Chapter_7_Corporate_Social_Responsibility_The_Concept

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BUS 306-002  Ethics in Decision Making Chapter 7:  Corporate Social Responsibility (CSR):  The Concept George Z. Peng
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Learning Objectives The purpose of this Chapter is to introduce the concept of  CSR. Most of the materials involve defining and describing  CSR and related concepts.   Corporate Social Responsibility: Definition and Key Elements The CSR Debate (Case for and against CSR )  Social Responsibility Theories Pyramid of Corporate Social Responsibility Corporate Sustainability (CS) Reputation Management Social Impact Management Triple-E Bottom Line (TBL) Good Corporate Citizenship 2
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7.1  The Rationale for Corporate Social  Responsibility 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. Triple E bottom line Triple P bottom line Changing view (from making profit to CSR; from free  enterprise to capitalism) 3
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7.2  Describing  Social Responsibility CSR has many definitions.  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. 4
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7.2 Describing Social Responsibility  (cont’d) According to Wood, the “ basic idea of  corporate social responsibility is that business  and society are interwoven rather than distinct  entities. Pluralistic society 5
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Wood’s Principles of Corporate Social  Responsibility  6 Principle of Legitimacy Principle of Public Responsibility Principle of Managerial Discretion External focus on expectations of society Society grants Adherence of social norms of society Pressures particularly strong on some corporations, e.g. large ones or consumer products
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