[Solution] Managing Social Responsibility
Created at:
Author: Sarah Bennett
Heightened public awareness of unethical business practices has led to demands that businesses behave responsibly. Therefore, businesses should develop and implement socially responsible strategies, just as they would develop any other business strategy. They can do this in formal and informal ways.
Formal Actions
There are three formal ways in which businesses manage their own social responsibility:
- Legal compliance: Managers and lawyers ensure that the business is operating in line with all applicable laws and regulations.
- Ethical compliance: Codes of conduct, training programs, and program reviews ensure the business and all its officers and employees behave in an ethical and socially responsible manner.
- Philanthropic giving: Donations to charities and other causes promote the public good.
Informal Actions
Beyond formal procedures, businesses can promote social responsibility through less structured approaches such as leadership by example and organizational culture.
Evaluation
Organizations should regularly assess the effectiveness of their social responsibility initiatives to ensure they are meeting their intended goals.
Select the term that best completes the following sentence.
When a business employs managers and lawyers to ensure the company is not breaking the law, it is managing its social responsibility through .
View Explanation
Legal compliance is one formal way in which businesses manage social responsibility. On-staff managers and lawyers ensure that the business is operating in accordance with all applicable laws and regulations.
Select the correct response(s) to the following question.
Which of the following are examples of promoting social responsibility via whistle-blowing? Check all that apply.
- Encouraging employees to come forward when they discover wrongdoing within the business
- Directing managers to act as ethical role models for other employees
- Working to correct any reported misdeeds that occurred inside the organization
- Dealing fairly and honestly with all stakeholders
View Explanation
Managers promote social responsibility when they encourage employees to speak up about wrongdoing in the business. Managers who listen to whistleblowers instead of silencing them direct the organization toward social responsibility.
