bussinesss and socity
http://cookiemarie.blogspot.ae/2011/03/chapter-5.html http://www.studymode.com/subjects/the-jack-welch-era-at-general-electric-page2.html 1. Corporate social responsibility is defined in Chapter 5 as the corporate duty to create wealth by using means that avoid harm to, protect, or enhance societal assets. Did GE in the Welch era fulfill this duty? Could it have done better? What should it have done?
a. In Welch’s era, GE fulfilled its responsibilities to society. So therefore, they did meet the needs of the social responsibility by paying taxes and such.
2. Does GE under Welch illustrate a narrower view of corporate social responsibility closer to Friedman’s view that the only social responsibility is to increase profits while obeying the law?
a. Well, both of them were the kinds to make money and make it well. I think his view was not closer to Friedman’s view.
3. How well did GE comply with the “General Principles of Corporate Social Responsibility” set forth in the section of that title in the chapter?
a. I think that under Welch’s management, GE complied pretty well with the General Principles of Corporate Social Responsibility. Welch explained that, “if there was one thing I preached every day at GE, it was integrity.” With that said, I think he performed ethically.
4. What are the pros and cons of ranking shareholders over employees and other stakeholders? Is it wrong to see employees as costs of production? Should GE have rebalanced its priorities?
a. I think the pros of ranking them higher than employees and other stakeholders is that they invested more into a company, shareholders have part ownership in a company so of course they would harder to be successful. To employees all they have is the work they get out of working at the company so to them it is not as important. As well with stakeholders, all that it is is that they gain benefits and such from the company. Some cons might be that they have more control and power. I don’t
a. In Welch’s era, GE fulfilled its responsibilities to society. So therefore, they did meet the needs of the social responsibility by paying taxes and such.
2. Does GE under Welch illustrate a narrower view of corporate social responsibility closer to Friedman’s view that the only social responsibility is to increase profits while obeying the law?
a. Well, both of them were the kinds to make money and make it well. I think his view was not closer to Friedman’s view.
3. How well did GE comply with the “General Principles of Corporate Social Responsibility” set forth in the section of that title in the chapter?
a. I think that under Welch’s management, GE complied pretty well with the General Principles of Corporate Social Responsibility. Welch explained that, “if there was one thing I preached every day at GE, it was integrity.” With that said, I think he performed ethically.
4. What are the pros and cons of ranking shareholders over employees and other stakeholders? Is it wrong to see employees as costs of production? Should GE have rebalanced its priorities?
a. I think the pros of ranking them higher than employees and other stakeholders is that they invested more into a company, shareholders have part ownership in a company so of course they would harder to be successful. To employees all they have is the work they get out of working at the company so to them it is not as important. As well with stakeholders, all that it is is that they gain benefits and such from the company. Some cons might be that they have more control and power. I don’t