session 26

the people and groups that supply a company with its productive resources and so have a claim and stake in the company.

• 1. stockholders
• 2. managers
• 3. customers
• 4. community and society
• 5. suppliers and distributors
• 6. employees.

the customers

The way a company's managers and employees view their duty or obligation to make decisions that protect, enhance, and promote the welfare and well-being of stakeholders and society as a whole.

• Obstructionist- companies choose not to behave in a socially responsible way and behave unethically and illegally.
• Defensive- companies and managers stay within the law and abide strictly with legal requirements but make no attempt to exercise social responsibility.
• Accommodative- Companies behave legally and ethically and try to balance the interests of different stakeholders against one another so that the claims of stockholders are seen in
• relation to the claims of other stakeholders
• Proactive-  Companies actively embrace socially responsible behavior, going out of their way to learn about the needs of different stakeholder groups and utilizing organizational
• resources to promote the interests of all stakeholders

• 1. actions to ensure the company operates honorably and ethically
• 2. actions to support philanthropy, participate in community service, and better the quality of life worldwide.
• 3. actions to protect and sustain the environment
• 4. actions to enhance employee well-being and make the company a great place to work.
• 5. actions to promote workforce diversity

power, people, planet

is the relationship of a firm to its environment and its use of natural resources.

are those practices of a firm that meet the needs of the present without compromising the ability to meet the needs of the future