Corportate Social Responsibility Essay

2156 words - 9 pages

For decades, a certain level of mistrust has been floating around, between businesses and the society. The society questions whether the economic benefits, provided by those businesses, are not leaving any negative consequences on the local community, the society, or even on the environment. Today that issue is still very dominant, and one of the most controversial: corporate social responsibility.Opinions about business's social responsibilities lie mainly between two extremes. At one extreme, there is the Classical View that states that business is an economic institution directed towards profit whose only responsibility to society is to provide goods and services and to return maximum profit. The Nobel Prize winning economist Milton Friedman endorsed this classical view. Friedman said "... there is one and only one social responsibility of business-to use it resources and engage in activities designed to increase its profits... ". At the other extreme, there is the Socioeconomic View that states business is a part of the larger society and, therefore, it has responsibilities other than simply maximizing profits. Some advocates of this view also contend that it is often in a company's financial self-interest to be socially responsible.The topic of corporate social responsibility has been widely argued and debated about because it is becoming an increasingly important concern to the society in which an organization operates in. Businesses worldwide have become more socially responsible, but they still are pursuing economic interests. Economic interests will always remain the main, if not the only, priority for most businesses all over the world. Also, either position in corporate social responsibility might sway the financial performance of the company either positively or negatively.The Classical View holds that management's only social responsibility is to maximise profits. In this case, typically, the company merely cares about making profit without putting any concerns on neither the society nor the environment. This type of company normally puts financial performance as the first priority. Businesses need to recover the money that they have invested in the market, and the fastest way of doing this is of course by profit maximization. When an organization engages in a business, they will face competition from other organizations in the same market. So, for an organization to get an edge over its competitors and stay in business, it has to lower the price of its goods or services. In any case, the company with the lowest price will most likely have an edge in selling its product compared to its competitors. The only way to achieve this is by reducing the cost of doing business by getting rid of unnecessary expenses. In this case, being socially responsible adds cost of doing business. These additional costs will be passed on to the consumers of the product (or shareholders would have to accept a lower return on their investment), and this...

Find Another Essay On CORPORTATE SOCIAL RESPONSIBILITY

Psychological Egoism Theory Essay

2240 words - 9 pages ambiguous on some issues. References Hinman, L. M. (2007). Ethics a Plurastic Approach, 4th edition. New York: Wadsworth Publishing Company. Hugh, L. (1988). The Truth in Psychological Egoism: Reason and Responsibility. New York : Wadsworth. Michael, S. (1978). Empirical Basis for Psychological Egoism Brainstorms. California: Bradford. p72-3. John, R. (1971). The Circumstances of Justice: Egoism in Context. Cambridge, MA: Harvard University Press. Smith, C.M. (1898). Psychological and Political Ethics. New York: Hafner Press. Feinberg, J. (1998). Psychological Egoism in Ethics: History, Theory, and Contemporary Issues. Oxford: Oxford University Press.

How Celtic Folkore has Influenced My Family

1587 words - 6 pages Every family has a unique background that influences the way they live and interact with other people. My parents, who emigrated from Ireland to the States with my three brothers in 1989, brought over their own Celtic folklore and traditions that have helped shaped the way our family operates and lives. One aspect of folklore that has helped shape my family dynamic is the Celtic cross—both its background and what role it has played in our lives

Julia Margaret Cameron

1406 words - 6 pages At a time when women were looked upon as being homemakers, wives, mothers and such the late 1850's presented a change in pace for one woman in specific. Photography was discovered in 1826 and soon after the phenomenon of photography was being experimented with and in turn brought new and different ways of photo taking not only as documenting real time, but also conceptualizing a scene in which an image would be taken. Julia Margaret Cameron will

Evaluation of School Improvement

1403 words - 6 pages The evaluation process should be progressive to incorporate overall planning, implement changes, which contribute to success. In order to focus on school climate and norms, the evaluation design must include the students, instructions, and outcomes to improve communication and building-level concerns to be address in this response. School Climate and Social Norms The school principal, other staff leaders, and personnel set the tone and the

Case Study: The Benefits of Animal Testing

1757 words - 7 pages Nine year old Amy has already had a rough start in life. She was born with an abnormal heart that hinders her everyday activities. Amy is unable to keep up with kids her own age because she often tires out easily. As a consequence, she has very little friends and is often alone. Amy is forced to take different medications everyday just to survive. Amy’s life consists of medicine, doctors, and constant hospital visits. However, Amy is due for a

