Role of business in our society

Mindmap for BA432

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Role of business in our society by Mind Map: Role of business in our society

1. Human Rights: businesses support fair trade and ethical suppliers.

1.1. READING-Businesses are thriving: This article brought to light the shift if attitude in businesses. Businesses are beginning to put effort into enriching the lives of employees and stakeholders.

1.1.1. Enviromental sustainability:climate change, resource usage,pollution, water scarcity.

1.1.2. Economic fairness: CEO compensation, living wage, income security, unions

1.1.3. Corporate Power and Control: industry concentration, market power, anti-trust, policy influence.

1.1.4. Consumer Protection: Data protection, security, ownership, identiity.

1.1.5. National Security and Nationalism: Off shore jobs, domestic vs international, intelectural property.

1.2. My Personal Opinion: I support this role for businesses. I believe companies should use their financial power to promote equity for all stakeholders

2. CEO values: values are diffrent than the products sold.

2.1. READING: CEOs as activists: The article mentioned that 2/3 of respondents from a Harvords studied said they want CEOs' to take action on current issues through policy.

2.1.1. CEOs should act when it is authentic

2.1.2. CEOs should act on values to connect with the millennial workforce. This generation will make financial choices based on company values.

2.1.3. CEOs should act because it is the right thing to advance the company.

2.2. Reading-Busineses are thriving: 1 of the 6 issues that will defind corperate citizenship are social issues like gun control, religon, identity politics

3. Sole-capitalistics values: businesses focus on producing money for short and long term purposes

3.1. READING-Walmart almost charged: This article exposed Walmart pharmacies pushing to fill prescriptions pain medication to suspicious clients.

3.1.1. Pharmacist/ Walmart made money on filled prescriptions despite the degradation of the community members.

3.1.2. Members were getting prescriptions sent to multiple Walmart locations, which is suspicious behavior.

4. Enriching communities: busineses provide livabale wages, plant treee, help community members

4.1. READING-Business Round Table: This article defined the purpose of a corporation. The objective is to promote generating jobs, so a robust and stable economy, innovation, a healthy environment, economic opportunity for all.

4.1.1. Value to customer- needs and expectations

4.1.2. Investing in employees: benifits,skills,respect, dignity

4.1.3. Supporting communities in which a business operates

4.1.4. Generate long term value for shareholders- transparency, engagement.

4.2. My Personal opinion: I agree with this as a role of business. Businesses should promote equity for their employees, community members, and stakeholders.