How and why would a seller make a sale to a buyer that has no money the seller can use?
Perhaps the buyer trades something of value to the seller. For instance the buyer might barter lumbering rights in a forest for heavy earth-moving equipment.
what are the features/ characteristic of social responsibility and ethics?
Social responsibility refers to the duty of organizations or individuals to act in a way that benefits society at large. It involves making decisions and taking actions that consider the well-being of all stakeholders, including employees, customers, communities, and the environment.
On the other hand, ethics refers to principles or standards of behavior that guide individuals or organizations in their decision-making process. Ethical behavior involves acting in a morally responsible manner, following values and principles such as honesty, fairness, respect, and integrity.
Here are some key features and characteristics of social responsibility and ethics:
1. Accountability: Social responsibility involves being accountable for the impact of one's actions or decisions on society. It means taking responsibility for the consequences and actively seeking ways to make a positive impact.
2. Transparency: Practicing social responsibility and ethics requires transparency in business operations and decision-making processes. This means being open and honest in communication, disclosing information, and avoiding hidden agendas.
3. Stakeholder Engagement: Both social responsibility and ethics emphasize the importance of engaging with stakeholders. This involves considering their needs, opinions, and concerns when making decisions and taking actions.
4. Environmental Sustainability: Social responsibility includes considering the impact of business activities on the environment. It involves adopting sustainable practices to minimize negative environmental effects and promote long-term ecological balance.
5. Compliance with Laws and Regulations: Operating ethically and responsibly involves complying with legal requirements, regulations, and industry standards. It includes conducting business within the boundaries of the law and upholding ethical standards even when there is no legal requirement to do so.
6. Employee Welfare: Social responsibility involves promoting the well-being and fair treatment of employees. This can include providing a safe and inclusive work environment, fair compensation, opportunities for professional development, and work-life balance.
7. Philanthropy and Community Involvement: Social responsibility often involves giving back to the community through philanthropic initiatives. It can include donating to charitable causes, volunteering, or supporting local community development projects.
8. Ethical Decision-making: Ethics require individuals and organizations to make decisions based on moral principles and values rather than purely self-interest. Ethical decision-making involves considering the potential impact on others and choosing the most ethical course of action.
It's important to note that social responsibility and ethics are interconnected and go hand in hand. Practicing ethics within an organization leads to greater social responsibility and vice versa.