CHAT 7 with classmates on Corporate Social Responsibility 10 points

https://www.youtube.com/watch?v=ia3kcadITH8 and power point attached

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Questions:

1.) Any reactions to the promotional video on CSR? Do you think companies really want to be socially responsible?

2.) What is a stakeholder? How is this different from a stockholder?

3.) What is corporate social responsibility and how is it different from just “giving back to the community”?

4.) What is Friedman getting at when he says that the executive is an agent of a corporation?

5.) According to Milton Friedman, when people promote the idea that businesses should not be merely concerned with profit, they are really promoting socialism. How is this like what Carnegie was saying? Do you agree? Should there be a divide between corporate aims and social aims?

6.) What are the three problems that Freeman identifies with the dominant model of capitalism? Explain each.

7.) Freeman wants to replace the notion that managers have a duty to stockholders with the concept that they have a fiduciary relationship to stakeholders. What is he talking about? Discuss.

8.) To what degree, if any, should corporations be socially responsible? Explain.

9.) In your opinion, what is the main point/value of these readings?

Discuss the following cases: How do they relate to the topic of corporate social responsibility?

A week before Christmas a few years ago, bags of new clothes were found in trash cans. These bags of clothing were identified as having come from H&M and Wal-Mart. The clothes were purposely slashed to make sure that no one could wear them. When this was discovered, H&M and Wal-Mart reportedly declared that it was easier and more cost effective for them to have destroyed these items than to donate them to a charity. Should these have been donated? What about food that restaurants and grocery stores throw out? Do they have any social responsibility?

McDonald’s typically sells food that is unhealthy and contributes to obesity. The foods they sell are high in fat and calories and are addictive. Does McDonald’s, or any fast food restaurant, have a duty to sell healthy food? Or can/should they sell the food that sells the best?

REQUIREMENTS