Question

In lecture, we introduced five specific characteristics of what corporations should exhibit to be good corporate citizens. Identify and discuss the rationale of these characteristics and explain the value we place on citizenship in general.

Answer 1

Corporate citizenship should:

1. Obey relevant rules and regulations.
2. Concerned with how well a firm contributes to the betterment of the community (Eg philantrophy)
3. Contribute to or, at least not detract from, the life of local communities through its operations .
4. Held to certain economic virtues, that are necessary for the free market to run efficiently (Eg honest advertising)
5. Concerned with how well a firm involves itself in the political process.