Summarize the debate for and against social responsibility. What is your opinion, and why?
What will be an ideal response?
Milton Friedman represents the view against social responsibility, as he said, “The social responsibility of business is to make profits.” That is, unless a company focuses on maximizing profits, it will become distracted and fail to provide goods and services, benefit the stockholders, create jobs, and expand economic growth—the real social justification for the firm’s existence.
The argument in favor of corporate social responsibility includes the following:
1. Businesses have an ethical obligation to contribute to society's welfare.
2. Businesses create problems, and should help solve those problems.
3. Businesses have resources to solve problems that other entities do not have.
4. Socially responsible behavior can create a favorable public image, which in turn makes the business more profitable.
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Figure 4-1Identify and explain the five stages of the consumer purchase decision process as shown in A, B, C, D, and E in Figure 4-1 above.
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Identify and describe the principal contract interests a court may seek to protect.
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Brenda's Big Burgers, a small hamburger restaurant and take-out drive-through, has identified the following resources that it uses in its business:Required:Suggest a proper cost driver for each of the following items: Cost Driver ExampleA.Bread for burger buns B.Take-out bags assuming one per drive-through customer order C.Ground sirloin D.Mayonnaise, catsup, pickles, and onions E.Salary of the restaurant manager F.Restaurant rent G.Workers hourly wages H.Coupons for Brenda's Colossal Burger I.Utilities J.Brenda's Buy-Any One Burger and Get one Free Burger Promotion
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All of the following are included within the business plan BEFORE the appendices EXCEPT ________
A) marketing strategy B) professional references C) core production strategy D) table of contents E) company profile and strategy