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Chapter 15 Lecture 1
Definitions and Relationships
Corporate social responsibility (CSR) is the
process by which businesses negotiate their role in
society
In the business world, ethics is the study of
morally appropriate behaviors and decisions,
examining what "should be done
Although the two are linked in most firms, CSR
activities are no guarantee of ethical behavior
Recent Evidence of CSR Interest
An Internet search turns up 15,000 plus
response to corporate citizenship
Journals increasingly rate businesses (and
NGOs) on socially responsive criteria:
Best place to work
Most admired
Best (and worst) corporate reputation
Reasons for CSR Activities
CSR activities are important to and even
expected by the public
And they are easily monitored worldwide
CSR activities help organizations hire and
retain the people they want
CSR activities contribute to business
performance
Corporate Social Responsibility Continuum
Do more than
required; e.g. Integrate social
engage in objectives and
philanthropic business goals
Fight social giving
responsibility
initiatives
Maximize firms Balance profits
profits to the and social
exclusion of all objectives
else
Do what it
takes to Lead the
make a Comply;
industry
profit; skirt do what
Articulate and other
the law; fly is legally
required social value businesses
below objectives with best
social radar practices
CSR are Grounded by Opposing Objectives
(Maximize Profits to Balance Profits with Social
Responsibility) and so Activities Range Widely