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SEM 201: Societal Impact and Analysis Focus Social Issues and the Workplace Societal Contributions from Private and Public Sectors Organizations in private and public sectors are cornerstones of social development due to their influence on labor markets and the supply chain . Both sectors offer part -time, full -time, seasonal, and contract employment and are key stakeholders in creating jobs that contribute to the nation’s economic growth and social welfare (Lazzari, 2018). Earnings and income are crucial for social development and have direct relationship with economic growth and social progress. Althoug h public and private sectors provide necessities and demands for the global community , their principles, funding practices and operations are relatively different . Private sector fundamental goals are to generate profit and focus on the stability of revenue growth , while public sector s are service driven organizations funded by taxpayers (Koch, 2005 ). Moreover, private sectors are less service oriented and provide goods and services to primarily earn surpluses for sustainability . Jobs in areas such as education and telecommunication can be found in both public and private sectors. The difference is the organizat ion’s objective - is it se rvice oriented or profit driven? Public sector jobs are created with the basic goal to serve society. Public sector positions include teachers and safety jobs such as police officers and firefighters , which pr ovide education and security for communities (Lazzari, 2018). Individuals employed in public sector positions are engaged in operations that provide government goods and public services to society . According to The Institute of Int ernal Auditors (2011) , the four levels of government and publicly controlled agencies in the public sector are international, national, regional, and local, in which each level consists of three types of organizations: core government, ag encies, and public enterprise. G overn ment owned state businesses and public contractors are not legally considered public sector organizations although they may receive public funding for their operation . Public sectors jobs are regulated by guidelines that involve a structured bureaucratic check and balance process within its governance ( Goodson, Mory, & Lapointe, 2011 ). Although public sector jobs may have firm government regulations, there are several employment advantages in this domain when compared to the private sector , to include appealing retirement and health benefits and job stability (Lazzari, 2018). These concepts are key supporters of social welfare and wellness. Earning potential is higher for individuals employed in the private sector verses the public sector (Lazzari, 2018) . Additionally, when organizations ’ earning potential increase , these gains are generally passed on to stakeholders, which ultimately impacts the economy. However, since the private sector compensates workers with organizational surpluses , there is a higher risk of job elimination and lay offs. If an organization’s continuity is threatened, p rivate sector leaders may cut jobs if revenues are not generated to support the organization’s operation . This could negatively impact economic growth and social welfare. Organizational Products and Services Fitzgerald and Cormack (2006) suggest that the role of private and public organization is “to innovate and deliver products and service” that address societal nee ds and wants (p. 8). Public and private sectors have homogenous goals to provide products and services to society and may SEM 201: Societal Impact and Analysis Focus even collaborate to address specific needs in the community (Lazzari, 2018) . For example, Federal Emergency Management Agency (FEMA ), a government agency that coordinates relief efforts, may work with private organizations and crew s to provide emergency service after natural disasters . Services are intangible transactions that describe an organization ’s operation , while p roducts are generally perceptible items with physical size, shape, and weight and are usually in demand and exchangeable ( Huang , Newnes , & Parry, 2012 ). There is some ambiguity when identifying services as products due to saleable characteristics that may exist, such as music. Although music is intangible, it can be sold for a profit. There are no distinct characteristics that determine whether a product or service is identified as public or private ; however, for marketing purposes, “public sector products are defined as services commonly provided under the aegis of the state at various levels” (Butler & Collins, 1995, p. 84 ). The Theory of Higher Purpose and Corporate Social Responsibility Many private sectors are making decisions based on the theory of higher purpose in which they provide products or services that produce a non -financial social benefit for society (Thakor & Quinn, 2013). The idea is that organizational activities that focus on higher -purpose guide businesses to pursue goals while providing social benefits. Studies have suggested that