Chapter 5 - Management Roundtree Erica Shannon Definitons...

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Management Chapter 5 – pgs. 144-148 Roundtree January 30, 2008 Erica Shannon Definitons - Corporate Social Responsibility (CSR) : idea that business had social obligations above and beyond making a profit - Stakeholder audit : identification of all parties that might be affected by the organization - Iron law of responsibility : those who do not use power in a socially responsible way will eventually lose it - Reactive social responsibility : denying responsibility and resisting change - Defensive social responsibility strategy : resisting additional responsibilities with legal and public relations tactics - Accommodative social responsibility strategy : assuming additional responsibilities in response to pressure - Proactive social responsibility strategy : taking the initiative with new programs that serve as models for the industry - Altruism : unselfish devotion to the interests of others - Enlightened self-interest : a business ultimately helping itself by helping to solve societal problems - Corporate philanthropy : charitable donation of company resources - Ethics : study of moral obligation involving right versus wrong - Values : abstract ideals that shape one’s thinking and behavior - Instrumental value
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Chapter 5 - Management Roundtree Erica Shannon Definitons...

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