1.5 Economic, Social, and Environmental Performance
LEARNING OBJECTIVES
1. Be able to define economic, social, and environmental performance.
2. Understand how economic performance is related to social and environmental performance.
0. Triple bottom line
* Triple bottom line refers to the measurement of business performance along social, environmental, and economic dimensions.
1. Economic Performance
* Economic performance of a firm is a function of its success in producing benefits for its owners in particular, through product innovation and the efficient use of resources.
2. Social and Environmental Performance
* Corporate social responsibility (CSR)
* CSR is a concept whereby organizations consider the interests of society by taking responsibility for the impact of their activities on customers, suppliers, employees, shareholders, communities, and the environment in all aspects of their operations.
3. Integrating Economic, Social, and Environmental Performance
* CSR helps attract and retain the best and brightest employees.
* Firm is being responsive to market demands, to observations about how some environmental and social needs represent great entrepreneurial business opportunities in and of themselves.
KEY TAKEAWAY
EXERCISES
1.6 Performance of Individuals and Groups
LEARNING OBJECTIVES
1. Understand the key dimensions of individual-level performance.
2. Understand the key dimensions of group-level performance.
3. Know why individual- and group-level performance goals need to be compatible.
1. Individual-Level Performance
* In-role performance or things you have to do in your job
* Extra-role performance or organizational citizenship behaviors (OCBs)
2. Group-Level Performance
* Group-level performance focuses on both the outcomes and process of collections of individuals, or groups.
* Process loss is any aspect of group interaction that inhibits good problem solving.
* Team is a cohesive coalition of people working together to achieve the team agenda (i.e., teamwork).
3. Compatibility of Individual and Group Performance
* Compatibility of individual and group performance, typically with respect to goals and incentives.