Business Essentials (12th Edition) (What's New in Intro to Business)
12th Edition
ISBN: 9780134728391
Author: Ronald J. Ebert, Ricky W. Griffin
Publisher: PEARSON
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Chapter 2, Problem 2.22C
Summary Introduction
Case summary:
Company DC is taking fair-trade cocoa to the next level. The company returns a share of their profit to the farmers present in their supply chain. The largest shareholder group of Company DC along with fair price receive dividends from the profits obtained through the sale of chocolate.
To explain: If Company DC has an ethical obligation to ask farmers to be organic.
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Students have asked these similar questions
All definitions of Corporate
social responsibility
recognize that:
O a. The natural
environment should
be the main focus of
CSR activities
b. Companies have a
responsibility for their
impact on society
and environment
O C. Business ethics is a
complex issue
o d. Companies must pay
equal attention to the
business ethics and
sustainability.
(Guideline: Write about any other three suitable CSR activities which can be conducted by the companies you selected. Also write, what will be the benefit of your proposed CSR to the companies and public)
Corporate Social Responsibility (CSR) refers to a company's commitment to taking actions that benefit society beyond its core business activities and profit generation. It encompasses a wide range of initiatives aimed at environmental sustainability, ethical labor practices, community development, and philanthropy. By engaging in CSR activities, companies can build positive reputations, enhance employee morale, and contribute to the well-being of the communities in which they operate.
How can a company strike a balance between maximizing profits for shareholders and fulfilling its CSR obligations to society and the environment?
Chapter 2 Solutions
Business Essentials (12th Edition) (What's New in Intro to Business)
Ch. 2 - Prob. 2.1QRCh. 2 - Prob. 2.2QRCh. 2 - Prob. 2.3QRCh. 2 - Prob. 2.4QRCh. 2 - Prob. 2.5QRCh. 2 - Prob. 2.6QACh. 2 - Prob. 2.7QACh. 2 - Prob. 2.8QACh. 2 - Prob. 2.9AECh. 2 - Prob. 2.10AE
Ch. 2 - Prob. 2.11ACh. 2 - Prob. 2.12ACh. 2 - Prob. 2.13ACh. 2 - Prob. 2.14ACh. 2 - Prob. 2.15TECh. 2 - Prob. 2.16TECh. 2 - Prob. 2.17TECh. 2 - Prob. 2.18TECh. 2 - Prob. 2.19EECh. 2 - Prob. 2.20EECh. 2 - Prob. 2.21EECh. 2 - Prob. 2.22CCh. 2 - Prob. 2.23CCh. 2 - Prob. 2.24CCh. 2 - Prob. 2.25CCh. 2 - Prob. 2.26CCh. 2 - Prob. 2.27CCh. 2 - Prob. 2.28CCh. 2 - Prob. 2.29CCh. 2 - Prob. 2.30C
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- As a student of Business Ethics, assume you are confronted with an unethical situation, which of the four models discussed in this chapter would you use to overcome this unethical situation and why?arrow_forwardIn the realm of business ethics, the concept of corporate social responsibility (CSR) plays a pivotal role. Corporate social responsibility involves businesses acknowledging and taking responsibility for the impact of their activities on society and the environment. Beyond financial gains, companies are increasingly expected to contribute positively to the well-being of the communities they operate in and the world at large. This includes initiatives related to environmental sustainability, social justice, and philanthropy. Embracing CSR not only aligns with ethical principles but also enhances a company's reputation and brand image. Stakeholders, including consumers and investors, are increasingly prioritizing socially responsible businesses, making CSR an integral component of modern business ethics. Question: How can businesses strike a balance between maximizing profits and fulfilling their corporate social responsibility, ensuring that their pursuit of financial success aligns…arrow_forwardSocial responsibilities encompass the ethical and moral obligations that individuals, organizations, and communities have towards the well-being of society and the environment. This concept recognizes that businesses and individuals are not just responsible for their financial success but also for contributing positively to the broader community. Social responsibilities can include actions like giving back to the community through philanthropy, promoting environmentally sustainable practices, and treating employees and customers with fairness and respect. By fulfilling these responsibilities, entities can help create a more equitable and sustainable society. Question: How can businesses strike a balance between their profit-making goals and their social responsibilities to ensure they make a positive impact on society and the environment?arrow_forward
- How do the terms business ethics and social responsibility differ from each other? Multiple Choice Business ethics concerns the impact of the entire business's activities on society, whereas social responsibility relates to an individual's decisions that society evaluates as right or wrong. Business ethics is a broader concept, whereas social responsibility is a narrower concept. Business ethics and social responsibility can be used interchangeably because they mean the same thing Business ethics relates to an individual's or a work group's decisions that society evaluates as right or wrong, whereas social responsibility concerns the impact of the entire business's activities on society.arrow_forwardBusiness Ethics Is it morally permissible for pharmaceutical drug makers to give samples of their drugs to doctors for redistribution to their patients? Why or why not?arrow_forwardFind a company in the news today that’s acting at one level of the CSR pyramid: economic, legal, ethical, and philanthropic. Explain what action qualifies the company to be at that level of the pyramid, and then talk about how the company is being socially responsible AND how that action will ultimately benefit their businesses.arrow_forward
- how businesses should be held responsible when consumers are harmed by their products. We have chosen companies like McDonalds, Johnson & Johnson, and Apple, through which we will discuss the product liability law.arrow_forwardIn terms of the four major theories of the social responsibility of business, write addressing which one of the theories you most enthusiastically support, and why. Do you think the government should regulate social responsibility in business?arrow_forwardWhat unethical business practices were involved in the Wells Fargo incident? Give examples and demonstrate detailed ethical reasoning using ethical reasoning and relevant factual informationarrow_forward
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