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The significance of Corporate Social Responsibility
The significance of Corporate Social Responsibility
The dangers and the benefits of corporate social responsibility
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Moral capitalism can most easily be defined as these corporations; these larger than life entities practice some sort of human quality. This quality is what we as humans consider “moral”. Depending on who you ask these morals vary, but for the most part it means giving back to the community that fuels you. For example if you poison the river by the factory and kill all the towns’ people, you have no one to work in the factory anymore. Given this very basic example I believe that more and more companies should look into adopting forms of this practice. Obviously these fortune 500 companies have one goal in mind, that is to make money, but this doesn’t mean it can’t do things for the workers and the community that it exists in. Look at Jeff Swartz
The free enterprise system is a debatable topic because it allows for competition in the business market, which may or may not work in everyones favor. A good example would be Bill Gates, in which the enterprise system worked successfully for him and helped him become a billionaire. In a free enterprise system, producers decide everything about their products or services, including their prices, ingredients, and what they choose to do with their profits. This also gives freedom to consumers to make their own economical choices. This has allowed businesses to engage in competition, and has been beneficial to many, especially Bill Gates.
In The Human Condition, by Hannah Arendt, the fundamental qualities of human behavior are described and analyzed. These qualities are first described by discussing the different entities present in the lives of Athenian Greeks. This partition of human life into separate units is supposed to be applied to modern American society as well, however, the structure of today's social order differs from that of ancient Greek. These disparities cause the analysis and ideas projected on the human condition to be contrasting as well.
Joseph Heller's early sixties novel Catch-22 is a satirical representation of war and America's bureaucratic system. It is a comical and witty book which gradually seems to become more somber in its depiction of war and human suffering. In my paper I will mainly focus on Milo Minderbinder, one of the two main characters of the book, who as the personification of modern capitalism and human greed in general just like the mood of the book progressively changes from humor to fierce satire.
Sam Steinberg always followed ethical business approach and put emphasis on customer satisfaction. During Second World War, when all the business ventures increased the price of the goods produced using the opportunity of excess demand, Steinberg understood the situation of the buyers, their inability to purchase the goods at higher prices. In war times, there was lack of resources, jobs in the country. The economic situation was declining, which forced Steinberg to sell the products in low prices to all the customers. Hence, he easily gained the faith and dependency of the customers which made his company successful.
The terms “conscious” and “capitalism” are seldom used together; however, John Mackey, the Co-CEO of Whole Foods Market, has started a movement known as Conscious Capitalism that has the power to change the way businesses operate. For years, many vilify businesses due to their reputation of merciless methods of earning profits. In fact, the Merriam Webster dictionary defines capitalism as, “an economic and political system in which a country’s trade and industry are controlled by private owners for profit”. Mackey introduces a new concept and meaning for businesses in his book Conscious Capitalism: Liberating the Heroic Spirit of Business stating that there is a higher purpose for companies than generating profit. Higher purpose, conscious leadership, conscious culture, and stakeholder orientation are the four key tenants of practice to becoming a conscious capitalist company. After attending the trips on the Dallas Study Tour, I was able to witness how various companies operated and how their cultures were aligned with conscious capitalism.
“The Jungle” novel was written by an American journalist/ novelist name Upton Sinclair in 1906. “The Jungle” made a big hit and became his best-selling novel because it revealed so well about the economical and social reality during that time. The book mainly described about how unsanitary the meat packing industry was operated in Chicago and the miserable life of the immigrants going along with the industry. Through the story around the life and family of Jurgis Rudjus, a Lithuanian immigrant who comes to America with the belief to change their life and live in a better condition, Sinclair expresses that “The Jungle” is a symbol of capitalism. Sinclair’s contempt for capitalist society is present throughout the novel, demonstrated in the eagerness of Jurgis to work, the constant struggle for survival of the workers in Packing town and the corruption of the man at all levels of the society. Also, the author promotes socialism as a standard political society to replace capitalism.
Steve Jobs was a college dropouts with no big plans. No one would have guessed that him and two of his friends working in a garage would be the beginning of a revolution in the world of technology. The free enterprise system made it possible for Steve Jobs to revolutionize the world with Apple products.
