Theorists Flashcards
What did Elkington (1994) invent and what was the name of his most popular novel?
Triple Bottom line; people, profit, environment
Cannibals with forks: 39 steps for companies to be more ethical
Whatis being transparent within CSR?
Being clear on their CSR actions
Describe all elements of the triple bottom line
Social: measure of how socially responsible the company is
Environmental: measure of how environmentally friendly the company is
Profit: measure of how profitable the company is
Name some aspects of Elkington’s beliefs
believes we are seeing an emergence of a new set of renewed set of values that are not rigid, hard set values
feels it is imperative that every company takes into consideration the TBL
Facts about Elkington
His approach towards transparency and the stakeholder principle played a crucial role for shaping principles such as GRI
Has become one of the most influential personalities promoting GRI
Name some beliefs of Milton Friedman
Companies should abide by ethics not defined
The social responsibilities of a business are noticeable for their rigour and looseness
there is one and only one social responsibility of business - to use its resources and engage in activities designed to increase its profits as long as it stays in accordance with desires which is generally to make as much profit as possible whilst conforming to the basic rules of society
Corporations are an artifical person therefore they cannot have responsibilities - it is impossible
What approach to friedman take?
Utalitarian - the greatest good for greatest number
