Corporate Social Responsibility and Profitability CSR and the Bottom Line
The goal of every firm is to maintain viability through long-run profitability. Until all costs and benefits are accounted for, however, profits may not be claimed. In the case of corporate social responsibility (CSR), costs and benefits are both economic and social. While economic costs and benefits are easily quantifiable, social costs and benefits are not.Managers therefore risk subordinating social consequences to other performance results that can be more straightforwardly measured.
Corporate Social Responsibility and Profitability: The idea that business has a duty to serve society in general as well as the financial interest of stockholders.
Category: Management & Organization Studies
Previous: ← Discretionary responsibilities
More from this Section
- RFID
RFID is an automatic identification method in which information can be stored and remotely ... - Grand strategy selection matrix
One valuable guide to the selection of a promising grand strategy is the grand strategy ... - Portfolio techniques
An approach pioneered by the Buston Consulting Group that attempted to help managers ”balance” ... - Organizational process
Organizational process- that is the ways that organizational work is done. When managers ... - Value chain management
Value chain management is the process of managing the sequence of activities and information ...