1. Corporate social responsibility the idea that businesses interact : 1800945
1. Corporate social responsibility is the idea that businesses interact with the organization’s stakeholders for social good while they pursue economic goals.
2. The capability of corporations to influence government, the economy, and society, based on their organizational resources is called the big business principle.
3. Huge businesses can disproportionately influence politics, shape tastes, and dominate public discourse.
4. Corporate power says that in the long run, those who do not use power in ways that society considers responsible will tend to lose it.
5. Given the immeasurable power in the hands of the leaders of large, global corporations, social responsibility has become a worldwide expectation.
6. The concept of corporate social responsibility is rooted in the meaning “to pledge back,” creating a commitment to give back to society and the organization’s stakeholders.
7. Being socially responsible means that a company must abandon its other missions.
8. In the United States, the idea of corporate social responsibility appeared around the start of the 20th century.
9. Enlightened self-interest is the idea that the wealthiest members of society should be charitable toward those less fortunate.
10. As a response to the conflict between long- and short-term profit making, an enlightened self-interest point of view would be the least useful and practical approach.
11. Laws and regulations help create a level playing field for businesses that compete against one another.
12. Businesses that comply with laws and public policies are meeting a minimum level of social responsibility expected by the public.
13. One of the most appealing arguments in favor of corporate social responsibility for business supporters is that voluntary social acts may head off increased government regulation.
14. Reports have shown that 70 percent of consumers said they would buy a product even if they did not like the company’s reputation behind the product.
15. An argument against corporate social responsibility is that it imposes unequal costs among competitors.