CSR_ss - IIIri the long run, those who do not use. power in...

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Unformatted text preview: IIIri the long run, those who do not use. power in a manner which society considers responsible wili tend to lose it.“ Charity Principle: Bu shouid give Volunan aid to society’s needy persons and groups. The Stewardship Printiple: Business must act as a public trustee I. Has oon Ji'oili'i 'r as Primary inuuluement Secondary inunlnemenl W0 Tertiarg inuuluement Arguments for Corporate Social Responsibility: - Business must balance power with responsibilityI or lose the power [iron law}. ' Avoid government regulation. - Promote long-term profits. - To maintain andfor improve reputation: building trust and loyalty among customers.employees. and other stakeholders. ' To compensate society for harms. Arguments Against Corporate Social Responsibility: ' Lowers economic efficiency and profits. - lmposes unequal costs among competitors. ' Requires expertise that business may lack. ' Only individuals. not collectives like corporations. can have responsibility. Balancing Economic, Legal, and Social Responsibility ...
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CSR_ss - IIIri the long run, those who do not use. power in...

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