Chapter 11.  A way companies manage the business processes to produce an overall positive impact on the society  A commitment to improve community well.

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Presentation transcript:

Chapter 11

 A way companies manage the business processes to produce an overall positive impact on the society  A commitment to improve community well being through discretionary business practices and contributions of corporate businesses

Ethical Responsibilities Philanthropic Responsibilities Legal ResponsibilitiesEconomic Responsibilities

 Iron law of responsibility  Contented employees  Contented customers  Reduction in cost  Well organized use of resources and power  Long term future for the business  Positive public image  Avoiding Government Interference

 Mission, Vision and Values statements  Planned action adhering to actual performance  Management Structures  Long term strategic planning  Overall accountability  Employee Recognition and Rewards  Education and Training  CSR Reporting

 Also called Sustainable business and green business  A concept where the organization has least negative effect on the global or local environment, community, society or economy  The business that makes all efforts to meet the Triple Bottom Line (TBL)

 Business success is not only defined by monetary gain but also by the impact an organization’s activities have on society as a whole.  Strong profitability, Vibrant Communities, Healthy environment  Sustainability includes ◦ Social advancement ◦ Safeguarding natural environment ◦ Cautious use of natural resources ◦ Balanced and increasing levels of economic growth and employment