Myth and Magic: Realism in "One Hundred Years of Solitude"

1531 words - 6 pages “He enjoyed his grandmother's unique way of telling stories. No matter how fantastic or improbable her statements, she always delivered them as if they were the irrefutable truth” (Wikipedia, 2011). Experiences are particular instances of one personally encountering or undergoing something and in these moments of time life changes for the best or the worst and memories are formed. These recollections such as riding your first bicycle, going to

Adiponectin: a Novel Indicator of Malnutrition and Inflammation in Hemodialysis Patients

2384 words - 10 pages Objective Protein-Energy malnutrition (PEM) and inflammation are common and overlapping conditions in hemodialysis patients which are associated with increased risk of morbidity and mortality. Adiponectin is an adipocytokine which is exclusively produced by adipose tissue. Few studies in hemodialysis patients have demonstrated that serum levels of adiponectin were significantly higher in malnourished patients compared to well-nourished ones. The

The Congo Free State: A Legacy of Apathy, Exploitation and Brutality

2298 words - 9 pages Free State, established “In the margins of the Berlin Conference” in 1885, allowed Leopold to “gain international recognition of his possession” which he had begun to take control of since the 1870s. However, while Leopold was securing control of the Congo, the Belgian people were not interested in controlling colonies, as they believed that colonies “Would merely soak up resources that would be better used for social purposes at home.” Thus

Selective Exposition in The Lottery, by Shirley Jackson

1073 words - 4 pages Usually when someone hears the word “lottery” the first thing that comes to mind is a large sum of cash that people compete against highly impractical odds to win. Shirley Jackson’s story The Lottery might imply a similar conception based on the title alone, but the story is filled with unknowns never revealing exactly when and where the story takes place, or why the lottery exists; even what the lottery is isn’t revealed until the very end. Yet

Lightning

1857 words - 7 pages INTRODUCTION I remember when I was a young child; I would always be scared whenever there was a severe storm outside that included thunder and lightning. This was especially true in the hours of darkness, when you could really see the lightning. As I grew older this so-called fear of lightning turned into a fascination for this weather phenomena. One of my most vivid memories of lightning as a young man was when I was flying to Florida, the

Maryland's Ecology and Environment

1130 words - 5 pages Maryland is the 42nd largest state, making it one of the smaller states in America. It is located in the South Atlantic region on the United States eastern seaboard. Prince George's is one of twenty four counties in Maryland. It is also the geographic center of the state. Maryland has a varied climate. The state is home to a variety of different ecosystems. This is also true of Maryland’s environment, which has the Atlantic Ocean on

Similar Essays

When The Bubble Burst Essay

1539 words - 6 pages By the time I arrived state side from my second tour in the Middle East the housing bubble had already burst. I noticed a drastic change in the way that many of my friends and family were living. Several of my friends that worked in real estate had sold their boats and seconds houses. My own stock portfolio had lost a third of its value. My sister and her husband had defaulted on their home mortgage leaving them scrambling for a place to live. I

Phase Diagram Essay

4456 words - 18 pages Introduction: Chemical equilibrium is a crucial topic in Chemistry. To represent and model equilibrium, the thermodynamic concept of Free energy is usually used. For a multi-component system the Gibbs free energy is a function of Pressure, Temperature and quantity (mass, moles) of each component. If one of these parameters is changed, a state change to a more energetically favorable state will occur. This state has the lowest free energy

Revolutionary Work Of Art Essay

1890 words - 8 pages Walter Benjamin emphasizes in his essay, “The Work of Art in the Age of its Technological Reproducibility” that technology used to make an artwork has changed the way it was received, and its “aura”. Aura represents the originality and authenticity of a work of art that has not been reproduced. The Sistine Chapel in the Vatican is an example of a work that has been and truly a beacon of art. It has brought a benefit and enlightenment to the art

Enlightenment Thought In New Zealand Schools

1594 words - 6 pages -directed (Lecture notes, 14 March 2006). Throughout the nineteenth century the role of the government in New Zealand changed. The political ideas of the early nineteenth century were based on classical liberalism. In the twentieth century in New Zealand democracy there were two strands that came about, evolving from the eighteenth and nineteenth centuries. These were Liberal-democracy and Social-democracy. These two political ideas were very the