The socioeconomic view of social responsibility is that a ...

[vicky]

The socioeconomic view of social responsibility is that a for-profit organization's responsibility is ________.
 
  A) to maximize stockholder wealth
  B) to maximize both profits and the general welfare
  C) to do what only the law requires
  D) to maximize opportunities for citizens in developing countries

Question 2

Which of the following best summarizes Blake Mycoskie's (the founder of TOMS shoes) business philosophy?
 
  A) A business should be ethical but not socially responsible.
  B) A business should be socially responsible but not ethical.
  C) A business should be both ethical and socially responsible.
  D) A business should not worry about being either ethical or socially responsible.

[frogdreck123456]

Answer to Question 1

Answer: B
Explanation: The socioeconomic position, goes beyond the ideas presented in the classical view, which focused on maximizing profits. According to the socioeconomic view, management's responsibility includes making profits and protecting and improving society's welfare.

Answer to Question 2

Answer: C
Explanation: Blake Mycoskie, the founder of TOMS shoes, puts his money where his philosophy is. TOMS blends charity with commerce in a unique way. For each pair of shoes that TOMS sells, one other pair is donated to a child who needs shoes. TOMS shows that a company can be socially responsible and ethical, yet still make a healthy profit.