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Corporate Social Responsibility

Introduction Over the past decades, there have been increasing concerns from the public that many businesses have little concern for the consumer, care nothing about the deteriorating social order, and are indifferent to the problems of the environment and minorities. What do business and ethics have in common? Is ethical behavior expected and rewarded in the business world? Is it sufficient as a businessman to manage business as long he comply government regulations? Or basically, what is the purpose of the big business organization? These concerns are often related as what social responsibilities have. Is there a social responsibility of business? This question is asked many times in a variety of ways, with just as many answers. Most of the debates focused on the two extreme classical and socioeconomic views of social responsibility. The classical view holds that corporate social responsibility is to maximize profit (Friedman, 1970). Opposing to such view is the socioeconomic view of social responsibility. Theorists such as R. Edward Freeman (1984) supporting such view believe ‘that business owes something back to the society that supports t, and that this debt is greater than the debt of the individual members of society’. Executive Summary Body Social responsibility is defined as a business firm’s obligation, beyond that required by the law and economics, to pursue long time goals that are good for society. Over the decades, there have been numerous controversial reports of social and ethical issues business organizations faced. A few of the visible examples have included accusations against H.B. Fuller Co. that it has been selling glue in Honduras that has been abused by the Honduran street children for glue sniffing, lawsuits against Dow Corning for its sales of defective silicone breast implants, and accusations and lawsuits against the tobacco industry for manufacturing and marketing what people consider...

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Corporate Social Responsibility. (1969, December 31). In Retrieved 14:05, September 21, 2014, from