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Corporate Social Responsibility

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The concept of corporate social responsibility suggests that firms should consider not only their profitability but the obligations that they owe to their stakeholders. Who are the stakeholders of a firm, and how can a firm balance its obligations to stakeholders and the expectation that it will be as profitable as possible?

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The stakeholders are the employees, stockholders, customers and everyone who is affected in any way by the company and its operations. A firm can balance its ...

Solution Summary

The concept of corporate social responsibility suggests that firms should consider not only their profitability but the obligations that they owe to their stakeholders. Who are the stakeholders of a firm, and how can a firm balance its obligations to stakeholders and the expectation that it will be as profitable as possible?

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