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)
● 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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