Final answer:
Responsibilities related to a business's contributions to stakeholders, known as social responsiveness, involve ethical duties to positively impact society and address societal needs. Difficulties in ethical practice arise, especially with emerging technologies, where businesses must balance profit and morality. The dynamic between individual rights and social responsibility is complex, particularly within legal and community contexts.
Step-by-step explanation:
Responsibilities related to a business's contributions to stakeholders are labelled as social responsiveness. This concept dictates that businesses, beyond their economic and legal obligations, carry an ethical responsibility to be proactive in anticipating and responding to societal needs and making a positive impact on society.
This approach extends to addressing social, economic, and environmental problems, which may include engaging in sustainable practices, investing in community projects, and ensuring fair labor practices.
Evaluating the difficulty of establishing ethical practices, particularly concerning emerging technologies, presents numerous challenges. Businesses must navigate a complex landscape of rapid technological advancement while balancing profitability with moral considerations.
This is especially pertinent in areas such as data privacy, environmental conservation, and the fair treatment of employees. Therefore, the integration of ethical practices in business, especially with the advent of new technologies, involves constant vigilance and a commitment to ongoing ethical deliberation and action.
Additionally, governments and corporations often have to find a balance between protecting civil liberties and community welfare, a dynamic that shines a light on the relationship between individual rights, community responsibilities, and social responsibility.
Issues like corporate political contributions and employee healthcare rights illustrate the intricate interplay between legal rights and community expectations, making the responsibility of corporations towards societal welfare an important topic for debate.