Describe the 2 views of Corporate Social Responsibility.

One of the most controversial issues that has been widely debated over the last two decades is the corporate social responsibility of organizations. Opinions about businesss social responsibilities lie mainly between two extremes. At the one extreme is the classical view that states business is an economic institution directed towards profit whose only responsibility to society is to provide goods and services and to return maximum benefits to shareholders (Robbins, Bergman, Stagg and Coulter, 2003: 136). The Nobel Prize winning economist Milton Friedman endorsed this classical view. Friedman said the primary responsibility of managers is to operate the business to satisfy the interest of shareholders, and this interest of course is†¦show more content†¦Two leading tobacco policy experts have today accused transnational tobacco companies of corrupting the concept of corporate social responsibility (CSR) by seeking to use it as a means of directing attention away from the dea dly effects of their products and dubious business practices (Collin and Gilmore, 2002). Even though they are considered to be a company that is socially responsible, it is assumed that their products will cause ten million deaths by the year 2030. So, in the long run, the society will actually be worse off from the organizations business practices. Social responsibility is just used as a means to cover up the business practices that otherwise would not be accepted in the society. BATs Social Report is an attempt to regain legitimacy by a company that has become mired in allegations of smuggling, price fixing, collusion with the dictatorship in Burma an exploitation of farmers in Brazil and Uzbekistan (Collin and Gilmore, 2002). So, the social responsibility issue is used more of a cover to protect bad business practice rather than to serve in the best interest of the society. No organization is forced to pursue social interests. Milton Friedman argues that corporate officials have no social responsibility beyond serving the interests of their stockholders As Friedman said, ...there is one and only one social responsibility of business-to use its resources and engage inShow MoreRelatedStakeholders, Categories Responsibilities of Organizations1723 Words   |  7 PagesActivity 3-Stakeholders, Categories Responsibilities of Organizations 1. Describe the basic features that distinguish the four basic forms of business ownership: sole proprietorships, general partnerships, C corporations, and limited liability companies. Ownership of C corporation is represented by shares of the stock, or shareholders, it is the most common type of the business, where ownership to the shareholders offers a limited liability to all its owners. Limited liability companiesRead MoreAnglo American Corporate Social Responsibility1514 Words   |  7 Pagessaid to have responsibility†¦Ã¢â‚¬ , the improvement of the notion of Anglo-American corporate social responsibility (CSR) has rapidly expanded. This essay will review the important concept around Anglo-American CSR, its development and provide a verdict on the extent whether liberalisation, globalisation, and developments in the markets for debts and equity are impacting the tradition view of an Anglo-American public corporation and the nature of its social responsibility. 2. Tradition view According toRead MoreKey Tips For A Generous Financial Donations1495 Words   |  6 Pagesprogrammes f. Support for the local community g. Campaigning for environmental and social change h. An employee-led approach to philanthropy i. Efficient and effective community activity j. Disclosure of environmental and social performance (2)Environment Stakeholders a. Environmental policies, organisation and management b. Materials policy of reduction, reuse and recycling c. Monitoring, minimizing and taking responsibility for releases d. the environment e. Waste management f. Energy conservation gRead MoreAnglo American Corporate Social Responsibility1501 Words   |  7 Pagessaid to have responsibility†¦Ã¢â‚¬ , the improvement of the notion of Anglo-American corporate social responsibility (CSR) has rapidly expanded. This essay will review the important concept around Anglo-American CSR, its development and provide a verdict on the extent whether liberalisation, globalisation, and developments in the markets for debts and equity are impacting the tradition view of an Anglo-American public corporation and the nature of its social responsibility. 2. Tradition view of Anglo-SaxonRead MoreThe Moral Obligation of Businesses Essay1326 Words   |  6 Pagesit productivity. Corporate social responsibility does not only build trust it also demonstrate the glimpse of generosity and help maintaining a status to be a good company in front of the society (Business Spectator, 2011). This report will describe about CSR and moral guidelines and how the two aspects are used to develop sustainability. Discussion: There was always an argument that there is a conflict of interest between being encouraged by revenue and trying to make a social impact. But allowingRead MoreEssay about Social marketing reflects corporate social responsibility1110 Words   |  5 PagesIntroduction This assignment will initially describe social marketing and then indicate how corporations affect stakeholders through companies’ social marketing and responsibility. Following that, the importance and functions of corporate social responsibility (CSR) and social marketing will be demonstrated. Finally, it will explain how organizations reflect CSR and make a short conclusion to indicate the relationship between social marketing and CSR. Social Marketing In the past decades, the marketingRead MoreTeam Building Essay599 Words   |  3 PagesCase Problem – The Philanthropic Team Builder March 29, 2015 Word Count: 502 words Question 1: What type of team building best describes these volunteering activities? The type of team building that best describes the volunteering activities at Molson Coors is the team building aimed at improving relations among team members and task oriented team building. Exactly! Improving relations team building is used to help team members get to know each other better, build trust in each otherRead MoreCase Study 3633 Words   |  3 PagesDiscuss the four components of corporate social responsibility and how they relate to a charitable campaign such as (Product) RED. How does participation in a cause-marketing event contribute to a companys social responsibility? What role does sustainability play? The four components of corporate social responsibility are Economic responsibilities by being profitable to the company, Legal responsibilities by obeying the law or playing by the rule, Ethical responsibilities by being ethical in carryingRead MoreBusiness Analysis: The De Beers Group Essay1143 Words   |  5 Pagestrend of exploitation, and has effectively turned â€Å"national resources to shared national wealth† (De Beers, 2007). De Beer’s presence in Botswana has highlighted the positive impact of corporate social responsibility and admirable business ethics – a feat that is even more impressive when considering that the social practices undertaken by De Beers has also enabled it to increase its profitability. In countries such as Nigeria, Sierra Leone, or Zambia, governments often lack the ability to gainRead MoreBusiness Etics Abstract1475 Words   |  6 Pageslegal and business ethics. In this paper we will consider the factor of ‘business ethics’ as an asset for the organization. Form the business point of view each and every organization tries to achieve the main goal, which obviously is to ‘maximize the profit’. But while doing so these organizations should also consider their moral, ethical and social obligations. If these obligations are neglected, in the long run it would implicate many devastating results, while fulfilling those could prove to be