ADM 1301 Chapter Notes - Chapter 9: Socially Responsible Investing, Program Management, Corporate Identity
1 Feb 2017
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Document Summary
Social auditing - a systematic assessment that identifies, measures, evaluates, reports, and monitors the effects an enterprise has on society. Its to provide information to management and to various stakeholders about the impact of the enterprise on society. Csr reporting- a management function that documents the corporation"s economic, ethical/social, and environmental responsibilities and initiatives, and communicates this information to relevant stakeholders. Csr creates a layer of protection: corporations known for social responsibility experienced less decline in stock prices when a crisis occurred. Social and environmental benefits fall into one of three categories: firm processes - the value created can be identified by readily available measures. The costs and savings of an energy conservation program can be measured, most likely with savings exceeding costs: firm outcomes - the value created is less obvious and as a result may not be measured-but it should be.
