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concern for the welfare of society
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∙ 14y ago
Wiki User
∙ 11y agowelfare of society.
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Why is business the business of business?
The economist Milton Friedman said that the "social responsibility" of business is to increase its profits, and nothing else. He was responding to a then-growing body of thought that businesses had all sorts of other responsibilities, ranging from their alleged responsibilities to the communities in which they operated, to their alleged responsibilities to the environment. The notion of a business's "social responsibility" has gained widespread acceptance in the last few decades. Engaging in "corporate social responsibility" projects is probably good public relations and it keeps environmental and other activists off business's back, but it diverts funds from the business's actual profit-making activities and so it lowers profits and diverts them to the undeserving, instead of to the investors, who actually risked their own money to get the maximum return on their invested capital. So a corporation town gets a "free" park that is actually paid for with money that should have gone to the shareholders. Corporate social responsibility has in some cases been defined and mandated by law, by agencies such as the Environmental Protection Agency in the US, whose mission is to suck firms dry in fines, penalties and expensive regulations that don't add significant value to the company, or to anyone's life. I think Friedman was right; a business should be concerned with making a profit. What do you think?
Do socially responsible firms provide more fringe benefits or different types of fringe benefits than other firms Why or why not?
first try to understand that social responsibility is different from the present issue. it is towards the society. of course the other way of looking is uplifting our own employees through the fringe benefits. again, here we are trying to avoid or evade tax, which may not be good from the government point of view. to me, giving fringe benefits is not a social responsibility at all. we can straight away take care of the employees in different forms like quality environment to work, taking care of their family and children's education etc.,
The circular flow of economic activity describes an economy that is free of markets?
The market is the mechanism that brings together households and firms.
What is the environment of business firms?
These include customers,competitors, suppliers, government, and the social, political, legal and technological factors etc.
Which of the following describes the possible pricing pattern of firms in perfect competition?
each firm charges a different price to allow for difference fixed cost
How do you improve corporate social responsibility?
The best way to improve corporate responsibility is to hold organizations accountable for their actions. Consumers can do this by boycotting firms that don't act responsibly.
How do you identify dependent and independent variables in research on corporate social responsibility and how it affects a firms reputation employee commitment and retention and customer satisfaction?
When you do an experiment the variable you control is the independent variable, and the variable you measure is the dependent variable. The independent variable is controlled by the experimenter; the dependent variable is measured. In this case, corporate social responsibility is the independent variable, and the others are dependent variables.
tier 1 corporate law firms in india?
Tier 1 corporate law firms in India are prestigious legal firms renowned for their expertise in corporate and commercial law.
What is corporate image Explain with examples?
Corporate image is a mental picture tht springs up at the mention of a firms name
What kind of experience does one need to work in corporate law firms?
Depending on what the corporate law firm is looking for in a candidate. Sometimes, law firms looks for inexperienced people to teach them all, and other times, skilled people to work immediately.
Where do corporate lawyers work?
in corporations and companies. in other words, they work for legal persons other than law firms (firms specialized in legal issues)
What are the significance of taking financial decisions in firms?
. Explain the significance of making financial decision by corporate organizations
What best describes HCO3?
This is the bicarbonate ion. It firms a weak alkali when dissolved.
What is liquidity corporate and policy in business?
The Theory and Practice of Corporate Liquidity Policy. January ... The trade off view suggests that firms trade off various costs and benefits.
What types of jobs are available in a corporate setting?
The types of jobs available in a corporate setting are personal relations, law firms, and many other professional salaried jobs. These are the jobs that can be found.
Why is business the business of business?
The economist Milton Friedman said that the "social responsibility" of business is to increase its profits, and nothing else. He was responding to a then-growing body of thought that businesses had all sorts of other responsibilities, ranging from their alleged responsibilities to the communities in which they operated, to their alleged responsibilities to the environment. The notion of a business's "social responsibility" has gained widespread acceptance in the last few decades. Engaging in "corporate social responsibility" projects is probably good public relations and it keeps environmental and other activists off business's back, but it diverts funds from the business's actual profit-making activities and so it lowers profits and diverts them to the undeserving, instead of to the investors, who actually risked their own money to get the maximum return on their invested capital. So a corporation town gets a "free" park that is actually paid for with money that should have gone to the shareholders. Corporate social responsibility has in some cases been defined and mandated by law, by agencies such as the Environmental Protection Agency in the US, whose mission is to suck firms dry in fines, penalties and expensive regulations that don't add significant value to the company, or to anyone's life. I think Friedman was right; a business should be concerned with making a profit. What do you think?
What are the main challenges of corporate laws?
In a globalized economy,we do not know when recession occurs.That is the reason why corporate law firms are posed with a major challenge to offer premier consultinga as the policy of the government changes.In India,which is a developing economy,corporate law firms have the advantage to make corporations tailor policy which is beneficial to the all-powerful corporations. the bourgeouis of India Incorporation lose out.That's what happens in a developing economy. by vaibhav aksh
