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    4.social Responsibility

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    tanjimalomturjo1
    Social responsibility in business refers to the ethical and moral obligations companies have to society and the environment. It means operating in a way that benefits stakeholders like customers, employees, suppliers, and the community, not just profits. Social responsibility is worth the cost because it builds sustainable businesses and societies. It can enhance reputation and brand image in the short term, and create resilient environments by addressing social and environmental issues in the long term. Firms can advance social responsibility through sustainable practices, philanthropic activities, ensuring product safety, fair employee treatment, and ethical practices. They can encourage ethical employee behavior with codes of ethics, training, protecting whistleblowers, leadership by example, and a culture valuing ethics.

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    4.social Responsibility

    Uploaded by

    tanjimalomturjo1
    10 views2 pages
    Social responsibility in business refers to the ethical and moral obligations companies have to society and the environment. It means operating in a way that benefits stakeholders like customers, employees, suppliers, and the community, not just profits. Social responsibility is worth the cost because it builds sustainable businesses and societies. It can enhance reputation and brand image in the short term, and create resilient environments by addressing social and environmental issues in the long term. Firms can advance social responsibility through sustainable practices, philanthropic activities, ensuring product safety, fair employee treatment, and ethical practices. They can encourage ethical employee behavior with codes of ethics, training, protecting whistleblowers, leadership by example, and a culture valuing ethics.

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    4.Social responsibility

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    Social responsibility in business refers to the ethical and moral obligations companies have to society and the environment. It means operating in a way that benefits stakeholders like customers, employees, suppliers, and the community, not just profits. Social responsibility is worth the cost because it builds sustainable businesses and societies. It can enhance reputation and brand image in the short term, and create resilient environments by addressing social and environmental issues in the long term. Firms can advance social responsibility through sustainable practices, philanthropic activities, ensuring product safety, fair employee treatment, and ethical practices. They can encourage ethical employee behavior with codes of ethics, training, protecting whistleblowers, leadership by example, and a culture valuing ethics.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    10 views2 pages

    4.social Responsibility

    Uploaded by

    tanjimalomturjo1
    Social responsibility in business refers to the ethical and moral obligations companies have to society and the environment. It means operating in a way that benefits stakeholders like customers, employees, suppliers, and the community, not just profits. Social responsibility is worth the cost because it builds sustainable businesses and societies. It can enhance reputation and brand image in the short term, and create resilient environments by addressing social and environmental issues in the long term. Firms can advance social responsibility through sustainable practices, philanthropic activities, ensuring product safety, fair employee treatment, and ethical practices. They can encourage ethical employee behavior with codes of ethics, training, protecting whistleblowers, leadership by example, and a culture valuing ethics.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    4.

    Social responsibility
    what is social responsibility in business
    3/3
    Social responsibility in business refers to the ethical and moral obligations that a company has
    towards society and the environment . It is the concept that businesses should operate in a way that
    benefits not just their bottom line, but also their stakeholders, such as customers, employees,
    suppliers, and the wider community.

    how social responsibility is worth the cost?


    Social responsibility is worth the cost because it is a fundamental aspect of building a sustainable
    business and society. Companies that act with social responsibility not only demonstrate their
    commitment to ethical and moral principles but also contribute to the greater good of society.

    Investing in social responsibility initiatives can have both short-term and long-term benefits for a
    company. In the short term, it can help to enhance a company's reputation and brand image, leading
    to increased customer loyalty and a stronger competitive advantage. In the long term, it can create a
    more stable and resilient business environment by addressing social and environmental issues that
    can threaten the sustainability of a company.

    1. identify the way in which firms can advance social responsibility? 2. is executive generally are paid
    too much ? why and why not?3. how might a firm can encourage its employees to behave ethically?
    point by poiny
    1. Firms can advance social responsibility by:
     Implementing sustainable business practices that minimize their negative impact on the
    environment.
     Supporting social causes and engaging in philanthropic activities that benefit the
    communities they operate in.
     Ensuring that their products and services are safe and of high quality.
     Treating their employees fairly and providing them with a safe and healthy work
    environment.
     Engaging in ethical business practices, such as avoiding corruption and bribery.
     Being transparent in their operations and reporting.
    2. Whether or not executives are generally paid too much is a topic of debate, and opinions
    vary. Some arguments for executive pay being too high include:
     The large discrepancy between executive pay and average worker pay, which has been
    growing over the years.
     The fact that executive pay is often not tied to company performance, meaning that
    executives can receive high pay even if the company is not performing well.
     The perception that some executives prioritize their own interests over those of the company
    and its shareholders.

    On the other hand, arguments for executive pay being justified include:

     The argument that executives are responsible for making important decisions that can
    significantly impact the company's success or failure.

    1
    4. Social responsibility
     The belief that high executive pay attracts the best talent and motivates executives to
    perform at their best.
     The idea that executive pay is determined by market forces, and that companies must pay
    competitively to attract and retain top talent.
    3. Some ways in which a firm can encourage its employees to behave ethically include:
     Establishing a code of ethics that outlines the firm's expectations for employee behavior.
     Providing ethics training to employees to help them understand what is expected of them
    and how to make ethical decisions.
     Encouraging employees to report any unethical behavior they witness and protecting
    whistleblowers from retaliation.
     Leading by example, with senior executives and managers setting an ethical tone for the
    organization.
     Creating a culture that values ethical behavior and rewards employees for doing the right
    thing.
     Holding employees accountable for unethical behavior and enforcing consequences for
    violations of the company's ethical standards.

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