Business and Society

Warren Buffet once said, “It takes 20 years to build a reputation, and five minutes to ruin it.” Why do you think ethics is so important? What can a manager do to make ethics work in any of the company?

by
Warren Buffet once said, “It takes 20 years to build a reputation, and five minutes to ruin it.” Why do you think ethics is so important? What can a manager do to make ethics work in any of the company?

Ethics is the foundation of trust and success in any organization. It ensures that a company operates with honesty, fairness, and respect, which builds strong relationships with customers, employees, and the public. As Warren Buffet said, a good reputation takes years to build but can be ruined in minutes by unethical behavior. For example, lying, … Read more

How do you evaluate the impact of ethics on Business and Society? Elucidate

by
How do you evaluate the impact of ethics on Business and Society Elucidate

Assessing the influence of ethics on business and society requires an examination of how ethical practices shape organizational choices, public confidence, economic outcomes, and the overall social structure. The following is a comprehensive analysis: Corporate Reputation and Trust Business Impact: Ethical conduct fosters a favorable reputation for organizations, which in turn enhances customer loyalty, employee … Read more

How Do Shareholder Value Theory and Stakeholder Theory Differ?

by
Shareholder vs. Stakeholder Theory: Key Differences

QUESTION : Shareholders’ interest and stakeholders’ interest are always being a matter of discussion in business houses. In your opinion, how do shareholder’s value theory and stakeholder theory of the firm differ? Answer: The discourse surrounding the interests of shareholders versus those of stakeholders represents a significant aspect of corporate governance and business ethics. The … Read more

Define the ‘Sustainability’. Do you think of CSR as a means of Sustainability? Explain with a suitable example

by
Define the ‘Sustainability’. Do you think of CSR as a means of Sustainability? Explain with a suitable example

Sustainability refers to the capacity to fulfill the needs of the current generation while ensuring that future generations can also meet their own needs. It emphasizes the importance of achieving a harmonious balance among economic development, environmental conservation, and social welfare. The concept of sustainability encompasses the responsible management of resources, minimizing waste, promoting social … Read more

What do you mean by Corporate Citizenship? Explain the five stages of developing Corporate Citizenship

by
What do you mean by Corporate Citizenship? Explain the five stages of developing Corporate Citizenship

Corporate Citizenship encompasses a company’s obligation to make a positive impact on society, the environment, and the economy. This concept extends beyond mere legal adherence, emphasizing the importance of ethical business conduct, enhancing community welfare, and promoting sustainability initiatives. A company that embodies strong corporate citizenship incorporates social, environmental, and economic factors into its operations, … Read more

Compare and contrast shareholder value theory and stakeholder theory. Which one is superior and why?

by
Compare and contrast shareholder value theory and stakeholder theory. Which one is superior and why?

Following are the comparisons and contrasts between Shareholder Value Theory and Stakeholder Theory, along with an analysis of which one is superior and why: Shareholder Value Theory Definition: This theory, which gained prominence through the work of Milton Friedman, posits that a business’s foremost obligation is to enhance shareholder wealth while complying with legal and … Read more

Define CSR. Explain the pyramid of corporate social responsibility

by
Define CSR. Explain the pyramid of corporate social responsibility

Corporate Social Responsibility (CSR) refers to the commitment of businesses to operate in an ethical and sustainable manner while contributing to economic development, environmental stewardship, and social welfare. This concept encompasses the integration of social, environmental, and ethical considerations into business operations, aiming to generate a positive impact on various stakeholders, including employees, customers, communities, … Read more

What are the benefits of CSR to business and society? Discuss the major drivers of CSR in the developing countries like Nepal.

by
Corporate Social Responsibility: Benefit to Business, Society

Corporate Social Responsibility (CSR) encompasses the obligation of businesses to operate ethically, support economic growth, and enhance the well-being of employees, communities, and society as a whole. CSR fosters a symbiotic relationship that yields substantial advantages for both enterprises and the broader community. Advantages for Businesses Improved Brand Image CSR initiatives enable companies to cultivate … Read more

Define corporate governance. Explain the impact of corporate governance on business and society.

by
Define corporate governance. Explain the impact of corporate governance on business and society.

Corporate governance is the system that defines how a company is managed and controlled. It involves rules and practices that ensure a company is run in a fair, responsible, and transparent way, keeping the interests of everyone involved in mind like the owners (shareholders), employees, customers, and the community. Good corporate governance helps a company … Read more

Define Corporate Governance. Explain the relevance of Corporate Governance. Do you think better governance practices boost corporate performance? Give your point of view.

by
Define Corporate Governance. Explain the relevance of Corporate Governance. Do you think better governance practices boost corporate performance? Give your point of view.

Corporate Governance is a system that helps run a company in a fair, transparent, and responsible way. It ensures that the company is managed in the best interests of everyone involved, such as shareholders, employees, customers, suppliers, and the community. Good corporate governance includes rules and practices to make sure the company operates ethically, follows … Read more