Question

ummarize two new areas of knowledge you have gained from taking this course. Discuss the manner in which these two new areas of knowledge will benefit you in your current or future career. Course is business & society Subject are Business in society and Business in ethics

Answer 1

answer:

as my manner i can explain below

• Business and society are interwoven and can't be separated, because business has grown from the society, uses the resources of the society and finally gives back the benefits to the society.
• Business ethics are set of rules that each company has set for itself for how it will behave and take decision.
• As the main objective of the business is to increase the stakeholder value, the welfare of the society often takes the backseat. This impacts the society adversely.
• Business is an entity that is established with a special objective of doing activities in certain areas and earning value for its stake holders. The business is separate from its promoters and stakeholders.

1. The business entity that is established to carryout business activities is known as company.

2. Thus the concept of business ethics and corporate governance have become important in the recent past.

3. Business ethics is a set of rules that the company makes for itself and guides itself while taking any critical decision that impacts society.