business Government and Society Chapter 2

Topics: Corporate social responsibility, Social responsibility, Business ethics Pages: 4 (642 words) Published: January 14, 2014
Corporate Social Responsibility is essentially about doing good and doing well.

It generally refers to the process of integrating social values and mission within business decision making, to achieve positive and sustainable outcomes towards business, environment and the community at large. Concept of CSR includes specific issues

Product safety
Honesty in advertising
Affirmative action
Employees rights
Affirmative action
Environmental sustainability
Ethical behavior
Difference btw illegal and unethical behavior
Eg: Buffet: wasted food.
Glob csr

Corporate Citizenship Concepts
Corporate Social Responsibility  Obligation  accountability Corporate Social Responsiveness  Action activity
Corporate Social Performance  outcomes results

Business criticism/ social Responsibility cycle

4-part definition of CSR
Sustainable stakeholder model
The Social Responsibility of business encompasses the economic, legal, ethical and discretionary ( philanthropic) expectations that society has of organizations at a given point of time. Economic Responsibilities

Business employs many management concepts that are directed toward financial performance of the organization Economic sustainability
REQUIRED of biz by society
Profitable
Max sales, min costs
Strategic decisions
Legal responsibilities
Reflect spciety’s view of “codified ethics” in the sensethat they embody basic notions of fair practices as established by our law makers Biz’s responsibility toward society to comply with these laws Do not embrace the full range of behaviours expected of biz by society Law is unable to address all issues that biz may face

Law often lags behind more recent interpretationsof what is considered appropriate behavior Laws are made by lawmakers and may reflect the personal interest and political motivations of legislators rather than appropriate ethical justifications. Laws are essential but not adequate

REQUIRED of biz by society
Obey all...
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