Ethics/Stakeholder Management The Pyramid Of Thesis

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Ethical standards are myriad but some examples can be paying a fair wage, competing fairly, and ensuring that the company does not market a harmful product. Philanthropic refers to the organization's obligations with respect to charity - for example donating some of its revenues to charitable causes, or becoming involved in large charity runs or other significant events. 4. The major social environment factors in business criticism are affluence, education and awareness. Affluence buys the means and the time to criticize. Education provides the basis for understanding the impacts of business. Awareness is taking the time to learn about the issues and apply the education to the cues in the world,...

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Each of these factors supports one another. Education and affluence are correlated, but more importantly the two provide people with the capacity to criticize business. Impoverished people have direct daily concerns and the uneducated will not be able to draw appropriate conclusions about the impacts of business. Awareness without education leads to illogical conclusions - it does not necessarily diminish criticism but it makes for criticism that is less insightful and easier to dismiss. Awareness, education and affluence therefore work together to provide people with the knowledge, the insight and the financial ability to actively criticize business.

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