MGMT 4000 Chapter Notes - Chapter 3: Greenpeace, Golden Rule, Cultural Relativism
27 Nov 2017
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Chapter 3: social responsibility & ethics in strategic management. Social responsibility: proposes that a private corporation has responsibilities to society that extend beyond making a profit. Sustainability issue: includes all ecological, natural environment, economic & social concerns: agrees with carroll"s list in order to be successful over a long time; satisfy economic, legal, ethical & discretionary responsibilities, involves issues, concerns & trade-offs. Stakeholder analysis: identification & evaluation of corporate stakeholders. Step 1: identify primary stakeholders: those who have a direct connection with the corporation and who have sufficient bargaining power to directly affect corporate activities. Includes: customers, employees, suppliers, shareholders, creditors, determining customers is difficult; especially for companies who sell items for other companies (like walmart, target) or selling items where they have limited influence (like coca-cola. Stakeholder input: after impacts have been identified managers decide whether stakeholder input should be invited, groups are more likely to accept/help implement a decision if they have input into how its chosen/implemented.
