Schools of social responsibility Essay

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profit school
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-businesses sole purpose is to make a profit -unintended consequences? too bad -ex: smaller companies get put out of business
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managerial school
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-when a corporation should balance conflicting interests -most have the trust of many groups (unions, consumers, regulators) -maximizes profits but ignores groups then the corporation won’t survive -EX: Tylenol
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institutional school
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-when corporations have a responsibility to act in a manner that benefits all of society -civil and criminal sanctions that apply to individuals should apply to corporations
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regulation school
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-when corporations cannot be trusted to act in a socially responsible manner -so, establish reasonable regulations for a certain activity, then let the competition begin! -EX: flamable baby clothing
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professional school
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-corporate officers have a responsibility to the public beyond profits -they must be qualifies and lisenced

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