BU111 Lecture Notes - Lecture 8: Corporate Social Responsibility

• School: WLU
• Department: Business
• Course: BU111
• Professor: Sofy Carayannopoulos

Document Summary

Customs (affect customer preferences, worker attitudes & behaviours) Values (affect customer preferences, increase emphasis on health & cleaning environment, how you treat elderly) Attitudes (some countries value work first, attitude toward social safety net) Demographic characteristics (helps predict size of market, how big, age, level of education, level of income, participation rates) Significance: affect customer preferences and worker attitudes and behavior, standards of business conduct, and corporate social responsibility. Ethics: (cid:862)i(cid:374)di(cid:448)idual sta(cid:374)dards/beliefs regardi(cid:374)g (cid:449)hat is right a(cid:374)d (cid:449)ro(cid:374)g or good a(cid:374)d bad(cid:863) If there is disconnect between ethics of employee and company (csr gaining employee commitment) Business or managerial ethics: (cid:862)sta(cid:374)dards of beha(cid:448)iour that guide i(cid:374)di(cid:448)idual (cid:373)a(cid:374)agers i(cid:374) their (cid:449)ork(cid:863) (when you form leadership team to form strategy, managerial preferences diamond e) What organization does to & for stakeholders (how organization interacts with stakeholders: minimum wage goes up lower profits unhappy investors & happy employees, you want to try and balance the two)