Iron Law of Responsibility definition

Iron Law of Responsibility which means that the corporations‟ social power which is given by society can also be taken away by them if not using that power responsibly. Being responsible and being responsive are two different characteristics and therefore corporations for the long-run have to fear society pressure. Epstain attempts to clarify the difference between responsibility and responsiveness with an example. “Suppose, for example, that a multiproduct firm‟s social responsibility is to produces reasonable safe products. Similarly, the same firm is responsive every time it produces an unsafe product: it withdraws the product form the market as soon as the product is found to be unsafe.”84 Contrary to that interpretation responsibility and responsiveness can also be seen as essential and supplemental.85

Examples of Iron Law of Responsibility in a sentence

  • If nothing in the empowering language of Art 35(8) of the Constitution ie, the “[AG] shall have power, exercisable at his discretion, to…” vests exclusive power over the institution and conduct of criminal proceedings on the AG such that these are matters for only the AG to decide, it would seem that nothing in the same language vests exclusive power over the discontinuance of criminal proceedings on the AG.

  • The UN Global Compact was formally launched in September 2000.(ii) The Iron Law of Responsibility: The institution of business exists only because it performs invaluable services for society.

  • This has also been referred to as a „licence to operate‟ (Post et al, 2002) and the Iron Law of Responsibility, posited by Davis (1967) which holds ‘Those that do not take responsibility for their power ultimately lose it’ (Davis, 1967:49).

  • Where the Iron Law of Responsibility in the Netherlands means losing customers, it could mean losing your head in Ethiopia.

  • The Iron Law of Responsibility is perhaps felt more directly for the land-based companies in Ethiopia because of the intense violence and destruction in 2016 and 2017.

  • CSR is also strongly thought of in terms of the Iron Law of Responsibility, which states that companies will lose power if they use it irresponsibly.

  • These social factors can contain elements of Wallich (1970), where CSR measures improve the general business climate, but also in a prophylactic sense as Davis’ (1973) described with its Iron Law of Responsibility.

  • For the entrepreneurs, CSR has a very strong link to self-preservation or public relations; this is the Iron Law of Responsibility in effect.

  • Furthermore, CSR seems to be viewed not as a positive development instrument but as prophylaxis, for the companies it is conceptualized in the sense of the Iron Law of Responsibility and by RVO as a political necessity.

  • In fact, the Iron Law of Responsibility probably takes a more serious form in the case of entrepreneurs in Ethiopia than how Davis’ (1973) imagined it, seeing how breaking ‘’The Law’’ in this case could mean violence and destruction.

Related to Iron Law of Responsibility

  • Financial responsibility means the ability to respond in damages for liability thereafter incurred

  • Official responsibility means administrative or operating authority, whether intermediate or final, to initiate, approve, disapprove or otherwise affect a procurement transaction, or any claim resulting therefrom.

  • parental responsibility , in relation to a child, means all the duties, powers, responsibilities and authority which, by law, parents have in relation to children.

  • EU Data Protection Law means (i) prior to 25 May 2018, Directive 95/46/EC of the European Parliament and of the Council on the protection of individuals with regard to the processing of Personal Data and on the free movement of such data ("Directive") and on and after 25 May 2018, Regulation 2016/679 of the European Parliament and of the Council on the protection of natural persons with regard to the processing of Personal Data and on the free movement of such data (General Data Protection Regulation) ("GDPR"); and (ii) Directive 2002/58/EC concerning the processing of Personal Data and the protection of privacy in the electronic communications sector and applicable national implementations of it (as may be amended, superseded or replaced).

  • Customer Responsibilities means the responsibilities of the Customer set out in Call Off Schedule 4 (Implementation Plan) and any other responsibilities of the Customer in the Call Off Order Form or agreed in writing between the Parties from time to time in connection with this Call Off Contract;

  • Corporation Law means the general corporation law of the jurisdiction of incorporation of the Corporation.

