Week 8: Society and business
2. Ethical business practices are important as it will affect their relations with society. Unethical practices such as unfair labor policies or neglecting environmental regulations can damage a business’s reputation and lead to decreased consumer confidence or boycotting of certain products from customers who do not want to support these types of companies.
3. Diversity & Inclusion: Promoting diversity within a company contributes significantly towards forming positive relationships between business and society as it demonstrates respect for different perspectives and backgrounds while also creating new opportunities for both employees and consumers alike. In today’s increasingly globalized world, having an inclusive culture is essential for any organization wishing to make meaningful connections with its stakeholders around the world.