Exam1 - FC5

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Charity Principle and Stewardship Iron Law of Responsibility
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In the long run, those who do not use power in ways that society considers responsible will tend to lose it. Corporate social responsibility principles:
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Economic, Social, and Legal Responsibilities 1. Corporate social stewardship 2. Corporate social responsiveness 3. Corporate/b usiness ethics
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4. Corporate/gl obal citizenship
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Phases of corporate social responsibility: Multiple responsibilities of business include:
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Enlightened Self- Interest Economic; Legal
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The duty in making and returning profits is ____ responsibility, while what you have to meet because the law is the minimum is ____ responsibility. Combination of economic and social requirements; like people, companies are self-interested, so do what’s in your best interest while helping others.
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Corporate Social Responsibility Corporate Social Responsibility
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businesses interact with the organization’s stakeholders for social good while they pursue economic goals. Expectation of both
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