Saturday, August 07, 2010

The Socioeconomic View vs. The Classical View

The socioeconomic view and the classical view are two approaches that shape and influence the way managers (especially in large organizations) prioritize and do things.

The socioeconomic view is “the view that management’s social responsibility goes beyond making profits to include protecting and improving society’s welfare” (Robbins, S et al. 2006, p.161). According to Carroll (1991), the four fundamentals to corporate social responsibilities - economic, legal, ethical, and philanthropic - can be linked to corporate social processes such as environmental assessment, stakeholder management, and issues management (Wood, 1991)... Read more>>

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