1.1 The Business and Society Relationship

Question 1

There was a shift in what society believes business responsibilities should be. Corporations are considering the following in their relationship to a society:

Answer 1

• Business corporations should meet humanity’s needs without harming future generations.
• Corporate sustainability reports published should move public relations exercises.
• Increasing numbers of stakeholders are demanding corporations account for more than economic responsibilities.
• Progressive and innovative responses to social, ethical, and environmental responsibilities constitute a valuable intangible asset.
• Executives must have the skills and competencies to manage these additional responsibilities successfully.
• Response to these responsibilities will determine the corporations that will survive.