Question: Post 1 reply to classmates or your faculty member. Be constructive and professional. When speaking of social value, it is important to understand that this

Post 1 reply to classmates or your faculty member. Be constructive and professional.

When speaking of social value, it is important to understand that this is relative, in most cases, to the individual's experiences and the changes that happen throughout their lives. On the other hand, economic value is often described as that which can be measured in a monetary way, in terms of currency; for example, how products or services offered to a group or to an individual and how it benefits the organization economically. It is very common for organizations to think of only the economical value as it pertains to their business because it is a tangible way to measure success or failure. I believe it is crucial, however, for organizations to keep both values in mind because these will determine not only the company's growth or success but whether or not the customers have a positive impact from consuming their services or products. Being socially responsible while still making a profit is very doable and possible in today's environment. It's just a matter of doing proper research and having processes in place that can be measurable and tangible in determining the best way to provide these services and products.

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