Book Summary: Business and Society: Ethical, Legal, and Digital Environments
In "Business and Society: Ethical, Legal, and Digital Environments," the authors delve into the complex landscape of modern business, exploring the intricate interplay between ethical considerations, legal frameworks, and the digital revolution. Through real-world cases and in-depth analysis, the book equips students with a comprehensive understanding of the challenges and opportunities inherent in today's interconnected global economy.
The text begins by laying the foundation for understanding the intersection of business and society, emphasizing the importance of ethical conduct and legal compliance in navigating contemporary business environments. It addresses the evolving dynamics shaped by social media, citizen movements, big data, hacking, and privacy concerns, highlighting the transformative impact of technology on organizational-consumer relationships.
One of the book's key strengths lies in its provision of concrete recommendations for innovating management education, bridging the gap between theoretical learning and practical application. Through a special cross-country study, the authors identify common challenges and management development needs across diverse cultural contexts, offering valuable insights for educators and practitioners alike.
Additionally, the book emphasizes the critical role of business organizations in contributing positively to society and stakeholders. It underscores the importance of integrity in business conduct and examines how businesses can effectively engage with customers, employees, government entities, and other stakeholders on local and international scales.
Structured into three parts, the book systematically guides students through essential topics for succeeding in the modern workplace. It covers foundational concepts of business-society relations, career competencies such as writing skills and career development strategies, and interpersonal dynamics including teamwork, leadership theory, and cross-cultural collaboration.
The second edition of "Business and Society" incorporates updated content, revised learning objectives, and new case studies, reflecting the dynamic nature of contemporary business environments. Notably, it places renewed emphasis on supply chain management, underscoring the importance of ethical sourcing and sustainability practices.
"Business and Society: Ethical, Legal, and Digital Environments" serves as a practical guide for undergraduate students pursuing business studies. By fostering a deeper understanding of ethical dilemmas, legal responsibilities, and digital disruptions, the book equips future professionals with the skills and awareness needed to navigate the complexities of the modern workplace while striving for meaningful societal impact.
In an increasingly networked and interdependent global economy, the relationship between business and society is becoming increasingly complex. Business and Society 17th Edition: Stakeholders, Ethics and Public Policy uses the latest research to address challenges facing business organizations and their stakeholders. This text builds on the legacy of market leadership by revisiting key issues.
I bought this book for a business course called Business & Society. I think this book was very helpful during my study abroad. The chapters aren't too dry and the material on the topic stays invested in the topic.My professor assigned each group in the class a case her study and presented it in class. I love case studies because they give me background information about specific companies that I'm interested in. I plan to keep this book as a reference for writing my dissertation after completing the program. I recommend this book to anyone in need of a similar course on corporate social responsibility and sustainability.
This book was a must-have for the class. Arrived on time, but much less than the school wanted. I like loose 3 rings she binders. Because they tend to cost less and have binders that rotate between classes. Cable ties are great for reselling or gifting to friends when finished.
The only thing I didn't like was that the hardcover and pages were separated with the spine intact. It was an aesthetic issue. After the repair it was like new and worked.
The book arrived very damaged. The binding of the book is 100% separated from the hardcover. Luckily, the pages themselves were intact, so I was able to re-glue the covers and pages back together. I give him 2 stars because it still works, but I was very upset when I first received the textbook. I would like to give this product a 0 if possible. I needed this textbook for my class this semester and it literally fell apart out of the box. I always buy books from Amazon, but I was disappointed with this one. Shameful and a waste of money!
What are the concepts of economy and society?
A successful business must meet all economic, social and environmental goals. In this way, the economy and society form a two-way social system. Each needs the other and influences the other. They are so intertwined that the actions of one will surely affect the other.
Profits are important, but today we know a lot more about how companies contribute to society. Great companies bring innovation to market, which drives company growth. Innovative and growing companies generate economic growth and jobs, and greatly improve people's lives.
Business is expected to create wealth and jobs, and society is expected to provide an enabling environment for business to thrive. The values and ethical standards adopted by a company are the long-term assets of an organization.
The correct answer is job creation. A company's social goal is also to provide employment to society.
The challenges of business issues in society arise in many different contexts. These include law, regulation, investigation, enforcement, litigation, ethics, reputation, crisis management, corporate citizenship, and pressure from officials, NGOs and the media.
Local businesses boost local trade and the region's economy by creating local jobs. People are working closer to home and their quality of life is improving. Companies in one sector need to encourage the growth and development of other companies. This will ensure that the region remains competitive and attractive to consumers.
Society is simultaneously the environment of existence and the sphere of life activity of its representatives of individuals, and, consequently, is the sphere of application of the actions of these individuals, which includes business.
At the same time, it should be taken into account that not all activities of individuals affect the sphere of business, which implies business as a component, but not the only part of the life activity (existence) of society as a whole.
But it is safely possible to assert that business as an activity of an individual, which is a way of development of an individual in this or that direction, is the main part of society existence.
Consider the example of a clock, where the clock as a whole is society. A clock has a gear mechanism, a dial, hands, and a lever to wind it. The business is precisely the lever for winding the clock, in the absence of which, or in not using it, everything else can be seen in parts as whole and complete, the general purpose of the whole mechanism can be guessed at, but it will not act .
It is only with the winding of the clock in the pursuit of development by the direct or indirect participation in business of all individuals that all parts of society's clock will perform their functions, i.e., act as a coherent mechanism .
