ADM 1301 Lecture : Chapter7.docx

• School: University of Ottawa
• Department: Administration
• Course: ADM 1301
• Professor: Tim Ragan

Document Summary

Chapter #7: csr: the balance among economic, social, and environmental responsibilities of an organization to its stakeholders and stakeholders expectations, csr is in companies values, culture, decision making, strategy and reporting. Society has the right to impose, balance and defines power and legitimate functions. Business has the possibility of losing this power. Business is responsible for the outcomes of involvement with society. Responsibility is limited to businesses activities and interests. Each corp. "s relationship is specific to its own social, ethical and political environment. Managers are moral actors obliged to exercise as much discretion as is available to them to achieve socially responsible outcomes. Level of application is up to individual and circumstances. Increase costs: no guidelines, corporations are not accountable, mixed support, two values of businesses. Corp. "s strive to make profit, obey law, be ethical and be a good corporate citizen.