Week 13 Chapter 12 Social Responsibility

Week 13 Chapter 12 Social Responsibility - prosperity...

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Corporate Social Responsibility Some Definitions: Social Responsibility – Consideration of and response to  issues beyond the narrow economic, technical, and legal  requirements of the firm to accomplish social benefits as  well economic gains Stakeholder – Any group or individual who has an  interest (i.e. a stake) in the firm Global Sustainability – The ability to meet the needs of  the present without compromising the ability of future 
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The Fundamental Debate Why does the firm exist? The business of business is business (i.e., profit maximization)? Each stakeholder group have valid interests and the maximization of interests to all groups is what matters? Can this be achieved?
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Stakeholder View of the Firm
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Two Sets of Stakeholders Primary Stakeholders  those on whom the firm relies for survival and 
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Unformatted text preview: prosperity Secondary Stakeholders those who influence or affect, or are influenced or affected by, the corporation, but they are not engaged in transactions with the corporation and are not essential for its survival Lets step back and be philosophical Why care? If it is good for business, of course fine. However, if it is bad for business? Where are the borders on social responsibility? Do we in anyway own the BP Gulf of Mexico oil spill? Lets step back and be philosophical How might national culture change this? How might the state of a nations economic development change this? How about different industries? (e.g., e-business or food service versus heavy manufacturing or mining)...
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Week 13 Chapter 12 Social Responsibility - prosperity...

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