An increasing percentage of turkeys are now being marketed as free range. Consumers typically pay $1 more per pound for free-range turkeys, which are thought to have lived more humane or avian lives - and as a result, to taste better than conventionally-raised turkeys. The USDA defines a free-range bird as one that has been allowed access to the out-of-doors. Are turkey growers who allow their birds to access the out-of-doors only moments before they are killed acting socially responsible?
What will be an ideal response?
To answer this question, students will need to consider the three concepts of social responsibility. If the turkey grower feels that its responsibility is to maximize profits for its owners and stockholders, then it is taking profit responsibility - this is one of the concepts of social responsibility. It is not acting socially responsible if it believes in stakeholder responsibility. Customers who actually desire a more humanely treated animal are being deceived. There is nothing to indicate that the grower is taking any societal responsibility.
You might also like to view...
The bond issue price is determined by calculating the
a. present value of the stream of interest payments and the future value of the maturity amount. b. future value of the stream of interest payments and the future value of the maturity amount. c. future value of the stream of interest payments and the present value of the maturity amount. d. present value of the stream of interest payments and the present value of the maturity amount.
Exhibit 22-1 On January 1, 2016, the Chrissy Company purchased a machine for $450,000 with an estimate useful life of six years and a $30,000 salvage value. Straight-line depreciation was used for financial reporting purposes and MACRS depreciation for income tax reporting. Effective January 1, 2018, Chrissy switched to the double-declining-balance depreciation method for financial statement
reporting but not for income tax purposes. Chrissy can justify the change. ? Refer to Exhibit 22-1. Assuming an income tax rate of 35%, what is the amount of cumulative effect change reported in Chrissy's 2018 income statement ? A) $0 B) $77,000 C) $93,333 D) $110,000
All of the following statements are true about the integrated test facility (ITF) except
a. production reports are affected by ITF transactions b. ITF databases contain "dummy" records integrated with legitimate records c. ITF permits ongoing application auditing d. ITF does not disrupt operations or require the intervention of computer services personnel
A Miami restaurant has created atmosphere through its subtle use of blue and green lighting, ceiling fans over each table, and frozen drinks. If its electrical energy supplier raises its prices, the restaurant will most likely ________
A) continue its present operation because it has an elastic demand for electricity B) ask other Miami restaurants to create a derived demand for cheaper electricity C) decide to find other ways to use electricity D) continue its present operation because it has an inelastic demand for electricity E) remove its lighting, turn off its fans, and economize on its use of electricity