GMGT 1010 Lecture Notes - Lecture 16: Investor Relations, Corporate Sustainability, Corporate Social Responsibility

• School: University of Manitoba
• Department: General Management
• Course: GMGT 1010
• Professor: Farhan Islam

Document Summary

Csr: the way a corporation achieves a balance among its economic , social and environmental responsibilities in its operations so as to address share holder and other stakeholder expectations. Dahlsurd dimensions environmental, social , economical, stakeholder, voluntairness. Business and society are interwoven rather than distinct entities. Expectations are placed on business due to its three roles: institutional; organizational; and individual. These three roles can be expressed in terms of three principles of corporate social responsibility: legitimacy; public responsibility; and managerial discretion. Addressing social problems can become financial opportunities (i. e. pollution abatement). Business can solve problems as well as government. Profit maximization is the primary purpose of business (e. g. , milton friedman). Csr would give too much power to business. No reliable guidance for business in csr matters. Business cannot be held accountable unlike social institutions. There is divided support in business community for social involvement. Amoral view: traditional view of business as merely profit-making entity.