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Unformatted text preview: 9-10-07 Corporate Social ResponsibilityPublic goods: Parks, fire department, schools. oThese are under producedExternalities aka external costsC.Corporate Social Responsibility, CSR: Businesses concern for welfare of societyCompanies try and differentiate themselves so consumers will buy their productC1A.Responsiveness to needs of stakeholdersAKA Corporate citizenshipStakeholders: Any person or society affected/impacted by decisions of businessesoStarbucks has CSR reports- show the world that they careoNow there are marketing firms specialized for this areaCSR bases on: profit, competitive environment, longevity, industry, country, # of employeesoMonopoly: Are you expected to do more for CSR?(pg. 76) Case for: Underproduction of public goodsCase against: Point of business is to make business and govts responsibilityoNot everyone agrees its a valid part of businessC1B.Engaging in responsible conduct is often in the best interest of the businessDoing the right thing cause it benefits you in the end...
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This note was uploaded on 11/01/2010 for the course BCOR 1010 at Colorado.