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Chapter 17 Learning Objectives

Chapter 17 Learning Objectives. After studying this chapter, you should be able to: Articulate a stakeholder view of the firm Apply the institution based view to analyze corporate social responsibility Use the resource based view to better understand corporate social responsibility

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Chapter 17 Learning Objectives

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  1. Chapter 17 Learning Objectives After studying this chapter, you should be able to: • Articulate a stakeholder view of the firm • Apply the institution based view to analyze corporate social responsibility • Use the resource based view to better understand corporate social responsibility • Participate in three leading debates concerning corporate social responsibility • Draw implications for action

  2. STAKEHOLDER VIEW OF THE FIRM stakeholder- group or individual who can affect or is affected by the achievement of the organization’s objectives corporate social responsibility (CSR) - consideration of, and response to, issues beyond the narrow economic, technical, and legal requirements of the firm to accomplish social benefits along with the traditional economic gains which the firm seeks

  3. BIG PICTURE PERSPECTIVE global sustainability- ability “to meet the needs of the present without compromising the ability of future generations to meet their needs” primary stakeholder groups - constituents on which the firm relies for its continuous survival and prosperity secondary stakeholder groups - those who influence or affect, or are influenced or affected by, the firm, but are not engaged in transactions with the firm and are not essential for its survival triple bottom line - economic, social, and environmental performance that simultaneously satisfies demands of all stakeholders

  4. INSTITUTIONS AND CORPORATESOCIAL RESPONSIBILITY reactive strategy- response to relatively little or no support of top management to CSR causes defensive strategy- focus on regulatory compliance with little involvement by top management accommodative strategy - characterized by some support from top managers, who may increasingly view CSR as a worthwhile endeavor proactive strategy- being responsible and endeavoring to do more than is required

  5. DOMESTIC vs. OVERSEAS SOCIAL RESPONSIBILITY Given that corporate resources are limited, resources devoted to overseas CSR, unfortunately, often mean fewer resources devoted to domestic CSR. When companies have enough resources, it would be nice to take care of domestic employees and communities. However, when confronted with relentless pressures for cost cutting and restructuring, managers have to prioritize. Paradoxically, in this age of globalization, while the CSR movement is on the rise, the great migration of jobs away from developed economies is also accelerating.

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