Which refers to the adoption by a business of a strategic focus for fulfilling economic legal ethical and philanthropic responsibilities?

An organization's obligation to maximize its positive impact and minimize its negative impact on society

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Which refers to the adoption by a business of a strategic focus for fulfilling economic?
What component of social responsibility is in charge in making money or profit?
What is philanthropic responsibility?
Which framework helps firms identify their economic legal ethical and philanthropic obligations to society?

The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders

Principles and standards that define acceptable marketing conduct as determined by various stakeholders

The practice of linking products to a particular social cause on an ongoing or short term basis; ex: Proctor and Gamble sponsors the special olympics

The synergistic use of organizational core competencies and resources to address key stakeholder's interests and achieve both organizational and social benefits; ex: home depot sponsors habitat for humanity

The potential for the long term well being of the natural environment, including all biological entities, as well as the interaction among nature and individuals, organizations, and business strategies

An identifiable problem, situation, or opportunity requiring a choice among several actions that must be evaluated as right or wrong, ethical or unethical

Organizational (corporate) Culture

A set of values, beliefs, goals, norms, and rituals that member of an organization share

Formalized rules and standards that describe what the company expects of its employees

Pyramid of Social Responsibility

Philanthropic
Ethical
Legal
Economic

The specific development, pricing, promotion, and distribution of products that do not harm the natural environment

Corporate Goals for the Natural Environment

1. Eliminate concept of waste
2. Reinvent concept of a product
3. Make prices reflect the cost
4. Make environmentalism profitable

Factors of Ethical Decision Making

1. Individual Factors- your beliefs and experiences
2. Organizational Relationships- how company handles unethical behavior, how other employees behave
3. Opportunity- chances to act unethically

Ways to improve ethical conduct in marketing

1. codes of conduct
2. ethics officers
3. implementing ethical and legal compliance programs
4. hire the right people

Implementing ethical & legal compliance programs

1. open communication & coaching
2. ethics training
3. clear channels of communication
4. follow up support
5. enforce standards and impose penalties
6. part of overall marketing strategy

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Which refers to the adoption by a business of a strategic focus for fulfilling economic?

marketing citizenship The adoption of a strategic focus for fulfilling the economic, legal, ethical, and philanthropic social responsibilities expected by stakeholders.

Economic Responsibility Economic responsibility is the practice of a firm backing all of its financial decisions in its commitment to do good in the areas listed above. The end goal is not to simply maximize profits, but positively impact the environment, people, and society.

What is philanthropic responsibility?

Philanthropic Responsibility involves the act of promoting and enhancing human welfare and goodwill.

Which framework helps firms identify their economic legal ethical and philanthropic obligations to society?

In summary, the four part CSR definition forms a conceptual framework that includes the economic, legal, ethical, and philanthropic or discretionary expectations that society places on businesses at a given point in time.