Should Corporations Be Socially Responsible?

Issue: Should corporations be socially responsible or just solely profit driven? Bibliography Ayn Rand. “the anti-industrial revolution” from the new left: The Anti0Industrial Revolution, Penguin Group New Zealand, Limited, 1996, 127-151 Joel bakan. “The Corporate rise to dominance” from The Corporation: The Pathological Pursuit of Profit and Power, Simon & Schuster, 2005, 5-27 John Steinbeck. “ The Grapes of Wrath: Chapter 5 “from The Grapes of Wrath, Josef Weinberger Plays, 2008,

now requires corporations to take on a new role, social responsibility. Corporate social responsibility is a corporation’s initiative to monitor and ensure compliance with the law, ethical standards, and norms. It can also be defined as corporation’s actions that further social good and go beyond the interests of the firm in order to make the world a better place. Essentially a corporation should embrace the idea of corporate citizenship, the idea that businesses are socially responsible for meeting

which is the belief that “corporations owe a greater duty to their communities and stakeholders” by having a “social conscience.” This, among other things, includes being environmentally responsible, contributing to non-profit organizations, and eliminating discrimination. Friedman argues that "only

J. Klonoski believe corporate social responsibility to be a “cloak for actions that are justified on other grounds rather than a reason for those actions” (Friedman, 1970). Throughout this essay we shall explore the ways in which adopting a socially responsible approach to business strategy and operation can affect a businesses ability to maintain competitive advantage in a market and how the adoption of this strategy can lead to a businesses downfall or success. Corporate social responsibility is

Some corporations do not have a clear understanding on what the public really wants and what the society expects from a company (Mohr, Webb, & Harris, 2001). Microsoft knew exactly what the society wants to see regarding its social behavior. The organization is acting in a socially responsible way, by beginning a process in which the company goes completely carbon neutral across all of the company’s operations. Furthermore, each business unit will be responsible for its behavior. If the process fails

citizens." With each new "Enron" managers of similar corporations are suddenly placed in the spotlight, causing plans to be put into action to create a more socially responsible company.

It is because for a business to continue as going concern, the business have to obey the law and be profitable. However, being ethically and philanthropically responsible can also affect the businesses apart from economic and legal factors. The responsibilities of multinational corporations (MNCs), instead of small or medium size corporations, will be the main focus of this paper. It is assumed that the MNCs currently have no difficulties in discharging their economic and legal responsibilities. Thus

so one wonders precisely how this concept is relevant to his thoughts on the duties of corporations. The answer is quite simple: for Friedman, the “divine law” that warrants a teleological suspension of the ethical is the accumulation of wealth. In order to accumulate wealth, the ethical obligations of all persons involved in a corporation can be suspended under the pretense that they together form a corporation that is and ought to be amoral and profit-hungry. I am being somewhat tongue-in-cheek

enlarge their business from other states. To do that, they should build another factory with facilities helping reduce negative impact on environment. NBB could be uncomfortable with that because it would cost a lot. So NBB should have to build less energy efficient facilities than now. However, customers expect same social responsibility activities that NBB does now even though NBB enlarge the business. If they enlarge their business, they should care a lot of thing as I mentioned before. So maintain

Mohr, L. A., Webb, D. J., & Harris, K. E. (2001). Do Consumers Expect Companies to be Socially Responsible? The Impact of Corporate Social Responsibility on Buying Behavior. Journal Of Consumer Affairs, 35(1), 45. This article examines whether or not corporate social responsibility affect purchasing decisions by reviewing surveys and implementing an experiment. Afterwards, researchers examined the data to determine if corporate social responsibility affects consumer behavior. Both methods were integral