What is CSR? Why is it important? Why do companies pursue CSR strategies? CSR is corporate social responsibility. “the organization’s status and activities with respect to its perceived societal obligations.” Most of CSR to date has been from a study of American and Western European large companies CSR goes beyond what is legally required. It is ‘conscience driven’. CSR enhances ‘legitimacy’ of firms Idea is entrenched to different degrees in different places in the world 5 dimensions:
workers’ quality of life
commitment to community
business ethics standards
responsible marketing practices
CSR can succeed depending on how management conceptualizes, positions, and explains the initiative. the three legs of sustainability: economics (based on Mogab project), environmental and social issues. In each of these parts you will be evaluating the process through a legal lens to figure out choices and options available as a business leader responsible for global growth generation. Sustainability – social, environmental, economic. Where they intersect is the most sustainable part. People, planet, profit is the 21st century version of this. The three legs of sustainability – triple bottom line – people planet economy. (Vocab can change, so be aware). Utilitarianism is an ethical theory holding that the right course of action is the one that maximises the overall "good" consequences of the action. It is thus a form of consequentialism, meaning that the moral worth of an action is determined by its resulting outcome. The most influential contributors to this theory are considered to be Jeremy Bentham and John Stuart Mill. Utilitarianism was described by Bentham as "the greatest happiness or greatest felicity principle". Utilitarianism can be characterised as a quantitative and reductionist approach to ethics. It is a type of naturalism. It can be contrasted with deontological ethics (which do not regard the consequences of...
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