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The Relationship between Business and Society

The Relationship between Business and Society. Chapter 1. Society’s Expectations. Complex Not focusing on right and wrong Analysis of problems and issues from a variety of perspectives. Perspectives. Looking at a variety of perspectives Shareholders / Managers Employees Unions

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The Relationship between Business and Society

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  1. The Relationship between Business and Society Chapter 1

  2. Society’s Expectations • Complex • Not focusing on right and wrong • Analysis of problems and issues from a variety of perspectives

  3. Perspectives • Looking at a variety of perspectives • Shareholders / Managers • Employees • Unions • Government • Environmentalists • Media • Other businesses • Consumers

  4. Upcoming Terminology • Page 4, Chapter 1, Table 1.1 • Corporate Social Responsibility (CSR) • Corporate Sustainability (CS) • Triple-E (economic, ethical, and environmental) Bottom Line • Corporate Citizenship • Ethics of Business • Stakeholder

  5. The Canadian Business System

  6. The Canadian Business System • Economic system – use resources to meet needs • Capitalism – private ownership • Free enterprise system – competition • Laissez-faire capitalism – minimal government role

  7. The Canadian Business System • Responsible enterprise system – accountability • Stakeholder capitalism – Not just the bottom line • Mountain Equipment Coop • Pros to Capitalism • Freedom of choice, high productivity, high standard of living • Cons to Capitalism • Appalling working conditions, unsafe products, stock manipulation, misleading advertising, pollution

  8. Morality of Canadian Business • Diversity of business interests • Every industry operates and interacts very differently • Foreign ownership and influence • Each country has its own values and perspectives • Resource-based economy • Raw materials • Single industry towns • Fort McMurray (p.8, Everyday Ethics 1.3) • Importance of trade • Operate in a global economy

  9. Morality of Canadian Business • The influence of small business • Represent the majority of businesses • “Bigness” in the business system • Some industries are run by a few big players • Oil, pharmaceuticals, tobacco • Government presence • Larger in some industries over others • Has been decreasing

  10. Types of Businesses • Sole / Single Proprietorship • One owner • Partnership • Two or more owners • Corporation • Separate legal entity • Private or public

  11. Key Players

  12. Accountability and Morality • Key Players • Legally accountable • Society Expectations • Corporate Social Responsibility (CSR) • Media • Blood Diamond • The Corporation Documentary • Accountable to what?

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