Social Responsibility, Corporate Constituency Statutes, and the Social Benefit Corporation
International Journal of Management and Administrative Sciences
ISSN or ISBN
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.
Cavico, Frank J. and Mujtaba, Bahaudin G., "Social Responsibility, Corporate Constituency Statutes, and the Social Benefit Corporation" (2012). HCBE Faculty Articles. 485.