Do firms have moral duties towards society or is the only purpose of business to increase short-term profits? There is no discussion any more about the responsibilities that firms have for a sustainable development for our societies.  Leaders of companies have become accountable for the results of their decisions for stakeholders value as well as shareholders value, profit and market share. They recognize that ethical and economic action can co-exist.

Companies use corporate social responsibility (CSR) to attract groups of responsible consumers and potential employees. The social and environmental impact of firms has an impact also on business value. Integrated CSR means a more comprehensive approach than shortsighted avoidance of ethical risk. In order to benefit the company, CSR activities must manifest the firm’s underlying purpose. CSR initiatives are voluntary acts that go further than governmental regulations. It means mindful management of both human and natural resources.

The purpose of the course is to apply the conceptual tools for thinking strategically about the challenges of global leaders in the global markets:

• a sustainability challenge (i.e. to balance today’s ecological, social and economic requirements with those of future generations)
• an ethics challenge (i.e. to respond effectively to complex ethical issues and moral dilemmas)
• a citizenship challenge (i.e. political co-responsibility of global multinationals for socio-political issues such as human rights, social justice and environmental protection)
• a diversity challenge (i.e. to respond effectively to and “to balance multiple and often competing stakeholder interests”).

Upon completion of the course, the students should…

1. Be able to display knowledge of ethics and CSR, and the role these concepts play for companies,
2. Understand the purposes and practices of corporate social responsibility (CSR),
3. Show awareness of the controversies relating to corporate activities in the areas of ethics and CSR, and
4. Evaluate the validity and relevance of different external demands on business.

• Academic journal articles
• Case studies
• Interactive learning
• Group activities and discussion

The course grade will be based on:

1. Individual essay based on James Rachels’ book (30%)
2. Individual reflection paper (30%)
3. Case study: group work (40%)

The use of any kind of AI-based software (e.g. ChatGPT, Bard etc.) is prohibited for examinations and performance components of this course and is considered to be fraudulent or cheating, since there would be a pretense of scientific achievements.

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