The Impact of Business and Social Responsibility BBI2O.

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Presentation transcript:

The Impact of Business and Social Responsibility BBI2O

Review…. Good things businesses do? – Meet our needs/wants – Generate wealth – Create jobs – Innovate

Review… Bad things businesses do? – Pollution – Sweatshops/child labour – Fraud – Consumerism

Stakeholders Who is affected by the actions of a business?

Stakeholders Owners/shareholders Employees Customers Buyers and Suppliers The community

Social Responsibility Related to “corporate citizenship” and business ethics Corporate social responsibility (CSR) means taking your duty to all stakeholders, especially the community as a whole, seriously

Social Responsibility Doing good things – Donating goods, services, or money to charities – Sponsoring public service ads Not doing bad things – Being environmentally responsible – Safe working conditions and fair wages – Transparency and accountability

Why CSR? Owner(s) feel strongly about it Good publicity = good for business Tax deductions The right thing to do

The case against CSR Improving the community should be the responsibility of the public sector Diminishes profit to owners/shareholders Makes business less competitive Responses to these arguments?