An unchecked, unbridled pursuit of economic value, without regard to the social consequences (e.g., such as by manufacturing a product in a way that generates excessive pollution), creates ______.

Question

Quizplus · Accepted Answer

The unchecked pursuit of economic value without regard to social consequences creates a CSR deficit for the society in which the firm operates, which means that the firm has not fulfilled its social responsibilities and has not contributed positively to society. This can have negative consequences for the firm in the long term, such as reputational damage and loss of customer loyalty. The Iron Law of Social Responsibility refers to the belief that a firm's social responsibilities are determined by its economic power, and therefore, larger firms have greater social responsibilities than smaller firms. The strategic CSR window of opportunity refers to a period of time when a firm can take advantage of certain opportunities to create value for both the firm and society through CSR initiatives. The CSR perspective refers to a way of thinking about business that emphasizes the importance of social and environmental considerations.

An Unchecked, Unbridled Pursuit of Economic Value, Without Regard to the Social