HCBE Faculty Articles

Social Responsibility, Corporate Constituency Statutes, and the Social Benefit Corporation

ORCID

Frank J. Cavico0000-0002-6258-2136

,

Bahaudin Mujtaba0000-0003-1615-3100

Document Type

Article

Publication Title

International Journal of Management and Administrative Sciences

ISSN

2225-7225

Publication Date

1-1-2012

Abstract/Excerpt

Company owners, shareholders, and investors expect a positive return on their investments. However, business is further expected to achieve this economic value in conformity with the social norms in the community. That is, business must act in a profitable, legal, and moral manner and also to do so in a socially responsible manner. As such, above and beyond the responsibility to act legally and morally in the pursuit of profit is the notion of social responsibility, which typically today in a business context is called “corporate social responsibility” (CSR). This article discusses the concepts of social responsibility, corporation constituency statutes, and the social benefit corporation in a modern-day global business environment. Suggestions and recommendations for managers and organizations are provided.

Volume

1

Issue

7

First Page

21

Last Page

25

Comments

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