About This Chapter
Social Responsibility of Businesses - Chapter Summary
Allow this chapter to help you jog your memory about what you have learned concerning the social responsibility of businesses. Each lesson has been created to give you a deeper understanding of such concepts as business ethics, stakeholder benefits, remaining competitive in the market, and the results of improved social responsibility. At the end of this chapter, you will be better prepared to do the following:
- Describe the social responsibility of corporations
- Identify how effective environmental management can be beneficial
- Define how social responsibility works in organizations
- Compare the individual levels of corporate social responsibility
Most of the lessons in this chapter are in video format, which some users prefer, as videos create an interactive audio and visual learning environment. Beneath each video is a full lesson transcript. Reading through the transcripts after watching the videos can help you commit key details to memory. The vocabulary words and other important concepts are often set off in bolded or italicized lettering, making it easier for readers to spot key details. In many ways, the transcripts function as your personal set of study notes, which is an excellent tool to have right before an exam.
1. Business Ethics: Corporate Social Responsibility
Now that companies are concerned with society's welfare, corporate social responsibility is a controversial topic. In this lesson, learn the two theories of social responsibility and the arguments for and against the practice.
2. Benefits of Effective Environmental Management in Businesses
Businesses have to determine the best ways to manage environmental issues. In this lesson, we will discuss the benefits of environmental management and how effective environmental management makes firms more competitive.
3. Social Responsibility in Organizations
Watch this video lesson to learn how companies put into practice their social responsibilities. Learn how a socially responsible company helps the environment, people, and employees along with giving freely to society.
4. The Levels of Corporate Social Responsibility
Most companies do not start as socially-responsible companies. In fact, the path to embracing corporate social responsibility consists of four different levels that companies progress through that will benefit their stakeholders.
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Other chapters within the ISC Commerce: Study Guide & Syllabus course
- Introduction to Indian Commercial Organization
- Forms of Indian Business Organizations
- Emerging Modes of Business
- Stock Exchange in India
- Types of Trade
- Understanding Foreign Trade
- Insurance & Risk Management Basics
- Business Environment Overview
- Types of Financing
- Management Theories & Functions
- Marketing in India
- ISC Commerce Flashcards