Chapter 1: the Study of Business, Government, and Society

Topics: Stakeholder, Government, Regulation Pages: 4 (1238 words) Published: December 12, 2012
Chapter Review
Chapter 1: The Study of Business, Government, and Society
In chapter one the author lays a foundation for the information which will be shared in the following chapters. This foundation allows the reader to understand basic terminology, ideas, and relationships as it pertains to the operation of business, government and society. For a more distinct explanation of what the author helps the reader to understand; the collaborative information that the chapter provides illustrates a somewhat intangible relationship, in which we (business, government, and society) all are stakeholders. The author helps the reader understands the interactions of the stakeholders, and these interactions shape how business’ assumes social responsibility; whether it is self imposed, dictated by law/regulation, or pressured by social values, ideas, and expectations. The author then offers four definitive relational models which helps the reader understand the multiple variables which help shape and control the relationship between business and society. In addition, the models also help the reader to understand the effects, the value added, and the challenges that are imposed on those parts of society which assume them. One interesting thought for the reader to keep in mind when learning the four models is how the nature of the models can vary based local and national politics, market maturity, and social structure. The first model that author presents is the Market Capitalism Model. In my opinion, this model is the foundation or the genesis of all the relationship models because it is in essence the motivation of business interaction. According to the author this model was birthed out of the basic human instinct to trade good/services in order to make a means to survive. (page 9) I understand the primary goal in business is to make a profit but ultimately business want to make a profit in order for the people who operate it can survive. The author goes on to explain how...
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