Views on Corporate Social Responsibilities - 2056 Words

Corporations practicing stakeholder management will be more sustainable. Discuss. Introduction The perceptivity of sustainability is both in the sense of achieving long-term success and as survivability of a corporation (Zink, Steimle amp; Fischer 2008). Dunphy, Griffiths and Benn (2003) conceive corporations as channels of social purpose, constructed within society to attain useful social objectives. Henceforth, corporate social responsibility commits a significant role towards the sustainability of corporations. Both corporate social responsibilities and sustainability, and its related concepts influence all aspects of business. Chandler and Werther (2010) acknowledge the understanding of corporate social responsibilities as an†¦show more content†¦(Crane et al 2008) Despite over three hundreds billion in revenue and over ten billion in profits in 2007, Walmart with the conception to provide the best for consumers, dismissed the ethical customs towards its employees and stockholders. On top of that, in order to build its reputation, environmental concerns claimed w ere put aside. Though, Walmart is now sustainable and has picked up itself since then, consumers are still very concern and protesting against Walmart’s corporate social responsibility. For these reasons, corporations with classical governance are fundamentally associated with negative intentions. The lack of empirical evidence in agency theory, the contemporary view on corporate social responsibilities and its stewardship theory will be discussing below. Contemporary View on Corporate Social Responsibilities The success of the corporation in corporate social responsibilities demonstrates how well it has been able to influence stakeholder concerns while executing its business model. Carroll relates corporate social responsibility into a four level pyramid – economic, legal, ethical and philanthropic responsibility, where his viewpoint is a hybrid between the classical and stakeholder view on corporate social responsibilities. (Chandler amp; Werther 2010) Abreast theShow MoreRelatedViews on Corporate Social Responsibility Essay1005 Words   |  5 Pages Corporate Responsibility 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, â€Å"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 andRead MoreFriedmans View On Corporate Social Responsibility1775 Words   |  8 PagesFriedman’s View on Corporate Social Responsibility The answer to the questions of Why does a business exist? and What purposes does/should it serve within society? are not agreed upon by all. The concept that companies having social obligations beyond their economic benefit is controversial (Chandler Werther Jr., 2014). This paper will briefly examine the viewpoint of the well-known economist, Milton Friedman, whose assertions have been very influential in the debate surrounding corporate social responsibilityRead MoreDescribe the 2 views of Corporate Social Responsibility.2548 Words   |  11 Pagesthe 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 winni ng economist Milton Friedman endorsed this classical view. FriedmanRead MoreIn Response to Friedman’s View of Corporate Social Responsibility946 Words   |  4 PagesThe Social Responsibility of Business is to Increase Profits in the New York Times magazine was filled with many assertions that placed him as a bulwark for a growing conservative movement who felt a vindication for the free market mechanism and skepticism for the role of government. However, while reading Friedman muse over the social responsibilities of businesses, one cannot help but notice the emergence of a deeper philosophical thought that aligns much more closely with the liberal views of yesteryearRead MoreWhat Is Moore s View Of Corporate Social Responsibility1563 Words   |  7 PagesWhat is Moore’s view of corporate social responsibility? After GM began to announce that the company will be closing it’s location in Flint, Michigan and will be moving down to Mexico the whole city of Flint began to deindustrialize. About half of Flint was left unemployed. Due to a lot of people losing jobs, primarily from the GM company, more and more people were being evicted from their houses and going on welfare. Because of the outsourcing it lead to Flint becoming deindustrialized. A lot ofRead MoreThe Contrasting Views of Milton Friedman and Ralph Nader on Corporate Social Responsibility2452 Words   |  10 PagesCorporation is a legal entity made of natural persons or other legal entities that holds legal identity within the society. Corporate social responsibility is the duty of a corporation to create wealth in ways that avoid harms to, protect, or enhance societal assets. The idea of Social Responsibility interrelates the obvious interrelationship between business corporations, government and American society, is based o n the fundamental idea that the corporations have duties that go beyond carrying outRead MoreArguments for and Against Corporate Social Responsibility1004 Words   |  5 PagesWhat is corporate social responsibility? Give arguments for and against social responsibility? Ans. Social Responsibility Social responsibility can be defined as: â€Å"A business’s obligation to follow goals that are good for both organization and society in the long-term, and are not required by law.† Corporate Social Responsibility The term corporate social responsibility came in to common use in the early 1970s. It means the duty of an organization towards society in order to prove itselfRead 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 More: Critically Evaluate Corporate Social Responsibility as an Ethical Tool Basing Some of Your Argument on the Toyota Case Study1711 Words   |  7 PagesWhat Corporate Social Responsibility is Corporate Social Responsibility can be defined has an obligation beyond that required law and economics , for a firm to purse long term goals that are good for the society. This entails the continuing commitment by business to behave ethically and contribute to economic development while improving quality of the workforce and their families as well as that of the local community and society at large. Bhatia (2004) defined corporate social responsibility as aRead 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 to