M5 (R) Follow-Up Response

NEED FOLLOW-UP RESPONSE 2 - 3 PARAGRAPHS WITH 1 REFERENCE.

ORIGINAL QUESTION:

Assignment 2: Discussion—Business as an Agent of World Benefit

Access the World Inquiry's Innovation Bank Web site from this module’s readings. Then, read at least five mini case studies where companies made money by serving societal needs.

Tasks:

On the basis of the cases that you read, answer the following question:

1. Is the business as an agent of world benefit (BAWB) an academic fad or a change in business principles? Why?

STUDENT RESPONSE:

Is the business as an agent of world benefit (BAWB) an academic fad or a change in business principles? Why?

According to the cases provided by the website, BAWB can be termed as a change in business principle. The cases show that business is now taking center stage to address societal needs. The main reason for this approach is to try and enhance the conditions of their suppliers from which the quality of their products can be assured. Normally, these changes are applied in the long term, and a lot of organizations follow up on them. More than half of the cases provided in the website seem to target their suppliers or entities around their suppliers by improving their working conditions and terms to make them feel like part of the company. This is a strategic measure for businesses and shows a change in business principles.

References

Livingstone, John, and Grossman, Theodore. The Portable MBA in Finance and Accounting. 4th ed., Wiley, 2009.

Case Western Reserve University. (2010). Retrieved from https://worldinquiry.case.edu/bankSearchBySocietalBenefitItems?idTheme=10

NEED FOLLOW-UP RESPONSE 2 - 3 PARAGRAPHS WITH 1 REFERENCE.