Term
| Two Types of Social Responsibility |
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Definition
• Individual Philanthropy
– Don’t die wealthy
– Making charitable donations to benefit humankind
• Collective Philanthropy
– Corporate Social Responsibility (CSR) |
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Term
| The Social Responsibilities Required of You as a Manager |
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Definition
| Social Responsibility and Corporate Social Responsibility |
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Term
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Definition
| – The manager’s duty to take actions that will benefit the interests of society as well as of the organization |
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Term
| Corporate Social Responsibility |
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Definition
| – Notion that corpora;ons are expected to go above and beyond following the lam and making a profit |
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Term
| How Organizations Can Promote Ethics |
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Definition
1. Creating a strong ethical climate
2. Screening prospective employees
3. Instituting ethics codes and training programs |
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Term
| How can being good pay off? |
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Definition
• Effect on customers
• Effect on Employees’ Work Effort
• Effect on Job Applicants & Employee Retention
• Effect on Sales Growth
• Effect on Company Efficiency
• Effect on Company Revenue
• Effect on Stock Price
• Effect on Profits |
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Term
| Trends in Social Responsibility |
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Definition
| Sociocultural, Political/Legal, International, Technological |
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Term
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Definition
| important stakeholders expect organizations to behave in responsible ways |
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Term
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Definition
| laws will change to reflect societal expectations above |
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Term
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Definition
| expectations will vary from country to country (social cultural and political/legal) |
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Term
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Definition
| technology may allow organizations to behave in responsible ways that they could not before |
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Term
| Philanthropic Responsibility |
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Definition
Be a good global corporate citizen
Do what is desired by global stakeholders |
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Term
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Definition
Be ethical
Do what is expected by global stakeholders |
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Term
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Definition
Obey the Law
Do what is required by global stakeholders |
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Term
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Definition
Be profitable
Do what is desired by global capitalism |
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