Summary Chapter 7: Corporate Social Responsibility: The Concept
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Course
BADM 460 (BADM460)
Institution
Capilano University (CapU
)
Book
Canadian Business
Summary of Chapter 7: Corporate Social Responsibility: The Concept
Objectives:
1. Describe corporate social responsibility (CSR).
2. Debate the pros and cons of corporate social responsibility in Canadian business.
3. Appreciate the various foundations of social responsibility theories.
4. Exp...
Chapter 7: corporate social responsibility: the concept
October 10, 2019
5
2019/2020
Summary
Subjects
csr
business
corporate
corporation
ethics
justice
ethical behaviour
responsibility
accountability
honesty
fiduciary duty
management
triple bottom line
business citizens
corporate social responsibility
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Ch 7: Corporate Social Responsibility
- Describe CSR
- Debate the pros & cons of CSR in Canadian business
- Appreciate the various foundations of social responsibility theories
- Explain Carroll’s pyramid of CSR
- Define the 4 contemporary CSR concepts: CS, reputation management, social impact
management, triple bottom line
- Describe corporate & business citizenship
- Explain the complexity of CSR by understanding a unifying CSR framework
Describing CSR
- CSR has had many definitions to date – one is the way a corporation achieves balance
among its economic, social & environmental responsibilities in its operations to address
shareholder & other stakeholder expectations
- Known by many names, including corporate responsibility, corporate accountability,
corporate ethics, corporate citizenship, sustainability, stewardship & the triple-E bottom
line (economical, ethical, environmental)
- Is a general management concern/important to all aspects of business
- Is integrated into a corporation’s operations through its values, culture, decision
making, strategy & reporting mechanisms
- The responsibility of an organization for the impacts of its decisions & activities on
society & the environment, through transparent & ethical behaviour that:
- Contributes to sustainable development, including health & the welfare of society
- Takes into account the expectations of stakeholders
- Is in compliance with applicable law & consistent with international norms of
behaviour
- Is integrated throughout the organization & practiced in its relationships
- 5 key elements:
1. Responsibilities that go beyond production of goods/services at a profit
2. Helping to solve important social problems, especially those they helped create
3. Broader constituency than shareholders alone
4. Impacts that go beyond simple marketplace transactions
5. Wider range of human values than can be captured by sole focus on economic values
- 5 dimensions:
1. Environmental – natural environment
2. Social – relationship between business & society
3. Economic – socio-economic & financial aspects
4. Stakeholder – stakeholders & stakeholder groups
5. Voluntariness – actions not prescribed by law
- 3 roles:
1. Institution in society
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