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soc_respons - Greg Lim Social Responsibility TA Chris Dean...

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Greg Lim 1/29/08 Social Responsibility TA: Chris Dean A company’s social responsibility can be defined as a business’s obligation to benefit society. While some companies follow the shareholder model of social responsibility, where the only responsibility is to maximize profits, most companies utilize the stakeholder model of social responsibility, where companies must satisfy interests and needs of multiple stakeholders. The McDonald’s corporation for example most likely utilizes the stakeholder model. The primary stakeholders, or groups that the company depends on survival, include shareholders, customers, employees, suppliers, local communities, and governments. Secondary stakeholders or groups that can have a smaller influence on the company, include the media and special interest groups such as groups in favor of the fair treatment of the cattle used by McDonalds. In terms of priority of responsibility, McDonalds is first and foremost responsible to its shareholders to make a profit.
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