Business Ethics & Corporate Governance


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Pages : 304; Paperback;
210 X 275 mm approx.
Suggested Case Studies

Pages : 136; Paperback;
210 X 275 mm approx,  Sample Applied Theory Questions
Sample Multiple Choice Questions (Online Quiz)


Textbook Price: Rs. 600;
Workbook Price: Rs. 700;
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Business Ethics & Corporate Governance Textbook | Workbook

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<< Chapter 16

The Role of Business in Society : Chapter 17

SUMMARY: Business is expected to create wealth and employment, while society is expected to provide a conducive environment for the business to flourish. The value and ethical standards that a company adopts are the long-term assets of the organization.

There are a number of tasks that a business has to fulfill to the society. These include the financial task, political task, environment task, adaptive task, economic task, and social tasks. Financial tasks include laying down policies and guidelines for the proper functioning of the financial systems.

The environmental tasks include the responsibility of an organization towards the environment. With the perceptions of the consumers changing towards products that are harmful to the environment, companies have to show their concern for the environment by producing environmentally friendly products.

The maintenance tasks include the involvement of organizations with non-profit organizations in providing service to the society.

Social task include providing equal opportunity for all the members of the society by organizations and taking into consideration the basic human rights of an employee. The way an organization responds to its responsibility to the society has been discussed with special reference to the enlightenment matrix.

Further the social challenges of an organization have been discussed with community involvement choice flow. It is a process that guides an organization in fulfilling its role to the society. Finally the standards and values that an organization have to follow have been discussed with special reference Clutterbuck's and Carmiachel's approaches.

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