SMG SM 131 Lecture Notes - Lecture 8: Socially Responsible Investing, Energy Policy And Conservation Act, Corporate Social Responsibility

• School: Boston University
• Department: School of Management
• Course: SMG SM 131
• Professor: Rebecca Nichols

Document Summary

Carroll four-part definition of csr: corporate social responsibility encompasses the: economic, legal, ethical, and. Philanthropic expectations that society has of organizations at a given point in time. Activities or characteristics of a socially responsible company. Obeys the law in all aspects of business. Arguments in support of csr: enlightened self-interest: businesses must take actions to ensure long-term viability, warding off government regulations. This is one of the most practical reasons: resources available: business has the resources and expertise. Pro-action is also less costly: public supports: the public strongly supports csr. The business case for csr: 6 reasons for embracing csr. Innovation: cost savings, brand differentiation, long-term thinking, customer engagement, employee engagement. Improve business reputation and standing ethical business activities. Recently it has become clear that it pertains to the natural environment, and other business environments as well. The triple bottom line perspective: business must attend to three key spheres of sustainability: economic, social,