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Summary Chapter 1: The Relationship between Business and Society CA$8.36   Add to cart
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  3. Capilano University (CapU )
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  5. Business Administration
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  7. BADM 460 (BADM460)

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Summary Chapter 1: The Relationship between Business and Society
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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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  • Chapter 1: the relationship between business and society
  • October 10, 2019
  • 9
  • 2019/2020
  • Summary

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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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