BUS 223 Chapter 5: BUS 223 - Chapter 5- Corporate Social Responsibility pp. 176-188; 190-197
15 Jan 2019
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Bus 223 - chapter 5: corporate social responsibility pp. Csr ethical expectations society has for business. Three different levels of responsibilities on a scale from less to more obligatory: ethical responsibilities to do good volunteering and charity, responsibility to prevent harm good samaritan cases, responsibility to not cause harm to others. Economic model directs managers to maximize profit and shareholder wealth and recognizes only legal limitations on the pursuit of profit. Variation of this model acknowledges that philanthropy is an ethically good thing that can indirectly contribute to profit by improving reputation and brand recognition. Stakeholder model asserts that neither a business nor the individuals who work for it are exempt from the ordinary ethical responsibilities that everyone has to cause no harm, to prevent harm, and to sometimes do good. Argues that the narrow economic model fails both as an accurate descriptive and as a reasonable normative account of business management.
