Lesson 4 Social Responsibilities of Business You know that business is an economic activity‚ which is carried out on a regular basis to earn profit. However‚ you must have seen businessmen spending money on different aspects‚ which is not going to give them any profit straightway. For example‚ you must have seen businessmen maintaining and developing gardens and parks on streets and squares in cities. Some businessmen engage themselves in research for improving the quality of products; some
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Ethical Issues Encountered by Red Bull Red Bull has successfully implemented marketing strategies to appeal to their target market‚ mainly young consumers‚ throughout the world. This product is popular globably‚ and is sold in bars‚ night clubs and supermarkets. Red Bull may claim to “give you wings” but drinking too much of the popular energy drink may also lead to heart damage‚ as study suggests. Red Bull has repeatidly denied that their product is not dangerous and hazardous to the body. In
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organization who are known to abide by the legal and ethical standards of the industry must have oversight over the program” (Ferrell‚ Fraedrich‚ & Ferrell‚ 2015 p. 114). Currently‚ the American Red Cross (ARC) has sighted major issues with the APC practices of collecting blood donations (Strom‚ 2008). Furthermore‚ Eric Blumberg‚ the FDA’s deputy general counsel‚ stated “if fear is a motivator‚ we’re happy to help out in that way”- when he attend a closed Red Cross
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The American Red Cross exists to prevent and alleviate human suffering in the face of emergencies by mobilizing the power of volunteers and the generosity of donors. Through its strong network of volunteers‚ donors and partners‚ is always available in any time of need
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Social Responsibility Theory To combat the pressures that threatened freedom of the press‚ this theory was first introduced in 1947 and was recommended by the Hutchins Commission on Freedom of the Press. It stated that the media should serve the public‚ and in order to do so‚ should remain free of government interference. It defined guidelines that the media should follow in order to fulfill its obligation of serving the public. Ethics and the Media The Social Responsibility Theory claimed
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Corporate social responsibility is a business philosophy that stresses the importance of keeping the best interests of the wider society in mind. The World Business Council for Sustainable Development in its publication Making Good Business Sense by Lord Holme and Richard Watts‚ used the following definition. ‘Corporate Social Responsibility is the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce
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Corporate social responsibility (CSR) is the framework proposed by Carroll (1991) to provide managers with a way to evaluate their duties to the myriad groups with interests in their organizations. These groups are defined as stakeholders and include owners‚ customers‚ employees‚ the community‚ competitors‚ suppliers‚ social activist groups‚ the public and potentially others. According to Carroll (1991)‚ the framework of CSR can be divided into four parts encompassing “the entire spectrum of business
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Topic: Ethics and Social Responsibility ·Ethics are an individual belief system that consists of knowing what is right and wrong. - ethics are talked about frequently and addressed in the news when unethical decision are found. Sadly‚ people do not hear about ethics when others are engaging in ethical behavior on a daily basis. - Keep in mind that things that are not illegal may be unethical. - Ethics can vary person to person. - Ethics is in part analyzing decision‚ beliefs‚ and actions
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I asked myself‚ “what can I do to make an impact on my community?”. That is when I founded my high school’s Red Cross Club. We aimed to push the vision-mission‚ “to alleviate human suffering through volunteering and donations” to the student body to make a change in our community. I initially started with only three other members‚ however‚ we bolstered our ranks by over 20+ members in two weeks. Balancing 7 AP and
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provides. Examine Nordstrom’s current corporate social responsibility activities‚ and suggest one (1) additional action that the company could take to further strengthen its corporate social responsibility efforts. Two reasons why people value the customer service that Nordstorm provides. 1. With the recent downturn of the economy‚ some people can relate more to the needs of others. This has change the outlook of most when it comes to community service or giving back. It seems that people get
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