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ls. Social Responsibility Social Responsibility Social Responsibility Today By the early 1950s, finding that the key to increasing sales is to produce things that people want and need, businesses planned products to meet customers’ needs. Social Responsibility Social Responsibility Today Society expresses what it does not want in several ways. 1. Lawmakers and regulatory groups attempt to prohibit and control undesired business practices . 2. A wide variety of laws and guidelines relate to product safety, warranties, packaging, labeling, advertising, personal selling, and pricing, not to mention petitive and environmental issues. 3. specialinterest groups pressure business to achieve desired performance standards or to change certain ongoing activities. Social Responsibility Social Responsibility Today To be successful, a business must determine what customers, employees, government regulators, and petitors, as well as society in general, want or expect in terms of social responsibility. Social Responsibility ◆ An expanded view of social responsibility regards anizations as having a corporate social consciousness. ◆ As part of being responsible, the interests of the c o r p o r a t i o n are b a l a n c e d a g a i n s t its accountability for the effect of its actions upon society, the environment, and other interested parties. A pany with a strong corporate social consciousness would be : ☆ profitable ☆ pay high wages ☆ attract highquality job candidates ☆ be admired by the general public and the government Social Responsibility Other opinions towards social Responsibility Social Responsibility ◆ Most panies today consider the implementation of social responsible actions a cost of doing business. ◆ A WalMart senior executive says, “ The watchword for all our people is ‘ Do what is right.’ That’ s what we really preach and teach, and we want” . ◆ Two of WalMart’ s merchandising decisions were to sell: 1. hunting