ch 6

Question 1

social responsibility

Answer 1

going beyond what is obligated doing things to improve soceity

Question 2

what are the two views on social responsibility

Answer 2

classical: maximize profits for shareholders
socio-economic: management should also protect and improve society welfare - corps are responsible to more than stock holders - moral responsibility to “do the right thing”

Question 3

how can firms encourage and develop ethical behaviour

Answer 3

• hire individuals with high ethical standards
  -establish codes of ethics and decision rules
  -lead by example
  -delinate job goals and performance appraisal mechanisms
  -provide ethics training
  -conduct independent social audits
  -provide support for indivs facing ethical dilemmas

Question 4

what are the approaches to adopting a sustainable management strat

Answer 4

legal, market approach, stakeholder approach, activist approach

Question 5

legal approach

Answer 5

orgs obey laws, rules and regs willingly
- no single use plastic

Question 6

market approach

Answer 6

org is more sensitive to enviro issues, responding to enviro preferences from cx

Question 7

stakeholder approach

Answer 7

orgs work to meet enviro demands or multiple stakeholders

Question 8

activist appraoch

Answer 8

highest degree of enviro sensitivity