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principles, values, and beliefs that define what is right and wrong behavior
the rules people develop as a result of cultural values and norms
a businesses intention, beyond its legal and economic obligations, to do the right things and act in ways that are good for society
Corporate Social Responsibility- sustainability
the idea that socially responsible companies will outperform their peers by focusing on the world's social problems and viewing them as opportunities to build profits and help the world at the same time
Social Responsibility Arguments
- Against- managements only social responsibility is to maximize profits by operating the business in the best interests of the stockholders
- For-firms have a moral responsibility to larger society to become involved in social, legal, and political issues, + "to do the right thing"
Social Responsibility Conclusion
- studies show a positive relationship between social involvement and the economic performance of firms
- -general conclusion is that a firms social actions do not harm its long-term performance
term used to define concern with the environmental consequences of a variety of marketing activities