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Role of Business' Social Responsibility Central to Advertising

1. Why is the role of business' social responsibility so central to the question of advertising?
2. Discuss the relationship between bioethics and absolute liability. What implications does this relationship have for business?
3. Evaluate the differences between the old and new social contracts between employer and employee. Does one seem more fair than the other? If so, why?
4. Knowing the pros and cons of drug testing, is it justified? Make a case to support your answer.
5. Which of the four affirmative action postures you think is most appropriate today? Why?

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1. Why is the role of business's social responsibility so central to the question of advertising?

Business is responsible for maximizing shareholder's wealth. Apart from responsibility towards owners, there is other group called stakeholders who are affected by the behavior of firm. The problem with this corporate social responsibility perspective is that if the company is just focused on pleasing all stakeholders, it will go out of business.

Social responsibility for a business is integrating interest of all stakeholders into business policies and actions. When business is engaged in voluntary CSR, it is nothing more than corporate advertising that makes consumers aware of what products are there in market and what are their features. When businesses advertise its social responsibility, consumers are more willing to pay a premium for its goods and services. When a business voluntary gets involved in social responsibilities it is doing so to advertise it behavior, differentiate its products, increase market share, and increase profits. Why would company use advertising unless it increases revenue? Just because advertising comes in the form of social responsibility does not mean that it is in any way less than typical advertising. It does not mean that the behavior of business has changed because of social responsibility, it just means that there has been increased advertising to get the attention of customers.

2. Discuss the relationship between bioethics and absolute liability. What implications does this relationship have for business?

Bioethics deals with ethics in biotechnology. Biotechnology is a new field which uses technology to benefit human race. Absolute liability means that companies can be held liable for harm their products cause to consumers. It applies even if the company was not aware that their products ...

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The solution discusses the role of business' social responsibility central to advertising.

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