Free

Social Responsibility - Essay Example

Comments (0) Cite this document
Summary
Smith ("Benefits of the Profit Motive) himself states that he has “never known much good done by those who affected to trade for the public good” and calls it an “affectation [indeed] not very common among merchants” (159). Is Smith stating that it is okay for…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97.2% of users find it useful
Social Responsibility
Read TextPreview

Extract of sample "Social Responsibility"

1. Smith Benefits of the Profit Motive) himself s that he has “never known much good done by those who affected to trade for the public good” and calls it an “affectation [indeed] not very common among merchants” (159). Is Smith stating that it is okay for companies to ignore the greater good…to ignore responsibility to their common man in order for the profit motive to be increased? Why or why not?
I believe that Smith is saying that doing business is not the same as doing charity, but I think he means to say too that it is possible to do business without harming the public good, because this is also bad for business. When Smith says, he has “never known much good done by those who affected to trade for the public good” and calls it an “affectation [indeed] not very common among merchants” (159), he may be referring to businesspeople who do good so much that they run their businesses to the ground. An example is a baker giving away too much free bread that he becomes bankrupt. Merchants do not want to go bankrupt because they do not want to trade for the public good more than they want to make profits. In addition, Smith does not necessarily say that companies should ignore the greater good in making profits. He emphasizes the importance of trading in making profits, but he does not promote unethical or illegal practices because if the public know about it or if the government catches them, then they will have bad publicity or the government might close their business.
2. What is your definition of social responsibility? Does it fit into Friedmans definition? Why or why not? Do you think businesses have a social responsibility to their fellow man? Why or why not?
My definition of social responsibility is responsibility for shareholders, employees, consumers, communities where businesses operate, and the environment. This does not fit into Friedman’s definition to some extent. My social responsibility definition agrees with Friedman that social responsibility promotes the goal of increasing profits. Staying within the rules of the game can also be aligned with being responsible for employees, consumers, communities where businesses operate, and the environment because laws also protect them in varying degrees. However, how about in communities or countries where fairness and environmental laws are weak or lacking? My definition of social responsibility is proactive in doing what is right for all stakeholders with or without these laws. I believe that businesses have a social responsibility to their fellow man because I agree with Kant that people have duties to do what can be universalized and doing my definition of social responsibility is something that can be universalized because it does not only increase wealth, it also promotes social justice, equity, and sustainability as intangible wealth too. Read More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Social Responsibility Essay Example | Topics and Well Written Essays - 250 words - 2”, n.d.)
Social Responsibility Essay Example | Topics and Well Written Essays - 250 words - 2. Retrieved from https://studentshare.org/social-science/1659215-social-responsibility
(Social Responsibility Essay Example | Topics and Well Written Essays - 250 Words - 2)
Social Responsibility Essay Example | Topics and Well Written Essays - 250 Words - 2. https://studentshare.org/social-science/1659215-social-responsibility.
“Social Responsibility Essay Example | Topics and Well Written Essays - 250 Words - 2”, n.d. https://studentshare.org/social-science/1659215-social-responsibility.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Social Responsibility

Corporate Social Responsibility

...?Corporate Social Responsibility Table of Contents Table of Contents 2 Introduction 3 Discussion 5 Importance of Corporate Social Responsibilities (CSR) 5 Influence of CSR on Organisational Performance 8 Conclusion 13 References 15 Bibliography 19 Introduction Corporate social responsibility (CSR) refers to the concept through which the organisations contribute for the betterment of the society and the environment. It is essentially a voluntary procedure and not necessarily every organisation takes measurable steps in this prospect. The contribution of the organisations towards corporate social...
9 Pages(2250 words)Essay

Social responsibility

...Social Responsibility Introduction Social responsibility is an important issue for all organizations. Nowadays it is widely understood that businesses, whether small or large, have social responsibilities that go beyond what previously was called the ‘economic function’ of businesses (Anderson 15). In the past managers, generally, had only to focus on the economic outcomes of their actions or choices; nowadays managers should also take into consideration and evaluate the social, moral, ethical, and legal outcome and implications of their decisions. In numerous business firms, though, this domain of...
10 Pages(2500 words)Research Paper

Management of Information: Bring Your Own Device (BYOD)

8 Pages(2000 words)Essay

Social Responsibility

...? Social Responsibility of the of the Table of Contents Introduction 3 Social responsibility of corporate organizations 3 CSR practices in UAE 4 Public policy support for CSR in UAE 6 Conclusion 6 References 8 Introduction Corporate Social Responsibility (CSR) refers to practice in which the profit oriented corporate organizations make certain activities to improve welfare levels of the society. In the modern world, CSR has received significant attention from policy makers, corporate decision makers and the general stakeholders of the society. CSR is now established as a set of principles by following which, companies would be able to...
5 Pages(1250 words)Research Paper

Social Responsibility

...? Social Responsibility Introduction Corporate Social Responsibility (CSR) is defined as the constant commitment of the management of the organization to behave in an ethical way so as to contribute to the society and environment along with goodwill enhancement of the organization as a whole. It also helped in enhancing revenue of the organization resulting in amplification of its total profit margin. Due to which, it also helped in improving the quality of standard of the workforces as well as their families and the local society as a whole. It might help in enhancing the reputation and portfolio of the organization in the society thereby amplifying its loyalty within...
5 Pages(1250 words)Research Paper

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)....
1 Pages(250 words)Research Paper

Why Do Muslims Consider Prophet Muhammad a Religious and Political Role Model

2 Pages(500 words)Essay

Social responsibility

...Social Responsibility: Summary of Article and Case Study ‘The Dangers of Social Responsibility’- Theodore Levitt Synopsis Although social responsibility has proved to have a number of benefits, various quarters from the free and individualistic enterprise systems have come out strongly against the concept. All the same, the acceptance of social responsibility has been through voluntary means and not imposed on any individual businessperson. According to Theodore Levitt, the social responsibilities and welfare do not form part of the interests of a particular corporate...
5 Pages(1250 words)Essay

Social Responsibility

...Social responsibility Social responsibility refers to the ability of companies to see the need and maintain a good relationship between business and the ecosystem. That is, every organization must operate on measures that benefit the environment in one way or another. It is upon companies to be responsible enough to take care of the environment in which their businesses operate. It does not only employ to the organizations alone, but to any individual within the environment of economic development. This paper outlines the importance of social responsibility to the company and the environment as it attracts staff, enables...
2 Pages(500 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 Essay on topic Social Responsibility for FREE!

Contact Us