Corporate Social Responsibility
Learning objectives: Create awareness that how business decisions might affect the interests of stakeholder groups.
Case:
Corporate social, ethical and environmental awareness has become essential for businesses. Companies are liable to consider the interests of all stakeholders while performing their activities and making decisions. Business operations should not be exclusively focused to meet the objectives of shareholders and investors; which is the maximization of profit. Corporate must adopt a wider perspective when setting their objectives. The concept of corporate social responsibility explains us to assess the social impact of a business; it covers pollution levels, usage of energy, reprocessing and recycling rates, contributions to community, employee benefit programs and customer satisfaction. Business operations and decisions may have positive and negative impact on customers, employees, suppliers, community and environment.
Some typical business decisions in real world are as follows:
a) A business is planning for large expansion by building a new factory.
b) Application of technology into production and business processes
c) Business uses solar energy to run some operations.
Requirement:
Being the student of business education, you are required to analyze the likely positive and negative effects of these decisions on employees, customers and society at large (community).
Learning objectives: Create awareness that how business decisions might affect the interests of stakeholder groups.
Case:
Corporate social, ethical and environmental awareness has become essential for businesses. Companies are liable to consider the interests of all stakeholders while performing their activities and making decisions. Business operations should not be exclusively focused to meet the objectives of shareholders and investors; which is the maximization of profit. Corporate must adopt a wider perspective when setting their objectives. The concept of corporate social responsibility explains us to assess the social impact of a business; it covers pollution levels, usage of energy, reprocessing and recycling rates, contributions to community, employee benefit programs and customer satisfaction. Business operations and decisions may have positive and negative impact on customers, employees, suppliers, community and environment.
Some typical business decisions in real world are as follows:
a) A business is planning for large expansion by building a new factory.
b) Application of technology into production and business processes
c) Business uses solar energy to run some operations.
Requirement:
Being the student of business education, you are required to analyze the likely positive and negative effects of these decisions on employees, customers and society at large (community).
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