Premium Essay

Busduness

In: Business and Management

Submitted By lngrime
Words 258
Pages 2
Chapter 2 1. Business’ relationship with its stakeholders often evolves through a series of stages. List the stages and explain each. What is the relationship between business and society and what are the forces that shape that relationship?

Inactive: Companies ignore stakeholder concerns
Reactive: Companies act only when forced to do so, and then in a defensive manner
Proactive: Companies try to anticipate stakeholder concerns
Interactive: Companies actively engage stakeholders in an ongoing relationship of mutual respect, openness, and trust

The relationship between business and society is integral in the success of any business, this relationship is defined as how a company interacts with society. An important fact is that business is about relationships and a successful firm is the one that is able to build good and long-lasting relationships with its customers. A driving force behind this our social nature, human beings like to be included in a group of people like ourselves that make us feel the sense of being with others and having a discussion as a part of the exchange of ideas.

Chapter 3 2. Discuss and explain Corporate Social Responsibility.
Corporate social responsibility refers to a business practice that involves participating in initiatives that benefit society. One reason for this is that corporations cater to their customers. So as consumers' awareness about global social issues continues to grow so does the companies. A good example would be giving nonprofit organizations a portion of the company's proceeds, to giving away a product or service to a worthy recipient for every sale

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