GMGT 1010 Lecture 45: GMGT 1010 Lecture 45

• School: University of Manitoba
• Department: General Management
• Course: GMGT 1010
• Professor: Brock V.Cordes

Document Summary

Corporate social initiatives: dimension of social responsibility that includes enhanced forms of corporate philanthropy that are more directly related to the company"s competencies. Ex: tide doing laundry during flooding in alberta. Corporate responsibility: dimension of social responsibility that includes everything from firing minority workers to making safe products. Corporate policy: dimensions of social responsibility that refers to the position a firm takes on social and political issues. There are two difference views of corporate responsibility to stakeholders: The strategic approach: managements primary orientation towards the economic interests of shareholders shareholders have the right to expect management to work in their best interests to optimize profits. The pluralist approach: recognizes the responsibility of management to optimize profits, but not at the expense of employees, suppliers, and members of the community. 21st century will be some version of the pluralist approach. Ethics matters the most is when the company is tested in a crisis responsibility to.