Business, Government and Society

Overview

The module explores the role of business in its wider environmental context and specifically explores the relationships between business, government and society within and across countries. Businesses do not exist and act in a vacuum but rather have to interact with and oftentimes accommodate the views of a wide range of stakeholders in order to be successful. For example, Multinational Enterprises may decide to shift production into low-cost countries, however, they have to consider the societal and legal challenges that this decision generates, both at home and abroad. Organisational structures and corporate governance frameworks are thus developed to ensure that businesses can engage with these wider social and public policy contexts. As a result, businesses are becoming more deeply rooted in and intertwined with local, national and international communities.

Indeed, beyond a narrow profit making focus, there is a growing acceptance that corporate interests can and should converge with societal interests to generate better, sustainable outcomes for the business in the long term. However, balancing the drive to make profits and to satisfy short-term shareholder interests with the long-term needs of society and its environment is tough. Consideration must be given to developing sustainable and responsible businesses. Students will learn about the challenges that businesses but also students themselves face in day-to-day (business) life, and will discuss and develop different solutions to these challenges.

Learning Objectives

Successful completion of the module will enable students to:
• Explore the needs and responsibilities of different stakeholder groups and their impact on business
• Critique the role of business in society
• Develop an understanding on the impact of business on all facets of society
• Analyse and evaluate the relationships within and between business, government and society
• Explain the complexities that characterise the relationships between business, government and society at different levels of governance

Skills

The module aims to give students a sound introduction to issues concerning the interactions and relationships between business, government and society. It will orientate students toward better and more acceptable decisions in business

Assessment

Students must achieve an overall mark of 40% in the module to pass