MGMT-340 Lecture Notes - Lecture 15: Corporate Social Responsibility, Double Taxation, Financial Statement
Document Summary
Responsibility beyond economic and legal obligations to act ethically and to. Corporate social responsibility contribute in a positive way to society. Milton friedman, the social responsibility of business is to increase its profits: published in new york times magazine 13 september 1970, argues that individuals have social responsibilities, but not businesses. Social responsibilities are that shared values of individuals: corporate executives are agents of owners. Since companies pay taxes already, this is a type of double taxation: execs are experts in running businesses, not making social decisions. Integrates stakeholder and corporate interests: helps managers identify which stakeholders have a valid claim and need for. Stakeholder attributes their attention: power- the stakeholder could affect the business, produce an effect, ex. Implementing csr: project oriented csr, specific need of internal or external stakeholder is addressed, ex. Volunteering activity: quality- oriented csr, strategic csr, quality control systems, environmental or social needs are addressed, ex.
