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37-38) describe a socially responsible firm would need to make a profit [Economic], obey the law [Legal], be ethical [Ethical] and be a good corporate citizen [Philanthropic]. Based on the figure 2-2 (Carroll & Buchholtz 1999, p. 36), it shows that economic, legal are required, whereas the ethical and philanthropic are expected and desired respectively.
Different groups of stakeholders will expect different things in these four responsibilities. This report will be touching on employees, who are the primary stakeholders whose association is necessary and very important for a firm to survive in the economy as they are the ones who influence the firm’s business day-to-day (Ferrell, Fraedrich & Ferrell 2005, p...
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