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ADM1301 (111)
Tim Ragan (11)
Lecture

Chapter7.docx

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Department
Administration
Course
ADM1301
Professor
Tim Ragan
Semester
Fall

Description
Chapter 7Corporate Social Responsibility The ConceptCSR The balance among economic social and environmental responsibilities of an organization to its stakeholders and stakeholders expectationsCSR is in companies values culture decision making strategy and reportingBuchholz 5 Key Elements of CSR1Responsibilities beyond producing goods and services for profit2Helping to solve social problems especially ones they have created3Corporations have broader constituency than stakeholders4Impacts go beyond marketplace transactions5Wide range of human values served rather than a sole focus on economic values3 Levels of AnalysisInstitution corporationorganization Individuals3 Principles of CSRlegitimacysociety grants businesses legitimacy and powersociety has the right to impose balance and defines power and legitimate functionsbusiness has the possibility of losing this powerpublic responsibilitybusiness is responsible for the outcomes of involvement with societyresponsibility is limited to businesses activities and interests each corps relationship is specific to its own social ethical and political environmentmanagerial discretion managers are moral actors obliged to exercise as much discretion as is available to them to achieve socially responsible outcomesLevel of application is up to individual and circumstancesArguments For and Against CSRProConSatisfies the needs of Businesses main concern is consumers which is purpose of profit
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