ZYX Ltd. deals in health drinks. It is found that there are components of pesticides in their drinks. Mention which 2 kinds of responsibilities and 2 values are missing from this approach.
ZYX Ltd. deals in health drinks. It is found that there are components of pesticides in their drinks. Mention which 2 kinds of responsibilities and 2 values are missing from this approach.
Two kinds of responsibility are as follows:
1. Ethical Responsibility: Behaviour that is expected by society but not codified in law. There is an element of voluntary action in performing this responsibility.
2. Legal Responsibility: Every business has a responsibility to operate within the laws of the land. A law abiding enterprise is a socially responsible enterprise as well.
Two kinds of values are as follows:
1. Social Value: A firm and its image stands to gain maximum profits in the long run when it has its highest goal as ‘service to society'. It is in its own interest if a firm fulfills its social responsibility. The public image of any firm would also be improved when it support social goals which is missing in the company.
2. Professional value: The ethics of profession bind managers to social values and growing concern for society. A society with fewer problems provides better environment for a firm to conduct its business. Lack of professionalism creates more problems.
Two kinds of responsibility are as follows:
1. Ethical Responsibility: Behaviour that is expected by society but not codified in law. There is an element of voluntary action in performing this responsibility.
2. Legal Responsibility: Every business has a responsibility to operate within the laws of the land. A law abiding enterprise is a socially responsible enterprise as well.
Two kinds of values are as follows:
1. Social Value: A firm and its image stands to gain maximum profits in the long run when it has its highest goal as ‘service to society'. It is in its own interest if a firm fulfills its social responsibility. The public image of any firm would also be improved when it support social goals which is missing in the company.
2. Professional value: The ethics of profession bind managers to social values and growing concern for society. A society with fewer problems provides better environment for a firm to conduct its business. Lack of professionalism creates more problems.
