1 What is Social Responsibility? The Concept of Social Responsibility proposes that a private...
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Transcript of 1 What is Social Responsibility? The Concept of Social Responsibility proposes that a private...
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What is Social Responsibility?
The Concept of Social Responsibility proposes that a private corporation has
responsibilities to society that extend beyond making a profit.
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The Purpose of Social Responsibility
• … is to balance the interests of “all” stakeholders.
1. Employees want better HR benefits which come from Company revenues.
2. Stockholders want a strong bottom line.3. Customers want a good deal, which means
quality at a fair price.4. The community wants to employ its
residents.
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Friedman’s Traditional View of Social Responsibility
“There is one and only one social responsibility of business – to use its
resources and engage in activities designed to increase its profits so long as
it stays within the rules of the game.”