Posted: August 11th, 2022

Why should we care? Do we care?

This term we are going to learn a great deal about the positive outcomes of business. There are many both extrinsic and intrinsic rewards. Wealth, employment, increased standard of living, pride of ownership for entrepreneurs, etc.

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Businesses have many responsibilities and stakeholders. It’s not simply their stockholders/owners or their customers they must address. As a business person, why do you care about your stakeholders and community beyond your customers? There are costs associated with social responsibility. Does that matter? Some companies attract a great deal of negativity about their products. Should they care? Are there benefits to businesses engaging in social initiatives? Does it matter if they are sincere or not?

They are rhetorical to get you thinking about this topic: Stakeholders, Social Responsibility. There are no right or wrong answers for this discussion. It will morph as your classmates start replying. Some of you may give examples of companies with either positive or poor social engagement. Others might highlight their own plans if they had a business. You can also be a contrarian. 

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