  • Data Protection Law means the applicable legislation protecting the fundamental rights and freedoms of persons and their right to privacy with regard to the processing of Personal Data under the Agreement (and includes, as far as it concerns the relationship between the parties regarding the processing of Personal Data by SAP on behalf of Customer, the GDPR as a minimum standard, irrespective of whether the Personal Data is subject to GDPR or not).

  • Occupational Health and Safety Act means the Occupational Health and Safety Act, 1993 (Act No 85 of 1993);

  • health and safety specification means a site, activity or project specific document prepared by the client pertaining to all health and safety requirements related to construction work;

  • Emergency Response Plan means a plan developed by a school district or school to prepare and protect students and staff in the event of school violence emergencies.

  • Threat of Release means a substantial likelihood of a Release that requires action to prevent or mitigate damage to the Environment that may result from such Release.

  • Responsibility means a duty for which a person is accountable by virtue of licensure.

  • EU Data Protection Laws means EU Directive 95/46/EC, as transposed into domestic legislation of each Member State and as amended, replaced or superseded from time to time, including by the GDPR and laws implementing or supplementing the GDPR;

  • Health and Safety Plan means a documented plan which addresses hazards identified and includes safe work procedures to mitigate, reduce or control the hazards identified;

  • Law of war means that part of international law that regulates the conduct of armed hostilities. The law of war encompasses all international law for the conduct of hostilities binding on the United States or its individual citizens, including treaties and international agreements to which the United States is a party, and applicable customary international law.

  • Rail Safety Act means the Rail Safety Act 1998 (WA);

  • The "Clean Air Act means those provisions contained in 42 U.S.C. §§ 7401 to 7671q, and regulations promulgated thereunder.

  • Applicable Data Protection Law means, as applicable, the EU General Data Protection Regulation (Regulation 2016/679) (as may be amended, superseded or replaced) ("GDPR") and all other supplemental or implementing laws relating to data privacy in the relevant European Union member state, including where applicable the guidance and codes of practice issued by the relevant supervisory authority, and/or all applicable analogous privacy laws of other countries;

  • Taxation law means the law on taxation in any jurisdiction which applies to the Account or to interest we pay you, for example the Taxes Consolidation Act 1997 as amended and any regulation made under it;

  • Data Protection Laws means any law, statute, subordinate legislation, regulation, order, mandatory guidance or code of practice, judgment of a relevant court of law, or directives or requirements of any regulatory body which relates to the protection of individuals with regard to the processing of Personal Data to which a Party is subject including the Data Protection Act 2018 and any statutory modification or re-enactment thereof and the GDPR.

  • Remedial response means a measure to stop and correct prohibited conduct, prevent prohibited conduct from recurring, and protect, support, and intervene on behalf of a student who is the target or victim of prohibited conduct.

  • Emergency Response Agency is a governmental entity authorized to respond to requests from the public to meet emergencies.

  • the applicable data protection law means the legislation protecting the fundamental rights and freedoms of individuals and, in particular, their right to privacy with respect to the processing of personal data applicable to a data controller in the Member State in which the data exporter is established;

  • health and safety file means a file, or other record containing the information in writing required by these Regulations "health and safety plan" means a site, activity or project specific documented plan in accordance with the client's health and safety specification;

  • Disaster Management Act means the Disaster Management Act, 2002 (Act No.57 of 2002)

  • Workplace Harassment means engaging in a course of vexatious comment or conduct against a worker in a workplace that is known or ought reasonably to be known to be unwelcome”. Ref: Occupational Health and Safety Act, Sec. 1 (1). The employee rights set out above shall be interpreted within the context of the Ontario Human Rights Code. An employee who believes that she has been harassed, contrary to this provision shall be encouraged by both parties to follow the Employer’s policy on harassment and process. Failing resolution, an employee may follow the process set out in the Complaint, Grievance and Arbitration procedure in Article 8 of the Collective Agreement. The employee shall be encouraged by both parties to exhaust these processes prior to filing a complaint with the Ontario Human Rights Commission.