SMG SM 131 Lecture Notes - Lecture 1: Corporate Social Responsibility, Employee Engagement, Triple Bottom Line

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Rebecca Nichols

Document Summary

Business: has little concern for the consumer, exploits employees, cares nothing about the deteriorating social order, has no concept of ethical behavior. Is indifferent to the problems of minorities and the environment. Csr as a concept: csr means seriously considering the impact of a company"s actions on society, csr requires the individual to consider his or her acts in terms of take note. Example: recycling, only selling organic foods: legal- following/violating the law, economic- be profitable, maximize sales, minimize costs. The expectations that society has of organizations at a given point of time. If people are more socially conscious, they will be less competitive. Arguments in support of csr: enlightened self-interest: businesses must take actions to endure long-term viability, warding off government regulations. This is one of the most practical reasons. The law has slow reactions, where they make regulations later: resources available: business has the resources and expertise. Let it try: pro-action is better than reaction.