Socially Responsible Marketing

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What are firms often criticised of?
Understand the link between those criticisms and the subject of ethics.
How should firms respond to those criticism?
Through ethics?
Understanding the challenges to ethical decision-making.
What is Green Marketing?
Is green marketing a fad?
What is Corporate Social Responsibility (CSR)?.
Understand the drivers of CSR.
Do firms benefit from engaging in CSR activities?

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Socially Responsible Marketing

  1. SOCIALLY MARKETING RESPONSIBLE
  2. © 2014 Berlin Asong. All rights reserved. 2 I. Whatarefirmsoftencriticisedof? i. Understandthelinkbetweenthosecriticismsandthesubjectofethics. II. Howshouldfirmsrespondtothosecriticism? i. Throughethics? ii. Understandingthechallenges toethicaldecision-making. III. WhatisGreenMarketing? i. Isgreenmarketingafad? IV. WhatisCorporateSocialResponsibility(CSR)?. i. UnderstandthedriversofCSR. ii. DofirmsbenefitfromengaginginCSRactivities?
  3. © 2014 Berlin Asong. All rights reserved. 3 30minutes What criticisms do organisations face nowadays? Alternatively,what criticismsdo marketersfacenowadays?
  4. © 2014 Berlin Asong. All rights reserved. 4 1 CorporateTaxEvasion Picture source: www.ecumenicalnews.com
  5. © 2014 Berlin Asong. All rights reserved. 5 Picture source: metro.co.uk
  6. © 2014 Berlin Asong. All rights reserved. 6 STPaul’sCathedral,London CorporateGreed 2
  7. © 2014 Berlin Asong. All rights reserved. 7 Source: Northattan (2011). Retrieved from http://northattan.com/wp-content/uploads/2011/11/IMG_93111.jpg
  8. © 2014 Berlin Asong. All rights reserved. 8 (L-R) Mr. Jeffrey K. Skilling, former President and CEO of Enron Corporation; Dr. Robert Jaedicke, Board of Directors Chairman of Audit and Compliance Committee of Enron Corporation; and Mr. Herbert S. Winokur, Jr., Board of Directors Chairman of the Finance Committee of Enron Corporation, during the Oversight and Investigation Subcommittee hearing. ENRONGuilty of accounting embellishment & fraud. "Rogue" Bosses
  9. © 2014 Berlin Asong. All rights reserved. 9 WorldCom Accounting Scandal Revealed: 3.8 billion in mislabelled expenses had been used to inflate cash flow and hide losses in 2001 and early 2002. Shown is former Worldcom CEO Bernard Ebbers, Worldcom "Rogue" Bosses
  10. © 2014 Berlin Asong. All rights reserved. 10 BernardMadoff’s ponzischeme. "Rogue" Bosses
  11. © 2014 Berlin Asong. All rights reserved. 11
  12. © 2014 Berlin Asong. All rights reserved. 12 Wasthe2008-2009 GlobalFinancialCrisiscaused bycorporategreed?
  13. © 2014 Berlin Asong. All rights reserved. 13 ConsumerismAggressivepromotionglamorisesmaterialism. 3
  14. © 2014 Berlin Asong. All rights reserved. 14 Companies are often criticised for creating artificial needs. Doyouactuallyneedanotherpairofshoesorthatexpensiveshoes?
  15. © 2014 Berlin Asong. All rights reserved. 15 Thrown foods Source: WRAP (2012). Retrieved from www.wrap.org.uk/content/pictures Consequences of materialismand artificialneeds:
  16. © 2014 Berlin Asong. All rights reserved. 16 IntheUK,familyhouseholdthrows £680offoodayear. Source: WRAP (2012). Retrieved from www.wrap.org.uk/content/pictures Source: The Telegraph (2012). Retrieved from www.telegraph.co.uk/finance/personalfinance/consumertips/household- bills/9268980/Families-waste-680-of-food-a-year.html
  17. © 2014 Berlin Asong. All rights reserved. 17 Click slide to watch video. Internet connection is required.
  18. © 2014 Berlin Asong. All rights reserved. 18 Click slide to read article. Internet connection is required.
  19. © 2014 Berlin Asong. All rights reserved. 19 debts Consequences of materialism and artificial needs:
  20. © 2014 Berlin Asong. All rights reserved. 20 Illnesses
  21. © 2014 Berlin Asong. All rights reserved. 21 Obesesocietylinked tohighcarbproducts.
  22. © 2014 Berlin Asong. All rights reserved. 22 Childobesityoftenlinkedto highcarbproductsandpastimes thatdiscourageactivelifestyle.
  23. © 2014 Berlin Asong. All rights reserved. 23 Click slide to watch video. Internet connection is required. Source: BBC, 2013
  24. © 2014 Berlin Asong. All rights reserved. 24 Source: BBC, 2013 Click slide to watch video. Internet connection is required.
  25. © 2014 Berlin Asong. All rights reserved. 25 Picture source: http://news.mcdonalds.com/press-releases/mcdonald-s- launches-new-global-packaging-designs-nyse-mcd-975617 McDonald’s launches new packaging with QR codes, to help diners make informed dieting choices.—Jan. 2013
  26. © 2014 Berlin Asong. All rights reserved. 26 Depression
  27. © 2014 Berlin Asong. All rights reserved. 27 Exploitation of workers. 4
  28. © 2014 Berlin Asong. All rights reserved. 28 sweatshops
  29. © 2014 Berlin Asong. All rights reserved. 29 Underpaidworkers
  30. © 2014 Berlin Asong. All rights reserved. 30 Toyota Recalls, 2010. Providing customers with defective products or poor services. 5
  31. © 2014 Berlin Asong. All rights reserved. 31 February2013horsemeat scandal in Europe. Source: gawker.com
  32. © 2014 Berlin Asong. All rights reserved. 32
  33. © 2014 Berlin Asong. All rights reserved. 33 Misleadingnutritionallabels E.g. falsely claiming a product is an organic or fair-trade product.
  34. © 2014 Berlin Asong. All rights reserved. 34 Fanciful,expensivepackaging 6
  35. © 2014 Berlin Asong. All rights reserved. 35 Deceitful packaging
  36. © 2014 Berlin Asong. All rights reserved. 36 Usingexcesspackaging
  37. 37© 2014 Berlin Asong. All rights reserved. Highly priced products and services beyond the buying reach of many. 7
  38. © 2014 Berlin Asong. All rights reserved. 38 The poor pay for the same pricey products and services as the rich.
  39. © 2014 Berlin Asong. All rights reserved. 39 Barclays fined £290m for rigging LIBOR rate.Source: www.guardian.co.uk/business/2012/jun/27/barclays-chief-bob-diamond-bonus-fine FormerBarclaysCEOBobDiamondresignedamidliborscandal 3 July 2012 Source: insurance-center.org Price-fixing
  40. 40© 2014 Berlin Asong. All rights reserved. Deceptive, unethical & aggressive promotions. 8
  41. © 2014 Berlin Asong. All rights reserved. 41 Skechers USA Inc. fined $40 millionformisleadingadvertising claims.
  42. © 2014 Berlin Asong. All rights reserved. 42 SkechersDeceivedConsumerswithShoeAds Source: BloombergBusinessweek (2012). Retrieved from www.businessweek.com/ap/2012-05/D9UPVNB00.htm
  43. © 2014 Berlin Asong. All rights reserved. 43 Source: adpressive.com
  44. © 2014 Berlin Asong. All rights reserved. 44
  45. © 2014 Berlin Asong. All rights reserved. 45
  46. © 2014 Berlin Asong. All rights reserved. 46
  47. © 2014 Berlin Asong. All rights reserved. 47
  48. © 2014 Berlin Asong. All rights reserved. 48
  49. © 2014 Berlin Asong. All rights reserved. 49
  50. © 2014 Berlin Asong. All rights reserved. 50 Is it insulting?
  51. © 2014 Berlin Asong. All rights reserved. 51 Unfriend10friends,getafreewhopper
  52. © 2014 Berlin Asong. All rights reserved. 52 Give up your friends for a burger?
  53. © 2014 Berlin Asong. All rights reserved. 53
  54. © 2014 Berlin Asong. All rights reserved. 54 Stereotype
  55. © 2014 Berlin Asong. All rights reserved. 55 Stereotype
  56. © 2014 Berlin Asong. All rights reserved. 56 body figure & size. Stereotype
  57. © 2014 Berlin Asong. All rights reserved. 57 9 Land pollution
  58. © 2014 Berlin Asong. All rights reserved. 58 Airpollutionfrom industrialwastelike carbonemissions.
