Today, my class was focused on the social implications of firms. While firms need to be profitable, they also aim to accomplish social values. Corporate Social Responsibility (CSR) is a measure of how well firms treat their surrounding community. Firms who practice fair trade, non-GMO products, employ workers at fair wages, and are generally socially contentious are rated at a high CSR level. Porter, who developed Porter’s Five Forces, believes companies should aim to reach CSR 3, where profitability and social responsibility are held as equally important.
In the morning class, we heard from guest speaker Dr. Eliada Griffin-EL, who is a professor at Robert Morris University and runs her own non-profit that helps younger children with learning disabilities. Dr. Griffin-EL also explained Developmental Economics, and how she believes we can make an impact in developing countries. I felt connected with Dr. Griffin-EL’s economic beliefs. Dr. Griffin-EL’s theories come from economic philosopher Amatarya Sen; some of his categories included restructuring of institutions, using markets for social change, addressing the intangible poverty. I believe firms can have multiple goals, but I do not think there should be laws forcing private
Today, we heard from Dr. Ray Jones, a professor at Pitt who teaches organizational behavior and runs the Certificate Program in Leadership and Ethics. At the beginning of his lecture, we completed a short Myers-Briggs quiz to understand our personality. I got the “Orange” category. People in the orange category are spontaneous, competitive, and energetic. Dr. Jones described each of the categories in depth and also described how each of the four personality categories works together in groups. I learned how strengths and weaknesses affect each group, and specifically how my personality can be to my advantage or to my disadvantage. While I can be a go-getter, oranges have a tendency to be too energized on occasion, which can affect group teamwork. Dr. Jones helped me understand the Certificate Program in Leadership and Ethics, but also made me reflect on my own personality. I now understand the strengths and weaknesses of my personality and how I can manage my traits to be a successful leader.