Explain the Theory of Precedent

question 7

Essay

Explain the theory of precedent.

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Definitions:

Social Performance

The measure of an organization's or individual's ability to manage social responsibilities and impacts.

Stakeholder Responsibility

The obligation of an organization to consider the impacts of its decisions and activities on all its stakeholders.

Obstructionist Strategy

A business strategy where a company takes active steps to block or derail certain actions or initiatives, often for competitive or ethical reasons.

Corporate Social Responsibility

A business model that involves companies integrating social and environmental concerns in their operations and interactions with their stakeholders.