Business and Society: Corporate Strategy, Public Policy, Ethics, 10/e
Corporate Social Responsibility
Corporate social responsibility challenges businesses to be accountable for the consequences of their actions affecting the firm's stakeholders while they pursue traditional economic goals. The general public expects businesses to be socially responsible, and many companies have responded by making social goals a part of their overall business operations. Guidelines for acting in socially responsible ways are not always clear, thus producing controversy about what constitutes such behavior, how extensive it should be, and what it costs to be socially responsible.
This chapter focuses on these key questions and objectives:
1What is the basic meaning of corporate social responsibility?
2Where and when did the idea of social responsibility originate?
3What are the critical arguments for and against corporate social responsibility?
4How does business meet its economic and legal obligations while being socially responsible?
5How is corporate social responsibility practiced by businesses around the world?