Est1 Essay

Because corporations are established to profit and shareholders invest money with expectations of a greater return, managers cannot be given a directive to be “socially responsible” without providing specific criteria of checks and balances to which needs to adhere. Therefore, it is imperative to the success of a corporation for managers to not act solely but rather to act within the policies of the shareholders.

When an organization partakes in “proactive behavior…for the benefit of society,” it is deemed as socially responsible (P. 155). However, prior to labeling a organization as socially responsible, it is important that we first identify what specific elements of proactive behavior constitute a socially responsible business. To begin, for an organization to be considered socially responsible on the highest level, it must take a proactive approach to doing business. This is defined as “[taking a] approach to social responsibility in which an organization goes beyond industry norms to solve and prevent problems” (P.155). In addition, it is standard for a socially responsible organization to incorporate a larger scope of stakeholders, to include external stakeholders, in their business decisions to create positive externalities, and mitigate negative ones, to benefit society as a whole.

B. The existing policies of the company in relation to rewards and recognition for the workers

Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal

I think Social responsibility has a key role in establishing a company’s business model. When operating a business, a company must contemplate the social responsibility behind their business when making their business model. Where do their responsibilities lie, what fits with their business plan, and how much investment can they really declare to their shareholders, that

Social responsibility is very important for companies. Companies should not be solely focused on maximizing profits. They should develop the business with a positive relationship to the society in which they operate. Organizations must behave ethically toward social, cultural, economic, and environmental issues. Walmart has succeeded with social responsibility. The company goes beyond compliance to make a

Drawing from these debates, Archie Carroll has developed “the Pyramid of Corporate Social Responsibility”, one of the most significant concepts of CSR. There are four kinds of social responsibilities that contribute total CSR, he suggested, Economic, Legal, Ethical, and Philanthropic (1991). Therefore being socially responsible does not mean forgetting the fundamental aspect of business, to make profit. The obligation of Law restricts business activities and they are the rules of the game which businesses have to obey. Being ethical is to perform actions that are fair, morally good, and of stakeholders’ interests, even outside the boundary of law. Considering corporate citizenship, philanthropic responsibilities are responses to the rising society’s expectations to business (Carroll, 1991). The notion of discretionary and voluntary distinguishes philanthropic responsibilities to ethical responsibilities. A good CSR firm should “strive to make a profit, obey the law, be ethical, and be a good corporate citizen” (Carroll, 1991, p.43) and without simultaneous fulfillment of the four responsibilities, the business should not be characterized as operating within CSR.

A corporation that says it is socially responsible, claims that they are concerned for society's welfare; which also includes the environment, because now days, we are a lot more concerned about our environment and how everything affect it. The corporation will make sure to insure those values within the company and also to its partners. ("Social responsibility in Marketing," 2012 - 1998) Also, if a corporation says it is ethically responsible and it really is, it shows to their customers and partners their integrity

Company Q also shows a lack of concern for the consumer and the community upon whom they depend for their business by delaying for several years to provide a sufficient variety of healthy alternative and organic products. This is despite many years of requests by customers for such products. Moreover, the decision by Company Q management to ignore requests from the area food bank for donation of day-old products and to throw away valuable resources instead because of concerns about the potential for fraud demonstrates a breakdown in connecting good corporate social responsibility and common sense. Having neglected to identify the obvious philanthropic opportunity that presents itself in offering goods up for charity which can

There are also four perspectives of social responsibility that is key as well. The first responsibility is economic responsibility. This is the perspective that says the social responsibility of an organization is to make profits and provide attractive returns on investment. This is an important responsibility to their employees as well as their supplier’s employees because this brings in the profits which is what gives them the money to be able to pay their workers as well as keep the business running properly. The second responsibility is the legal responsibility. This is the perspective that the social responsibility of an organization is to obey laws and public policy. This is also an important responsibility because if the company doesn’t obey the laws and public policy, the state could shut the company down leaving hundreds of thousands of workers jobless. The third responsibility is ethical responsibility. This is the perspective that an organization should respond to the spirit as well as the letter of the law. Just as the second responsibility, this works just like it. Not following this responsibility could shut the business down, leaving many people jobless. The last responsibility is the philanthropic responsibility. This is the perspective that organizations

Advocates of social welfare argue that firms are obliged to act in a socially responsible manner. Dodd (xxx?) also argued that businesses must engage in social services, even at the expense of profits, in order to serve the best interests of employees, creditors, customers, and other stakeholders, as it appears that there exists a positive relationship between social and financial performance (xxx?), and socially responsible business practices affect all aspects of business operations and contribute significantly to corporate productivity and profitability (Website of Business for Social Responsibility). In other words, a corporation should engage with social interests in order to fulfil its social responsibility and to maximise long-run profits.

Anyone who owns public shares in a company has invested hard-earned money into a corporation based upon their perception that the company will be profitable and sustainable. The corporation’s board of directors are then responsible to manage the company in such a way as to increase their share-holders’ investment. For hundreds of years, this attempt to increase a corporation’s worth was done with little or no interest in social responsibility. Until very recently this topic was not very much in the public eye. However, at the moment the global economy is rapidly changing and business transparency is increasing through the accessibility of information across the world. Social and global change is moving faster than ever and progressing

While all companies focus on the needs of their shareholders, those who own the company, the truly extraordinary companies also focus on the needs and wants of the stakeholders. The stakeholders are the associates of the firm that have a stake in or claim on some aspect of the actions, policies and objectives of the business. These people often include customers, employees, local community, suppliers, investors, stockholders and government. Companies that operate with a stakeholder orientation recognize that business and society are interpenetrating systems, in that each affects and is affected by the other. There has been a evolution of social responsibility of today compared to 50 or 60 years ago. In the 1940s corporations had economic dominance and total authority of top management. During the 50s and 60s there were few formal governance procedures restraining management actions. Organizational charity expanded and laws were passed that required safe tools and space for the employees while also fostering diversity in the workplace. The 1970s brought large scale competition mergers and acquisitions and occasionally bankruptcies. The 1980s was a period of simplification small companies more power distributed throughout the company an onus on profitability and sadly more scandals. From the scandals of the past 25 years we have learned a great deal about transparency, liquidity, long-term

Corporate social responsibility is the voluntary stance or set of actions from a corporation that demonstrate a contribution to a better society and a cleaner environment. Corporations are already required to operate within the law, but laws do not always protect all people or individuals who will be affected by the corporation’s actions. In addition to this, it is very common for special interests to play a part in legal decisions through lobbying efforts, so it is assumed to be an additional effort for a corporation to be socially responsible. Being socially responsible essentially comes down to being considerate and calculated in the decision making process, paying attention to the consequence of every action. In the ethical decision making model, there are two particular steps that I believe to be of greater importance than the others. The first would be that of

In the corporate world, it is easy to think that the ultimate goal is to make profits. However, it is this type of thinking that can ultimately lead to the failure of an organization. When a company simply thinks of profits, it is likely to find itself in trouble with the government, with stockholders, and with the public. In today’s world, more so than ever, it is important for a company to thinking about its ethical and social responsibilities to its employees, its consumers, its shareholders, and to the general public. By focusing on ethical and social responsibilities, a company is likely to be able to gain recognition as a good employer, a good investment, and a good company to purchase products and services from.