33:620:301 Study Guide - Final Guide: Triple Bottom Line, Corporate Social Responsibility

• School: Rutgers University
• Department: Management and Global Business
• Course: 33:620:301
• Professor: dennishamilton

Document Summary

Stakeholders people and groups that supply a company with its productive resources and so have a claim on and stake in the company. want to ensure managers behave ethically and maximize their return on investment. Creating a structure that fairly and equitably rewards employees for contributions. Suppliers expect to be paid fairly and promptly for their inputs. Distributors expect to receive quality products at agreed upon prices. Company must create loyal customers and attract new ones. Corporate social responsibility way a company"s managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole. Obstructionist approach companies choose not to behave in a socially responsible way and behave unethically and illegally. Defensive approach companies and managers stay within the law and abide strictly with legal requirements but make no attempt to exercise social responsibility.