Introduction to Business© Thomson South-Western

ChapterChapterChapterChapter

Social Responsibility of Business and Government

4-14-1 Social Responsibility

4-24-2 Government Protection Activities

4-34-3 Government Regulation and Assistance

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Introduction to Business© Thomson South-Western

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LESSON 4-1LESSON 4-1

Social Responsibility

Goals Describe social responsibility issues. Identify benefits and costs of social

responsibility. Explain the purpose of a code of ethics.

Introduction to Business© Thomson South-Western

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Key Terms

social responsibility non-renewable resource ethics business ethics code of ethics

Introduction to Business© Thomson South-Western

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SOCIAL RESPONSIBILITY ISSUES Environmental protection Workplace diversity Job safety Employee wellness

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

What are four areas of social responsibility that may require the attention of business?

Introduction to Business© Thomson South-Western

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SOCIAL RESPONSIBILITY EVALUATION Benefits

Expanded justice for groups of a society Enhanced company image Reduced need for government actions Improved quality of life in a community and

around the world Increased awareness of social issues

among workers, consumers, and others

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SOCIAL RESPONSIBILITY EVALUATION Costs

New nonpolluting or safer equipment Building repairs to remove risks Wellness and rehabilitation programs Social projects sponsored by a company

(continued)

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>> C H E C K P O I N T

What are the main benefits of social responsibility?

Introduction to Business© Thomson South-Western

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BUSINESS ETHICS

Code of ethics Ethical conduct guidelines

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

What is the purpose of a code of ethics?

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LESSON 4-2LESSON 4-2

Government Protection Activities

Goals Identify the roles and levels of

government. Explain government protection

activities. Describe types of intellectual property.

Introduction to Business© Thomson South-Western

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Key Terms

contract patent copyright trademark

Introduction to Business© Thomson South-Western

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GOVERNMENT IN SOCIETY

Roles of government Providing services for members of society Protecting citizens, consumers, businesses, and

workers Regulating utilities and promoting competition Providing information and support to businesses Buying goods and services Hiring public employees Raising revenue

(continued)

Introduction to Business© Thomson South-Western

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GOVERNMENT IN SOCIETY

Levels of government Federal government State government Local government

(continued)

Introduction to Business© Thomson South-Western

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FEDERAL GOVERNMENT

Oversees the activities that involve two or more states or other countries.

Regulates foreign and interstate commerce

Introduction to Business© Thomson South-Western

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STATE GOVERNMENTS

Regulate business actions within their own borders

Assign some of their legislative power to local governments

Introduction to Business© Thomson South-Western

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LOCAL GOVERNMENTS

Include county boards and city or town councils

Provide services needed for an orderly society, such as police and fire protection

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

What are the three levels of government?

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GOVERNMENT PROTECTION ACTIVITIES Worker protection Contract enforcement

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

What are the main elements of a contract?

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PROTECTION OF INTELLECTUAL PROPERTY Patents Copyrights Trademarks

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

What are three types of intellectual property?

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LESSON 4-3LESSON 4-3

Government Regulation and AssistanceGoals Explain actions by government to

regulate business. Discuss efforts of government to assist

businesses. Identify methods used by government

to raise money.

Introduction to Business© Thomson South-Western

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Key Terms

public utility monopoly antitrust laws revenue

Introduction to Business© Thomson South-Western

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REGULATORY ACTIVITIES

Regulation of utilities Prevent unfair business practices

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

Why does government regulate utilities?

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GOVERNMENT ASSISTS BUSINESS Government buys goods and services Government employs workers

Introduction to Business© Thomson South-Western

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>> C H E C K P O I N T

How does government assist business?

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GOVERNMENT RAISES MONEY Taxes Borrowing

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>> C H E C K P O I N T

What is the difference between tax revenue and borrowing by government?