Unethical And Socially Responsible Business Actions

1080 WordsFeb 6, 20175 Pages
1. Identify and discuss illegal, unethical, and socially responsible business actions in the news. There are many illegal, unethical, and socially responsible business actions taking place. When something is illegal it means that it is forbidden by law. While many love the convenience and simplicity of Uber, the business model has been criticized as illegal. Uber treats its drivers as independent contractors and Uber should not be allowed to set prices, which is called price fixing and is illegal. They have been challenged numerous times and are at risk of being found guilty of antitrust practices. An unethical person is a person who lacks morals and principles. Wells Fargo & Co had an incident recently where members of their company were…show more content…
Ethical responsibilities are the right thing to do for society as well as the business. Building customer relationships and a positive public image is key to corporate social responsibility. Lastly, philanthropic responsibilities are behaviors and activities that benefit society. Corporations should participate in the community and make efforts to improve the quality of life. The argument against corporate social responsibility is corporations have a responsibility to maximize the present value of the firm. Shareholders invest in the company and all decisions should be made to maximize that investment. The sole responsibility of a business is to increase profit and organizations should only focus on social responsibility when it increases the company’s profitability. I agree with corporate social responsibility because there are many positive things that a successful corporation can achieve. Profit is very important, however, there are ways they can benefit society and the environment. Simply complying with governmental regulations is doing the bare minimum. Corporations should be motivated to go above and beyond to benefit society. According to Smithfield, “McDonald’s and Walmart, discontinue the practice of using gestation crates to house its sows” (Bateman, Snell, & Konopaske, 2009). This can be through social programs to help their local community, through making decisions that are environmentally friendly and through an infinite number of socially
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