hhh

989 Words2 Pages
bulb-icon

Recommended: business in social corporate social responsibility ch4

What do you understand by social responsibilities of business? Is there conflict between social responsibility and profit maximization?

Companies are usually obliged to comply with two different aspects of the business which are also called dual responsibilities. Those are social responsibilities and profit maximization. The management of the company must be able to combine those two and attain the most effective co-operation between human factors (social responsibilities) and maximum profits available in certain area of business the company operates in. The social responsibility has become one of the key factors of successful business and the concern of the companies to contribute to well-being has raised last few decades.
The social responsibility can be described as ethical intention of the companies who are willing to benefit to the society at large. The idea to fulfill the social responsibility can be easily reflected in employment, where the companies do their best to adapt to the employee´s needs. First of all, the company which settles the business in the local area expects to employ local citizens and not to bring new employees from somewhere else. An important fact to mention is that the company increasing the employment rate in the community has more social responsibilities to follow. The employees should be provided with adequate income to the proportion of their work which makes the company favourable place to work in. More importantly, some companies provide employees with certain benefits, such as transport to and from work, extra days off, sufficient work breaks or vouchers. Employees are paid 13th and 14th salary at the end of the year which makes the company highly appreciated workplace because the employees ...

... middle of paper ...

... manufacture with goods of inferior quality. The companies started to lower down usual standards especially after the financial crisis has started a few years ago. People were dismissed from work, employees were withdrawn some benefits and standard of the products went rapidly down and prices up.
In conclusion, the social responsibility of the company towards the society is a very important part of the business and people are more aware of this fact nowadays. Following the social responsibilities is one of the key points how to adjust stable place on the market and gain loyal customers who would always come back. The companies should make sure their business contributes well to the community, that they are ethical and the society is provided with good quality of life. As well, the companies should protect environment, follow the law orders and keep the profits up.

Show More
Related

  • Evaluation: Ethical Perspectives on Social Responsibility

    1133 Words  | 3 Pages

    The basic definition of social responsibility is that all companies should embrace more than just the focus of maximizing profits, and should have as part of their business model the goal to have a positive impact upon the society in which they operate. (Investopedia, 2014) Some businesses believe that social responsibility can only be applied to individuals and not to a corporation or business entity, and that the social responsibility of business is only to maximize the profits of the company for the shareholders of the organization. By maximizing the profits of a business, society as defined by these companies, is benefiting because the business is successful adding value to the entire society in which the company is operating.

    Read More

  • Ethical Theories

    659 Words  | 2 Pages

    Social responsibility can be defined as “the continuing commitment by business to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as of the local community and society at large” (Mallen Baker, 2004). In addition, social responsibility has been defined differently by various corporate leaders that provide guidelines which impacts how one manages the core business. Social responsibility is an essential part of a business. If managed correctly should strengthen the competitive spirit of the company and provide prosperity to society.

    Read More

  • Company Q Social Responsibility

    786 Words  | 2 Pages

    Social responsibility in business is very important because it goes hand in hand with creating shareholder wealth. A business should strive to increase their positive effects on society and decrease their negative. In the case study we were given we were asked to examine Company Q’s relationship with social responsibility. Company Q is a small local grocery store located in a metropolitan area. After careful review of Company Q it is very evident that their social responsibility is poor and needs improvement. Recently they closed a few stores in higher crime areas blaming the closures on the stores consistently losing money. Company Q has finally begun to offer

    Read More

  • Milton Friedman's Essay Analysis of The Social Responsibility to Increase Profit

    720 Words  | 2 Pages

    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.... ...

    Read More

  • Business Ethics Issues in the Movie Boiler Room

    1086 Words  | 3 Pages

    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).

    Read More

  • Corporate Social Responsibility

    1700 Words  | 4 Pages

    There is a link between corporate social responsibility and the key principles of the stakeholders, which a company should follow to be responsible to its stakeholders. The first stakeholder is environment and the key principle used for it is not damage the environment for example, recycling, dealing correctly with their wastes and emissions. The second stakeholder is the employees. The key principle for the employees is companies providing safe and health working conditions for their staff. Moreover, the employees earn an appropriate salary for ...

