1. Business of business
A business is an organisation engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, in which most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned.
The table below shows the businesses of businesses that are general and apply to any sector:
Create shareholder value | Shareholders are prominent of CSR |
A rapidly growing business and CSR | Rather than fuzzy movements for CSR |
Build good relations with customers | Rather than increasing profits |
identify consumer needs or wants | Produce goods efficiently |
Supply goods and services to consumers | Obtain a profit and maintain profit levels |
Give back to society(voluntarily) | Gain consumer’s loyalty |
* Values – a person’s idea of what is right and wrong or what is important in life.
* morals – principles or standards of good behavior especially in matters of sex or a study of human behavior as a consequence of beliefs about what is right or wrong, or good or bad, insofar as that behavior is useful or effective. It implies conformity to established sanctioned codes or accepted notions of right and wrong <the basic moral values of a community.
* Norms – "the rules that a group uses for appropriate and inappropriate values, beliefs, attitudes and behaviors. These rules may be explicit or implicit. They have also been described as the customary rules of behaviour that co-ordinate our interactions with others.
* Traditions – A mode of thought or behavior followed by a people continuously from generation to generation; a custom or usage
* Beliefs – the feeling that something is definitely true or definitely exits or is to have confidence in the truth, the existence, or the reliability of something, although without absolute proof that one is right in doing so: Only if one believes in...