays business environment a ComPany Satisty its customers A firm mst delivey what it Promises, awella be honest & forthright in everyday tnteractions6 ever ydey iateractio uit comers, goppliers & others Responi bility to Society business must alho te e s Ponsi ble to Sectety A business Pro vides a CommunityJobs goods, &跁rvices Res PonSi bi lity to employees → An organisations gesponsibili fy l sto Proui de au Job to employees. KeePing People emplo yed and le ting them ha y tke ve time to enj Can do for Soclety Com Panies Shoeld aso stive to Provide job secority henever Possible oold alzo strive to Providestakeholderample sPoni bi that stayeholder ghare ho lde E m ploy e e copplier cus tomers Grood Re turn on Tn vest meit RegohsT boisinegs & Pronm pmt Fair Pvice& Safe prodoC Pay LoCal community Jbs & minimum disroption GrvernmetEmplojment Por local communi fy EmPloyment tor lbcal Commun)ty E n vironment Less Polluton → SoCial ge sponsibility tor ore group arm Conflict re group Cam Cont ic with elkon grouPS, es peciely bet useen Shareholde rs and Sta ke holderS when ever decistong have to be made by a bosi ness t sisk stale holder conlictilais The Stoke holder-Thi oide rangtngTou intr d fee ling about how α bo SimS should be ron. Te needs d Sog enm byeesSurplers may be rather ditere avfal balance taill be d and chaslang a Gourse that Saliiesmost staleholdet can be ested Parties have difl eren eri e nee de di pAicultA cohistleblower ί, a ferhvn who exposes any kind infor maton activity that isl oke med illegal, un ethical, 8 nat coptect toithin an orga hi Zatton that is either private Poblic Those who become lohistleblowers Can hoin In lormation 2 alle gations to So Rae either in ter nally an eater nally. whistle -blo we ts however, take th isk n facing stiff 얹efrisa and retaliation Prom those sho ao accoSed B alleged rong doing A whistle bower cam file a lawsoit i or vegister a comelaint with higher authorits which will triger a Crimina invest jaton against he Con fany or any individual dePart ment Part- Ansuer Bocial ResPonsibilit Social Res Pongibihty meand hat induyiduak in dividua and ComPanjeS nterests do their Envi ronment &Socrety as a tohole. t afrlies to bosiness, i3 Enoson a Cor Porate Social neS Pon Sibility (cs)En general, Socral vtesPonSibity is more ellective (ohen a ComPahy taley it on vo luntarily, ol offosel tb being quired by government do So through ore golaton, Te businesses shoold Pay th spe oific Cost for Paying atention t, cwith stega rd CSR. Three cost ascociabd with csR actvities oPPortunity costs tinclu de any activily that cauld not have been Under aken due b capital& laboor being bound to th c5R activities, hick might resultin lot. we venueS Sunk Cost It include alo initial nvest ments io newegoi Pment Recurrents erameles ase oate oon Systems machine Quards → These are labour det, for increa/Xd ange vei aumenh, am Increaf in managmentPart -5/ Anwer Tuoo ontrasting PhilosophieS, B mode h, debine ange manage ment a titudes bowar d Social Ttes Pon5i bility He cconomic& the Socio eco nomic The economic modol d Secial Res Poni bi lity holds hat Societ y uill benefit more ohen bosine$s is lelt alone t Produce & may ket Pxofitable Produch to Society needs Th Cent rast, Sene manageny bele ve they halt he aes Ponsi bility not only t onalde but alko to Gustomers, emplbyees s. tle general Poblic. e Socio-eap mode Socidby The Se argomerh ate obviooy by on asbumttion thot le rimany objecve buSiness 1 to earn Profits, where ay gevt s Social institutions should del it Soc hal Problems

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