You manage a processing plant which produces a toxic waste. Disposing of this waste is costly and since the volume of waste produced is low, the company has been dumping it into the local river system. The company is privately owned by a small group of investors who have been demanding increased return on their investment and have also suggested staff cuts. Despite this pressure you are determined to propose a strategy that includes being more socially responsible. You now have an opportunity to make a presentation to the Board on this issue.
a) Briefly define what social responsibility is and what it would mean in this scenario. In your answer be sure to identify who the stakeholders are and their interests.
b) Identify the issues you will address with the board including the benefits and limitations of becoming socially responsible.