MGMT 1P93 Lecture Notes - Lecture 3: Green Marketing, Consumerism, Planned Obsolescence
30 Mar 2015
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Document Summary
Social responsibility: the obligation of a business to contribute to society. Business ethics: application of right and wrong in the workplace. Appearance of shaky ethics can be deeply damaging. Ceos in particular must communicate their personal commitment to high ethical standards and consistently drive the message down to employees through their actions. No contribution: does only what is legally required. Responsive: reacts on a case by case basis. Proactive: integrate social responsibility into their strategic plans. Creating jobs that work: meet legal standards, provide workplace safety, meet minimum wage/overtime requirements, value employees, provide work/life balance. The right to be safe, the right to be informed, the right to choose, the right to be heard. Planned obsolescence: designing products to fail after a specific period of time. Corporate philanthropy : business donations including money and time. Cause related marketing: partnerships between business and non profit organizations designed to spike sales for the business and raise money for the non profit.
