There is often confusion as to what Corporate Social Responsibility really means. As learned in class, CSR is achieving economic growth with social and environmental limits. Businesses focus more on producing products in an environmentally friendly way as opposed to a couple of decades ago because environment instability has become more of a problem over the years. Hence, it is important to educate students in business schools about sustainability since they will be the next managers and CEOs.
It is often hard to implement CSR because companies that produce products ethically and treats customers, and employees well, has to think how they are returning to the community as opposed to being satisfied by not taking anything away.
I feel that companies that adopt strategic CSR plans will be more likely to embrace ethical business decision-making because they value the environment and society highly. Such companies such as Lululemon with their breast cancer campaign are more likely to implement Edward Freeman’s stakeholder theory since it values the well-being of all employees, customers, investors, financiers, and community.
Works Cited
What Is Stakeholder Theory? – R. Edward Freeman – YouTube. Perf. R. Edward Freeman. Youtube. Web. 24 Nov. 2011. <https://www.youtube.com/watch?v=bIRUaLcvPe8>.
Powerpoint: class 3, Introduction to business ethics, sept. 15
Powerpoint: class 14, Sustainability and CSR, oct. 26