Nobody downloaded yet

Ethics and Corporate Social Responsibility - Book Report/Review Example

Comments (0) Cite this document
Summary
This report “Ethics and Corporate Social Responsibility” will present a critical comparison of both the narrow and broad view of corporate social responsibility as well as the arguments presented by theorists either in support or against both views…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER93.1% of users find it useful
Ethics and Corporate Social Responsibility
Read TextPreview

Extract of sample "Ethics and Corporate Social Responsibility"

Download file to see previous pages The narrow view separates the role of businesses highlighting that they should only concentrate on increasing monetary returns (Crowther & Aras, 2010). One supporter of the narrow view is Milton Friedman, who highlighted his opinion that corporations should not divert from their principal purpose of making profits. He argued that a diversion from profit making to the participation in social responsibility will present negative effects on the economic system. Friedman had the conviction that individual shareholders, customers, and even employees had the freedom to use their money in promoting social agenda. However, he did not see any reason for corporations to use their funds in support of corporate social responsibility. The narrow view separates the role of businesses highlighting that they should only concentrate on increasing monetary returns (Crowther & Aras, 2010). One supporter of the narrow view is Milton Friedman, who highlighted his opinion that corporations should not divert from their principal purpose of making profits. He argued that a diversion from profit making to the participation in social responsibility will present negative effects on the economic system. Friedman had the conviction that individual shareholders, customers, and even employees had the freedom to use their money in promoting social agenda. However, he did not see any reason for corporations to use their funds in support of corporate social responsibility.  According to Adam Smith who was a strong proponent of the narrow view, corporations did not need to participate in corporate social responsibility ventures. Smith highlighted that the “Invisible hand” comprising of demand and supply forces had the capacity to create favorable conditions in the business that could benefit everyone. The invisible hand argument highlights that each individual in the market system should pursue self- interests. Supporters of this argument believe that the overall outcome of the invisible hand forces results to the wellbeing for all. Other supporters of the narrow view believe that the government should take its responsibility in regulating the activities of businesses (Fraser, 2005). This argument has its basis in the fact that individuals exhibit a selfish and inquisitive nature, which does not create a favorable environment for everyone. Therefore, the government should play a critical role in intervening promptly. It should do so by introducing regulations and laws that ensure that businesses do not misuse their power.  ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Ethics and Corporate Social Responsibility Book Report/Review, n.d.)
Ethics and Corporate Social Responsibility Book Report/Review. Retrieved from https://studentshare.org/business/1855387-ethics-sustainability-and-culture
(Ethics and Corporate Social Responsibility Book Report/Review)
Ethics and Corporate Social Responsibility Book Report/Review. https://studentshare.org/business/1855387-ethics-sustainability-and-culture.
“Ethics and Corporate Social Responsibility Book Report/Review”, n.d. https://studentshare.org/business/1855387-ethics-sustainability-and-culture.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Ethics and Corporate Social Responsibility

Ethics and Corporate Social Responsibility

...? Ethics and Corporate Social Responsibility Since late 1970s, various organizations have addressed business ethics in different ways, as well as the development of codes of conduct, hiring of corporate responsibility managers and training programs of all kinds, introduction of compliant managers and programs, the preparation and dissemination of value statements, and the addition of board-level ethics committees. Studies conducted in 1960s indicated that European-based corporations were a head of their United State-based counterparts in implementing sustainability and...
10 Pages(2500 words)Essay

Business Ethics and Corporate Social Responsibility

...? Business Ethics and Corporate Social Responsibility The concept of Business Ethics The purpose of a modern public corporation is thought to be the maximising of its shareholders’ wealth. Other goals such as serving customers, building great products or providing good jobs are seen as being legitimate business ends only if they increase “shareholder value” (Stout, 2012) . Top business schools teach that maximizing profits and shareholders wealth is the primary measure of managerial competence. Corporate compensation policies including pay-for-performance schemes and stock options have also tended to perpetuate this...
5 Pages(1250 words)Essay

Business Ethics and corporate social responsibility(new)

.... As such, society as a homogenous whole should be tolerant of the behaviours of others even if they do not share the same cultural sense of ethics (Swoyer 2003). Fleischacker (2011) provides comparative literature addressing business values provided by Adam Smith, who suggested that so long as a business provides value to society and its stakeholders, it is justified in securing, first and foremost, the longevity and profitability of the company. In Western countries, Smith’s sentiment of acceptable business practices and ethical behaviours are satisfied through more contemporary investment in corporate social responsibility (e.g. urban renewal and...
12 Pages(3000 words)Essay

