Day 7 (Monday) to respond to your classmates. Your grade will reflect both the quality of your initial post and the depth of your responses. Refer to the Discussion Forum Grading Rubric under the Settings icon above for guidance on how your discussion will be
PLEASE INCLUDE THE # AND NAME OUT NEXT TO THE RESPONSE, THAT WAY I CAN MAKE SURE THEY GO TO THE RIGHT PERSON.
Jul 9, 2017Jul 9 at 11:03pm
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The relationship between the means of production (business) and society (employees, customers, suppliers) is shaped by sustainability and social investments. This relationship should be viewed as a social contract. They are connected so any action of one effects the other. Business is supply and demand with an ethical sustainability as outlined in our text (chapter 1.1) in the example of Merck & Co. who produced a drug knowing they would never recoup the cost. The ethical decision to do so resulted in the eradication of the disease the drug was created to treat. This demonstrated a strength in leadership that enhanced the company’s image. Although this could have a negative impact on the bottom line, it is a demonstration of doing the right thing. “People increasingly expect business to be more responsible, believing companies Social investments are investing in people”, Mohit, M (n.d.) There are numerous business who contribute to the college education of both employees and their families. Combined with community involvement and contribution to employee benefits they demonstrate social investment. “Social investments not only acknowledge that employees make a valuable contribution, they also highlight the value of the lives of people outside the company” Hammond & Christensen (2016) The combination of these two shape the relationship between business and society.
Hammond, S. C., & Christensen, L. J. (2016). Corporate and social responsibility: Road map for a sustainable future
Mohit, M (n.d.) Academia.edu The relationship between business and society Retrieved from http://www.academia.edu/6078716/The_relationship_between_business_and_society
#2 Misty Alford
TuesdayJul 11 at 10:23pm
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Business and Society changes so much. There is a change just about everyday with both and the people in them. The biggest thing is supply and demand. The companies supply and society demands. The companies have to be able to produce enough for the demand from society. You can think about Merck & Co. and society. Merck supplied the drugs, but during the process they were trying to be a supplier of so much until they started having problems with some of the drugs and started having recalls. We used to have a Mercks here in my city, but they decided to relocate after a huge recall for a drug that the plant here made. Then there is Proctor & Gamble, producing toiletries and other paper needs for society. There is a very high demand for those products too and they are building plants in several states to help produce for the high demands. With the high demands from society for both companies products, they are giving back to society for the high demands and to show thanks for purchasing their products. They are producing and supporting thousands of products and receiving millions of dollars in return. And with that being said they are producing thousands of jobs for society. The more society demands the more the company produces products and jobs.