Reference no: EM13297649

Substantiate your discussion by providing an example from your own work/college experience or from current news. Be sure to ground your discussion in the context of the chapter. Explain in detail as if your classmates were depending on you to cover the information. Choose one point or you can combine more than one points together.

Chapter context:

Point 1

Corporate social responsibility and governance:

Looks at ethical issues on the organization level.

Obligates organizations to act in ways that serve both its own interests and the interests of society at large.

Point 2

Stakeholder Management

Stakeholders

persons, groups, and other organizations directly affected by the behavior of the organization and holding a stake in its performance.

Point 3

Perspectives on social responsibility:

Classical view

Management’s only responsibility is to maximize profits.

Socioeconomic view

Management must be concerned for the broader social welfare, not just profits.

Arguments against social responsibility:

Reduced business profits

Higher business costs

Dilution of business purpose

Too much social power for business

Lack of public accountability

Arguments in favor of social responsibility:

Adds long-run profits

Improved public image

Avoids more government regulation

Businesses have resources and ethical obligation.