BUS 223 Lecture Notes - Lecture 6: Corporate Social Responsibility, Social Web, Keybank
8 Sep 2017
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If a business is not causing harm, but could easily prevent harm from occurring, it is their responsibility. Some argue that this deserves praise, but is not something business have to do; a responsible person is charitable, but donating to charity is neither an obligation nor a duty. In other cases, a business might contribute to a social cause without seeking any reputational benefits (when business contribute to charities anonymously) The economic model appeals to two fundamental ethical norms for its justification -> utilitarian considerations of social well-being and individual rights; for both, due consideration must be given to all affected parties. Utilitarian theory -> commitment to balance the interests of all involved, and to give everyone consideration; the stakeholder theory acknowledges this by requiring management to balance the ethical interests of all affected parties. Integrative model of csr: social entrepreneurship: a movement that seeks to address social problems through the creativity and the efficiency of market forces.
