ENG 105 Study Guide - Final Guide: Corporate Social Responsibility, Tax Accounting In The United States, Marketing Mix

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Seriously considering the impact of a company"s actions on society. Requires the individual to consider his/her actions in terms of a whole social system. Corporate citizenship- views corporations as citizens and all this implies. Corporate responsibility- broadly focuses on all categories of social responsibility. Socioeconomic model- working to make a profit but to also satisfy society. People work harder if they earn more money/more profit. No need for corporations to be socially responsible . Csr is a commitment to improve community well-being through discretionary business practices and contributions of corporate resources. Activities/initiatives include: health, safety, education, employment, environment, community and economic development. Now used as a strategy in business. Benefits to companies: increased sales and market shares, strengthened brand positioning, enhanced corporate image, increased ability to attract, motivate, and retain employees, decreased operating costs, increased appeal to investors. Cause promotion- increased awareness and concern about a social cause.