SMG SM 131 Study Guide - Midterm Guide: Franchise Disclosure Document, Social Enterprise, Business Continuity

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Phyllis Mc Ginnis

Document Summary

Coorporate social responsibility: actions that go beyond what the law requires to encourage positive social impact. Milton friedman: managerial capitalism: busi(cid:374)ess"s o(cid:374)l(cid:455) respo(cid:374)si(cid:271)ilit(cid:455) is to (cid:272)reate profit (cid:449)ithi(cid:374) legal li(cid:373)its, businesses are also responsible to keep the market open and competitive. Edward freeman: stakeholder theory: stakeholders, in addition to shareholders, all contribute to the success of the corporation, therefore the business directors have responsibility toward them. Reich: the case against corp. social responsibility, p. 2-9 (red questrom course packet. Robert b. reich: supercapitalism: unless helps profits and the shareholders, business should not engage in social activities. It is the go(cid:448)er(cid:374)(cid:373)e(cid:374)t"s jo(cid:271) to address so(cid:272)ial issues. It erodes democracy, for some find pushing businesses easier than lobbying the government. Porter and kramer: creating shared value (red questrom course packet) Identify all the societal needs, benefits, and harms that are or (cid:272)ould (cid:271)e e(cid:373)(cid:271)odies i(cid:374) the fir(cid:373)"s produ(cid:272)t.