Week 5 Addendum (Students' Midterm Exam Review) (1)

Week 5 Addendum (Students' Midterm Exam Review) (1) - BA...

Info icon This preview shows pages 1–3. Sign up to view the full content.

BA 385: Business Environment _______________________________________ Addendum Week 5 Midterm Exam Review Some Broad Concepts _______________________________________ 1. The foundation principle for this course: Business has a responsibility to society. a. See Chapter 2: Corporate Citizenship: Social Responsibility, Responsiveness, and Performance. b. A definition of corporate social responsibility (CSR): “The social responsibility of business encompasses the economic, legal, ethical, and discretionary (philanthropic) expectations that society has of organizations.” 2. What makes it the foundation principle? a. Businesses do not exist in a vacuum. 1) Businesses exist within society and receive benefits from society. What does society provide to businesses? 2) To corporations, society provides the right to sell shares to the public, freedom from personal liability for the corporation’s debts, and an opportunity for great personal wealth for the owners. 3) Society also provides them with the context in which they operate, including: a) An infrastructure—roads, a power grid, rivers, etc ., b) An educated workforce, c) Possibilities for externalizing other costs (superfunds for environmental recovery, bailouts, etc.), d) .
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

BA 385: Business Environment b. Out of this reality arises an obligation imposed by society. c. The best businesses pursue compliance with the social contract by seeking organizational sustainability. d. Those seeking organizational sustainability acknowledge the purpose of business to be the following: 1) For a business to be fully sustainable, it needs . . .
Image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern