Chapter 4 BUSINESS & SOCIETY Ethics and Stakeholder Management Carroll & Buchholtz 6e
Corporate Public Policy (CPP) CPP The firm’s position, stance, or strategy regarding the public, social, & ethical issues of SH. AIDS in Workplace Affirmative Action Sexual harassment Product safety Employee privacy
CPP as Part of Strategic Management Strategic Management How the firm positions itself in relation to the environment. Corporate Public Policy The part of the strategic management that focuses specifically on the public, ethical, & SH issues the firm faces.
In order for business ethics to be meaningful…. It must be linked to business strategy.
Top management philosophies adapt to changing society
Adopt a collaborative/problem-solving strategy instead of an adversarial strategy (encourage win-win, long term relationship with SH)
Public Affairs strategies & CSP
Public Affairs “Thinking” Make public affairs truly relevant (impact) Help managers develop a sense of ownership (involve them) Make it easy for operating managers (training) Show how public affairs makes a difference (scorecards)