100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
BMGT 496 Final Project 2: Business Obligations >Solved Fall 2024. $15.04   Add to cart

Essay

BMGT 496 Final Project 2: Business Obligations >Solved Fall 2024.

 4 views  0 purchase

BMGT 496 Final Project 2: Business Obligations University of Maryland, University College BMGT 496

Preview 2 out of 8  pages

  • August 27, 2024
  • 8
  • 2024/2025
  • Essay
  • Unknown
  • A+
All documents for this subject (2)
avatar-seller
Topscorer
Project 2: Business Obligations




Memorandum

Date: 01 July 2024


Subject: Business Obligations



This study source was downloaded by 100000889787716 from CourseHero.com on 08-26-2024 23:13:14 GMT -05:00


https://www.coursehero.com/file/239088214/BMGT-496-Project-2-Final-courseherodocx/

, Introduction


Social responsibility is a practice that enables businesses to have a positive impact on their

communities. It can mean maximizing profits or contributing to the community in any other way

(Fernando, 2021). Friedman sees social responsibility as a measure that says it’s because of

stakeholders a business makes a profit. Successful entrepreneurs want to make as much profit as

possible from a venture. Again, his approach is to maximize profit rather than to do what’s best

for the business to be most socially responsible. This argument is based on the assumption that

companies shouldn't spend shareholders' money on long-term benefits that cost more than they

return. If shareholders want to pursue these initiatives themselves, they should be of their own

free will.


The triple-bottom-line approach to social responsibility considers people, profit, and the planet.

This means a business can make a profit while doing something good for the community it

operates in. It has the added advantage of focusing on environmental and social responsibility

thus benefiting the business, employees, customers, and the environment.


A major ethical concern with this approach that has been raised is pollution and environmental

waste which is a global issue. The two positions discuss how they handle social and ethical

issues including pollution. Pollution affects most parts of the world and majorly affects those

who are poor or below the living standard. It has consequences for future generations and plants,

affects water sources, and most importantly the general quality of life. (Brown, 2001).


Summary of Friedman’s Position



This study source was downloaded by 100000889787716 from CourseHero.com on 08-26-2024 23:13:14 GMT -05:00


https://www.coursehero.com/file/239088214/BMGT-496-Project-2-Final-courseherodocx/

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller Topscorer. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $15.04. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79064 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$15.04
  • (0)
  Add to cart