CHAPTER 2:What are organizational values?Social Responsibility – Refers to the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environment.RecyclingMajor Corporate Stakeholders – Employees, Investors, Suppliers, Customers, and Local Communities.THE STAKEHOLDER MODEL OF RESPONSIBILITYCustomers – Treat customers fairlyStakeholders focus on these groups first and foremostCUSTOMERSEMPLOYEESINVESTORSSuppliers CustomersLocal CommunitiesResponsibility toward the environmentAir PollutionWater PollutionLand PollutionToxic WasteRecyclingResponsibility toward customersConsumer RightsCONSUMERISM – Social activism dedicated to protecting the rights of consumers in their dealings with businessesUnfair PricingCollusion – two or more firms collaborate on such wrongful acts as price fixingPrice GougingRAISING THE PRICE OF GAS WHEN HURRICANES COME, HOME DEPOT RAISED THE PRICE OF LUMBER.President Kennedy came up with the Consumer Bill of RightsConsumer Bill of Rights:Consumers have a right to a safe productConsumers have a right to be informed about all relevant aspects of a productConsumers have a right to be heardConsumers have a right to choose what they buyConsumers have a right to be educated about purchasesConsumers have a right to courteous servicesResponsibility toward InvestorsInsider Trading – using confidential information to gain from the purchase or sale of stocks***** IMPORTANT *****Obstructionist Stance – Involves doing as little as possible and may involve attempts to deny or cover up violationsChryslers stance toward Jeep recall – video from class.Defensive Stance – Company meets only minimum legal requirements in it commitments to groups and individuals in its social environment.Just the minimum legal requirement“Please Drink Responsibly” on a beer adAccommodative Stance – A company, if specifically asked to do so, exceeds legal minimums in its commitments to groupsProactive Stance – A company actively seeks opportunities to contribute to the well being of groups and individuals in its social environment.Ronald Mcdonald House; Reaching out to contribute to society.Budweiser delivers Water not Beer.MGMT105: Lecture 4, 1.29.14CHAPTER 2: -What are organizational values?-Social Responsibility – Refers to the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environment.oRecycling -Major Corporate Stakeholders – Employees, Investors, Suppliers, Customers, and Local Communities.oTHE STAKEHOLDER MODEL OF RESPONSIBILITYCustomers – Treat customers fairlyStakeholders focus on these groups first and foremost-CUSTOMERS-EMPLOYEES-INVESTORS-Suppliers Customers-Local Communities-Responsibility toward the environmentoAir PollutionoWater PollutionoLand PollutionToxic WasteRecycling-Responsibility toward customersoConsumer Rights CONSUMERISM – Social activism dedicated to protectingthe rights of consumers in their dealings with businessesoUnfair PricingCollusion – two or more firms collaborate on such wrongful acts as price fixingPrice GougingRAISING THE PRICE OF GAS WHEN HURRICANES COME, HOME DEPOT RAISED THE PRICE OF LUMBER.-President Kennedy came up with the Consumer Bill of RightsoConsumer Bill of Rights:Consumers have a right to a safe productConsumers have a right to be informed about all relevant aspects of a productConsumers have a right to be heardConsumers have a right to choose what they buyConsumers have a right to be educated about purchasesConsumers have a right to courteous services-Responsibility toward InvestorsoInsider Trading – using confidential information to gain from the purchase or sale of stocks-***** IMPORTANT *****oObstructionist Stance – Involves doing as little as possible andmay involve attempts to deny or cover up violationsChryslers stance toward Jeep recall – video from class.oDefensive Stance – Company meets only minimum legal requirements in it commitments to groups and individuals in its social environment.Just the minimum legal requirement“Please Drink Responsibly” on a beer adoAccommodative Stance – A company, if specifically asked to do so, exceeds legal minimums in its commitments to groupsoProactive Stance – A company actively seeks opportunities to contribute to the well being of groups and individuals in its social environment.Ronald Mcdonald House; Reaching out to contribute to society.Budweiser delivers Water not
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