Chapter 14 outline - Chapter 14 Managing Corporate Social...

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Chapter 14 – Managing Corporate Social Responsibility Globally Corporate social responsibility (CSR) – consideration of, and response to, issues beyond the economic, technical, and legal requirements of the firm to accomplish social benefits along with the traditional economic gains that the firm seeks Stakeholder – any group/individual who can affect or is affected by the achievement of the organization’s objectives A Stakeholder View of the Firm A Big Picture Perspective Global sustainability – the ability to meet the needs of the present without compromising the ability of future generations to meet their needs around the world o Driven by three concerns: Increasing population, poverty, and inequity are associated with globalization and require new solutions Relative power of national governments has eroded in the wake of globalization, but the influence of nongovernmental organizations (NGOs) and other society stakeholders has increased Industrialization has created irreversible effects of the environment Managers must prioritize o Identify primary and secondary stakeholders Primary and Secondary Stakeholder Groups Primary stakeholder groups – constituents on which the firm relies for its continuous survival and prosperity o Shareholders, managers, employees, suppliers, customers, governments who provide regulations Secondary stakeholder groups – those who influence or affect, or are influenced/affected by, the corporation but are not engaged in transactions with the corporation and are not essential for its survival o Environmental groups (Greenpeace), fair labor groups Firms should not simply pursue the economic bottom line (profits and returns) o They should pursue a more balanced triple bottom line
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This note was uploaded on 03/12/2012 for the course ACCT 211 taught by Professor Kamlet during the Spring '08 term at Binghamton University.

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Chapter 14 outline - Chapter 14 Managing Corporate Social...

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