Management and Organizational Studies 2285 Study Guide - Final Guide: Corporate Social Responsibility, Profit Maximization, Disposable And Discretionary Income
29 Jan 2017
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Document Summary
Csr: behaviour in which firms engage that considers the interests of stakeholders outside of the firm. Most frequently engage in csr when it positively impacts their bottom line. Stakeholder means that you will be affected by what the firm does. Csr is what society says it is, the firm doesn"t decide, it just reacts. Firms can use csr to capture almost any audience. Csr refers to acting responsibly to avoid creating problems not to. Firms go beyond doing what is expected, and are proactive. They are responsible for solving social problems they are related to. Managers have to balance society and performance. Moral actors, obliged to exercise discretion that is available to them. Make sure problems are avoided in the first place solve existing ones. Should businesses act in a socially responsible manner: depends on viewpoint, economic positive, economic (friedman) - negative. If csr leads to better performance and increased $, then it should be followed.
