ADMS 1010 Lecture Notes - Lecture 3: Triple Bottom Line, Iso 14000, Wced

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1965 accused auto firms of prioritizing cost concerns over human safety. 1960s increased social pressure for corporate reform and activists stockholders aiming to influence corporate goals. 1971 milton friedman writes his famous rebuttal. Corporate executives (agents) are responsible to owners (principles) ~ conduct business to their desires maximize profits! As individuals they ca choose to spend their money however they want (social causes) As agents, csr expenditures equate to spending someone else"s money. Political principle of market mechanism = unanimity (agreement by all people in a given situation) Political principle of political mechanism = conformity (the act of matching attitudes, beliefs, and behaviors to group norms) 1984 ed freeman believes firms are successful in all stakeholders" eyes. 1987 wced releases report called our common goal. 1997 john elkington creates the triple bottom line. 2001 enron collapses, brings focus onto business ethics and corporate governance. Evidence: a response to the question: why is it true, argument = claim + evidence.

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