Sample Solution

One of the concepts that made me look at the relationship between business and society differently is corporate social responsibility (CSR). This concept refers to a company’s commitment to being socially responsible by engaging in practices that benefit society such as environmental protection, employee welfare, and community outreach (Gao & Jiang, 2020). By taking on this responsibility, businesses can create positive outcomes not only for their own bottom line but also for communities they interact with. It also helps them build relationships with stakeholders and customers which can be beneficial in the long run.

Another concept that prompted me to view business-society relations differently is ethics in business. Ethics defines how we should act when making decisions or interacting with other people and companies need to conduct themselves ethically if they want to remain successful (Godfrey et al., 2017). Businesses must take into consideration the potential implications of their actions on all stakeholders involved from customers to employees. They should strive for transparency so that everyone knows what is going on and how it may affect them. Additionally, ethical behavior can help foster trust among stakeholders which will lead to more productive interactions between businesses and society as a whole.

Overall, these concepts have opened my eyes to ways that businesses can engage in activities beyond just making profits while still achieving success. By taking on their role as corporate citizens responsibly, companies can ensure long-term sustainability while helping foster positive change within our societies.