MGT503 Principles of Management Assignment No 1 Due Date: 30th May 2014

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Principles of Management (MGT503) Assignment # 1

Question 1: (3 marks)
You are required to provide the following information regarding your visited organization.
i. Name and Address of the Organization:
ii. Name and Designation of the Contacted Person:
iii. Contact number & Email Address of the Contacted Person:
Question 2: (2 marks)
Brief the activities/ programs of the organization performed in order to be socially responsible?
Question 3: (2 marks)
What is the opinion of manager regarding success of their CSR activity? How does this activity serve the required purpose?
Question 4: (3 marks)
Analyze the organization’s CSR activities and evaluate how well it is performing. Provide your own judgment about the social responsibility practices of the organization. (2)
Instructions: This is a practical project where you have to visit an organization and collect required information You are required to write your answers on the basis of collected information in the given format. Be very specific and to the point while filling in the proforma Do not write any definition or theoretical explanation of the concepts

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What is Social Responsibility?
Before the 1960s, few people questioned the role of business organizations in social responsibility. However, times have changed. Now it’s important to get an understanding of what social responsibility is.
There are two opposing views of what social responsibility is.
1. The classical view is the view that management’s only social responsibility is to maximize profits.
a. Milton Friedman is the most outspoken advocate of this view.
b. He argues that managers’ primary responsibility is to operate the business in the best interests of the stockholders—the true owners of the organization.
2. The socioeconomic view is the view that management’s social responsibility goes well beyond the making of profits to include protecting and improving society’s welfare.
a. The argument behind this view is that corporations are not independent entities responsible only to stockholders.
b. Also, modern organizations are no longer just economic institutions.

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There are 10 major arguments for social responsibility, and they include the following:
a. Public expectations
b. Long-run profits
c. Ethical obligation
d. Public image
e. Better environment
f. Discouragement of further government regulation
g. Balance of responsibility and power
h. Stockholder interests
i. Possession of resources
j. Superiority of prevention over cures