1. Corporate Social Responsibility
 obligation for a firm to pursue long-term goals that are good for society
(not only economic goals)
 obligation to all stakeholders, not just shareholders
= person, group, organization or system who influences
or is affected by a company's action
narrowly defined:
- shareholders
- employees
- government
- society
- creditors
broader list:
- suppliers
- trade unions
- customers
- schools
……..
A socially responsible firm must also act ethically  business ethics
ethics is about morally correct behaviour
(question: what is right/wrong?)