  59. © 2014 Berlin Asong. All rights reserved. 59 BPoilspill intheGulf ofMexico of2010.
  60. © 2014 Berlin Asong. All rights reserved. 60 Depletion ofnatural resources.
  61. © 2014 Berlin Asong. All rights reserved. 61 “Makingmore beerbutusing lesswater:we've setourselvesa targettoreduce ouraverage wateruseper hectolitreofbeer by25%by2015”. Picture: cervejaavecesar.blogspot.com SABMiller
  62. © 2014 Berlin Asong. All rights reserved. 62 “We are active in taking steps to discourage irresponsible drinking”.
  63. © 2014 Berlin Asong. All rights reserved. 63 Cultural imperialism by foreign brands: erodingnationalandsub-cultures. 10
  64. © 2014 Berlin Asong. All rights reserved. 64 Americanisation of cultures
  65. © 2014 Berlin Asong. All rights reserved. 65
  66. © 2014 Berlin Asong. All rights reserved. 66 Unauthorised used ofconsumers’ privatedetails. 11
  67. © 2014 Berlin Asong. All rights reserved. 67
  68. © 2014 Berlin Asong. All rights reserved. 68 Whatarethepossible impactofthese criticismsonorganisations(assumingtheywere aimedatyourfirm)?
  69. © 2014 Berlin Asong. All rights reserved. 69 Legalfines Consumerboycotts Reputationaldamage Unnecessarydistractions Lossofshareholderwealth Unsustainablebusiness Customerexodus Lossofjobs Etc. AdverseImpact
  70. © 2014 Berlin Asong. All rights reserved. 70
  71. © 2014 Berlin Asong. All rights reserved. 71 Howdoyou respondtothese criticisms?
  72. © 2014 Berlin Asong. All rights reserved. 72 ethics. Organisationsmust operatewithinacceptable
  73. © 2014 Berlin Asong. All rights reserved. 73 ETHICS ?
  74. 74 Ethics are values that an individual uses to interpret whether an action or behaviour is acceptable or appropriate. © 2014 Berlin Asong. All rights reserved. Peter Stanwick & Sarah Stanwick (2013), “Understanding Business Ethics”. 2nd edition. Sage publication, p. 3
  75. © 2014 Berlin Asong. All rights reserved. 75 It is the studyof morality.
  76. © 2014 Berlin Asong. All rights reserved. 76 It is the Study of right& wrong
  77. © 2014 Berlin Asong. All rights reserved. 77 What’s right & wrong is sometimes not clear-cut. For example…
  78. © 2014 Berlin Asong. All rights reserved. 78 Is it right or wrong for McDonald’s to profit from selling high carb meals often linked to obesity and heart-related diseases?
  79. © 2014 Berlin Asong. All rights reserved. 79 Is it right or wrong for companies to use bio-fuel made from corn when 9 million people (5 million are children) die each year of hunger?
  80. © 2014 Berlin Asong. All rights reserved. 80 Yahoo CEO Scott Thompson stepped down after it was revealed he doesn’t have a computer science degree as stated in his CV. RightorWrong? May 2012
  81. © 2014 Berlin Asong. All rights reserved. 81 He lied to get a job he “can do so well”. It could be argued… So what?
  82. © 2014 Berlin Asong. All rights reserved. 82 Hehastheskillstodo hisjob,butnolongerhas thetrustorintegrityofhis employees&shareholders. A counter-argument could be…
  83. © 2014 Berlin Asong. All rights reserved. 83 SkyNewsadmitshackingemails butsaysitwas'inthepublicinterest' Source: The Independent (2012). Retrieved from www.independent.co.uk/news/uk/crime/sky-news-admits- hacking-emails-but-says-it-was-in-the-public-interest-7621831.html
  84. © 2014 Berlin Asong. All rights reserved. 84 Sky News argues its action is morally right because it helped solve a crime. Hackinginto someone’s emailis a criminaloffence.
  85. © 2014 Berlin Asong. All rights reserved. 85 Is office romance a good thing or bad thing?
  86. © 2014 Berlin Asong. All rights reserved. 86 From where does society get its sense of right & wrong?
  87. © 2014 Berlin Asong. All rights reserved. 87 Laws | Policies
  88. © 2014 Berlin Asong. All rights reserved. 88 Fromwheredolawmakers orpolicymakersknowwhat isgood&bad?
  89. © 2014 Berlin Asong. All rights reserved. 89 Religion
  90. © 2014 Berlin Asong. All rights reserved. 90 Traditions
  91. © 2014 Berlin Asong. All rights reserved. 91 Experience
  92. © 2014 Berlin Asong. All rights reserved. 92 Common sense
  93. © 2014 Berlin Asong. All rights reserved. 93 Laws Religion Traditions Common Sense Experience Beliefs EthicsReferenceSet Peopleturntobeliefs, religion,laws,experience, traditions &commonsense whenmakingethicaldecisions.
  94. © 2014 Berlin Asong. All rights reserved. 94 Laws Religion Traditions Common Sense Experience Beliefs EthicsReferenceSet However,beliefs, religion, laws,experience,traditions &commonsense canspur behaviourswhichcanbe considered immoral.
  95. © 2014 Berlin Asong. All rights reserved. 95 What is right and wrong is subjective.
  96. © 2014 Berlin Asong. All rights reserved. 96 What is right and wrong is not universally binding.
  97. © 2014 Berlin Asong. All rights reserved. 97 Whatisrightandwrong can be complex.
  98. © 2014 Berlin Asong. All rights reserved. 98 LEVELS OF ETHICS
  99. © 2014 Berlin Asong. All rights reserved. 99 InternationalEthics NationalEthics OrganisationEthics Occupational Ethics PersonalEthics Levels of Ethics
  100. © 2014 Berlin Asong. All rights reserved. 100 InternationalEthics
  101. © 2014 Berlin Asong. All rights reserved. 101 National Ethics
  102. © 2014 Berlin Asong. All rights reserved. 102 OrganisationalEthics
  103. © 2014 Berlin Asong. All rights reserved. 103 Occupational Ethics
  104. © 2014 Berlin Asong. All rights reserved. 104 Personal Ethics
  105. © 2014 Berlin Asong. All rights reserved. 105 InternationalEthics NationalEthics OrganisationEthics Occupational Ethics PersonalEthics LevelsofEthics Sometimes, makinganethical decisionwould requirethe decision-makerto considerthe implicationsof twoormorelevels ofethics.
  106. © 2014 Berlin Asong. All rights reserved. 106 Thepracticesofmyfirm contradictmypersonal valuesandbeliefs.
  107. © 2014 Berlin Asong. All rights reserved. 107 Is your “personal ethics” aligned with the ethics of your country?
  108. © 2014 Berlin Asong. All rights reserved. 108
  109. GREEN
  110. © 2014 Berlin Asong. All rights reserved. 110 The practice of developing & marketing products or services with environmental & people considerations.
  111. MARKETING MIX © 2014 Berlin Asong. All rights reserved. 111 Marketing Mix Product Price Place Promotion People Physical Layout Process Planet
  112. MARKETING MIX © 2014 Berlin Asong. All rights reserved. Planetary Considerations Product Price Place PromotionPeople Physical Layout Process 112
  113. © 2014 Berlin Asong. All rights reserved. 113 Is green marketing a fad?
  114. © 2014 Berlin Asong. All rights reserved. 114 It’s likely not a fad because…
  115. © 2014 Berlin Asong. All rights reserved. 115 Greenpractices havebeenaround forseveralcenturies. 1 Saha, M. & Darnton, G. (2005), “Green Companies or Green Con-panies: Are Companies Really Green, or Are They Pretending to Be?”, Journal of Business and Society Review, vol. 110, no. 2, pp. 118-157
  116. © 2014 Berlin Asong. All rights reserved. 116 humansnurtured theenvironmentto ensurefoodsupplies.
  117. 117© 2014 Berlin Asong. All rights reserved. The size of the global green consumer market is growing. 2
  118. 118© 2014 Berlin Asong. All rights reserved. Almost 5000organisationspublishedcorporate responsibilityreportsin2010. 3 Corporate Register (2011), “Corporate Responsibility Reporting Awards ‘11”, Corporate Register, pp. 4-5
  119. © 2014 Berlin Asong. All rights reserved. 119 Makingmorebeerbutusingless water:we'vesetourselvesatargetto reduceouraveragewateruseper hectolitreofbeerby25%by2015.
  120. © 2014 Berlin Asong. All rights reserved. 120 In 2008, we achieved a 15.5% reduction in waste disposed to landfill.
  121. 121© 2014 Berlin Asong. All rights reserved. Leads to increased sales and earnings. 4
  122. © 2014 Berlin Asong. All rights reserved. 122 Toyota’sPriushasbeenasuccesswithover 3 millionunitssoldworldwidesinceitwentonsalesin1997.
  123. 123© 2014 Berlin Asong. All rights reserved. KraftFoodshas cutitsannualuseof fuelto680,000litres.
  124. 124© 2014 Berlin Asong. All rights reserved. 5 Improved corporate image.
  125. © 2014 Berlin Asong. All rights reserved. 125 Source:McDonald’s(2008)
  126. © 2014 Berlin Asong. All rights reserved. 126 Somearesceptical aboutthebenefitsof greenmarketing. Why?
  127. © 2014 Berlin Asong. All rights reserved. 127 Green products and services are expensive than theirnon-greencounterparts. 1
  128. © 2014 Berlin Asong. All rights reserved. 128 Few shoppers make buying decisions on green credentials. 2
  129. © 2014 Berlin Asong. All rights reserved. 129 Productsorservices that carry false eco-friendly claims. 3
  130. © 2014 Berlin Asong. All rights reserved. 130 Limited evidence supporting eco products or services sell more than non- eco products or services. 4
  131. © 2014 Berlin Asong. All rights reserved. 131
  132. CorporateSocialResponsibility © 2014 Berlin Asong. All rights reserved. 132
  133. © 2014 Berlin Asong. All rights reserved. 133 Afirmoughttoachieve social goalsbeside itsprofit-makinggoal.
  134. © 2014 Berlin Asong. All rights reserved. 134 Whatarethese social goals?
  135. © 2014 Berlin Asong. All rights reserved. 135 Consumers Employees Investors Suppliers/distributors Communities Government/Regulators Organisation
  136. © 2014 Berlin Asong. All rights reserved. 136
  137. © 2014 Berlin Asong. All rights reserved. 137 Why firms tend to aim for financial profit?
  138. © 2014 Berlin Asong. All rights reserved. 138 Profit is a measure of shareholders’ wealth. 1 Howwellshareholders’cashisused.
  139. © 2014 Berlin Asong. All rights reserved. 139 2 It’s a measure of managerial competence.
  140. © 2014 Berlin Asong. All rights reserved. 140 The firm needs to stay solvent. 3
  141. © 2014 Berlin Asong. All rights reserved. 141 Whyaskfirmstoadoptsocialgoals? what led to this idea of CSR?
  142. © 2014 Berlin Asong. All rights reserved. 142 Negative consequences of globalisation. 1
  143. © 2014 Berlin Asong. All rights reserved. 143 STPaul’sCathedral,London Globalactivism aimedatcorporate establishmentfuelledby… 2
  144. © 2014 Berlin Asong. All rights reserved. 144 “Excessive” executive pay.
  145. © 2014 Berlin Asong. All rights reserved. 145 Eventslikethe2008-2009 GlobalFinancialCrisis.
  146. © 2014 Berlin Asong. All rights reserved. 146 (L-R) Mr. Jeffrey K. Skilling, former President and CEO of Enron Corporation; Dr. Robert Jaedicke, Board of Directors Chairman of Audit and Compliance Committee of Enron Corporation; and Mr. Herbert S. Winokur, Jr., Board of Directors Chairman of the Finance Committee of Enron Corporation, during the Oversight and Investigation Subcommittee hearing. ENRONGuiltyofaccounting embellishment&fraud. Corporate crimes
  147. © 2014 Berlin Asong. All rights reserved. 147 WorldCom Accounting Scandal Revealed: 3.8 billion in mislabeled expenses had been used to inflate cash flow and hide losses in 2001 and early 2002. Shown is former Worldcom CEO Bernard Ebbers, Worldcom
  148. © 2014 Berlin Asong. All rights reserved. 148
  149. © 2014 Berlin Asong. All rights reserved. 149
  150. © 2014 Berlin Asong. All rights reserved. 150 Americanisation of cultures
  151. © 2014 Berlin Asong. All rights reserved. 151 Carbon emissions
  152. © 2014 Berlin Asong. All rights reserved. 152 BPoilspill intheGulf ofMexico of2010.
  153. © 2014 Berlin Asong. All rights reserved. 153 Wideninggap betweenthe poorandrich. Source: asiantrendsmonitoring.com Slums and luxury apartments exist side by side in Downtown Dhaka.
  154. © 2014 Berlin Asong. All rights reserved. 154
  155. © 2014 Berlin Asong. All rights reserved. 155 Depletion ofnatural resources.
  156. © 2014 Berlin Asong. All rights reserved. 156 Laws have failed to provide satisfactory guide to moral behaviour. 3
  157. © 2014 Berlin Asong. All rights reserved. 157 So, the firm benefits from incorporating social goals?
  158. © 2014 Berlin Asong. All rights reserved. 158 CSR CASE for
  159. © 2014 Berlin Asong. All rights reserved. 159 SustainabilityArgument Meetingtheneedsofpresentgeneration withoutcompromisingtheabilityoffuture generationstomeettheirownneeds. — Norwegian Prime Minister Gro Harlem Brundtland, 1980s
  160. © 2014 Berlin Asong. All rights reserved. 160 Does your firm act in ways that undermine the capacity of people to survive in the future?
  161. © 2014 Berlin Asong. All rights reserved. 161 Does the firm act in ways that hinder its capacity to survive in the future?
  162. © 2014 Berlin Asong. All rights reserved. 162 How do we ensure the firm survives in the future?
  163. © 2014 Berlin Asong. All rights reserved. 163 Kraft Foods supporting cocoa farmers in Ghana through training and equipment provision.
  164. © 2014 Berlin Asong. All rights reserved. 164 ReputationalArgument Toattracttalentedpeopleforwork
  165. © 2014 Berlin Asong. All rights reserved. 165 Tobuycustomerloyalty Source: Bonini, McKillop, & Mendonca 2007
  166. © 2014 Berlin Asong. All rights reserved. 166
  167. 167© 2014 Berlin Asong. All rights reserved. Almost 5000organisationspublishedcorporate responsibilityreportsin2010. Corporate Register (2011), “Corporate Responsibility Reporting Awards ‘11”, Corporate Register, pp. 4-5 AreasonwhyfirmshaveembracedCSRis becauseofthepositiveimpactoncorporateimage.
  168. © 2014 Berlin Asong. All rights reserved. 168 However,theveracity oftheclaimsinCSRreports hasbeenquestioned.
  169. © 2014 Berlin Asong. All rights reserved. 169 License-to-operateArgument Through CRS, the firm obtains& renews its permission to operate.
  170. © 2014 Berlin Asong. All rights reserved. 170 MoralArgument It’s simply the right thing to do.
  171. © 2014 Berlin Asong. All rights reserved. 171 New-marketopportunityArgument CSR can present opportunities for new ideas (newproducts,services,orbusinesses).
  172. © 2014 Berlin Asong. All rights reserved. 172 “CSRcanbeasourceofopportunity, innovation,andcompetitiveadvantage.” — Porter & Kramer (2006) Strategy & Society, HBR
  173. © 2014 Berlin Asong. All rights reserved. 173 Toyota’sPriushasbeenasuccesswithover 3 millionunitssoldworldwidesinceitwentonsalesin1997.
  174. © 2014 Berlin Asong. All rights reserved. 174 CSR CASE against
  175. © 2014 Berlin Asong. All rights reserved. 175 Afirmisaprofit-makingunit; CSRderailsthefirm fromitsgoaltomake moneyforitsowners. 1
  176. © 2014 Berlin Asong. All rights reserved. 176 ...goesagainstthis.
  177. © 2014 Berlin Asong. All rights reserved. 177 managersareeconomicagents.
  178. © 2014 Berlin Asong. All rights reserved. 178 Socialgoals aretheprovince ofgovernments, notfirms. 2 Source: rnw.nl Former US President Bill Clinton in Haiti following the 2010 catastrophic earthquake.
  179. © 2014 Berlin Asong. All rights reserved. 179 Byachievingeconomic goals,thefirmindirectlyhelps societyachievesocialgoals. 3 Throughtaxationrevenue;staffemployment;& productsorservicesthatimpactconsumerlives.
  180. © 2014 Berlin Asong. All rights reserved. 180 CSRisexpensive;bad useofshareholder’smoney. 4
  181. © 2014 Berlin Asong. All rights reserved. 181 Dofirmsthatengage inCSRactivitiesoutperform thosethatdon’t? 5
  182. © 2014 Berlin Asong. All rights reserved. 182

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