Snuggly Stuffed Toys: Business Analysis

There are four different types of Social Responsibility which includes Economic Responsibilities, Legal Responsibilities, Ethical Responsibilities, Discretionary Responsibilities. From the reading, I found that the best way to define social responsibility is the idea, “… that the corporation has not only economic and legal obligations, but also certain responsibilities to society which extend beyond these obligations…”. While it may be a priority for a business to ensure that they are prospering financially, the also have duties that extend beyond this. For the examples provided for each form of social responsibility, I will use the made-up company of Snuggly Stuffed Toys Inc., which manufactures and sells stuffed animals. Economic responsibilities

also has legal responsibilities, which can be defined as “… the laws and regulations - under which business is expected to operate”. Legal responsibilities this company will have may include ensuring that the raw materials inputted into their products are not toxic or harmful, given the fact that their main customer base is young children. Snuggly Stuffed Toys Inc. must ensure that they are providing a safe product to its customers, and may even be required to have their products pass certain tests to be meet their legal responsibilities. The next form of social responsibility is Ethical Responsibilities which according to the text is “… ill defined and consequently are among the most difficult for business to deal with.” For the example company, ethical responsibilities they would need to stand by is trying not to create products that may generate a favoritism towards a certain race, ethnicity, culture, gender, etc. This could cause ethical concerns for consumers, and could possibly even lead to a decrease in sales, and profitability. The final area of social responsibility is Discretionary responsibilities is defined as the responsibility to meet the standards of the social expectations that society feels a business should have (the exact definition also varies from person to person). Some discretionary responsibilities society may have for Snuggly Stuffed Toys Inc. may be the expectation that the company is using eco-friendly materials to create their products or using hypoallergenic products to ensure safety for all