BUS061 HW5

BUS061 HW5 - Sharon Ng Professor Diamond BUS061 17 July...

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Sharon Ng Professor Diamond BUS061 17 July 2011 Chapter 5 Homework 1. What is social responsibility? Please cite an example of a corporation that is treating its stakeholders in a socially responsible way. (Stakeholders include: stockholders, consumers, employees, suppliers, community members.) Answer: Social responsibility is the duty of a corporation to create wealth in ways that avoid harm to, protect, or enhance societal assets. An example of a corporation that is treating its stakeholders in a socially responsible way is when employees provide goods and services to consumers in hopes of maximizing profits for the business, but at the same time, does not do it in a way that would harm them. 2. Define and explain "fair trade." Please provide examples of businesses that are actively engage in fair trade practices. (Hint: check out clothing, food, and jewelry labels - especially on imported items.) Answer: Fair trade is an organized social movement and market-based approach that aims to help producers in developing countries make better
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This note was uploaded on 08/30/2011 for the course BUS 51 taught by Professor Henderson during the Summer '11 term at West Valley.

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BUS061 HW5 - Sharon Ng Professor Diamond BUS061 17 July...

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