Iceco Inc., an ice cream manufacturing company, encourages all stakeholders, including the top management and all employees, to consider individual and community welfare in their day-to-day decisions. This action undertaken by Iceco reflects ________.
A) environmentalism
B) social responsibility
C) the selling concept
D) partner relationship management
E) marketing myopia

Question

Quizplus · Accepted Answer

Iceco Inc.'s encouragement to its stakeholders to consider individual and community welfare in their daily decisions reflects the concept of social responsibility. Social responsibility refers to a company's commitment to acting in ways that benefit society beyond its immediate financial interests. In other words, it is an ethical framework that considers the impact of a company's actions on the larger community and the environment. By encouraging its stakeholders to consider individual and community welfare, Iceco is exhibiting social responsibility. Option A, environmentalism, is related to social responsibility but specifically focuses on environmental issues. Option C, the selling concept, refers to a company's focus on aggressively selling its products rather than understanding and satisfying customers' needs. Option D, partner relationship management, refers to the management of relationships with partners, such as suppliers and distributors. Option E, marketing myopia, is a concept that refers to a company's shortsighted focus on its products rather than the needs of its customers. Social responsibility is the concept of businesses taking into account the impact of their actions on society and the environment. Iceco Inc.'s actions of encouraging all stakeholders, including top management and employees, to consider individual and community welfare in their day-to-day decisions reflects their commitment to being socially responsible. This means that they are not only focused on making profits but also ensuring that their actions have a positive impact on society and the environment. Therefore, option B is the best choice. Option A, environmentalism, refers specifically to a focus on protecting the environment, whereas Iceco's actions reflect a broader focus on social responsibility. Option C, the selling concept, refers to a business approach focused on aggressive selling and promoting products, which is not relevant to Iceco's actions. Option D, partner relationship management, refers to the practice of building and maintaining relationships with partners, suppliers, and other businesses, which is not directly relevant to Iceco's actions. Option E, marketing myopia, refers to the failure of businesses to understand the needs and wants of their customers and focus solely on their products or services, which is not applicable to Iceco's situation. Social responsibility refers to the ethical and moral obligations that a company has towards society and the environment. Iceco's encouragement of its stakeholders to consider individual and community welfare in their day-to-day decisions indicates that the company is conscious of its social responsibility. This means that Iceco is not only focused on making profits but also takes into account the impact of its operations on the larger community and takes steps to ensure that it is a responsible corporate citizen.

Iceco Inc, an Ice Cream Manufacturing Company, Encourages All Stakeholders, Including