corporate social

corporate social - MGMT1001 MGMT1001 Fundamentals of...

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MGMT1001 Fundamentals of anagement Management Corporate Social esponsibility (CSR) and Responsibility (CSR) and Ethics
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LECTURE OUTLINE ± What is Social Responsibility? Classical & socioeconomic views Role stakeholders play Arguments for & against Social obligation, responsiveness or responsibility Evidence on social involvement & ec performance ± Green Management & Social Responsibility alues ased Management & Social Resp ± Values-Based Management & Social Resp.
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LECTURE OUTLINE (continued) ± Managerial Ethics Views of ethics & levels of moral development. Variables that affect ethical and unethical behavior. Determinants of issue intensity. ao u y Codes of ethics and their effectiveness ocial responsibility & ethics today ± Social responsibility & ethics today Why ethical leadership is important rotecting whistleblowers and social impact management Protecting whistleblowers and social impact management ± Some recent cases/examples
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Definitions of social involvement ± Social responsibility - obligation beyond that of law and economics for a firm to pursue long term goals that are good for society ± Social obligation - obligation of business to meet economic and legal responsibilities apacity of firm ± Social responsiveness - capacity of firm to adapt to changing societal conditions
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hat is social responsibility? What is social responsibility? The classical view anagement’s only social responsibility is to maximise z Management s only social responsibility is to maximise profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). z Expending the firm’s resources on doing “social good” njustifiably increases costs that lower profits to the unjustifiably increases costs that lower profits to the owners and raises prices to consumers
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hat is social responsibility? (Cont’d) What is social responsibility? (Cont d) The socioeconomic view z Management’s social responsibility goes beyond making gp y g y g profits to include protecting and improving society’s welfare. z Corporations are not independent entities responsible only to stockholders. z Firms have a moral responsibility to larger society to become involved in social, legal, and political issues. z “To do the right thing”
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Arguments for and against social sponsibility responsibility FOR Public expectations Long-run profits AGAINST Violation of profit maximisation Dilution of purpose Ethical obligation Public image Costs Too much power Better environment Discourage further regulation alance of responsibility and power Lack of skills Lack of accountability Balance of responsibility and power Stockholder interests Possession of resources Superiority of prevention over cure
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oes social responsibility pay? Does social responsibility pay?
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corporate social - MGMT1001 MGMT1001 Fundamentals of...

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