Corporate Social Responsibility : Ethical Responsibility

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Corporate Social Responsibility: Should we, or should we not. Corporate Social Responsibility (C.S.R.) is a theory practiced in the business sphere since fifty years. It refers to the duty of business organizations to adopt certain activities that will benefit the society in some way. Charity, health-awareness campaigns are few examples that a business undertakes to fulfil its objectives of C.S.R. According to this ideal, it is important for various corporations today to undertake such social activities, apart from merely focusing on their objective of profit maximization. But, is it an obligation that is most important than other objectives of business? This thought further leads us to another significant question – In contemporary settings, should corporations be guided by the concept of C.S.R.? “Businesses are owned by their shareholders - money spent on CSR by managers is theft of the rightful property of the owners-This is the voice of the laisser-faire 1980s, still being given powerful voice by advocates such as Elaine Sternberg. Sternberg argues that there is a human rights case against CSR, which is that a stakeholder approach to management deprives shareholders of their property rights.” (mallenbaker.net). This is one of the opinions which is against the concept of CSR which blames this theory for violating human rights of shareholders. Moreover, Lantos (2001), in the article ‘The boundaries of strategic corporate social responsibility’, while in agreement with the
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