Discussion question

Question

300 hundred words
what businesses should be doing other than being obsessed with making the most profit possible.
See attachment?

kayzer · Answer

Profit maximization is perhaps the most significant objective of business entities globally. The goal of achieving profit is also directly correlated with the need realize shareholders’ wealth maximization. The decisions that firms make are meant to lead towards a clear path of achieving profits which contribute largely to the maximization of the net present value of the investments that have been injected into the business. However, there are other capabilities that businesses can set to practice including social responsibility.   
Social responsibility entails the involvement of a firm in an activity that does not necessarily establish a direct benefit to the business or its shareholders but is set to trigger improvements in the business environment and society as a whole. Social responsibility can be achieved by corporations by carrying out their business in line with their desired approaches as long as the basic rules of the society covered by law and ethical custom are conformed to.   
Social responsibility by corporations has been indicated to have a long term advantage to the business. Therefore, the shareholders wealth maximization could be achieved in the long run through social responsibility (Crowther, 2005). Social responsibility basically creates a positive relationship between the corporation and the society. A business entity with good reputation is set to realize numerous benefits especially in regard to competitive advantage within its industry.   
Social responsibility is also a criterion that is used by investors as inspiration to invest in the companies. Basically, the reputation that arises from the involvement in channeling improvements to the society and the environment establishes great ground to lure in investors as well as new clients. Therefore, it is necessary that corporations put into consideration the interests of other stakeholders, community and the environment. Social responsibility can also contribute towards building up the company brands (Primeaux & Stieber, 1995). This would be of a significant impact since public perception of a company is influential to the customer and investor confidence in the corporation.     
     
 
  
References
  
Crowther, D. (2005). international Dimensions of Corporate Social Responsibility.
  
Primeaux, P., & Stieber, J. A. (1995). Profit Maximization .

Category:	Business
Offered Price:	$12.00
Due Date:	24 January 2019, 15:01
Added:	23 January 2019, 15:46

Price:	12.00
Added:	24 January 2019, 04:15
Words:	345 words
Attachments:	1 file
Buyers:	1 buyer

Discussion question

Secure Payment

We let the professionals process your money

Have a similar question?