Wk10_1301_CSR_(Ch.7,8) - SocialContextofBusiness Week10

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Social Context of Business   Week 10 Corporate Social Responsibility Text Reference: Chapters 7, 8
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    2 Chapter 7 Outline Corporate Social Responsibility: Definition and Key  Elements Case for Involvement and Counterarguments Social Responsibility Theories Pyramid of Corporate Social Responsibility Corporate Sustainability (CS) Reputation Management Social Impact Management Triple-E Bottom Line (TBL) Good Corporate Citizenship
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    3 Corporate Social Responsibility:  Definition The way a corporation achieves a  balance among it economic, social, and  environmental responsibilities in its  operations so as to address shareholder  and other stakeholder expectations.
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    4 Key Elements of CSR Corporations have responsibilities beyond the production of  goods and services. These responsibilities involve helping to solve social problems. Corporations have a broader constituency than just  stockholders. Corporations have impacts beyond simple marketplace  transactions. Corporations serve a wider range of human values than just  economic values. Principles of:  “legitimacy, public responsibility,  managerial discretion”  (Wood, text page 135)
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    5 Case for Involvement Business must satisfy society’s needs. CSR prevents public criticism and government regulation. Business and society are interdependent. CSR is good for the bottom line. Investors and consumers support CSR. Addressing social problems can become financial opportunities  (e.g., pollution abatement). Business should take long-term CSR approach. Social actions improve public image and goodwill. Business can solve problems as well as government. Proactive approach is better than reactive. Businesspeople are also concerned citizens.
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    6 Counterarguments Profit maximization is the primary purpose of business. Business is responsible to shareholders. Social policy is role of government. Business lacks training in social issues. CSR would give too much power to business. Business involvement in social matters increases costs. No reliable guidance for business in CSR matters.
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This note was uploaded on 04/22/2010 for the course MANAGEMENT ADM 1301 taught by Professor Audi during the Spring '08 term at University of Ottawa.

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Wk10_1301_CSR_(Ch.7,8) - SocialContextofBusiness Week10

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