Running Head: THE BUSINESS WORLD1The Business WorldAuthorInstitutionTHE BUSINESS WORLD2According to the traditional view of business, a corporation exists to provide quality goodsand services. It also has to ensure that there is proper allocation of work and good profits. Theeconomic model of social responsibility believes that a society will have more advantages when abusiness is given the authority to provide goods that a community requires. A director who hasthis traditional attitude, the social responsibility would belong to someone elses job. Howeversome managers insist that they do have responsibility to stakeholders, customers and even thepublic at large. This is referred to as the socioeconomic model of responsibility.It is quite evident that the global economy has brought a lot of changes and has great impacton American business. The world has become a gl ...
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