MGMT 3020 Lecture Notes - Lecture 1: Corporate Social Responsibility

• School: University of Guelph
• Department: Management
• Course: MGMT 3020
• Professor: Mark Juhasz

Document Summary

Even though organizations are not legally compelled to be socially responsible , there are societal expectations that are embodied in tradition, laws, agency interpretations, and court rulings. In this course we take the view that csr is an integral part of an organization"s strategy. Csr filter this filter encourages organizations to innovate and to introduce changes wherever they interact with the environment or society throughout their value chain in order to meet the demands of multiple stakeholders. Csr embraces the range of ethical and discretionary actions and obligations that directly or indirectly affect the future economic performance of the firm. Csr is a rational and economic argument for businesses as it allows companies to reflect the needs and concerns of their various stakeholder groups. By doing so, a company is more likely to retain its societal legitimacy and maximize its financial viability over the medium- to long term.