Question 1
The most important social change is the introduction of new technologies such as computers has led to a more informed and digital generation. Byrum observes that the “widespread diffusion of information communication technologies has helped quicken the pace of globalization.” There are many social changes in the way of living. Community and work life have changed as there is a need to adapt to the constantly changing technologies. Digitization has presented opportunities and intense pressures at the same time on American families. Automation has taken over the financial industry, transport industry, education, and health sector. However, automation of manufacturing industries and places of work has led to increased unemployment. Technology can also easily disrupt social relationships among individuals. Children are prone to access content that has an adverse effect on their well-being. Some of the benefits include ease of communication among distant family members and friends.
Question 2
The Battle of Seattle presented a social movement that led to reforms on trade policies during the World Trade Organization meeting in Seattle. “Most people were pro-democracy activists protesting at the dangerous unfairness of the current model of free trade” (Shah). Demand for equality in trade policies for developing countries and the removal of corporate free trade formed the drive of the Battle of Seattle. People from various walks of life and leaders turned up for the protests. These included human rights groups, religious leaders, students, labor rights activists, and environmental groups to fight against trade exploitation. The Battle of Seattle involved a large number of individuals that resisted corporate domination in trade policies. Therefore, it demanded reforms on trade policies to make laws that were inclusive of all including developing nations.
Question 4
Homeland Security aims to prevent acts of terrorism within the United States. Department of Homeland Security website states, “With honor and integrity, we will safeguard the American people, our homeland, and our values” (Homeland Security). It is their mission to protect American citizens from terror on their soil and safeguard American values. Homeland security works in partnership with the community in preserving American society. They have programs such as the If You See Something, Say Something program and the NTAS, National Terrorism Advisory Board, which communicates with various stakeholders. Stakeholders include the public, first responders, government agencies, airports, public sector organizations, and different transportation hubs. Therefore, Homeland Security acknowledges the role played by the state, locals, and the federal government in preventing terror activities on American soil.
Question 5
Regulation of industries promotes healthy competition and protects consumers from abuses by corporates. “Every regulation is developed under slightly different circumstances” (Environmental Protection Agency). The regulatory process starts with an act of Congress, followed by the passing of the bill in both houses of Congress, and becomes law when signed by the President. The appropriate regulatory agency is tasked with making specific rules on provisions of the law. The FDA and Tobacco regulation case led to the establishment of the Family Smoking Prevention and Tobacco Control Act. U.S. Food and Drugs Administration state that, “This Act gave the agency authority to regulate the manufacturing, distribution, and marketing of tobacco products.” Some of the benefits included the requirement for health warnings, and restriction of youth access to prevent health risks to the public.
Question 6
Models of business-government-society relationship include the market capitalism model and the stakeholder model. Market capitalism is founded on the principle that “government intervention in the market is undesirable” (Steiner and Steiner 11). The strengths of the market capitalism model include limited regulation by the government and business competes freely. However, its weaknesses include a lack of government control that leads to social and environmental concerns. The companies are out of control and have little regard for business virtues or ethics. Market capitalism leads to the widening of the inequality gap. The stakeholder model considers the effect of its decision on various parties. Also, it recognizes the ethical duty it has to its stakeholders as a strength. However, it aims at promoting then the interest of one group, which includes investors from an economic perspective.
Question 7
Environments that affect the business environment include the technological environment, natural environment, and the government environment. New technologies have led to the creation of business intelligence. Primarily, “with an effectively executed Business Intelligence program, businesses can compete by being better than the competition at leveraging information to improve profits and performance” (Williams and Williams 11). Business intelligence provides businesses with information that helps in enhancing profits. However, such technological changes make other business models obsolete. The natural environment demands awareness of critical issues such as pollution and consideration of eco-friendly practices. Businesses that adopt sound environmental practices tend to have a positive public image. However, such methods form additional costs to the company. The government environment imposes regulations and policies. A strict government environment limits business profitability through tight regulation policies. However, favorable policies such as tax cuts make the business prosper.
Question 8
The principles of corporate social responsibility govern firms’ operations. Bloomberg states that Jack Welch is, “one of the longest and most triumphant runs of any CEO in Corporate America.” The economic transformations he made led to a record in the profitability of General Electric. During his reign, Welch fired over, “80,000 employees the first year and 42,000 over the next two years” (Abetti 77). Laying off workers violated the principle to contribute to the well-being and development of the community as they became jobless. Welch’s business polluted the Hudson Rivers. His management had damaged the environment. Such an action went against the principle of protecting the environment. However, Welch practiced due diligence in assessing the business risk that made him make massive layoffs in his debut year. He also practiced responsible governance that led to the dismantling of the bureaucracy at GE and subsequent historical revenue performance.
Works Cited
Abetti, Pier A. “Case Study: Jack Welch’s Creative Revolutionary Transformation Of General Electric And The Thermidorian Reaction (1981-2004).” Creativity and Innovation Management 15.1 (2006): 74-84. Web.
Byrum, Greta. “How Has Technology Changed America’S Families?.” World Economic Forum. N.p., 2015. Web. 22 Feb. 2018.
Environmental Protection Agency. “The Basics Of The Regulatory Process | US EPA.” US EPA. N.p., 2017. Web. 22 Feb. 2018.
U.S. Food and Drugs Administration. “The Facts On The FDA’s New Tobacco Rule.” Fda.gov. N.p., 2016. Web. 22 Feb. 2018.
Homeland Security. “Mission.” Department of Homeland Security. N.p., 2016. Web. 22 Feb. 2018.
Shah, Anup. “WTO Protests In Seattle, 1999 — Global Issues.” Globalissues.org. N.p., 2001. Web. 22 Feb. 2018.
Steiner, George A., and Steiner, John F.. Business, Government, and Society. 13th Ed. New York: McGraw Hill, 2012. Print.
Williams, Steve, and Nancy Williams. The Profit Impact Of Business Intelligence. San Fransisco: Morgan Kaufmann, 2010. Print.
