Responsibility Value Reason for Responsibility It is arguable that a corporation’s only purpose is to maximize returns to the shareholders of that company. It is widely accepted that corporations should stay within the boundaries of the law. However, the obligation that a corporation has towards society is often vague. A corporation that has greater ethical standards shows responsibility and character to their community to which includes employees, consumers, the environment, and all other stakeholders. New Global Citizens is an organization that receives financial assistance from others. The corporation gives the opportunity for teenagers to solve global challenges. Other corporations have invested money in NGC and other similar organizations to see great and unique rewards. Corporations focus on original tasks: Organizations are expected to be profitable and financially successful in order to sustain themselves. There are many legal expectations that a corporation must follow in almost every part of their operations. These laws include consumer and product laws, environmental laws, and employment laws. (Barnett, Tim. 2010) The responsibilities that many corporations have, go above and beyond the legal aspect of operations. Organizations such as NGC focus clearly on activities supporting the community. Corporations have employees that are trained in finance, marketing, and operations management, but are not trained in dealing with society’s multifaceted problems. If a corporation were to attempt to solve society’s problems on their own, they could possibly make it worse. (Barnett, Tim. 2010) However a corporation that would pay a fee to an organization, such as NGC, sets the problem in the hands of those who a... ... middle of paper ... ...ess/Corporate/US-EN/corporate-responsibility/society/community-investment-education.html Motorola Corporate Responsibility 2010. Retrieved from http://www.motorola.com/staticfiles/Business/Corporate/US-EN/corporate-responsibility/cr/cr-home.html on March 18, 2010. The Social Responsibility of Business is to Increas Profits by Milton Friedman on September 13, 1970, The New York Times Magazine http://www.colorado.edu/studentgroups/libertarians/issues/friedman-soc-resp-business.html Survey: U.S. consumers willing to pay more for Corporate Responsibility from Michael Connor on March 29, 2009 http://business-ethics.com/2010/03/29/1146-survey-u-s-consumers-willing-to-pay-for-corporate-responsibility/ http://www.inc.com/articles/2010/03/dancing-deer-cookies-social-mission.html Josh Spiro, April 2, 2010 http://www.newglobalcitizens.org Courtney Klein, Date n/a
The nonprofit sector in America is a reflection some of the foundational values that brought our nation into existence. Fundamentals, such as the idea that people can govern themselves and the belief that people should have the opportunity to make a difference by joining a like-minded group, have made America and its nonprofit sector what it is today. The American "civil society" is one that has been produced through generations of experiments with government policy, nonprofit organizations, private partnerships, and individuals who have asserted ideas and values. The future of the nonprofit sector will continue to be experimental in many ways. However, the increase of professional studies in nonprofit management and the greater expectation of its role in society is causing executives to look to more scientific methods of management.
Lantos, GP, 2001, ‘The boundaries of strategic corporate social responsibility’, The Journal of Consumer Marketing, vol. 18, no. 7, pp. 595-639.
It's difficult not to be cynical about how “big business” treats the subject of ethics in today's world. In many corporations, where the only important value is the bottom line, most executives merely give lip service to living and operating their corporations ethically.
Windsor, D. (2001). The future of corporate social responsibility. International Journal of Organizational Analysis, 9 (3): 225-256.
Schnietz K., Epstein, M. (2004) Does Corporate Social Responsibility Pay Off? Graziadio Business Review. Retreived May 18, 2014, from http://gbr.pepperdine.edu/2010/08/does-corporate-social-responsibility-pay-off/
Bibliography:.. Works Cited Friedman, Milton. A. The Social Responsibility of Business Is to Increase Profit. N.P. Santayana, George.
“There is only one and only one social responsibility of business- to use its resources and engage in activities designated to increase its profits so long as it decides to stays within the rules of the game, which is to say, engages in open and free competition without deception or fraud.”
The world is getting more complex and problems are springing up as it is increasingly getting integrated and interconnected (Maak and Pless 2009). The authors claim that the arising problems cannot be solved by communities, governments and NGO’s alone. Therefore in order to build a sustainable future, the public, private and non-profit organisations have to identify their distinct roles and help tackle the pressing problems facing the world since they have always played interlocking roles.
Burke, L., & Logsdon, J. M. (1996). How corporate social responsibility pays off. Long range planning, 29(4), 495-502.
Friedman, M. (1970). The Social Responsibility of Business is to make Profit. New York Times
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.
Friedman, M., (2007). The Social Responsibility of Business Is to Increase Its Profits. In W.
There are several beneficial qualities that corporations should have, including ethics, morals and values. These qualities can make a corporation more valuable, especially when they involve helping others. It is important for organizations to establish ethics, and improve society. There are several ways in which an organization can assist with improving humanity. In the business world this is referred to as Corporate Social Responsibility or CSR. This concept will be defined, and discussed in the summarization of a CSR article. The importance of the article will also be discussed.
Management’s only social responsibility is to maximize profits (create a financial return) by operating the business in the best interests of the stockholders (owners of the corporation). Expending the firm’s resources on doing “social good” unjustifiably increases costs that lower profits to the owners and raises prices to consumers.
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.