BUS 3166 Stanford Business & Society Stakeholders Ethics & Public Policy Discussion

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Writing

BUS 3166

Stanford University

BUS

Description

This is a midterm exam assignment, answer the following questions with critical thinking and based on the course material.

Here is the link to the textbook: Business and society. please find the keyword of the question from Chapter 1- Chapter 4 before you start writing, no outside resources are allowed to appear, only use the textbook please.

here is the instruction:

Your score on each question will be determined primarily by two factors: (1) use of course material (i.e., incorporating ideas and concepts from course readings and lectures) and (2) evidence of critical thinking (e.g., showing an understanding of multiple sides of an issue). Prose should be clear and concise. Answers should be written in your own words. Plagiarism of any kind will not be tolerated.

Finally, please note that, since you will be evaluated based on your use of course material, consulting outside sources is prohibited. By outside sources, I mean anything other than the textbook, your notes, and my lecture slides. I want to see you make arguments using the material available in our assigned reading. You don't have to agree with the arguments presented in the textbook and/or lecture, but I do expect you to acknowledge and engage with them where appropriate.

Questions:

  1. Do you agree that companies should create value for all their stakeholders, including shareholders, employees, customers, governments, and the communities in which they operate? Explain your reasoning.
  2. Respond to the following statement: “Effective stakeholder engagement makes firms more competitive.”
  3. Respond to the following statement: “In the long run those who do not use power in ways that society considers responsible will tend to lose it.”
  4. In your opinion, should companies embrace the idea of corporate social responsibility? Explain your reasoning.
  5. When we add up all the costs and benefits, is society better off as a result of globalization? Explain your reasoning.

Rubric:

Exceptional (20 points) = Makes a strong argument with skillful use of ideas and concepts from course readings. Writing is clear and concise.

Very good (18 points) = Makes a strong argument using ideas and concepts from course readings. Detail may be lacking in some areas. Writing is clear but may contain spelling or grammatical mistakes.

Good (16 points) = Makes a strong argument using ideas and concepts from course readings. Important details may be lacking in some areas. Writing is clear but may contain spelling or grammatical mistakes.

Acceptable (14 points) = Argument answers the question but neglects important ideas or concepts from the course readings. Writing may lack clarity and/or contain spelling or grammatical mistakes.

Poor (12 points) = Argument fails to answer part or all of the question and neglects important ideas or concepts from the course readings. Writing may lack clarity and/or contain numerous spelling or grammatical mistakes.

Missing or unacceptable (0 points) = Argument is missing, does not utilize ideas and concepts from course readings, or is not in the author’s own words.

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Explanation & Answer

Completed the assignment.

Name:
Institution:
Outline for Business and Society
1. 1st Paragraph


Value Creation for Stakeholders

2. 2nd Paragraph


Stakeholder Engagement

3. 3rd Paragraph


Iron law of Responsibility

4. 4th Paragraph


Corporate Social Responsibility

5. 5th Paragraph


Globalization


Running head: BUSINESS AND SOCIETY

Business and Society
Students Name
Institution Name

1

BUSINESS AND SOCIETY

2
Value Creation for Stakeholders

Based on the shareholder theory of the firm, an organization or company is often viewed as
the property of its owners. Therefore, a company's primary role is to maximize its long-term
market value, which implies that a company has to make the most money in the market for its
shareholders. Shareholders are considered the owners of a business since they own stock in a
company. Based on their input, shareholders expect returns, and companies have to create value
for their shareholders. However, it is essential to note that all shareholders are stakeholders, but
not all stakeholders are shareholders. In a contrasting view to the ownership theory, there is the
stakeholder theory of the firm. This theory argues that companies serve a comprehensive public
function which is creating value for society.
All companies indeed have to c...


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