What I Would Be A Business

Lawrence, Anne (2010). Business and Society: Stakeholders, Ethics, Public Policy. 13th Edition. McGraw-Hill Learning Solutions, 2010. VitalBook file. Bookshelf.

Many believe that business entities should have an ethical duty to be socially responsible, to work towards increasing its positive effects on society while decreasing its negative effects. Many organizations look for opportunities to be socially responsible while also creating shareholder wealth.

6) Pricing- Setting prices is a critical decision in implementing a retail strategy because prices are a critical component in customers’ perceived value. In setting prices, retailers consider the price sensitivity of customers in their target market, the cost of the merchandise and services offered competitive prices and legal restrictions.

Equity is a branch of law, founded in justice and fair dealing, which seeks to supply a remedy when no adequate remedy at law is available.

Listening to Michael Porter speak about the reason why business can be good at solving social problems, the one thing that stuck out for me in his monologue was that business profits from causing social problems. In his view, it is conventional wisdom that business is the problem and the solution is to change how business sees itself. Training, clean drinking water, protection of forests and other good things that bring good to us as a human race, they are the solution to the social problems and can be reached by understanding that when these needs are met, business creates wealth. Business creates wealth and we seek to meet the needs again. It sounds like a circle that keeps rounding and feeding one and the other.

I personally have enjoyed this course. I was very nervous the first few months trying to make sure I didn’t miss any assignments and understood the reading material. I learn a lot about inequality, social injustice, social structure, social identity, and how to view things through a sociological perspective. This course has prepared me to observe various issue in society in a whole different way. We must educate ourselves about our history to know the differences, if not we will become a product of our environment. Therefore, “it’s easy to slide into the belief that things have always been the way we’ve known them to be” (Rosenblum & Travis, 2012, P.503).

4.|In the Keynesian-cross model, both the price level and interest rate are held constant. A decrease in government spending reduces output by 1/(1 – MPC) times the change in government spending. In the IS-LM model, the reduction in output caused by the decrease in government spending is partially offset by an increase in investment (crowding in). In the IS-LM model, the decrease in government spending reduces income as in the Keynesian-cross model, but the reduction in income also reduces the demand for money, which in turn reduces the interest rate for a given money supply. The lower interest rate stimulates the off setting investment spending.|

To begin with, I want to clarify what is the role of business in society and social responsibility of the corporation. Destination of business has always been the same, to innovate and delivered products and services, to build and maintain the condition of well-being, to use resources effectively. What is different today is the social context in which companies are managing.

Read the attached article regarding new techniques for treating heart attack victims and identify the problem statement for a study among residents in the Minn. area where this new technique is being practiced.  This study is to learn how the residents feel about the new technique being used.  You might want to include survivors of this technique to learn of their assessment of the technique vs. the more commonly used techinque of clot busting.

* Analyze the investment requirements and develop a plan for how the company should pay for it (debt or equity).

In the society we live in, the millennial generation is becoming more socially aware of the various social problems such as health care, access to clean water and malnutrition that we have in the world and everyone is trying to find innovative and sustainable ways to tackle these problems. It is interesting to see how Michael Porter and Toby Eccles views the different concepts on funding social changes to tackle societal problems. Nowadays, a lot of business corporations have started imbibing how to deal with these social problems in their business models while still making profits. Just as Michael Porter states in “Why business can be good at solving social problems”, I really support his idea because if companies include tackling these problems into their core values or business model, they take it very seriously because they know it is important for them to solve those problems, get a good reputation and yet still make profit. On the other hand, in my opinion, Toby Eccles view of “Investing in social change” is not an innovative or scalable way of tackling social problems.

Adam Smith founded the modern study of economics on the premise that all businesses are driven by the invisible hand to seek as much profit as possible while society will take care of itself. However, as the public’s opinion of big business has steadily declined in the recent decades, big business has developed a social conscience to improve all aspects of society from worker compensation to protecting the environment to helping the needy. As Stephen Cook indicates in the January 2003 edition of Management Today: “Everyone cares these days. You can hardly walk through the door of a major company in the western world without tripping over stacks of glossy reports telling you how they care for the environment, their

Hello, I’m the owner of Acme Fireworks. I will graciously give my thoughts and explain my concept on the business. I’m sure that after completing reading my ideas will be vivid and clear to you. I will address the potential of personal liability for injuries to your customers and what must be on our products to further prevent safety hazards. After carefully analyzing the new contracts with our retailers and the employment and creating greater opportunities to expand and grow the business more. The changes will cater to the new contractual obligations, and end with the change of business entity. The deeper we go with growing our business, we

This essay will examine in details the challenges, limitations faced by corporations and the strengths that are drawn from their ethical and socially responsible business practice.

This raises two interesting points; the first is that the answer to the question ‘what is a company’s role in society?’ will be conditioned by normative assumptions about business/government relations in a firm’s country of incorporation.