BUSS1000 Lecture 2: BUSS1000 - w2

• School: University of Sydney
• Department: Business Studies
• Course: BUSS1000
• Professor: Steven Hitchcock

Document Summary

Current, potential, retirees industry suppliers, industry associations, media: community residents near company facilities (benefit community businesses, environment. Nature, future generations, scientists, ngos: government. Public authorities, local policymakers: civil society organisation. Use resources and engage in activities designed to increase profits (classical economics) friedman (1970) Change due to increasing public consciousness e. g. global warming, and increasing dissatisfaction with the actions/effect of businesses: corporate social responsibility (csr) societal pressure philanthropy give back to society a little despite still trying to profit. Actions that appear to further some social good beyond the interest of the firm and that which is required by law" mcwilliams & siegel 2001. ~ ethics and legality of spending shareholder"s money on ventures unrelated to organisation"s profitability and performance illegal to use shareholder"s money to contribute to csr, needs to be out of company profits: creating shared value (csv)