CHAPTER_1 - CHAPTER 1 Social Responsibility Framework...

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CHAPTER 1 Social Responsibility Framework 0PURPOSE AND PERSPECTIVE The purpose of this chapter is to give students an overview of social responsibility and to provide a general framework for studying the field of business and society. First, we define social responsibility and consider its relevance to business types, strategic focus, and stakeholder orientation. Next, we consider the development of social responsibility, and the changing nature of expectations in our increasingly global economy. Finally, we offer a framework for this text for studying social responsibility, including such elements as strategic management for stakeholder relations; legal, regulatory, and political issues; business ethics; corporate governance; consumer relations; employee relations; community relations and strategic philanthropy; environmental issues; technology issues; strategic philanthropy; and the social audit. 0LECTURE OUTLINE I0. Social Responsibility Defined0 A0. In most societies, businesses are granted a license to operate and the right to exist through a combination of social and legal mechanisms.0 10. Businesses are expected to pay taxes, abide by laws and regulations, treat employees fairly, follow through on contracts, and meet many other standards. 20. Businesses today are expected to look beyond self-interest and recognize that they belong to a larger group that expects responsible participation. B0. Society grants corporations both benefits and responsibilities. C0. Social responsibility is the extent to which a business adopts a strategic focus for fulfilling the economic, legal, ethical, and philanthropic responsibilities expected of it by its stakeholders. D0. Social responsibility applies to all types of businesses0. 10. All types of businesses—small and large, sole proprietorships and partnerships, as well as corporations—implement social responsibility initiatives. 20. Activities of small businesses may have the greatest impact on local communities. E0. Social responsibility adopts a strategic focus0 10. Responsibility involves action, measurement, and results.
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This note was uploaded on 04/17/2008 for the course BUS 260 taught by Professor Schultz during the Spring '08 term at Carroll WI.

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CHAPTER_1 - CHAPTER 1 Social Responsibility Framework...

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