According to the textbook, why are organizations important to society?
A) They create value for owners, customers, and employees.
B) They establish important relationships with the government.
C) They reduce transactions costs.
D) They divide the resources needed for achieving desired goals and outcomes.

Question

Quizplus · Accepted Answer

Organizations are important to society because they create value for owners, customers, and employees. They produce goods and services that people need or want, generate employment opportunities, and generate profits that can be reinvested in the economy. In addition, organizations often engage in social responsibility activities, such as charitable giving, that benefit the broader community.

According to the Textbook, Why Are Organizations Important to Society