![]() ![]() ![]() Trusteeship Theory Gandhi's theory of trusteeship is based on two basic premises- A) The rich cannot accumulate wealth without the cooperation of the poor. Business Responsibilities vs Personal Social Responsibilities social responsibilities of the executive: Family, conscience, feelings of charity, church, clubs, city, country Fiduciary responsibility: To make money for stockholders Andrew Carnegie’s Theory Legendary steel tycoon - Advocates benevolent, paternalistic leadership Enunciated Charity principle & Stewardship principle-the business of benevolence' He believed in the 'Gospel of Wealth,' which meant that wealthy people were morally obligated to give their money back to others in society. The Window dressing/cloak of social-responsibility is a lie and a sham which undermines free society. ![]() “The Social Responsibility of Business is to increase its profits” The Underlying Ethical principle: Manager has Fiduciary Responsibility to Owners The Purpose of Business in not to: - provide employment, eliminate discrimination, avoid pollution help the community, make life better for workers PR or Charity? If Companies give money to good causes because it gives them good Public Relations, then count it as advertising and don’t pretend it is done for the sake of charity. Theories of CSR, Generations of CSR Lecture 4 Stockholder Theory Milton Friedman: The Purpose of Business is to make money for the owner or stockholders.
0 Comments
Leave a Reply. |