Lesson 151 of 1524
Three Special Stakeholders: Society, the Environment, and Government
Despite the ongoing ethical debate, being a good corporate citizen is a goal toward which most contemporary corporations strive.
Practice this chapterDespite the ongoing ethical debate, being a good corporate citizen is a goal toward which most contemporary corporations strive. Adopting sustainability as a strategy means protecting the environment.
While some argue that corporations have a primary duty to maximize profits for the benefit of shareholders, others assert that businesses have a duty to the society in which they operate, a duty that serves as the… Many court cases have addressed the issue, but it has not been conclusively resolved
sustainability — a long-term approach to the interaction between business activity and societal impact on the environment and other stakeholders. good corporate citizen — a goal toward which most contemporary corporations strive. business judgment rule — the principle that officers, directors, and managers of a corporation are not liable for losses incurred when the evidence demonstrates that decisions were reasonable and made in…. corporate personhood — the legal doctrine holding that a corporation, separate and apart from the people who are its owners and managers, has some of the same legal rights and responsibilities enjoyed….
Worked example
What does “sustainability” mean in Three Special Stakeholders: Society, the Environment, and Government?
- 1Use the wording this chapter gives for sustainability.
- 2The book says: a long-term approach to the interaction between business activity and societal impact on the environment and other stakeholders.
- 3Do not use the meaning of good corporate citizen. That term means a goal toward which most contemporary corporations strive.
Result: a long-term approach to the interaction between business activity and societal impact on the environment and other stakeholders
Why. That is the meaning this chapter gives for sustainability.
Do not swap sustainability and good corporate citizen. sustainability means a long-term approach to the interaction between business activity and societal impact on the environment and other stakeholders. good corporate citizen means a goal toward which most contemporary corporations strive.
Practice margin
This chapter
A fresh set from this chapter only. Choose 10 or 20. Multiple choice and fill-in, with no repeat inside the set.