BUSA-111-C71-INTRO TO BUSINESS HWK 02 1

BUSA-111-C71-HWK02

2

Provided with Tim Severns permission.

Thank you Tim

BUSA-111-C71-INTRO TO BUSINESS HWK 02

Tim Severns

New Mexico State University

HKW02

3 Overall, would it be more profitable for a business to follow the economic model or the socioeconomic model of social responsibility?

I think it’s either profitable in the monetary sense or in a social sense. Starting with the economic model, it’s a focus on what the business is supposed to, with the least amount of overhead to turn a profit. An example would be the gun industry. In the economic model, that gun could be made anywhere, by anyone, constructed of out of solid material, with the capacity to house a clip that holds 100 rounds of ammunition.

In the socioeconomic model, that same gun would be manufactured in a secured warehouse, buy people with no criminal background, constructed out of a material with little impact on the environment, with a clip that would hold 10 rounds of ammunition. In this model the social implications would be considered as necessary whether for public safety or concern for the environment. In our textbook, William M. Pride Foundations of Business, page 48-49 The Pros and Cons of Social Responsibility states that arguments are based on the assumption that a business has a responsibility not only to its stockholders but also to its customers, employees, suppliers, and the general public. It’s for this reason I believe that long term, the socioeconomic model would have the greatest positive impact on people, profitability and the environment.

In addition to the maybe over simplified example that I shared above, I also reviewed a paper online written by Geoffery Heal, a Professor of Public Policy and Corporate Responsibility Columbia Business School. (Corporate Social Responsibility , 2004) In it he cites an example where the Heinz Company changed the source to which it harvests their tuna from the eastern to western pacific. Heinz incurred extra costs in doing this, but enhanced their brand by catching in an area where the dolphin by catch was much less, thus having less of an impact on the environment.

1. When a company acts in an ethically questionable manner, what types of problems are caused for the organization and its customers?

In Geoffery Heals publication reference above, (Corporate Social Responsibility , 2004) Page 8 references McDonalds and its polystyrene packaging material for several of its products. In McDonalds view they believed they were doing the right thing in terms of the environment, however they did not take the environmental groups and their view into consideration. From a customer point of view, anything that can be considered damaging to the environment, may have an impact on forecasted revenue which impacts earnings for publicly help companies.DIS 01 Part 1) In what ways have the problems caused by recent news events affected business firms?

Part 2) In what ways have they affected employees and individuals?

You may have to research this a little. I alwaysrequireyou to use at least one outside source.
Following the Tim’s Answer for how you do this attatched assignment HWK 1 Assignment
Also please do Dis 01