CSR:-)

Social Responsibility...

n an organization’s obligation to maximize its positive impact on stakeholders and to minimize its negative impact

n includes legal, ethical, economic, and philanthropic (discretionary) dimensions

Legal Dimension...

n  refers to obeying governmental laws and regulations

n  civil law: rights & duties of individuals and organizations

n  criminal law: prohibits specific actions and imposes fines and/or imprisonment as punishment for breaking the law

Ethical Dimension...

n  behaviors and activities that are expected or prohibited by organizational members, the community, and society (not codified into law)

n  standards, norms, or expectations that reflect the concern of major stakeholders

Economic Responsibilities...

n  how resources for the production of goods and services are distributed within the social system

n  Do you think consumers favor socially responsible companies or are they most enamored with companies that maximize profits?