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Read to Learn

Read to Learn. Define what is meant by the social responsibility of business. Key Term. social responsibility. the duty to do what is best for the good of society. What are some examples of how companies can integrate social responsibility into all aspects of the business?.

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Read to Learn

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  1. Read to Learn • Define what is meant by the social responsibility of business.

  2. Key Term socialresponsibility the duty to do what is best for the good of society

  3. What are some examples of how companies can integrate social responsibility into all aspects of the business? GAP Inc. feels very strongly about social responsibility – www.gapinc.com

  4. Business and Social Responsibility The social responsibility of business takes into consideration all that a business does or does not do to solve the problems of society. social responsibility the duty to do what is best for the good of society

  5. Business and Social Responsibility Businesses that follow ethical standards value integrity and honesty in employees. Ethics are an integral part of their business practices. Some businesses are concerned about limiting the damage that they do to the environment.

  6. Businesses have several responsibilities… Responsibility toCustomers Responsibility toEmployees Responsibility Responsibility toSociety Responsibility toCreditors andOwners

  7. Responsibility to Customers Businesses should offer a good, safe product or service at a reasonable price. The Food and Drug Administration (FDA) is a federal government agency that protects consumers from dangerous or falsely advertised products.

  8. Responsibility to Customers Fair competition among businesses is necessary for a market economy.When companies conspire to restrict competition, consumers are affected. • When there is no competition, a businesses productivity decreases, limiting choices and increasing prices of products

  9. Responsibility to Customers The Federal Trade Commission (FTC) was created by the government to protect consumers from dangerous or falsely advertised products.

  10. Responsibility to Customers Companies also provide different resources and opportunities for the communities that they are in. A computer manufacture may provide computer recycling, donate computers to schools, and provide computer literacy workshops. GAP Inc. …

  11. Responsibility to Employees GAP Inc. … Businesses can show responsibility to employees in various ways. • Providing work experience for people with limited job skills • Volunteerism • Providing safe working conditions • Equal treatment • Fair pay

  12. Responsibility to Employees The Equal Pay Act requires that men and women be paid the same wages for doing equal work. The Americans with Disabilities Act bans discrimination against people with physical or mental disability. GAP Inc. …

  13. Responsibility to Society In 1970, the U.S. government created the Environmental Protection Agency (EPA). The EPA enforces rules that protect the environment and control pollution. GAP Inc. …

  14. Earth-Friendly Products Many beauty-product companies include mission statements regarding the environment in their advertising and on their labels. Origins, for one, promises to preserve the earth, animals, and the environment.

  15. Responsibility to Creditors and Owners The government passed the Sarbannes-Oxley Act to mandate truthful reporting. Sarbannes-Oxley makes the CEO of a business more accountable for the actions of the financial managers of a firm.

  16. How is producing a good or service a way of being socially responsible? Many products and services benefit society.

  17. What is the mission of the Food and Drug Administration? The FDA protects the quality and safety of the food and drugs in the marketplace.

  18. What is one of the biggest social issues that businesses face today? Environmental responsibility is one of the biggest issues.

  19. Corporate Social Responsibility Activity • Find a partner • Get a company – Fruit Machine • Go to the lab and do your research • Report back in 15 minutes • Discuss what was found

  20. Corporate Social Responsibility of Companies

  21. Corporate Social Responsibility of Companies

  22. End of

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