Mar 3023 Chapter Notes - Chapter 16: Corporate Social Responsibility, Life-Cycle Assessment, Stakeholder Management
Document Summary
Chapter 16: social responsibility and sustainability: corporate social responsibility (csr)- refers to a(cid:374) orga(cid:374)izatio(cid:374)"s o(cid:271)ligatio(cid:374) to (cid:373)a(cid:454)i(cid:373)ize its positive impact and minimize its negative impact on society. Has been shown to benefit companies in many ways, including by improving employee retention as well as the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s (cid:271)ra(cid:374)d i(cid:373)age. The driving consideration across the four dimensions of corporate social responsibility: economic, legal, ethical, and philanthropic. Must follow local, state, and federal laws. Corporate philanthropy- the act of organizations voluntarily donating some of their profits or resources to charitable causes. Begi(cid:374)s (cid:271)(cid:455) (cid:272)o(cid:373)(cid:373)u(cid:374)i(cid:272)ati(cid:374)g ho(cid:449) the (cid:272)o(cid:373)pa(cid:374)(cid:455)"s i(cid:374)dustr(cid:455) a(cid:374)d spe(cid:272)ifi(cid:272) orga(cid:374)izatio(cid:374) work within the larger social and natural world. How does our overall business strategy reflect that impact: benefits of a sustainability vision: Represents a fundamental shift in the way the firm markets its products: strategy 1: eco-efficiency. Marketers seeking to reduce costs and the environmental impact of their activities.
