Lecture

Corporate Social Responsibility: Theory & Practice

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In course

MGT-400: Corporate strategy

Why are some firms more successful than others? This is the fundamental question of strategy. The course aims to familiarize the student with the most important themes relevant for corporate strategy. We will take the a top management perspective to better ...

Description

This lecture covers the theory and practice of Corporate Social Responsibility (CSR) and Stakeholder Management, discussing the impact of enterprises on society, the transition from CSR to Corporate Sustainability, and the importance of stakeholders in creating long-term value. It also explores the Triple Bottom Line concept, the stages of CSR maturity, and the challenges and benefits of engaging with stakeholders. Real-world examples and case studies are used to illustrate the importance of balancing corporate and social interests.

Official source

Ontological neighbourhood

Philosophy

Ethics: Topics in ethics

Related concepts (29)

Corporate social responsibility

Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development, administering monetary grants to non-profit organizations for the public benefit, or to conduct ethically oriented business and investment practices.

Corporate social entrepreneurship

A Corporate Social Entrepreneur (CSE) is someone who attempts to advance a social agenda in addition to a formal job role as part of a corporation. It is possible for CSEs to work in organizational contexts that are favourable to corporate social responsibility but this is not always the case. CSEs focus on developing both social capital and economic capital, and their formal job role may not always align with corporate social responsibility. Furthermore, a person in a non-executive or managerial position can still be considered a CSE.

Business ethics

Business ethics (also known as corporate ethics) is a form of applied ethics or professional ethics, that examines ethical principles and moral or ethical problems that can arise in a business environment. It applies to all aspects of business conduct and is relevant to the conduct of individuals and entire organizations. These ethics originate from individuals, organizational statements or the legal system. These norms, values, ethical, and unethical practices are the principles that guide a business.

Social responsibility

Social responsibility is an ethical framework in which an individual is obligated to work and cooperate with other individuals and organizations for the benefit of the community that will inherit the world that individual leaves behind. Social responsibility is a duty every individual has to maintain; a balance between the economy and the ecosystem one lives within. A trade-off might perhaps exist between economic development, in the material sense, and the welfare of the society and environment.

Stakeholder theory

The stakeholder theory is a theory of organizational management and business ethics that accounts for multiple constituencies impacted by business entities like employees, suppliers, local communities, creditors, and others. It addresses morals and values in managing an organization, such as those related to corporate social responsibility, market economy, and social contract theory. The stakeholder view of strategy integrates a resource-based view and a market-based view, and adds a socio-political level.

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