Arguments for and Against Corporate Social Responsibility Essay examples
Words: 982
Pages: 4
What is corporate social responsibility? Give arguments for and against social responsibility? Ans. Social Responsibility Social responsibility can be defined as: “A business’s obligation to follow goals that are good for both organization and society in the long-term, and are not required by law.” Corporate Social Responsibility The term "corporate social responsibility" came in to common use in the early 1970s. It means the duty of an organization towards society in order to prove itself responsible about its actions and their effects on environment, community and external stakeholders. It means that an organization is responsible for all its action towards the people who are affected by its actions and processes. Therefore, Those who say that organization should not be socially responsible state that such activities increase the cost of doing business. As one of the major goals of a business is to reduce the costs, such practices are in opposition with benefit of business owners. For example, investing in a production plant which emits less carbon to the environment needs higher expenses as compared to the normal, cheap plant but is dangerous for environment is a question for managers. 3- Social Responsibility and Ethics Organizations should not be involved in any kind of practices which may give rise to the feeling of inequity and unfair actions in society. Discrimination based on gender, race and nationality is one major action which is considered as the social responsibility of organizations. When giving promotions to employees, every person should be given an equal chance to advance in the career and should be treated fairly. The proponents of corporate social responsibility also admit the fact that the organizational practices should be ethical in nature but to a limited extent. The practices should not harm anyone but should place organizational interest before the community interest.
4- Social Responsibility and Environment A corporation must produce goods and services that are beneficial to society while making sure that the processes of production also avoid damage, such
Related Documents: Arguments for and Against Corporate Social Responsibility Essay examples
that contradicts that the responsibilities of business management are generally interpreted as an assertion in favor of profit above all. For many, the view that purpose of a corporation is to make a profit for stockholders is beyond debate and is accepted as a matter of fact (Arnold, Beauchamp & Bowie 2013). The classic view or observation to any corporation is that their primary goal is to maximize profits and Friedman’s theory argues for that view. Friedman has two arguments for that theory; first…
rights and responsibilities like a regular person. It is so distinct that the shareholders cannot sue it. This feature makes it so powerful because they can improve productivity and they possess the legal rights of a human without the biological disadvantages. They cannot die of old age or get married and bear children. It has no body to be punished nor a soul to be condemned (Wooldridge, 2003). The Romans were believed to have come up with some of the fundamental concepts of corporate law, including…
Overview of Corporate Social Responsibility 3 Archie Carroll’s Pyramid of Corporate Social Responsibility 4 Advantages of Corporate Social Responsibility 4 Innovation 5 Cost Savings 5 Long-Term Thinking 5 Public Image and Brand Differentiation 5 Employee Engagement 5 Arguments against Corporate Social Responsibility 6 Misalignment with Profit Maximization 6 Accountability and Green-washing 6 Business Mandate and Skill Set 7 Issue Statement 7 Stakeholders 7 Aritiza’s Current CSR Strategy 8 The Social and…
The tobacco industry’s use of corporate responsibility to change their unethical public image is ineffective and disingenuous, as they are simply using this strategy as a defence against public disparagement. The farming and production of tobacco carries widespread environmental impacts which are damaging to the surrounding ecosystems and natural processes…
Corporate Social Responsibility (CSR) Corporate social responsibility (CSR) is increasingly discussed and recognized as essential as to existence of the corporations. In this contemporary world corporations are expected to report not only their accounting profits but also their social and environmental responsibility. Corporate social responsibility reporting is an emerging field at the global level, which is on its way of gaining its position as a mandatory business practice. However many of the…
behavior by organizations in both their strategy formulation and day-to-day operations. An ethical approach is becoming necessary both for corporate success and a positive corporate image. Following pressure from…
dominated by service business. As such a big company who was running businesses for decades, GE has a lot of social responsibilities. Corporate social responsibility is the duty of a corporation to create wealth in ways that avoid harm to, protect, or enhance societal assets. I will analysis the social responsibilities of GE from the following aspects. First of all, GE had economic responsibilities to society and GE did well on it. GE paid taxes—5.7 billion in 2000. Taxes can be considered as the major…
Ethics and Social Responsibility Ethics and Social Responsibility although different in definition, are equally important to an organization in developing a viable strategic plan. The plan is vitally important to the success of the organization; the key variable in developing a strategy with potential success is the consideration of how the strategic plan affects stakeholders. This brief ethics and social responsibility essay highlights ethics and social responsibilities role in developing the…
maximise profit, it cannot be concerned with corporate social responsibility’ Throughout time, humans have continually expressed the fears and concerns of their era through different forms of expression. These concerns have highlighted the plights and struggles of generations and give an understanding to their views of topical issues of their time. An issue prevalent today within our fast-paced and rapidly expanding society is one of Corporate Social Responsibility, with booming organisations finally having…
Traits associated to a psychopath include irresponsibility, manipulation, grandioseness, lack of empathy, asocial tendencies, inability to feel remorse, refusal to take responsibility for one's actions and superficial relations with others. Modern day corporations display every one of the previously listed characteristics. Is it right that an institution, whose power now rivals that of the State that once created it to seek the better welfare of its citizens, display the psychological traits of…