Summary

Summary Chapter 1: The Relationship between Business and Society

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Course
BADM 460 (BADM460)

Institution
Capilano University (CapU )

Book
Canadian Business

Summary of Chapter 1: The Relationship between Business and Society Objectives: 1. Describe the complexity of the interrelationships between business and society. 2. Define the terminology relating to the integrity of business. 3. Differentiate between the three main approaches to ethical thin...

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Summarized whole book? No
Which chapters are summarized? Chapter 1: the relationship between business and society
Uploaded on October 10, 2019
Number of pages 9
Written in 2019/2020
Type Summary

csr
business
corporate
corporation
ethics
ethical behaviour
justice
fiduciary duty
responsibility
integrity
transparency
society
accountability
stakeholders
corporate social responsibility

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Ch 1: Relationship Between Business & Society

- Describe the complexity of the interrelationships between business &
society
- Define the terminology relating to the integrity of business
- Differentiate between the 3 main approaches to ethical thinking
- Provide brief description of the Canadian business system
- Explain role of the corporation as main economic institution in the business
system
- Recognize business operates with the consent of society
- Summarize factors that influence society’s attitudes toward business that
lead to criticism of the system
- Identify the 3 stakeholders mainly responsible for Canadian businesses
operation
- Understand the relationship between business & academic integrity
- Describe integration of business & society

Complexity of Business & Society

- Involves studying the history & background of the Canadian business
system & examining the contemporary issues confronting business
- Canadian society comprises many institutitions & groups that interact,
including gov’ts, labour unions, minority groups, environmentalists,
consumers, communications media, business organizations & variety of
interest groups or non-governmental organizations
- All have important role to play & influence business decision making
- A shift has occurred in what society believes business responsibilities
should be, & many corporations are recognizing they must respond to this
to survive & continue to be profitable
- As a result, corporations are considering in their relationship to society:
- Corporations should meet humanity’s needs without harming future
generations
- Social responsibility or corporate sustainability reports published should
move beyond the PR exercises they may have been in the past
- Increasing numbers of stakeholders are demanding corporations account
for more than economic responsibilities

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Summary Chapter 1: The Relationship between Business and Society

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