Bifalgorithm post · IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573 · 2.4. Responsibilities to Stakeholders*

What does it mean for a business to behave legally and responsibly?

What does it mean for a business to behave legally and responsibly? (IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573 · 2.4. Responsibilities to Stakeholde…

Ideas in this flowchart

  • Business activities are generally both legal and socially responsible.
  • The vast majority of business activities fall into the category of legal and responsible behavior.
  • Most companies act legally and try to be socially responsible.
  • Consumers, especially those under 30, are likely to buy brands with excellent ethical records and community involvement.
  • REI illustrates corporate community involvement through substantial contributions to the outdoor community.
  • REI gave back nearly 70 percent of its profits to the outdoor community.
  • As a member cooperative, REI invested $9.3 million in nonprofit partners in 2016.
  • A socially responsible company meets its obligations to its stakeholders.
  • Stakeholders are individuals or groups to whom a business has a responsibility.
  • The main stakeholder groups of a business include employees, customers, the general public, and investors.
  • Employees are stakeholders of a business.
  • Customers are stakeholders of a business.
  • The general public is a stakeholder of a business.
  • Investors are stakeholders of a business.
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What does it mean for a business to behave legally and responsibly?

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IntroductionToBusiness OP 8D04gAa · 2026-10-07-36573

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"The vast majority of business activities fall into the category of behavior that is both legal and responsible. Most companies act legally, and most try to be socially responsible. Research shows that consumers, especially those under 30, are likely to buy brands that have excellent ethical track records and community involvement. Outdoor specialty retailer REI, for example, recently announced that it gave back nearly 70 percent of its profits to the outdoor community. A member cooperative, the company invested a record $9.3 million in its nonprofit partners in 2016. How do businesses meet their social responsibilities to various stakeholders? What makes a company be admired or perceived as socially responsible? Such a company meets its obligations to its stakeholders. Stakeholders are the individuals or groups to whom a business has a responsibility. The stakeholders of a business are its employees, its customers, the general public, and its investors."

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