MGMT 1040 Lecture Notes - Lecture 5: Corporate Social Responsibility, Acid Rain, Reputation Management
14 Mar 2018
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Carroll s pyra(cid:373)id of (cid:272)orporate so(cid:272)ial respo(cid:374)si(cid:271)ility- in this pyramid a corporation has four types of responsibilities. The first and most obvious is the economic responsibility to be profitable. The second is the legal responsibility to obey the laws set forth by society. The third, which is closely linked to the second, is the ethical responsibility. That is to do what is right even when business is not compelled to do so by law. Also called the discretionary responsibility, it is best described by the resources contributed by corporations toward social, educational, recreational and/or cultural purposes. Reputation management- is the influencing and the control of an individual"s or business"sreputation. Corporate management- the process of leading, administrating and directing a company. Business tasks often performed by corporate management might include strategic planning. Social impact management- the field of inquiry at the intersection of business needs and wider societal concerns that reflects the complex interdependency between these two realities.
