SUNY Morrisville Companies Benefit from Being Socially Responsible

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Business Finance

SUNY Morrisville

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What is a social contract, and how does it apply to business?

Do companies benefit from being socially responsible? If yes, in what ways? If no, why not?

Discuss your thoughts on whether or not businesses should go "green"? Should this be regulated, and if so, in what ways?

Read up on the Green New Deal. Is this plan necessary, feasible, etc? Support your positions with specifics from the deal and other research.

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Explanation & Answer

Please find answer.Thank you.

Running head: DISCUSSION

1

Discussion
Name
University Name
Course
Sept 20, 2019

DISCUSSION

2
Discussion

1. What is a social contract, and how does it apply to business?
Answer
A social contract is an implied agreement that is binding the ruling class and the
subjects. The contract defines the rights and obligation of each of these groups. A community
can agree to form a particular form of government that will help them to live in harmony and
in peace. So the system established is aimed at serving all parties.
The stakeholder management approach is grounded in the concept of the social
contract.A social contract can be applied in businesses where society provides a free
environment for its operations. In return, the business will also act responsibly. This is a
technique that increases the good relationships between the business and the society. Further,
with respect to the business, the society can have a role of ensuring that businesses operate.
On the other hand, the business must in return, act responsibly by protecting the society.
There should be no negative externalities.
References
Martin, K. (2016). Understanding privacy online: Development of a social contract approach
to privacy. Journal of Business Ethics, 137(3), 551-569.
Weiss, J. (2014). Business Ethics (6th ed.). California: Berrett-Koehler Publishers.

DISCUSSION

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2. Do companies benefit from being socially responsible? If yes, in what ways? If no, why
not?
Answer
Businesses should follow to be socially responsible. Businesses have a social role of “trustee
for society’s services.” Yes, companies benefit from being socially responsible. When
companies are socially responsible, it means that they perform their duties...


Anonymous
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