Lesson_2.docx - Darrell L Johnson Jr 726385 MGT 3200Z Part...

This preview shows page 1 - 2 out of 3 pages.

Darrell L. Johnson, Jr. 726385 MGT 3200Z Part I: Definitions 1. corporate social responsibility : the notion that corporations are expected to go above and beyond following the law and making a profit, to take actions that will benefit the interests of society as well as of the organization 2. stakeholders : people whose interests are affected by an organization’s activities. 3. social responsiveness approach : refers to how business organizations and their agents actively interact with and manage their environments. 4. business ethics : standards of right and wrong that influence behavior in business. 5. social audit : is a way of measuring, understanding, reporting and ultimately improv- ing an organization's social and ethical performance. Part II: Short Answers. (5 points each) 1. Summarize two arguments for and two arguments against corporate social re- sponsibility. - Milton Friedman and other conservative critics have argued against CSR, stating that a corporation's purpose is to maximize returns to its shareholders (or share- holder value) and that it does not have responsibilities to society as a whole. Part of the critics' argument is that managers should not select social causes on behalf of a diverse set of owners. - For: Public expectations: Social expectations of business have increased dramati- cally since the 1960s. Public opinion in support of business pursuing social as well as economic goals is now well solidified. Public image: Firms seek to en- hance their public image to gain more customers, better employees, access to money markets, and other benefits. Since the public considers social goals to be important, business can create a favorable public image by pursuing social goals. 2. Describe the process of converting organizational policies on social responsi- bility into action.
Image of page 1

Subscribe to view the full document.

Image of page 2
  • Fall '19
  • Corporate social responsibility, Top Management

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask 0 bonus questions You can ask 0 questions (0 expire soon) You can ask 0 questions (will expire )
Answers in as fast as 15 minutes