1. Understand the nature of business.
Essential Standard 2.00
Understand the nature of business.

2. Understand responsible actions for conducting business.
Objective 2.05
Understand responsible actions for conducting business.

3. Topics Common socially responsible practices of businesses
Government protection
Consumer Bill of Rights
Government regulation and assistance

4. Common socially responsible practices of businesses

5. Common Socially Responsible Practices of Businesses
Socially responsible practices of businesses include practices that positively impact communities.
Common social responsibilities addressed:
Environmental protection
Workplace diversity
Job safety
Employee wellness

6. Common Socially Responsible Practices of Businesses continued
How can companies contribute to environmental protection?
What is an example of an organization or action that protects the environment?
How can companies contribute to environmental protection?
Implementing actions to conserve natural resources
Minimizing pollution of air and water resources
What is an example of organization or action that protects the environment?
Environmental Protection Agency enforces and provides standards for air and water quality.
Computer Manufacturing Company refurbishes computers, recycling parts of computers.

7. Common Socially Responsible Practices of Businesses continued
What is included in workplace diversity?
What is an example of an organization or action that enforces workplace diversity?
What is included in workplace diversity?
Workplace diversity exists in a company when the employees represent a variety of groups including women, ethnic groups, physically challenged, and older workers.
What is an example of an organization or action that enforces workplace diversity?
The American with Disabilities Act (ADA) enforces regulations to accommodate people with disabilities.
The Age Discrimination in Employment Act protects employees of the age 40 and over from employment decisions based on their age.
The Equal Employment Opportunity Commission (EECOC) protects applicant and employees against workplace discrimination.
Companies providing workforce diversity training to employees.

8. Common Social-responsible Practices of Business continued
What is job safety?
What is an example of an organization or action that enforces job safety?
What is job safety?
Job safety is ensuring work environments are risk-free of accidents.
What is an example of an organization or action that enforces job safety?
The Occupational Safety and Health Administration (OSHA) gives surety to safe and healthful working conditions for men and women.
A company’s schedule cleaning of bathrooms used by employees three times a day.
Employees who work in a plant that manufactures chemical are required to wear proper clothing to protect from skin irritations.

9. Common Socially Responsible Practices of Businesses continued
Why would a company offer employee wellness programs?
What are some examples of employee wellness activities?
Why would a company offer employee wellness programs?
Employee wellness programs are offered by employers to maintain a healthy workforce.
What are some examples of employee wellness activities?
Businesses today assist employees with programs such as stop-smoking seminars, counseling for employees with drug problems, and weight-loss counseling.

10. Evaluation of Social Responsibility
What are some benefits of a company being social responsible?
What are some benefits of a company being social responsible?
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.
Increase awareness of social issues among workers, consumers, and others.

11. Evaluation of Social Responsibility
Why should a business explore the costs of being socially responsible?
Why should a business explore the costs of being socially responsible?
The costs of providing social programs must be realistic to allow a business to earn a profit.

12. Ethics What is the purpose of business ethics?
Business ethics address the conduct of business and employees.

13. Ethics Guidelines for responsible business conduct
addresses the following questions:
Is the action illegal?
Does the action violate professional or company standards?
Who is affected by the action and how?

14. Government protection

15. Government Protection continued
How are workers protected in their work environments by the government?
How are workers protected in their work environments by the government?
Worker’s protection provides safe work condition for employees.
The government enforces minimum standards for buildings, machines, and chemicals.

16. Government Protection continued
What is a contract?
What are the elements of a contract?
How does the government protect businesses and consumers involved in a contract?
What is a contract?
A contract is an agreement usually between two parties to exchange goods or services for something of value, usually money.
What are the elements of a contract?
Agreement
Competent parties
Consideration
Legality
How does the government protect businesses and consumers involved in a contract?
The government enforces contracts between businesses and individuals by ensuring agreed upon work and the exchange of money or other means are completed.

17. Government Protection continued
Intellectual property protected by the government are:
Copyrights
Patents
Trademarks
What is an example of each intellectual property?
Copyrights protect the creative works of artists, authors, and composers. In the United States, originators are protected during their lifetime plus 70 years to publish and exhibit their works.
Patents provide originators the exclusive right to make, use, or sell the item for 17 years.
Trademarks protect registered words, letters, or symbols connected with a company or product.
What is an example of each intellectual property?
Copyright: Published poem titled Still I Rise by poet Dr. Maya Angelou
Patents: Nike’s production of the footwear
Trademarks: Starbucks symbol found on coffee cups

18. Consumer Bill of Rights and Government Regulation

19. Consumer Bill of Rights
What is the purpose of the consumer bill of rights?
What is the purpose of the consumer bill of rights?
The consumer bill of rights protects consumers from unfair business practices.

20. Consumer Bill of Rights continued
The Right to Be Informed
Consumers have the right to be informed of what a product is and its functions.
The Right to Safety
Consumers have the right to be protected from harm while using a product or service.

21. Consumer Bill of Rights continued
The Right to Choose
Consumers have the right to choose what to buy among a variety of products and services.
The Right to Be Heard
Consumers have the right to talk with businesses about products or services they offer. Consumers may share their comments, complaints, concerns, or questions.

22. Consumer Bill of Rights continued
The Right to a Remedy
Consumers are assured that they can seek legal remedy when they encounter a problem or defective product.
What is a guarantee?
What is the difference between an express and an implied warranty?
What is a guarantee?
Is a promise that a product meets certain quality.
What is the difference between an express and an implied warranty?
An express warranty is a verbal promise by a company about the specific quality performance of a product. Where as an implied warranty may not be verbally communicated but is understood to apply anyway.

23. Consumer Bill of Rights continued
The Right to Consumer Education
Consumers have the right to be informed about how their purchasing decisions impact them personally and the economy.
The Right to Service
Consumers have the right to receive goods and services at the promised level by companies.

24. Government Regulation and Assistance
Why does the government regulate utility companies?
How does the government prevent unfair business practices?
Why does the government regulate utility companies?
The government regulates utility companies to promote business practices such as fair rates and services. Utility companies are usually a monopoly in the area it serves.
How does the government prevent unfair business practices?
The antitrust laws encourage competition and fairness among businesses and avoid monopolies. These laws avert false advertising, deceptive pricing, and misleading labeling.

25. Government Regulation and Assistance
Government assists businesses by:
Providing them demographic information
Buying goods and services from them
Employing workers who can buy goods and services from them