Corporate social responsibility (CSR) is the notion that corporations are expected to go above and beyond following the law and making a profit. Archie Carroll developed a global corporate social responsibility pyramid, with the levels of economic, legal, ethical, and philanthropic. Figure 3.3 in the text describes the levels in the pyramid.
Carroll suggests that the priorities of the organization should be to:
o Be a good global corporate citizen, as defined by the host country’s expectations.
o Be ethical in its practices, taking host-country and global standards into consideration.
o Obey the law of host countries as well as international law.
o Make a profit consistent with expectations for international business.
Select a company identified as one of the “Companies With the Best CSR Reputations” reported by Forbes
Review Carroll’s publication The Pyramid of Corporate Social Responsibility
Answer the following:
a. Consider the steps on Carroll’s “Pyramid of Corporate Social Responsibility” (economic, legal, ethical, and philanthropic/voluntary responsibilities). Why do you think the company made the list? Do some research and provide specific examples of EACH step on the pyramid.
b. Do you think it is possible to make money and still be socially responsible? Why or why not?