Business Ethics and Corporate Social Responsibility

...? Business Ethics and Corporate Social Responsibility of the of the Number: the Paper: Ethics and Corporate Social Responsibility Evaluating Ethics and Corporate Social Responsibility Ethics Ethics deals with the norms and values of the organisation and judge what is right and wrong for the organisation whereas Corporate Social Responsibility (CSR) is about expressing those values by applying different programmes and policies (Jennings 47)....
6 Pages(1500 words)Essay

Ethics and corporate social responsibility

...Business Ethics and Corporate Social Responsibility Introduction Coca-Cola Company was established in 1886 and it has grown to become a leading manufacturer, distributor, and marketers of non-alcoholic beverages (Coca-Cola Company, 1). Moreover, they involve distribution of concentrates and syrups that are used for production of more than two hundred brands of beverages. This Company was stated in Atlanta, where their corporate headquarters are located; in fact, they have grown, thereby venturing into international markets and operating in more than two hundred countries in the around the world. Ethics Published company code of...
5 Pages(1250 words)Case Study

Ethics and Corporate Social Responsibility

...Ethics and Corporate Social Responsibility Introduction One of a corporation's primary objectives is to operate in a socially responsible manner. Our society gives considerable freedom to organizations, both public and private. In return, organizations are expected to function in a manner consistent with society's interests. Social responsibility refers to the expectation that business firms should act in the public's interest. As a matter of fact, businesses have always been presumed to provide employment for individuals and to offer goods and services for clients. But...
6 Pages(1500 words)Essay

STRATEGY, ETHICS, AND CORPORATE SOCIAL RESPONSIBILITY

...Company. There was a need to improve on products as well as come up with strategies that will seek to earn the company a competitive advantage. The management structure is also an issue as people are elected on the basis of friendship rather than on qualifications. This will eventually affect the company as it will discourage investors from putting their investments in Peerless because of the company’s instability. There are some ethical in this case where Ludwig is a dilemma on whether to close down Peerless Company to save the town reputation or make attempts to restore the company. Closing down Peerless will render many jobless as most of them depend on the company for their livelihood. Ludwig knows that closing the...
2 Pages(500 words)Coursework

Ethics and Corporate Social Responsibility Case Study

...Ethics and Corporate Social Responsibility Contents Executive Summary 3 Introduction 3 Main Discussion 5 Q1. Why do you think Best Buy has been able to gain competitive advantage in the retail electronics market while also driving many initiatives to support sustainability? 5 Q2. Do you think the resources that Best Buy is investing to help consumers recycle their old electronic devices is a good investment for Best Buy? 6 Q3. How does Best Buy’s social responsibility effort impact key stakeholders such as employees, shareholders, consumers, and suppliers? 7 Conclusion 8 Reference List 10 Executive Summary Best Buy is a retail...
11 Pages(2750 words)Case Study

Organization Justice , Ethics, and Corporate Social Responsibility

...Winning Practices Winning Practices This article is about the management of ethics in The Exelon Corporation which was a company formed when two electric utility companies merged. It was thus, the duty and responsibility of the ethics and compliance director to take care of the ethical practices and policies that would govern the company. As the merger involved two big companies and ethical issues in such companies is quite common, the ethics director got actively involved in the emphasis on ethics. This was also important because customers bring business to the industry and if the company practices unethically, the customers would be dissatisfied and would take their business elsewhere (Greenberg, 2010). There are many steps... that are...
1 Pages(250 words)Essay

Ethics and Corporate Social Responsibility

...Ethics and Corporate Social Responsibility Topic Social Media and CSR Preparation: According to report presented by Coombs , social media inrecent times has been held responsible for high levels of social media crisis as well as corporate failures. It has been estimated that nearly 50% of the failures have been accounted towards issues related to sustainability or weak CSR activities (Godfrey, Merrill and Hansen, 2009). The case of two companies, Maersk Group and American BP, was discussed to compare the use of social media and its effects on business CSR performance....
11 Pages(2750 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Book Report/Review on topic Ethics and Corporate Social Responsibility for FREE!

Contact Us