CA Template .docx - BMAL 560 Liberty University CA Template What is the business issue(problem Corporate Social Responsibility and its Impact on

CA Template .docx - BMAL 560 Liberty University CA Template...

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BMAL 560 Liberty University CA Template What is the business “issue” (problem): Corporate Social Responsibility and its Impact on Consumer and Employee Attitudes PRINCIPLE: Defined as the way a corporation should act that improves society and its inhabitants and should be held liable for any of its action that impacts people, their communities, and their environment (Lawrence & Weber, 2016, p. 48) Established to create a commitment to give back to society and the organization’s stakeholders Corporate social responsibility is based on the root of its term; responsibility. Promotes for the acknowledgement and correction, if possible, of harm done to society and people PRACTICE: Corporate social responsibility is a generally accepted practice worldwide Attitudes toward corporate social responsibility vary due to differences of opinions about it increasing profits or denying society of essential goods and services Companies have used the term corporate citizenship to allude to the actual steps they make to practice the commitments to corporate social responsibility Corporate social responsibility is a radical concept because a company’s economic, legal, and societal responsibilities can either be in tension or harmonize together (Lawrence & Weber, 2017, p. 49) PARTICULARS” CSR was suggested to assist corporations that were under attack for being too big, too powerful, and responsible for antisocial and anti-competitive practices (2000)
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Allows organizations to voluntarily utilize its power and influence for broad social purposes CSR d efines organizations roles in society CSR a pplies social and ethical standards to businesses ( Carroll, 2015 ) CSR development displays the influence of different theories o Agency theory o Institutional theory o The resource-based view of the firm o Stakeholder theory o Stewardship theory o The theory of the firm PERSONS: Individuals & Companies For Corporate Social Responsibility o Johnson & Johnson – a definitive example of receiving long-term benefits of CSR o Sodexo – devoted to developing an affirmative reputation o Coca-Cola - invest 1% of its operating income back into the community the The Coca-Cola Foundation and The Coca-Cola Company (coca-colacompany.com, 2017) o Bobbi Silten; Executive VP of Global Talent & Sustainability at Gap, Inc., recognizes and administers CSR in the managerial practice o Philip H. Mirvis & Bradley K. Googins (Boston); Center for Corporate Citizenship – believes in the development of new attitudes and the design of new policies and action programs (Lawrence & Weber, 2017, p. 60 ) Individuals Against Corporate Social Responsibility o Aaron Feuerstein; owner of Malden Mills – used some of his resources for social purposes, which resulted to him having to file for bankruptcy and lost control of his company o Milton Friedman argued that a corporation does not have responsibilities to society and its purpose is to increase its shareholders returns
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