1. Discuss, investigate, and research the following with your teammates: Often,
ID: 352044 • Letter: 1
Question
1. Discuss, investigate, and research the following with your teammates:Often, community events are sponsored by corporations who claim that the reason they are involved is "to give back" to the community. However, on page 37 of Conscious Capitalism: Liberating the Heroic Spirit of Business, Mackey and Sisodia state, "A good business doesn't need to do anything special to be socially responsible." In fact, a publically owned company is owned by shareholders, not the CEO. Any donated money is not the CEO's personal fortune to do with as he pleases. If he tried to spend corporate money on himself, most would call that stealing. So, what is the rationale for corporate spending on these community events?
2. Discuss the most important aspect is to demonstrate the learning that took place during the week. Additionally, please be sure to include an analysis of the comparison of Conscious Capitalism with Corporate Social Responsibility. define each and demonstrate their similarities and differences. Mackey and Sisodia argue that Conscious Capitalism is a superior approach. Does your team agree or disagree? Explain your findings.. 1. Discuss, investigate, and research the following with your teammates:
Often, community events are sponsored by corporations who claim that the reason they are involved is "to give back" to the community. However, on page 37 of Conscious Capitalism: Liberating the Heroic Spirit of Business, Mackey and Sisodia state, "A good business doesn't need to do anything special to be socially responsible." In fact, a publically owned company is owned by shareholders, not the CEO. Any donated money is not the CEO's personal fortune to do with as he pleases. If he tried to spend corporate money on himself, most would call that stealing. So, what is the rationale for corporate spending on these community events?
2. Discuss the most important aspect is to demonstrate the learning that took place during the week. Additionally, please be sure to include an analysis of the comparison of Conscious Capitalism with Corporate Social Responsibility. define each and demonstrate their similarities and differences. Mackey and Sisodia argue that Conscious Capitalism is a superior approach. Does your team agree or disagree? Explain your findings.. 1. Discuss, investigate, and research the following with your teammates:
Often, community events are sponsored by corporations who claim that the reason they are involved is "to give back" to the community. However, on page 37 of Conscious Capitalism: Liberating the Heroic Spirit of Business, Mackey and Sisodia state, "A good business doesn't need to do anything special to be socially responsible." In fact, a publically owned company is owned by shareholders, not the CEO. Any donated money is not the CEO's personal fortune to do with as he pleases. If he tried to spend corporate money on himself, most would call that stealing. So, what is the rationale for corporate spending on these community events?
2. Discuss the most important aspect is to demonstrate the learning that took place during the week. Additionally, please be sure to include an analysis of the comparison of Conscious Capitalism with Corporate Social Responsibility. define each and demonstrate their similarities and differences. Mackey and Sisodia argue that Conscious Capitalism is a superior approach. Does your team agree or disagree? Explain your findings..
Explanation / Answer
1.
There is a shareholders approach that says that wealth maximization of the shareholders is the ultimate objective of the firm as proposed by Freidman. But, it is important to consider the different stakeholders, around whom a business is run. It is the basis of stakeholder’s theory that proposes that a business should take care of the best interest of all the stakeholders. Here, community serves as one of the most important stakeholders as it faces the challenges of different negative externalities created by the business, provides a potential source of market for goods produced by the firms and the market of input factors that can be employed by the firms. So, it is important for the enterprises to give attention to the communities, their development aspects and put efforts using different channels to resolve issues faced by the communities. There are different rationale also behind the corporation or any organization going for the socially responsible behavior and community development. The first rationale is the significance of healthy and educated community for the corporations in the area of its operation. A healthy and educated community, can better understand the communication of the company and a local acceptability level w.r.t. the company grows as well as a market goodwill and reputation enhances when corporation helps in improving the lives of the community people. The second rationale is the community development initiatives pays back again to the corporations in the form of local provider of skilled and healthy workers and a market for consuming the goods produced by corporation. So investment via community development done today, pays back tomorrow to the corporation. The third rationale is the projection of corporation image in the business environment that also helps in sensitizing the consumers in other parts of the geographical area. For example, Procter & Gamble are announcing in their digital ads that they spend a particular portion of income upon the community development. So, community events for their development has been a conscious and strategic approach to not only help the communities, but also to help themselves.
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