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Social Responsibility - Research Paper Example

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It is significant for managers to place the company’s interests over their personal interest because in this manner, the company is in a…
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Extract of sample "Social Responsibility"

Social responsibility Social responsibility Placing company’s interest over personal interest Social responsibility is the abilityof a company to conduct its business in an ethical manner and in the best interest of the community. It is significant for managers to place the company’s interests over their personal interest because in this manner, the company is in a position to respond positively to emerging societal expectations and priorities. If personal interests are given first priority, it will result in conflict of interest between managers and employees thus affecting the performance of the company (Porter & Kramer, 2007). Social responsibility is very vital in the creation of wealth by a company in that if managed properly it can improve the competitiveness of the business and maximize the value of creation of wealth to the community. With the growing public awareness and desire for socially responsible businesses, it is significant to note that companies consider planning for future socially responsible business operation.
Ethics and social responsibility
Customers expect organizations to operate in a social responsible and moral way. Many Organizations have developed code of conduct that guide the behavior of their employees. Therefore, they have to work with customers to produce quality products that are in line with the customer’s desires and expectations. Further, organizations have to offer customers free access to data concerning their operation. Social responsibility and code of conduct are created with the recognition that every activity that a company do is connected with their work (Paine, 2008). Organizations should ensure that whatever activity they do, does not contravene the interest of the society.
Acceptance of whistleblowers
It is significant for organizations to accept whistleblowers because it helps in unearthing wrongdoing. Further, if organizations fail to accept internal whistleblowers, much damage can be done to the organization. Therefore, organizations should develop programs that allow employees to talk about illegal and unethical issues thus making organizations more socially responsible to the actions. Whistleblowers are advocates of the society since they make the organizations accountable in everything they do.
Engaging in philanthropy and its place in the business world
Corporate philanthropy makes businesses more responsible by giving back to the society. It helps in raising awareness to the society about the company’s desire to help the society. Philanthropic activities make organizations help those in need.
Positive and negative effect of social responsibility
Social responsibility benefits both the employees and the company, since it broadens their experience and assists them in creating new ideas and skills via philanthropic projects (Kotler & Lee, 2004). More so, it develops positive values in the workplace since employee’s skills have a great impact on the society. Social responsibility can strain the company’s resources because it can engage in societal activities that are beyond its financial capability.
Environmental, educational and hospitality social responsibilities have a significant effect on organizations. Therefore, organizations should evaluate their prospects for social responsibility using similar frameworks that direct business choices, they would realize that social responsibility could be much more than a cost or a charitable action as it can be a source of innovation, competitive advantage, and opportunity to invest more in society.
References
Kotler, P & Lee, N. (2004). Corporate social responsibility: Doing the most good for your
company and your cause. New York, NY: Wiley.
Paine, L (2008). Ethics: A Basic Framework. Harvard Business Review.
Porter, M & Kramer, M. (2007). Strategy and Society: The link Between Competitive
Advantage and Corporate Social Responsibility Harvard Business Review. Read More
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