Week 4 - Being Socially Responsible (Ch. 4) Flashcards
1
Q
Shareholder vs. Stakeholder view
A
Share: Purpose of business is to maximize profit
Stake: Purpose of business is to create value for society
2
Q
Corporate social responsibility definition
A
A business’s obligation to pursue policies, make decisions, and take actions that benefit society.
3
Q
CSR relationship with economic performance
A
It usually does pay to be socially responsible
4
Q
Social Responsibility strategies
A
Reactive
Defensive
Accommodative
Proactive
