Elishipa Mugo
3 days ago
Write short notes on the following terms as used in Principles of Management: social responsibility of business, ethics, globalization. Each is worth three marks.
In University bachelor of public administration and leadership
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ChatGPT
3 days ago
Social responsibility of business: This refers to the idea that businesses have a responsibility to act in ways that benefit society, not just their own bottom line. This can include actions such as being environmentally conscious, treating employees fairly, and giving back to the community. Companies that prioritize social responsibility are often seen as more ethical and trustworthy by consumers.
Ethics: Ethics refers to the moral principles that guide decision-making and behavior. In the context of management, ethical behavior involves making decisions that are fair, honest, and in the best interest of all stakeholders. Ethical management practices can help build trust with employees, customers, and the community, leading to long-term success for the organization.
Globalization: Globalization is the process of increased interconnectedness and interdependence among countries, economies, and cultures. In the context of management, globalization has led to new opportunities and challenges for businesses. Companies must now navigate diverse cultural norms, different legal systems, and varying economic conditions in order to succeed in the global marketplace. Effective management in a globalized world requires a deep understanding of these complexities and the ability to adapt to changing circumstances.
Ethics: Ethics refers to the moral principles that guide decision-making and behavior. In the context of management, ethical behavior involves making decisions that are fair, honest, and in the best interest of all stakeholders. Ethical management practices can help build trust with employees, customers, and the community, leading to long-term success for the organization.
Globalization: Globalization is the process of increased interconnectedness and interdependence among countries, economies, and cultures. In the context of management, globalization has led to new opportunities and challenges for businesses. Companies must now navigate diverse cultural norms, different legal systems, and varying economic conditions in order to succeed in the global marketplace. Effective management in a globalized world requires a deep understanding of these complexities and the ability to adapt to changing circumstances.
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Google Gemini AI
3 days ago
Social Responsibility of Business
- Obligation of businesses to consider the social and environmental impact of their operations
- Includes addressing issues such as environmental sustainability, worker welfare, and community involvement
- Encourages businesses to contribute positively to society while minimizing negative effects
Ethics
- Principles of conduct that define what is right and wrong
- Guides decision-making in organizations to ensure fair, honest, and responsible practices
- Promotes integrity, transparency, and accountability at all levels
Globalization
- Interconnectedness of businesses, economies, and societies across national borders
- Enables businesses to reach new markets, access resources, and expand operations
- Presents challenges such as cultural diversity, regulatory compliance, and economic instability
- Obligation of businesses to consider the social and environmental impact of their operations
- Includes addressing issues such as environmental sustainability, worker welfare, and community involvement
- Encourages businesses to contribute positively to society while minimizing negative effects
Ethics
- Principles of conduct that define what is right and wrong
- Guides decision-making in organizations to ensure fair, honest, and responsible practices
- Promotes integrity, transparency, and accountability at all levels
Globalization
- Interconnectedness of businesses, economies, and societies across national borders
- Enables businesses to reach new markets, access resources, and expand operations
- Presents challenges such as cultural diversity, regulatory compliance, and economic instability
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