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Groups Discuss & Take Notes on the Following

Groups Discuss & Take Notes on the Following. What is CSR? Examples of CSR practices. 3 main forms of CSR Why are businesses focusing on CSR? Identify the stakeholders demanding CSR. Explain why businesses are responding to these demands. CSR & Globalization

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Groups Discuss & Take Notes on the Following

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  1. GroupsDiscuss & Take Notes on the Following What is CSR? Examples of CSR practices. 3 main forms of CSR Why are businesses focusing on CSR? Identify the stakeholders demanding CSR. Explain why businesses are responding to these demands. CSR & Globalization CSR in developed (western) vs. developing countries Explain why CSR is spreading to developing countries. Is CSR Good Business? Describe criticism of CSR. Describe what effective CSR practices look like.
  2. When is CSR Good Business? (A) Business should focus on shareholder’s interests Good CSR practices are those that increase the value of the business (increase sales & profits) (B) Businesses should focus on providing the greatest good Good CSR practices are those that benefit the most stakeholders. OR
  3. Stakeholder Interests Identify the interests of each stakeholder in the business – what do they want? Government Employees Management Customers Suppliers/Distributors Shareholders/Owners Local Community Environment
  4. Why Be Good?(or be seen as being good) High Priority for Business Today Consumer’s Expectations – business is part of society, loss of trust Information spreads quickly & easily Concerns over climate change Attract, motivate, & retain employees Business Advantage
  5. Forms of CSR Create Value Marketing (increase revenue), Operations (lower costs) Operate Ethically Risk Management - define guidelines/policies defining “good” behavior Giving Programs (Philanthropy) Donating $, giving back to the community (traditional approach)
  6. CSR Criticism Its the government’s business Government creates rules/laws to advance common good Its a “Side Show” Distracts from primary purpose = satisfying customers Focus on customer satisfaction contributes to society (better products, innovation, profits, taxes, jobs) Playing w/ other people’s money Corporations=> profits belong to shareholders Irresponsible to sacrifice profits? Short-term vs. Long-term perspectives
  7. Warm-up - What is CSR? What is a business’s motivation for being socially responsible? Is being socially responsible good business?
  8. CSR Business Opportunities vs PR?
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