Question

Respond to one of the two discussion questions. You’ll want to provide a thoughtful, 100+ word response for the discussion question that you select. Think of these as ‘essay questions’. In your response, clearly demonstrate an understanding of the concepts from the readings and lecture notes relating to the topics. Incorporate examples in your explanation that demonstrates your understanding the material.

Questions:

Describe the differences between compliance and integrity-based ethics. Include examples is your analysis.

Why is it importance for businesses to giving back to the community? Discuss the long-term economic benefits companies receive for their philanthropic activities.

Answer 1

Second question is taken for the discussion:

Community is one of the most important stakeholders when a business starts or continue the operations. It is the community that gets affected directly and indirectly from the operations pursued by the businesses. It can be negative externalities in the different forms such as pollution and or loss to the environment. But, the businesses have to perform while being in and around the community. Hence, it becomes very important for the businesses to give back to the community so that some aspects of issues are compensated by improving the lives of people in the community at other place. It is the basis of social responsibilities practices to be adopted by the many businesses where they spend money to improve the lives of people in different capacities in communities in different parts of the world.

In long term, these give backs to the community pay back to the business. It can be understood with the help of examples. On example is the opening of vocational training schools in the community by a business. It will make the people to learn different skills and become employable. It will make them get jobs and earn income. These income will also be spent on goods produced by the business. Now, community is paying back to the business and adds to the profitability of the business. Besides, a goodwill and reputation is also developed.

In another example, business sets a health care facility to give free treatment to the community. It increases the health of the people and their work life also increases. Some of these people also work for the businesses. It does an increase in productivity at the business and longer time of work, reducing the turnover rate. Further, it increases the demand and business increases the profit level. Hence, today's giving back to the community, will payback to the business in the long term.