Course Title: Business and Society
Course code: MGT 212
Credit hours: 3
The main objective of this course is to familiarize students with the various concepts and components of business and society relationship.It mainly emphasizes on imparting the knowledge and skills to students on the fundamentals of business and society relationship, corporate social business ethics,and corporate governance in order to prepare future responsible business leaders aimed at creating value for both business and society. The intent of the course is therefore to help students gain a better understanding of the interplay among business, governments and society with particular paying particular attention to how firms manage those relationships.
Businesses in Nepal today face greater public scrutiny and demands to act in an ethical and socially responsible manner. This course will evaluate these developments and consider their implications for organizational strategy and managerial practice. The course begins with investigations of corporate social responsibility and the ethical dimensions of management actions and decision-making processes. Attention is given to perspectives on roles of the firm that lead to governance mechanisms and operating policies that encourage ethical conduct serve stakeholders
and support long-term corporate sustainability.
After completion of the course, students should be able to:
Discuss the concepts and key debates in business and society;
Demonstrate understanding of the definition of ethics and the importance and role ethical behavior serves in the business world today;
Identify various ethical issues that occur in the workplace;
Evaluate the concept of corporate social responsibility, and identify the components relevant to social responsibility of business;
Recognize and appreciate the importance and impact of organizational decisions on society;
Identify and describe the roles and rights of stakeholders, and value the shareholder and stakeholder rights and responsibilities;
Adopt the appropriate mechanism for effective governance and implement best practices on
Adhere to sound principles of direction and management, corporate management.
Unit I: Business and Society Relationship 7 Hours
Concept of business and society; Relationship between business and society- A systems perspective; Forces shaping business and society relationship; Changing societal expectations-growing emphasis on ethical values; The changing workplace – external factors influencing the workplace,government intervention, women at work; Corporate efforts to promote diversity.
Unit II: Fundamentals of Corporate Social Responsibility 8 hours
Concept of corporate social responsibility (CSR); Basic of social responsibility; Benefits of CSR to business and society; Historical evolution of CSR; Drivers of CSR; Theories of CSR -shareholder value theory and stakeholder theory; Concept of corporate citizenship and corporate social performance.
Unit III: Business and its Stakeholders 8 Hours
Concept; Types of stakeholder analysis stakeholder interests, stakeholder power, and stakeholder coalitions; Stakeholder activism; Managing key stakeholder issues- CSR in the marketplace,CSR in the workplace, CSR in the community, and CSR in the ecological environment, Making trade-offs;Creating a win-win situation between business and society.
Unit IV: Business Ethics 9 hours
Concept of business ethics; Causes and consequences of ethical problems; core elements of ethical character; Making ethics work in organizations- top management commitment and involvement, codes of ethics, principle-based international standards; Ethics training programs encouraging ethical behavior, ethics audits, corporate ethics awards; Whistle blowing; lmpact of ethics on business and society.
Unit V: Corporate Governance 7 hours
Concept, scope and significance of corporate governance; Theories governing corporate governance- Agency theory, transaction cost economics, stewardship theory Governance of corporate entities; Challenges for good corporate governance; Impact of governance on business, society and the economy.
Unit VI: CSR, Business Ethics and Corporate Governance Issues in Nepal 9 hours
Management and status of CSR in Nepal; The role of Government in promoting CSR in Nepal; Legal provisions governing CSR in Nepal; Ethical business practices and issues in Nepal; Corporate governance system in Nepalese organizations; Suggestions for improving existing ethical practices and corporate governance system in Nepal.
1. Lawrence, A. T. and Weber, J. Business and Society: Stakeholders, Ethics, Public Policy. Tata McGraw Hill, New Delhi.
2. Tricker,B. Corporate Governance: Principles, Policies and Practices. oxford University Press, New Delhi.
1. Mallin, C. A. Corporate Governance. Oxford University Press, New Delhi.
2. Steiner, J. F., and Steiner, G. A. Business, Government, and Society: A Managerial Perspective: Text and Cases. Tata McGraw Hill, New Delhi.
3. Carroll A. B., and Buchholtz, A. K. Business S society: Ethics, Sustainability, and Stakeholder Management. Cengage Learning, New Delhi.
4. Blowfield, M., and Murray,A. Corporate Responsibility: A Critical Introduction. Oxford University Press, New Delhi,
5. Chatterji, M. Corporate Social Responsibility. oxford University Press, Delhi.
6. Francis R. D., and Mishra, M. Business Ethics: An Indian Perspective. Tata McGraw Hill, New Delhi.