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Corporate Social Responsibility

Corporate Social Responsibility - Corporate Social...

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9-10-07 Corporate Social Responsibility Public goods: Parks, fire department, schools. o These are under produced Externalities aka external costs C. Corporate Social Responsibility, CSR: Businesses concern for welfare of society Companies try and differentiate themselves so consumers will buy their product C1A. Responsiveness to needs of stakeholders AKA Corporate citizenship Stakeholders: Any person or society affected/impacted by decisions of businesses o Starbucks has CSR reports- show the world that they care o Now there are marketing firms specialized for this area CSR bases on: profit, competitive environment, longevity, industry, country, # of employees o Monopoly: Are you expected to do more for CSR? (pg. 76) Case for: Underproduction of public goods Case against: Point of business is to make business and govt’s responsibility o Not everyone agrees it’s a valid part of business C1B. Engaging in responsible conduct is often in the best interest of the business
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