Definition

The Dynamics of social Responsibility

The various stakeholders of a firm can be divided into inside stakeholders and outside stakeholders. The insiders are the individuals or group that the firm’s actions affect. The extremely large and often amorphous set of outsiders makes the general claim that the firm be socially responsible.

Company mission

 

Inside stakeholders

Executive officers Board of directors Stockholders Employe

 

Outside stakeholders

Customers Suppliers Creditors Governments Unions Competitors General public

 

                       

 

 

 

 

 

 

Perhaps the thorniest issues faced in defining a company mission are those that pertain to social responsibilitiy.Corporate  social responsibility is the idea that a bussiness has a duty to serve society in general as well as the financial interests of its stockholders. The stakeholder approach offers the clearest perspective on such issues.

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