Views on Corporate Social Responsibility Essay - 1005 Words

Corporate Responsibility While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, â€Å"A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.† But such a concept has been much disputed since at least the 1970’s.†¦show more content†¦So any corporate social projects are made to motivate or attract employees, customers or investors, or to receive some taxation gains (Shaw Barry, 2011). This view is close to old traditional economic theories. For example the invisible-hand argument, based on studies of Adam Smith, stat es invisible hand of market affects all market participants’ actions and leads to general good. Any outside interference is not needed and only harms business (Shaw Barry, 2011). Also the â€Å"narrow† view is believed to protect interests of shareholders of corporations, as corporations first of all are created to satisfy their interests, which usually are clearly material. Social orientation of corporations decreases profits of shareholders. According to this view corporate responsibility concept can eliminate responsibility for individuals. Which if something went wrong they would probably attempt to justify their actions and blame corporate regulations instead. The â€Å"Broader view† is based on the idea that private or corporate interests cannot be separated from social ones (Hopkins, 2004). All participants’ actions are interdependent. For example, industrial activity causes the pollution of the environment that harms individuals and entire societ y. Social responsibility of corporations is also presented as their duty to protect their customers’ interests and to make safe product that are high quality. Supporters of the â€Å"broader† view usually are in favor of government interference.Show MoreRelatedViews on Corporate Social Responsibilities2056 Words   |  9 PagesBenn (2003) conceive corporations as channels of social purpose, constructed within society to attain useful social objectives. Henceforth, corporate social responsibility commits a significant role towards the sustainability of corporations. Both corporate social responsibilities and sustainability, and its related concepts influence all aspects of business. Chandler and Werther (2010) acknowledge the understanding of corporate social responsibilities as an aim to define the future of our societyRead MoreFriedmans View On Corporate Social Responsibility1775 Words   |  8 PagesFriedman’s View on Corporate Social Responsibility The answer to the questions of Why does a business exist? and What purposes does/should it serve within society? are not agreed upon by all. The concept that companies having social obligations beyond their economic benefit is controversial (Chandler Werther Jr., 2014). This paper will briefly examine the viewpoint of the well-known economist, Milton Friedman, whose assertions have been very influential in the debate surrounding corporate social responsibilityRead MoreDescribe the 2 views of Corporate Social Responsibility.2548 Words   |  11 Pagesthe corporate social responsibility of organizations. Opinions about businesss social responsibilities lie mainly between two extremes. 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Social Responsibility Social responsibility can be defined as: â€Å"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 itselfRead MoreAnglo American Corporate Social Responsibility1501 Words   |  7 Pagessaid to have responsibility†¦Ã¢â‚¬ , the improvement of the notion of Anglo-American corporate social responsibility (CSR) has rapidly expanded. This essay will review the important concept around Anglo-American CSR, its development and provide a verdict on the extent whether liberalisation, globalisation, and developments in the markets for debts and equity are impacting the tradition view of an Anglo-American public corporation and the nature of its social responsibility. 2. Tradition view of Anglo-SaxonRead More: Critically Evaluate Corporate Social Responsibility as an Ethical Tool Basing Some of Your Argument on the Toyota Case Study1711 Words   |  7 PagesWhat Corporate Social Responsibility is Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as aRead MoreAnglo American Corporate Social Responsibility1514 Words   |  7 Pagessaid to have responsibility†¦Ã¢â‚¬ , the improvement of the notion of Anglo-American corporate social responsibility (CSR) has rapidly expanded. This essay will review the important concept around Anglo-American CSR, its development and provide a verdict on the extent whether liberalisation, globalisation, and developments in the markets for debts and equity are impacting the tradition view of an Anglo-American public corporation and the nature of its social responsibility. 2. Tradition view According to