Asked by
Elijah Joseph
on Dec 13, 2024Verified
Profit responsibility, societal responsibility, and stakeholder responsibility are three concepts of
A) cause marketing.
B) moral idealism.
C) social responsibility.
D) utilitarianism.
E) green marketing.
Social Responsibility
The idea that businesses should contribute to the welfare of society and not be solely focused on maximizing profits.
Stakeholder Responsibility
The obligation of organizations to consider the interests and well-being of all individuals or groups affected by their actions.
Profit Responsibility
An obligation companies bear to generate financial gains for their shareholders, ensuring the organization's economic viability and growth.
- Unpack the fundamental tenets of social, stakeholder, and profitability duties within the framework of corporate ethics.
- Differentiate between the three concepts of social responsibility concerning their specific focus areas and constituencies.
Verified Answer
VM
Learning Objectives
- Unpack the fundamental tenets of social, stakeholder, and profitability duties within the framework of corporate ethics.
- Differentiate between the three concepts of social responsibility concerning their specific focus areas and constituencies.