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u3PGp5DP11Uk - Corporate Social Responsibility Purpose of...

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Corporate Social Responsibility
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Purpose of Business Purpose of Business To make money To maximize shareholder wealth To create value
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Should business have social Should business have social goals as well? goals as well? Recent polls : Should corporations be more involved in resolving social problems? 69% of executives said yes 89% of MBAs said yes Is the only goal of business to make money? 95% of adults polled said no
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95% of Respondents 95% of Respondents Agree… Agree… “U.S. corporations should have more than one purpose. They also owe something to their workers and communities in which they operate and they should sometimes sacrifice some profit for the sake of making things better for their workers and communities.” Source: "How Business Rates: By the Numbers,“ Business Week, Sept. 11, 2000, pp. 148-149.
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Social and Economic Goals Social and Economic Goals Pursing economic goals creates social costs Pursuing social goals creates economic costs
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What is Corporate Social What is Corporate Social Responsibility? Responsibility? The adoption by a business of a strategic focus for fulfilling the economic, legal, ethical and philanthropic social responsibilities expected by its stakeholders.
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Corporate Social Corporate Social Responsibility Responsibility Philanthropic Ethical Legal Economic
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Philanthropic Issues Philanthropic Issues Historically this has been financial donations for worthy causes.
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