Exam1 - FC6 - Growing Emphasis on Ethical Reasoning and...

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Unformatted text preview: Growing Emphasis on Ethical Reasoning and Actions 1. Changing social expectations 2. Dynamic natural environment 3. Evolving government regulations 4. Explosion of new technology 5. Growing emphasis on ethical reasoning and actions 6. Globalization Forces that shape the business and society relationship: The public expects business to be ethical and wants corporate managers to apply ethical principles or values (i.e. guidelines about what is right and wrong, fair and unfair, and morally correct). Evolving Government Regulations Globalization Living in an increasingly integrated world economy, characterized by the unceasing movement of goods, services, and capital across national borders. Governments around the world have enacted a myriad of new policies that have constrained how business is allowed to operate; business managers understand the opportunities that may arise from active participation in the political process. Dynamic Natural Environment Changing Societal Expectations People increasingly expect business to be more responsible, believing companies should pay close attention to social issues and act as good citizens in society. All interactions between business and society occur within a finite natural ecosystem; the state of earths resources and changing attitudes about the natural environment. Customer Environment Explosion of New Technology One of the most dramatic and powerful forces affecting business and society; its pace poses massive challenges for business. Demographic factors, such as gender, age, marital status, and other factors, of the organizations customers as well as their social values or preferences. Economic Environment Competitor Environment Information on the number and strength of the organizations competitors, whether they are potential or actual allies, patterns of aggressive growth versus static maintenance of market Includes information about costs, prices, international trade, etc. share, and the potential for customers to become competitors. Social Environment Technological Environment The development of new technologies and their applications affecting the organization, its customers, and other stakeholder groups....
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Exam1 - FC6 - Growing Emphasis on Ethical Reasoning and...

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