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Recently a project team for Cosco, the world's largest children's products company, developed a high chair that could be used as an infant feeding seat, a youth chair, a play chair, a booster chair, and it could be reclined to make an infant bed.Its design could be made and sold for $49.The marketing manager in consultation with other middle managers decided to have the prototypes checked out by Cosco employees who had small children.This was the only product testing performed on the product.Before Cosco pulled the unsafe chair from the market, several children were injured and some died as a result of using the chair.Cosco was charged with being unconcerned about consumers'
Triple Bottom Line
Reporting that includes financial performance, social performance, and environmental performance.
Motivated Reasoning
The tendency for a person to see what he or she wants to see in data.
Cognitive Bias
A consistent tendency to stray from normal or logical reasoning in making judgments, leading to drawing conclusions about others and situations in an unreasonable way.
Corporate Social Responsibility
A business model where companies integrate social and environmental concerns in their operations and interactions with stakeholders.
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