Society without the development of business has no possibility of its own development. Everything surrounding an individual at the present time is the fruit of the business activities of other individuals either at the present time or in the past.
The perfection of technology, the appearance of new goods, construction, leisure, the appearance of new directions in science and learning, professional activity are all components of the results of individuals' business, which, while serving as a source of gaining profit for some, are the environment of existence for others, i.e. the sphere of life activity of society itself as a whole.
Society simultaneously benefits from the results of business and gives new directions in the development of business. The development of one individual's business depends on how timely and in what direction he finds this or that segment of the market, which is not filled by others and at the same time is a need of society in this direction.
Commodity, technological or intellectual vacuum, timely guessed as a field of application of one individual's business, is at the same time a necessary part of further development of society.
Legal fixation in our country of private property privatization of enterprises appearance of shares appearance of investment institutions appearance of depositories, exchanges, brokerage offices - all these are links of one chain, behind which the notion of "financial market" is fixed in the society. One entails the other, business as a general direction of activity is growing, requiring the participation of a growing number of individuals involved in this area.
Both the CEO and the courier are new filled jobs, the activation of each of the individuals in which leads to additional opportunities: within one enterprise for its expansion and coverage of more and more areas of activity, for society as a whole to attract more of its members of individuals to participate in the business.
As the sphere of activity in business expands, the individuals participating in it begin to specialize in any direction, accordingly enabling other individuals to participate in business in adjacent directions of activity, and at the same time developing and enlarging the sphere of business in the chosen area, which in turn leads later to its fragmentation and specialization of individual individuals. This process is endless as long as society itself develops.
Thus, the activities of an individual, as a representative of society, in business are linked to the similar activities of other members of society, and, accordingly, are interconnected with the activities of society as a whole. On the other hand, society is entirely dependent on the success of its representatives in business, as their activities allow society as a whole to develop.
Every action in the business of an individual has three points of reference. First, it is his personal interest in profit and further development of his business. Second, his dependence on the business (activity) of other individuals, and their assessment of his own business. Third, his continued presence in society as a representative of society, benefiting from his activities, and as a representative of his business, the results of which serve society.
On the ability of each individual to connect these three questions depends his own stay in society and whether his business develops or not.
PART ONE: Business in Society
Chapter 1: The Corporation and Its Stakeholders
Chapter 2: Managing Public Issues and Stakeholder Relationships
Chapter 3: Corporate Social Responsibility and Global Citizenship
Chapter 4: Business in a Globalized World
PART TWO: Business and Ethics
Chapter 5: Ethics and Ethical Reasoning
Chapter 6: Organizational Ethics
PART THREE: Business and Public Policy
Chapter 7: Business–Government Relations
Chapter 8: Influencing the Political Environment
PART FOUR: Business and the Natural Environment
Chapter 9: Sustainable Development and Global Business
Chapter 10: Managing for Sustainability
PART FIVE: Business and Technology
Chapter 11: The Role of Technology
Chapter 12: Regulating and Managing Technology
PART SIX: Business and Its Stakeholders
Chapter 13: Shareholder Rights and Corporate Governance
Chapter 14: Consumer Protection
Chapter 15: Employees and the Corporation
Chapter 16: Managing a Diverse Workforce
Chapter 17: Business and Its Suppliers
Chapter 18: The Community and the Corporation
Chapter 19: Managing the Public and the Corporate Reputation
CASES IN BUSINESS AND SOCIETY
1. Failure by Design: Boeing and the 737 Max
2. Profiting from Pain: Business and the U.S. Opioid Epidemic
3. Banning American Parts in Chinese Mobile Phones: Economic Sanctions,
Political Influence, and Trump’s Trade War
4. BP Blowout: The Aftermath of the Gulf Oil Disaster
5. Wells Fargo’s Unauthorized Customer Accounts
6. The Upper Big Branch Mine Disaster
7. Starbucks at the Airport: Discrimination in Public Spaces
8. Nestlé and Child Labor in the Cocoa Supply Chain
9. The Boycott of Stoli Vodka
Anne T. Lawrence is Emeritus Professor of Management at San Jose State University. She holds a doctorate. from the University of California at Berkeley and completed two years of postdoctoral studies at Stanford University. His articles, case studies and reviews have appeared in numerous journals, including Academy of Management Review, Administrative Science Quarterly, Case Research Journal, Journal of Management Education, California Management Review, Business and Society Review, Research in Corporate Social Performance and Policy, and Journal of Corporate Citizenship. His cases in business and society have been reprinted in numerous textbooks and anthologies. She was guest editor of the Case Research Journal. She served as president of the North American Case Research Association (NACRA) and the Western Case writers Association and is a member of NACRA, from which she received a Distinguished Contributor Award in 2014.
James Weber is a professor of management and business ethics at Duquesne University. He is also Executive Director of the Institute for Ethics in Business and coordinates the Master of Science in Leadership and Business Ethics program at Duquesne. He holds a doctorate. from the University of Pittsburgh and has taught at the University of San Francisco, University of Pittsburgh, and Marquette University. His areas of interest and research include managerial and organizational values, cognitive moral reasoning, business ethics, ethics training and education, ethics of Eastern religions, and auditing and performance. corporate social. His work has been published in Organization Science, Human Relations, Business & Society, Journal of Business Ethics, Academy of Management Perspectives and Business Ethics Quarterly. He received the SIM Sumner Marcus Award for lifetime contribution to the Social Issues in Management division of the Academy of Management in 2013, and the Best Reviewer Award from Business & Society in 2015.
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