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CORPORATE SOCIAL RESPONSIBILITY Use reading pp. 443-449 and “Organizations and Society” What is corporate social responsibility? Who are stakeholders? Stakeholders include… 1 2 3 4 5 6 7 Perspectives on CSR The Classical View What did Milton Friedman state about CSR? What does this mean? What is the classical view? State 5 arguments to support the classical view. i. ii. iii. iv. v. The Socio-Economic View What did Paul Samuelson state about the socio-economic view? What does this mean?

What is the socio-economic view? State 5 arguments to support the socio-economic view. i. ii. iii. iv. v. Thinking Question In which company would you invest $10 000? Company A that has a profit of $1 000 000 Company B that has a profit of $1 600 000 Company C that has a profit of $800 000 Which is the best investment? Why? Company B because they have the largest profit. Would you change your mind if you knew:  Company A is a cigarette company that pollutes the water supply to the small town in which it operates  Company B uses sweatshop labour in third world countries  Company C treats its employees well and donates to the local United Way Yes, I would change my mind and choose Company C because even though they have a lower profit the company is run in an ethical way. CSR: Evaluating an Organization’s Performance The Social Responsibility Audit Definition

How often is one performed? The following diagram deals with the criteria for evaluating social performance. Explain what this diagram demonstrates. Least to most socially responsible. Social Responsibility Strategies How do organizations behave, what do they do, when faced with an issue? The different strategies that are used. Strategy Description Provide Example Obstructionist Focus mainly on economic priorities and avoids social responsibility. - Anything that is not in their direct interest as unnecessary r a waste of resources - Deny claims when criticized for wrong doing - Fight against what is in the way “Fight social demands” Meet economic responsibilities only. Organization fighting unionization of employees. The company will say if they unionize, they will close. Use courts and laws to profit and avoid losses. Defensive Seeks protection by doing the minimum legally required to satisfy expectations. - They won’t fight and instead argue that they are meeting required expectations and not doing anything wrong “Do the minimum legally required” Meet economic and legal responsibilities. Tim Hortons took away other benefits and lower hours when minimum wages were raised. They were defensive but used a legal way didn’t have to fight. Accommodative Accepts social responsibility and tries to satisfy economic, legal, and ethical criteria. - Living at the edge of what society expects and go beyond “Do the minimum ethically required” Meet economic, legal, and ethical responsibilities. Oil company would be willing to accommodate with clean up activities when a spill occurs but may remain slow in taking actions to prevent spills in the first place. Proactive Meets all the criteria of social responsibility, including discretionary performance. - Take action ahead of time to avoid adverse

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