MGMT 2130 Lecture Notes - Lecture 3: Impact Investing
8 Feb 2020
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Chapter 3: moral principles or beliefs about what is right or wrong, moral principles that guide human behaviours are often based on a societies cultural norms, customs, values, and beliefs. Individual ethics the personal values and standards that result from an influence of family, friends, upbringing, and involvement in social institutions. Law is society"s codification of what is right and wrong: play the rules of the game, economic responsibility, be profitable, the foundation upon which all others rest. Approaches to csr: obstructionist approach low csr, defensive approach some csr, accommodative approach some csr, proactive approach high csr. Pros: organization bears some of the cost of ensuring the well-being of employees, quality of life improves, business increases due to competitive advantage, socio-cultural and environmental harmony. Cons: the responsibility of the company is to maximize profits for stakeholders and csr takes profits away from stakeholders, stakeholders perceive unequal benefits.
