I need help with a macroeconomics assignment focused on social responsibility.
Key areas to cover: - Corporate Social Responsibility (CSR) - Communication Skills - Critical Thinking - Written Communication - Empirical and Quantitative Skills
Adam Smith Research Paper
Adam Smith coined the term "The Invisible Hand" in his book An Inquiry Into the Nature and Causes of the Wealth of Nations. It is broadly accepted by today's economists as a means to explain the forces of a free market. Smith’s description of the invisible hand theory states that individuals pursuing their own interest frequently promote the good of society. In the pursuit of self interest, individuals and businesses make both themselves and society better off.
Research a private sector company that supports social/civic responsibility.
(Note: Government agencies and non-profit organizations are not private sector companies)
By Private Sector, we mean that the company is not owned by the Government. Examples of private sector companies are Starbucks, Walmart, Target, HEB, Nike, Amazon, Microsoft. Smaller locally owned businesses are also private sector. When you do your research, you are looking for anything the company does to promote the good of all. Community donations, keeping the environment clean, ethnic diversity, etc. One good way to search is to use the key term "social responsibility".
For example, if I were researching HEB, I would need to search "HEB and social responsibility"
Information about individual companies can also be found on the company's website. Go to the company's website and search "social responsibility" or look at the bottom of the webpage in the small print section for social project and social responsibility.
Answer the following questions:
Discuss Adam Smith and how his ideas relate to your research.
What is the name of the company you researched and discuss what product they sell, etc.
Which social project(s) does your company support? Explain at least two projects that your company supports and how the company implements them. What is your opinion of this project and why do you feel this way? Do not just simply list the projects.... fully explain them.
How do these social projects reinvest back into communities? In your answer include at least one of the following: equations, graphs, diagrams, tables for support. You can use (copy and paste) a graph or table from your company’s website or resources. You do not have to create a graph on your own. You also need to discuss the graph, diagram, table or equation. THIS IS ONE OF THE MAIN POINTS YOUR PAPER WILL BE GRADED ON. YOU NEED TO POST A GRAPH, EQUATION, TABLE, ETC. THEN MAKE A CALCULATION REGARDING THE GRAPH, EQUATION OR TABLE AND DISCUSS YOUR CALCULATION. THIS POINT ALONE IS 10 POINTS OF YOUR GRADE. For example, include a graph and add together components of the graph or include a table and add the total amount of dollars or hours the project contributed to society. YOU MUST SHOW THE CALCULATION. For example,, XXX company donates $1 million dollars to charity every year. At least 20% of this donation is allotted to children's charity for a total of $200,000 as calculated by $1,000,000 x 20% = $200,000. YOU MUST SHOW THE CALCULATION. In considering Social Responsibility on an individual basis, what volunteer work do you plan on doing or have you done in order to show social responsibility? Fully explain your answer. How do you benefit from volunteering? How does the entity benefit? Relate a concept from ECON 2301 class to volunteering? (For example, what is your opportunity cost?)
You will need to cite any resources you used. MLA format.
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