1. I feel that business and economic functions should work together with
society to create a common good between all parties. If all business
transactions and exchanges are done fairly and on common ground there
would be less grounds to argue and cause contention. Too often do we see
businesses listing prices on items that are way more than what they paid for
the actual product. Obviously they are trying to make money, but if the
tables were turned and they were forced to pay double the amount of what
the original product cost, they would not be satisfied either.
Confucius says that “These four branches of production are the
sources of the economic life of the people. When the sources are great, the
people are rich; and when the sources are small, they are poor. Such sources
are the cause for the enrichment, both of the state and of private families.”
(1) Here he means that there should be large production. If production are
large, the sources of wealth are great, and it is good not only for the private
families, but for the public as a whole. Therefore, the natural process of
production should be left free, because it will bring great sources of wealth
to society. It is when business owners get greedy and do things for their own
personal gain that causes problems.
“In the eyes of business owners during the 19th century and the first
half of the 20th, their role was to produce goods and services and make as

2. much money as possible for themselves and shareholders. The public's duty
was to buy the goods and services. It was not until the 1960s that the
traditional roles changed and "stakeholders," i.e., anyone who has a vested
interest in any action a company takes, began to play an important role in the
relationship between business and society. Today, that relationship continues
to evolve toward a symbiotic partnership between business, government, and
the broader society.” (2) By having shares invested in a company, it makes
the relationship increasingly more fair between businesses and society. The
consumers need what the business has to offer, but the business needs the
consumers to keep them in business and to grow. It’s an intimate cycle
where both parties depend on one another for survival.
Charles Darwin explained this by saying “We may conclude, from
what we have seen of the intimate and complex manner in which the
inhabitants of each country are bound together, that any change in the
numerical proportions of the inhabitants, independently of the change of
climate itself, would seriously affect the others.” (3) If a business changes
and negatively affects society, they will pull away from that business and it
will not survive. If it works well with society then both shall thrive together.
“For us in business, I can see only one sure course to follow. Call it
common sense, call it policy, call it anything you like. To my mind, industry

3. must aim for, exist for and everlastingly operate for the good of the
community. The community cannot ride one track and business another. The
two are inseparable, interactive and interdependent.” Cleo F. Craig,
President, AT&T (1951-1956) (4) Success all depends on the relationship
between business, economic functions, society and how they all work
together. It is for this reason that fairness and respect should be a must
within all aspects of the relationship.

4. References:
(1) Laissez-Faire Policy, Chen Huan-Chang pg. 122
(2) Read more: http://www.referenceforbusiness.com/encyclopedia/Bre-
Cap/Business-and-Society.html#ixzz2NUWGlzfw
(3) Natural Selection, Charles Darwin pg. 284
(4) http://www.iveybusinessjournal.com/departments/from-the-
dean/creating-shared-value-the-inseparability-of-business-and-
society#.UUKoghlbw0w

5. Paper #1
How do you believe business and economic functions should
interact with society?
Caleb Frischknecht
BUS 1050
MWF 9:00

6. Paper #1 Evaluation Criteria
Item
Possible
Points
Evaluation
Points
Earned
Opening thesis
articulates your
position and the
main points of your
argument.
10
At least three key
ideas are well
developed and
explained as they
apply to your thesis.
Argument is logical
and flows well.
50
At least two textbook
and two outside
sources as
references to
support your claims.
(See article list on
Paper #1 APA
Reference
information sheet.)
15
References are cited
in APA format. 10
Paper logically
organized and
written in a clear,
concise style using
active voice. You
follow instructions
for appropriate
grammatical
conventions, format
and length.
15
Total 100

7. Paper #1 Evaluation Criteria
Item
Possible
Points
Evaluation
Points
Earned
Opening thesis
articulates your
position and the
main points of your
argument.
10
At least three key
ideas are well
developed and
explained as they
apply to your thesis.
Argument is logical
and flows well.
50
At least two textbook
and two outside
sources as
references to
support your claims.
(See article list on
Paper #1 APA
Reference
information sheet.)
15
References are cited
in APA format. 10
Paper logically
organized and
written in a clear,
concise style using
active voice. You
follow instructions
for appropriate
grammatical
conventions, format
and length.
15
Total 100