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With reference to your own research, do you think that the ability of a business to act successfully in a socially responsible manner is mainly determined by the products it produces - Essay Example

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Corporate Social Responsibility (CSR) is an ongoing commitment of an organization to act ethically and contribute to the economic well-being (Burke & Logsdon, 2005). It aims at enhancing the quality of life of the employees, their families, local community, and the public as a…
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With reference to your own research, do you think that the ability of a business to act successfully in a socially responsible manner is mainly determined by the products it produces
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"With reference to your own research, do you think that the ability of a business to act successfully in a socially responsible manner is mainly determined by the products it produces"

Download file to see previous pages Companies that value defined corporate social and ethical behaviors tend to do better and gain more profits than those that neglect such responsibilities. In the past, many business organizations did not consider it necessary to take care of their workers, community, and other stakeholders as long as they were making profits and growing. However, recent years have witnessed businesses starting acting socially responsible. The increased competition brought about by technological development and other factors cannot allow a company to neglect its social responsibilities. The nature of products that a business produces determines to some extent the degree of corporate social responsibility that a firm upholds.
The views of stakeholders and customers on a particular product, as well as its demand, will significantly determine the extent to which a firm acts successfully responsible. For instance, products such as petrol and tobacco may not be friendly to the society in some ways. The companies that produce such products thus always combat their adverse influence on the society. The British Petroleum (BP) Company oil products inherently harm the environment and hence the society, despite the company upholding various social responsibilities. The company failed to act environmentally responsible in a successful way when almost 210 million gallons of oil spilled into the Gulf of Mexico. The failure of the enterprise to act socially responsible was mainly due to the nature of the products it produces. Extraction, purification, transportation and storage of oil call for complex and delicate procedures to reduce chances of adverse environmental effects. Customers who buy petroleum products from BP do not concern themselves with the environment since they are buying products that possess negative externalities. Consequently, it reduces ...Download file to see next pagesRead More
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