BUSI 4601 Chapter Notes - Chapter 9: Grater, Virtuous Circle And Vicious Circle
3 May 2018
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Chapter 9: CSR
1. Definition
a. Responsibility beyond economic and legal obligation to act
unethical and contribute in positive way to society
2. Reason
a. Pragmatic reason
i. Use power responsibly or you risk losing it
ii. Costly to ignore stakeholder concern
iii. Avoid economic harm
iv. Maintain legitimacy
v. Ensure corporate reputation
vi. Risky
b. Ethical
i. Have responsibility to behave ethical + contribute grater
food
ii. Simply the right thing to do
iii. Prioritize ethical value and apply moral rule
iv. Contribute to social welfare
v. Treat employee fairly
vi. Respect human right
c. Strategic
i. CSR create shared value and differentiate from competitors
ii. When society prosper, business too
iii. Healthy society produce productive workforce
iv. Analyze business for
▪ Place where firm is doing harm
▪ Place where firm can do good by adding unique
opportunity to shared value
3. Type
a. Economic
i. Primary function of producing good + make acceptable
profit
ii. Provide job
b. Legal: carry work in compliance to law and government obligation
c. Ethical: avoid harm + do right thing
d. Philanthropic
i. Increase human welfare through money and time donation
ii. Complete voluntary
iii. Cons: if perceive that company attempt to polish image,
cynicism
iv. Pro: create serve of unity + employee commitment
v. Higher reputation
vi. Strategic purporse
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