To begin, capitalism is the economic ideology that everything is primarily focused towards making profit through the production and distribution of a product. In the article “Capitalism: Where Do We Come From?” By Robert Heilbroner and Lester Thurow, they provide insight on how capitalism has changed over the years and the impact it now has in today’s society. “There were no factors of production before capitalism. Of course, human labour, nature’s gift of land and natural resources, and the artifacts of society have always existed. But labour, land, and capital were not commodities for sale” (Para,17). Capitalism has an impact in my life because in the 21st century children are taught in school skills that will benefit businesses, so that they can continue to make a profit through the production and distribution
Michael Moore used comical tactics as a way to appeal to his audience in this piece of literature. Michael Moore’s argument is that capitalism is destroying the nation’s economy rather than helping to develop it. The poor are suffering, while the richer are getting richer. The arguments that Moore used may not be considered tangible by all, but he definitely did have the evidence to support his argument. Michael Moore purpose was to expose this ground breaking issue of the dominance of corporate America through video. He used the web source as a source to get his message across because he knew the internet would be accessible to many people. Moore in this film used the different elements of reasoning to identify the message he was sending to his audience.
Is capitalism morally justifiable? After some exploring and some considerations about whole concept of capitalism, I would have to say that capitalism is not morality justified. Capitalism like any other concept has it’s flaws and it has it’s strengths. As said earlier, the concept of morality is about making the right choices. Capitalism is about the whole concept of free market, but sometimes the free market isn’t the best choices in the long run. Because capitalism has inequalities, it’s an inhuman system, and there’s competition. People might say, and what’s wrong with a little competition? I am not saying that competition is wrong, because it’s not. But sometimes people take it too far and instead of having a friendly competition it turns out to be a war. And we start to think that we need to push people out of the way to get what we want. Then we have a lot of people competiting with each other and if that happens then companies will start to go out of business, which in the end would case the employees to find another job because the company might go out of business. Capitalism also causes inequality and a class division. Instead of being treated equal we would be treating each other with disrespect, depending where we are in the social class system. So where’s the rightness here? I don’t see any. I just see a system that might cause some harm to people in the working class. When I hear about capitalism and if it’s morally justified, my answer would have to be no, it’s not. The ideas about capitalism are great and they make sense, but if we look at it in the long run it’s not. It’s not right to have people treated unfairly and
...ny critics over the years, and we have seen many arguments for and against the use of a free market system. However, I believe along with the authors that without capitalism, America could not be the country it is today. Even though American society has faced many moral issues, it is not the fault of the economic system, rather the fault of the morally inept who take advantage of the system and those participating in it. The authors also develop their argument by bringing up issues that I was not able to fit into this paper such as government intrusion in the free market system, as well as corporate injustice. However, again as I stated before, these are injustices resulting from individuals, not from the core foundation of the system. Capitalism aligns closely with the economic principles laid out in the bible, and because of that it is a morally superior system.
The Communist Manifesto was published in 1848, a period of political turmoil in Europe. Its meaning in today’s capitalistic world is a very controversial issue. Some people, such as the American government, consider socialism taboo and thus disregard the manifesto. They believe that capitalism, and the world itself, has changed greatly from the one Marx was describing in the Manifesto and, therefore, that Marx’s ideas cannot be used to comprehend today’s economy. Others find that the Manifesto highlights issues that are still problematic today. Marx’s predicative notions in the Communist Manifesto are the key to understanding modern day capitalism.
“For what is a man profited, if he shall gain the whole world, and lose his own soul? or what shall a man give in exchange for his soul?” (Matthew 16:26) This verse asks the question how can someone profit or take advantage of the world if they damage or lose their character along the way, what is worth more than one’s soul? This question can help one in determining their ethics by balancing what is right, meaningful, and most important to them. Knowing and understanding one’s ethical values is important on the path towards achieving one’s goals.
... do not co-operate with each other, they become dysfunctional for society and can cause different social problems that led the society toward destruction. Capitalism is a modern economic system, which leave the world upset. The imperative factor of capitalist society is accumulation of wealth that results in converting money into the divine force and diminishes the value of human, morals, and values that distinguish us from animals. The drive for capital cause necessities to turn into commodities, so that, capitalists can make more capital to invest. Thus, the contribution of capitalism can be positive for those who only concern profit but not for the society because it only enhance the materialistic life and weaken the soul that teaches us ethics and morality.
When the problem became serious two main views formed: the “narrow” view and the “broader” view, based on different ideas. The “narrow” view is based on the proposition that corporations have no social responsibility and they have only one main purpose, to make a profit (Friedman, 1970). So corporations should remain socially independent and all conflicts must be solved through the individual responsibility concept. On the contrary the “broader” view states that corporations have social obligations as all existing participants of market, persons and entities are tied together and are mutually dependent. So corporations cannot ignore some serious events or problems, which take place, and must help society, as profit is not their single purpose.