Khiva city. "Mamun non-state" University
22/22 - psychology 1th cours student Otajonova Nodira
Chapter Objectives - To define the concept of social responsibility
- To trace the development of social responsibility
- To examine the global nature of social responsibility
- To discuss the benefits of social responsibility
- To discuss the framework for understanding social responsibility
What do you believe organizations should be responsible for accomplishing?
The adoption by a business of a strategic focus for fulfilling the economic, legal, ethical and philanthropic responsibilities expected of it by its stakeholders
Social Responsibility Defined
- Businesses should look beyond their self-interests and recognize that they belong to a larger group that expects responsible participation.
- Applies to all types of businesses
- Adopts a strategic focus
- Fulfills societal expectations
Social Responsibility Defined (cont.)
- Economic responsibilities
- Legal responsibilities
- Ethical responsibilities
- Philanthropic responsibilities
Social Responsibility Defined (cont.)
Who are the key stakeholders of the organization?
- Requires a stakeholder orientation
- Customers
- Employees
- Investors
- Stockholders
- Suppliers
- Government
- Communities
Social Responsibility Defined (cont.)
Those constituents who have a stake in, or claim on, some aspect of a company’s products, operations, markets, industry, and outcomes
Stakeholders
- Transparency
- A long-term perspective
- Liquidity
- Limited use of derivatives
- Absence of rating triggers
- Minimal counter-party exposure
- Diversification
Lessons Learned from Economic Crises
- Who determines social responsibility on a global scale?
Global Nature of Social Responsibility
- Greater trust with stakeholders
- Greater customer satisfaction
- Stronger employee commitment
- Stronger investor loyalty
- Greater profitability
- Countries with greater trust-based institutions foster a productivity-enhancing environment.
Benefits of Social Responsibility
- Trust is the glue that holds organizational relationships together.
- Stephen Covey contends that low trust results in organizational decay and relationship deterioration.
Social Responsibility Builds Trust
- The greater a company’s dedication to employees, the greater the likelihood that employees will take care of the organization.
Social Responsibility Strengthens Employee Commitment
- Quality is compromised.
- Service is compromised.
- Efficiency decreases.
What happens when employee loyalty is breached?
- Employee stock ownership plans (ESOPs)
- Employee-centered programs
Strengthening Employee Commitment
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