BU111 Lecture 20: BU 111 Lecture 20: Lecture #20: Social Factors (continued)
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26 marks for time value of money/investment questions: majority of marks go to identifying the correct formulas, hold onto all the decimal places throughout (unless the effective rate formula use 4 decimal places) until the very end. Areas of social responsibility responsibility towards the natural environment responsibility towards society responsibility towards customers responsibility towards employees responsibility towards investors. Notice that these are important organizational stakeholders! additional stakeholders: competitors, suppliers, the government. Responsibility towards natural environment areas: air, water, and land pollution. Why focus on it: paradigm shift in management thinking, quantification of impact, change in societal attitudes. What we do how we do it. Responsibility to society areas: poverty, health, education human development index (hdi) analyzing economic growth does everyone benefit: looking beyond aggregate figures and considering income inequality, growth is not always good. Responsibility to employees areas: hiring, promotion, compensation, training. Why focus on it: provide businesses with talent, skills, labour action, responsible hiring and promotion approaches to hiring.