companies led by individuals who were driven by a sense of higher purpose (in cluding positive core beliefs and values) provided opportunities to exceed their competitors in exploratory projects and innovations (Manohar, Pandit, 2013). In other words, employees who had ethical social company values guiding their work led to a more p roductive, creative workforce, a double -benefit. Company investment (values, time, and energy) in social and global issues important to their employees promotes commitment and creativity in the workers. Furthermore, the involvement of employees in the deve lopment of a company code of ethics ensures more buy -in and commitment to the guidelines (Hill and Rapp, 2014). These considerations are key factors for organizations profitability and societal support. Organizations must implement operational strategies t hat enhance sustainability to strengthen their likelihood to continue contributions to the workforce, address environmental need, and support social welfare advancement (Noren, 2004). Organizations must be viable to create economic and social value that support society though the workforce and within the supply chain. The Suitable Business Council (2010) defines Corporate Social Responsibility (CSR) as the commitment for organizations to impact economic growth through the workforce as well as support soc ial development and environmental accountability in an ethical manner. It has been suggested that different professions place more emphasis on values within the workplace, especially public -service sectors (Kernaghan, 2003) but recently there has been reco gnition for the need to incorporate Corporate Social Responsibility (McPherson, 2018). There is an expectation that companies will be engaged in issues that are important to their employees (McPherson, 2018). Forbes lists recent CSR issues to include creat ing equality and addressing harassment (#MeToo movement), expanding diversity (gender, culture, age etc), Forward -thinking brand activism (instead of reacting to events - shootings etc.),climate resilience/prevention (instead of disaster recovery - fires, hu rricanes etc.), corporate citizenship (involvement at the corporate level), higher standards for suppliers (human trafficking), data protection (privacy for data - Target breach) (McPherson, 2018). It has been found that effective implementation of the Corp orate Social Responsibility principles also develops good -will and the public’s confidence in the system/corporation/company (Jizi, Salama SEM 201: Societal Impact and Analysis Focus Dixon, and Stratling, 2014). The public is more likely support organizations that incorporate CSR. SEM 201: Societal Impact and Analysis Focus References Butler, P. & Collins, N. (1995). Marketing public sector service: concepts and characteristics. Journal of Marketing Management, 11, 83 -96. Fitzgerald, N. & Cormack, M. (2006). The role of business in society: an agenda for action. The Confederate Board, Harvard University CSR Initiative, and the International Business Leaders Forum , 1 -36. Hill, R. P., & Rapp, J.M. (2014). Codes of ethical conduct: A bottom -up approach, Journal of Business Ethics, 123( 4 ), 621 -630. Huang, X. , Newnes, L., & Parry, G. (2012). The adaptation of product cost estimation techniques to estimate the cost of service, International Journal of Computer Integrated Manufacturing, 25:4 -5, 417 -431, DOI: 10.1080/0951192X.2011.596281 . Jizi, M., Salama, A., Dixon, R. & Stratling, R. (2014). Corporate governance and corporate social responsibility disclosure: Evidence from the US banking sector, Journal of Business Ethics, 125(4), 601 -615. Kernaghan, K. (2003) Integrating valu es into public service: The values statement as centerpiece, Public Administration Review, 63 (6), 711 -719. Koch, Per (2005). The difference between the public and private sectors. The Publin Post Newsletter, 7, 1 -9. Lazzari, Z. (2018). "What is the meaning of public sector employment v. private? Small Business - Chron.com , https://smallbusiness.chron.com/meaning -public -sector -employment -vs -private - 32297.html . Manohar, S.S., & Pandit, S.R. (201 4). Core values and beliefs: A study of leading innovative organizations, , Journal of Business Ethics, 125(4), 667 -680. McPherson, S. (2018). 8 corporate social responsibility (CSR) trends to look for in 2018, Forbes , https://www.forbes.com/si tes/susanmcpherson/2018/01/12/8 -corporate -social -responsibility - csr -trends -to-look -for -in-2018/#1c44fe2340ce Noren, G. (2004). The role of business in society, The Confederation of Swedish Enterprise , 1 - 33. Goodson, S., Mory, K., & Lapointe, J. (2011). Supplemental guidance: public sector definition. The Institute of Internal Auditors , 1 -8. Privacysense .net. “Private sector”, http://www.privacysense.net/terms/private -sector/ , Retrieved SEM 201: Societal Impact and Analysis Focus November 16, 2018. Suitable Business Council, (2010). “The social role of business”. New Zealand Business Council for Sustainable Development , 1-27 . Thakor, A., Quinn, R. (2013 ). “The economics of higher purpose ”. ECGI Working Paper Series in Finance , 1.