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Fall 07 _4 HO_outline and quotes

Fall 07 _4 HO_outline and quotes - (customers employees...

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PART ONE: THE CONTEXT OF BUSINESS CONT’D A. THE ECONOMIC ENVIRONMENT B. THE ROLE OF GOVERNMENT C. CORPORATE SOCIAL RESPONSIBILITY 1. TAKING ACCOUNT OF STAKEHOLDERS’ INTERESTS DEFINING CSR GOOD BUSINESS: ENLIGHTENED SELF- INTEREST EXIT & VOICE MECHANISMS FOR STAKEHOLDERS 2. ETHICS AND THE INDIVIDUAL BCOR1010 9/10/07
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In a 2002 article in Fast Company, “Five Half Truths of Business,” CEOs of the 200 largest companies in the US viewed their responsibility as: Balancing the shareholder’s expectations of maximum return against other priorities is one of the fundamental problems confronting corporate management. The shareholder must receive a good return, but the legitimate concerns of other constituents
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Unformatted text preview: (customers, employees, communities, suppliers, and society, at large) also must have appropriate attention. From an editorial in the New York Times by Thomas Freidman on the subject of addressing the issue of climate change and possible solutions: ….power utilities, factories and car owners have to be required to pay the real and full cost to society of the carbon they put into the atmosphere. And higher costs for fossil fuels make more costly clean alternatives more competitive . and If regulated industries are not required to value carbon reduction then they will under-invest in efficiency and renewable energy. BCOR1010 9/10/07...
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