1. The business-society relationship has undergone many changes over the last few decades. This has no doubt been fuelled by a mixture of unsavoury behaviour by businesses and growing expectations by the public. Managers are now facing greater pressures on their approach in managing this relationship.
a) Discuss the concept of the ‘triple bottom line’ by John Elkington. Provide explanations and relevant examples for each bottom line.
b) Carroll and Buchholtz (2014) identified three (3) attributes in determining a ‘stake’ under its discussion of the stakeholder approach to business. Discuss these attributes and provide relevant examples to better illustrate these interests.
c) Demonstrate your understanding of Immoral, Amoral and Moral approaches to management by briefly explaining each approach and providing relevant business examples.