4th Quarter

• Banker - lend money to the poor producers and not only to the rich ones
• Manufacturers - creates quality products and not to pollute the environment.
• Rich - share their excess wealth with the less fortunate
• Social Responsibility of Entrepreneurs/Howard Bomen - pursue their policies to make these decisions, following their actions which are desirable
• Theory of Karl Marx/German Philosopher - Importance of labor, workers are real producers of goods.
• Rubert Howen - Completely restricted on the basis of common ownership, contrasted the social system, linked the worsening conditions
• Influence of Labor Unions - freedom, government protection, and promotion of the welfare of the consumers and workers were minimal
• Economic Model - Earn a reasonable profit, offers quality goods and services, provides employment
• Socio Economic Model - Responsibility to their stockholders
• Classical Model - Stressed to use as efficiently as possible
• Social Responsibility to consumers

  • The right to safety
  • The right to be informed
  • The right to choose
  • The right to be heard
• Other Social Responsibilities

  • Employment
  • Education and Training
  • Community Development
• Corporate Social Responsibility (CSR) - a business practice that involves participating in initiatives that benefit a society
• Model/Social Responsibility - calculations/predictions
• Intersecting Circles Model

  
• Economic Model/Milton Friedman's - Increase its profits or it is profit based
• Philanthropic model - Involve actively bettering society, benefitting
• Carrols CSR Pyramid/4 Responsibilities of Business

  
• Ethical/Social Web Model - Citizen of the society, normal ethical duties and obligations
• Bowie - economic views duty to obey the law business has an equity important ethical duty to respect human rights

  • as long as managers comply with the moral minimum
• Stakeholder Theory - affects a wide variety of people benefiting and some imposing costs on others
• Freeman - stakeholder theory does not give primacy to one stakeholder group
• Integrative Model - Fully integrate economic and social goals
• Environmental CSR Model - cutting down its greenhouse gas emissions and waste.
• Responsible and Responsibility

  • Reliable and trustworthy
  • A cause for an event or action
  • Involves attributing liability or accountability
• 3 Diff Types of Responsibilities

  • Responsibility not to cause harm to others
  • Prevent Harm even in those cases where one is not the cause
  • Responsibilities to do well such as volunteering and charitable work