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Social responsibility of a business organization
Business ethics and social responsibility quizlwt
Business ethics and social responsibility quizlwt
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Social responsibility is the business’s concerned for the welfare of the whole society (Nickels et al. 95). Sometimes the news reports a lot of information that pertains to the social issues or lack of social issues companies are facing. People’s view on companies may start to change and they may see those companies as having a negative impact on society. What a lot of people don’t know is that their view on the situation is at most times wrong. For example, there are companies that have a program which allows their employees to work for a non-profit organization for up to a year, while still receiving full salary benefits and job security. In a study conducted by a group called Students for Responsible Business two thirds of the students surveyed said they would take a lower paying job so that they may work for a socially responsible company. When the same students were asked to define a socially responsible company it was difficult for them to explain. It appeared that even those who wanted to be socially responsible can't agree or does not understand what it involved. In an article titled “Putting Customers Ahead of Investors” John Mackey argues that in order for a business to be successful they have to put their customers first (194). He believes that without the customers purchasing the product and creating a profit for the business, there would not be a business in the first place. Not all business owners have the same ethics of those of John Mackay. In an article titled “Put Profits First” T.J. Rodgers argues that putting customer first is good business (197). In his business world what is important making money. He believe that in making money his investors and shareholders will be able to profit while continuing to in...
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... it regardless of who pays for it. The trick for companies is to find the right public good that would appeal to the target market. Many American businesses are demanding social responsibility from their International suppliers by making sure the suppliers do not violate U.S. human rights and environmental standards (Daft and Marcic103-4).
Works Cited
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Daft, Richard L, and Dorothy Marcic. Understanding Management. Fort Worth: Harcourt
College Publishers, 2001. Print.
Nickels, William G, James M. McHugh, and Susan M. McHugh. Understanding Business. Boston, Mass: McGraw-Hill, 2002. Print.
Rottenberg, Annette T, and Donna H. Winchell. The Structure of Argument. Boston: Bedford/St. Martins, 2012. Print.
Brief Guide to Argument. Ed. Sylvan Barnet and Hugo Bedau. 8 ed. Boston: Bedford/ St. Martin’s, 2014. 125-128. Print.
Rottenberg, Annette T., and Donna Haisty. Winchell. The Structure of Argument. Boston: Bedford/St. Martin's, 2009. Print.
Crusius, Timothy W., and Carolyn E. Channell. The Aims of Argument: A Text and Reader. Boston: McGraw-Hill, 2003. Print.
To supply the wants and needs of a consumer, society entrusts wealth-producing resources to the business enterprise.” (Santayana, George. Is The Tyranny Of Shareholder Value Finally Ending? So before we go into greater detail on the different perspectives related to social responsibility, one might question the meaning of social responsibility. It is generally agreed that social responsibility is defined as the business obligation to make decisions that benefit society.... ...
* The Aims of Argument. 4th ed Ed.Timothy W. Crusius and Carolyn E. Channell. New York:McGraw Hill,2003, 352-355.
Every business has a social responsibility toward society. That means to maximize positive affects and minimize negative affects on the society. Social responsibilities includes economic-to produce goods and services, that society needs at the price, that satisfy both-business and consumers, legal responsibility-laws that business must obey, ethical responsibilities-behaviors and activities that are expected of business by society, but are not codified in the law, philanthropic responsibilities-represent the company’s desire to give back to society (charietys, volunteering, sponsoring).
Ciulla, J. B., Martin, C. W., & Solomon, R. C. (2007). Is "The Social Responsibility of Business... to Increase Its Profits"? Social Responsibility and Stakeholder Theory. Honest work: a business ethics reader (pp. 217-253). New York: Oxford University Press.
The corporate social responsibility is a commitment by a business to contribute to economic development while improving the quality of life for employees and their families’ as-well as contributing to the society. Walmart is a well-known company that offers customers the items they want and need at a low cost, with nearly 4,000 stores in the United States. According to the Fortune 500, Walmart was ranked number 1 in 2015. Just like any other superstore Walmart needs to continue the use of social responsibility by recreating a relationship between business and the community especially if they want to dominate the competition in 2016. The use of sustainability, strategic philanthropy, causing market, shared values, stakeholders and global perspective will help readers understand the purpose of social responsibilities in the corporate world.
The article “The Social Responsibility of Business is to Increase its Profits” is written by a famous economist Milton Friedman. Friedman in this article implies that shareholders are the main drivers of the corporations and he believes that it is to them corporations must be socially responsible to. The goal of any corporation is to maximize profits and return the portion of these profits to shareholders for investing in the corporation. The shareholders can themselves decide which social causes to take part in rather than assigning a corporate executive to decide on their behalf. Friedman argues that a corporation must have no social responsibility to society because its only concern is the increase profits for itself and its shareholders.
Tracey, W. R. (1994). Human resources management & development handbook. Amacom books. Retrieved from EBSCOhost.
Covey & Brown (2001) “the role of business in society has progressed over the years, from being primarily concerned with profit for sharehold¬ers to a stakeholder and community approach with a focus on corporate social responsibility”
Friedman, M., (2007). The Social Responsibility of Business Is to Increase Its Profits. In W.
McHugh, J. M., McHugh, S. M., & Nickels, W. G. (1999). Understanding business. (5th ed.). New York: McGraw-Hill.
While the concept of an individual having responsibility is commonly recognized, modern views have lead to the emerging issue of corporate responsibility. Business Directory.com defines corporate social responsibility as, “A company’s sense of responsibility towards the community and environment (both ecological and social) in which it operates. Companies express this citizenship (1) through their waste and pollution reduction processes, (2) by contributing educational and social programs, and (3) by earning adequate returns on the employed resources.” But such a concept has been much disputed since at least the 1970’s.
Business ethics and social responsibility are two concepts many individuals believe go along together for corporations in the business environment. Business ethics are the moral values a company uses to ensure all employees action in a standard manner when completing business functions. Social responsibility is typically a conceptual theory that governments and the general public hold, believing that businesses should not conduct themselves in a manner counter to cultural or societal norms. The connubial of these concepts happens when companies introduce a written code of ethics to demonstrate that the company only acts in its greatest interest so long as it does not damage the company’s social responsibility.