    Read More

  • Corporate Social Responsibility Analysis: Wells Fargo

    958 Words  | 2 Pages

    An organization’s Corporate Social Responsibility (CSR) drives them to look out for the different interests of society. Most business corporations undertake responsibility for the impact of their organizational pursuits and various activities on their customers, employees, shareholders, communities and the environment. With the high volume of general competition between different companies and organizations in varied fields, CSR has become a morally imperative commitment, more than one enforced by the law. Most organizations in the modern world willingly try to improve the general well-being of not only their employees, but also their families and the society as a whole.

    Read More

  • The Social Responsibility Of Business Is To Increase Profits By Milton Friedman Analysis

    1760 Words  | 4 Pages

    Milton Friedman presents a compelling argument in “The Social Responsibility of Business is to Increase Profits” by arguing that businesses need to focus only on increasing their profits and integrating social responsibility will only hurt them as a company. Since “only people can have responsibilities” (Friedman 52), Friedman argues that businesses as a whole do not have any type of real responsibilities because there is not a singular person for these responsibilities to fall on. Corporate executives are people as well and may feel they have social responsibilities to society but these “are the social responsibilities of individuals, not of business” (51). In terms of corporations, the businessmen are the ones that hold the responsibility of the company. Friedman argues that the only responsibility these managers hold is to those who own the corporation, the shareholders. If the individuals themselves want to contribute to social responsibility they must do it with their own money in their personal lives, but they should not use social responsibility in

    Read More

  • The Social Responsibility Of Business Is To Increase Its Profits By Milton Friedman

    786 Words  | 2 Pages

    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.

    Read More

  • Coca-Cola Marketing Project

    1631 Words  | 4 Pages

    I also study the strategies of social responsibilities by the company and how company promotes the product with in the targeted customers and common people by promoting the interest of their potential customers.

    Read More

  • Business and Social Responsibility

    1512 Words  | 4 Pages

    Friedman, M., (2007). The Social Responsibility of Business Is to Increase Its Profits. In W.

    Read More

  • Case Study Of Pick N Pay

    1966 Words  | 4 Pages

    Social responsibility – this is where the businesses role goes beyond financial success. The company has to include the providing of a safe work place, housing as well as be aware of health issues. The company also has to involve themselves in environmental awareness as well as community issues (Erasmus et al., 2016. p6-10).

    Read More

  • Importance Of Corporate Social Responsibility

    1000 Words  | 2 Pages

    In the current time of growth and progression, individuals should know that how a business not only flourish but sustain itself. Making profit is one of the main targets of every corporates but it must not be the only one. When an individual builds a company in order to do business, they should be well aware of their contribution towards the society as well as their business and employees in it. It is total strategy of all. We should be able to realize every increment contributes of it. One of the major factors that affect a business is how well it participates in Corporate Social Responsibility. According to (Werther & Chandler, 2006) corporate social responsibility (CSR) refers to a business practice that involves participating in initiatives that benefits the society. In authenticity, there is a whole lot to argue about it. There are no major guidelines that decides either a business is participating in Corporate Social Responsibility; what might be considered a Business practicing CSR to some, can still not be accepted for it by others. CSR may be restrained a term which his highly flexible. This paper will discuss about Corporate Social Responsibility and its

    Read More

  • Essay On Corporate Social Responsibility

    1275 Words  | 3 Pages

    However, there can be more definitions about what Corporate Social Responsibility can be. For example, Corporate Social Responsibility can be the commitment which is continuing for a business to behave ethically and bring to economy the development to improve the workforces’ of the whole society and local community and their families’ quality of life. Corporate Social Responsibility is also known as the obligation of a company to serve the society’s interest and of course its own. With the help of the Corporate and Social Responsibility, social and environmental concerns companies can integrate into their business and stakeholders operations.

    Read More

  • Essay On Business Ethics And Social Responsibility

    853 Words  | 2 Pages

    A company has an economic obligation. It must earn a favorable return for its stockholders in the restrictions of the law. But, corporate social responsibility means that organizations have also ethical and societal responsibilities that go past their economic responsibilities. CSR needs organizations to develop their documentations of their responsibilities to include other stakeholders such as workers, customers, suppliers, local societies, state governments, international organizations, etc. Ethics could be seen as a fundamental component of individual and group activities at the heart of organizations’ errands.

    Read More

More about hhh

Open Document