ADMS 3660 Lecture Notes - Lecture 4: Merck & Co., The Body Shop, Corporate Social Responsibility
6 Jan 2017
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--(cid:498))dea of social responsibility supposes that the corporation has not only economic and legal obligations, but also certain responsibilities that extend beyond these obligations(cid:499) --(cid:498)social responsibility is the obligation of decision makers to take actions which protect and improve the welfare of society as a whole along with their own interests(cid:499) Relationship between business ethics and corporate social responsibility. Cause related marketing (percent of product price goes to charitable cause) Cradle to cradle (design products to create new products) Environmental footprint (cid:523)human demand versus planet(cid:495)s ability to regenerate(cid:524) Fortune at the bottom of the pyramid (e. g. , microfinance) Social enterprise (business where profits used to further social aims) Social entrepreneur (visionary leader of non-profit used to solve social issues) Triple-bottom line (economic prosperity, environmental quality, social equity) Try to locate the following examples within the three domain model: The argument against the broad csr: stockholder model. Milton friedman, nobel prize winning economist, writes in new york times magazine in 1970:
