- Define social responsibility. How does this view of the role of business differ from your previous perceptions? How is it consistent with your attitudes and beliefs about business?
- If a company is named to one of the “best in social responsibility” lists, what positive effects can it potentially reap? What are the possible costs or negative outcomes that may be associated with being named to one of these lists?
- What historical trends have affected the social responsibilities of business? In light of current trends and issues, what changes in these responsibilities and expectations do you predict over the next five years?
- Define crisis management. What should a company facing a crisis do to satisfy its stakeholders and protect its reputation?
- Describe the process of developing stakeholder relationships. What parts of the process seem most important? What parts seem most difficult?
- What are the differences between the reactive, defensive, accommodative, and proactive approaches to stakeholder relationships?
- What is corporate governance? Why is corporate governance an important concern for companies that are pursuing the social responsibility approach? How does it improve or change the nature of executive and managerial decision making?
- Compare the shareholder and stakeholder models of corporate governance. Which one seems to predominate today? What implications does this have for businesses in today’s complex environment?
- How have economic circumstances contributed to the growing trend toward increasing corporate governance? Why are accountability and control so important in the twenty-first century?
- Evaluate the top 10 companies on Fortune magazine’s annual list of the most admired companies found on the magazine’s website. These companies as a group have superior financial performance compared to other firms.