Principles of Management
Instructions
Part A Using your own words, briefly describe what social responsibility means to you personally. Social responsibility is when businesses should balance making profit while also keeping in mind the good of the environment. Do you think business organizations should be socially responsible? Provide two (2) supporting facts to justify your response. Do you think values-based management is just a "do-gooder" ploy? Provide one (1) supporting fact to justify your position. Part B To analyze the need to balance the interests of a variety of stakeholder groups, what questions should management ask? Provide four (4) questions. How do managers misuse discipline? Provide two (2) examples.
Answer
Business organizations obtain raw materials, and workforce from the society. They also sell their finished products to people living in the community. Therefore, they have a responsibility towards the society. In my opinion, Social responsibility is when a business organization balances activities that will bring profit and those that will benefit the community. Business organizations have a duty to act in the best interest of the society and the environment by developing business processes and policies that can build a positive relationship between the company and the society in which they operate. Social responsibility means going above and beyond the provisions of the law to help the environment and the community as a whole (Spence, 2016). For instance, if a business organization pays n...
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