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Social responsibility is an ethical concept in which a person works and cooperates with other people and organizations for the benefit of the community. [1] An organization can demonstrate social responsibility in several ways, for instance, by donating, encouraging volunteerism, using ethical hiring procedures, and making changes that benefit ...
Corporate social responsibility (CSR) or corporate social impact is a form of international private business self-regulation [1] which aims to contribute to societal goals of a philanthropic, activist, or charitable nature by engaging in, with, or supporting professional service volunteering through pro bono programs, community development ...
Friedman doctrine. The Friedman doctrine, also called shareholder theory, is a normative theory of business ethics advanced by economist Milton Friedman which holds that the social responsibility of business is to increase its profits. [1] This shareholder primacy approach views shareholders as the economic engine of the organization and the ...
t. e. In moral and political philosophy, the social contract is an idea, theory or model that usually, although not always, concerns the legitimacy of the authority of the state over the individual. [ 1 ] Conceptualized in the Age of Enlightenment, it is a core concept of constitutionalism, while not necessarily convened and written down in a ...
Social exchange theory is a sociological and psychological theory that studies the social behavior in the interaction of two parties that implement a cost-benefit analysis to determine risks and benefits. The theory also involves economic relationships—the cost-benefit analysis occurs when each party has goods that the other parties value. [ 1 ]
The triple bottom line consists of social equity, economic, and environmental factors. The phrase, "people, planet, and profit" to describe the triple bottom line and the goal of sustainability, was coined by John Elkington in 1994 while at SustainAbility, [3][9] and was later used as the title of the Anglo-Dutch oil company Shell's first ...
Social impact theory was created by Bibb Latané in 1981 and consists of four basic rules which consider how individuals can be "sources or targets of social influence". [1] Social impact is the result of social forces including the strength of the source of impact, the immediacy of the event, and the number of sources exerting the impact. [2 ...
Creating shared value (CSV) is a business concept first introduced in a 2006 Harvard Business Review article, Strategy & Society: The Link between Competitive Advantage and Corporate Social Responsibility. [1] The concept was further expanded in the January 2011 follow-up piece entitled Creating Shared Value: Redefining Capitalism and the Role ...