For example an outside stakeholder may demand that an insider would be subordinated for the well being of the society and vice versa. This starts to get complex by thinking you’re running a company that needs to make a profit to succeed but at the same time must answer to a social responsibility and particular ethics point of view. An example of a company being socially responsible while making a profit is Toyota. They make the top selling Prius which is the hybrid that leads in developing efficient gas-electric vehicles.
There are four types of social responsibilities for which strategic planners must plan, which are: economic, legal, ethical and discretionary. In economic is assumed that the company is providing goods and services at a cost that’s reasonable. In legal responsibilities the company must adhere to the laws that regulate it. In ethical responsibilities the company must have a
References: Casio, W. (2005). Managing Human Resources: Productivity, Quality of Work Life, Profits 7th Edition New York Mac Graw-Hill. University of Phoenix. (2010). InterClean Scenario [Computer Software]. Retrieved from University of Phoenix, Simulation, HRM/531 Mondy, R. (2008). Human Resource Management 10th Edition Prentice Hall.