1. Role of business in society
... in recognising and incorporating notions of corporate social and environmental responsibility. The following sections offer a brief review of these theories as they pertain to the current discussion. Stockholder (Classic) Theory The "traditional" or "classic" view of business - that the sole purpose of corporations is to maximise profits - has been summarised by James W. McKie [12] along the following lines: 1. Businesses ... , are being asked to contribute more to the quality of American life than just supplying quantities of goods and services. The evolving social contract is in respon...
- Word Count: 2501
- Approx Pages: 10
- Grade Level: Undergraduate