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MGT2-04 Social responsibility in business for studnts 1 .doc

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SOCIAL RESPONSIBILITY IN BUSINESS(Mison and Bernabe, pp. 251-271)I.SOCIAL RESPONSIBILITYBusiness practices like all human activities take place within a value structure.Socially responsible business behavior exists if business decision-making takes place within thelimits prescribed by the socio-cultural environment.a)Historical perspective3000 B.C. – use of contract was common in manufacturing and tradingA favorable business environment was notably observed (in Carthage, Tyre & Rhodes).In these times, business was looked upon with respect because it was the source ofwealth.In contrast, Greek merchants were considered inferior citizens because high positionswere occupied by the military class, landowners, and the royalty; merchants in Romewere also looked down with disdain because of militarization and conquest.Still merchants flourished because it provided the needs of society.Business stagnated for a while with the downfall of Rome.Catholic Church helped shape a social philosophy toward business (but abandonedwhen Protestantism came about.As societies grew and developed, more and more business thrived and prospered andsocieties tended to lean on business for economic support.1960-1970S –Business ethicswas known ascorporate social responsibility.It was argued that the sole responsibility of business was to maximize its bottom linesubject to the minimal control of the law.(1970s) responsibility took an expansive view of the law and of the market.The idea –to bring experts in moral philosophy into business schools with the hope thatwould-be managers would beethical.Today, the concept is that business ethics is not the concern for managers alone;it iseveryone’s responsibility.b)Social responsibility– refers to the degree of effectivity of a person or a businessfirm in carrying out their role(s) in relation to society.In meeting its obligation to society, business hasthree main areas of concerntoday:1)Equal opportunity2)Ecology3)ConsumerismII.The Areas of Concern of Corporate Social Responsibility of BusinessSocial. It refers to the improvement of the social life of the people in a community.Political.Government policies can influence business relationship with its public. Businessshould cooperate with some of the plans regarding the alleviation of poverty, housing problem,etc.Economics. This area of concern includes the uplift of the condition of the community wherebusiness operates.

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Term
Spring
Professor
N/A
Tags
Business, Business Ethics, Corporate social responsibility, Community Relations

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