MGMT-340 Lecture Notes - Lecture 38: Corporate Social Responsibility, Financial Statement, Business Case
Document Summary
Midterm review- chapter 3: responsibility beyond economic and legal obligations to act ethically and to. Corporate social responsibility contribute in a positive way to society. In (cid:498)legal and non deceptive ways(cid:499)- milton friedman, capitalism and: primary emphasis is on meeting fiduciary obligations freedom. Investors: suppliers, local communities, plus, government agencies, secondary stakeholders-characterized by public perceptions, media, special interests/ngo. Integral to vision, mission, goals and processes of company. Stakeholder attributes: helps managers identify which stakeholders have a valid claim and need for their attention, power- the stakeholder could affect the business, produce an effect, ex. Implementing csr: project oriented csr, specific need of internal or external stakeholder is addressed, ex. Volunteering activity: quality- oriented csr, quality control systems, environmental or social needs are addressed, ex. Day care center for children of employees, or reducing (cid:498)carbon footprint(cid:499: csr integrated in decision making processes, sees social needs as opportunities for better business.
