Business Ethics: Corporate Social Responsibility

Business Ethics: Corporate Social Responsibility

for many years corporations were only concerned about making money that was the ultimate goal now companies are also concerned about society's welfare corporate social responsibility is a business's concern for society's welfare this means that marketing managers are interested in long term corporate interests and also society's health a new philosophical trend in social responsibility is called sustainability it is the thought that if a company helps society through their business as a main goal then they will reap success companies can look to solve society's problems by creating a product or service to fulfill a need and they will profit and help the world other examples of products made by companies that embrace this philosophy would be makeup creams made from ingredients that are imported from developing companies to help their country's growth another example would be ice cream maker Ben & Jerry's who pride themselves in supporting charities Ben & Jerry's has been donating a full 7.5% of pre-tax profits to different charitable institutions sustainability's forward-thinking revolves around creating new products that in the long run will create improvement over time in society's ills a current example would be a backpack designed with solar panels to charge electronic devices or 100% biodegradable recycled cardboard coffins another way that companies can embrace social responsibility is through a different approach called stakeholder theory this theory central focus is that social responsibility is really giving attention to every stakeholder in the entire company whether it be the employees customers owners suppliers management or the community the following is how each stakeholder would view social responsibility from their company it is a more widespread approach and far-reaching employees want to have a good secure job and excellent wages while management wants happy workers and profits customers expect excellent customer service and high-quality products while the community wants a corporation to pay their taxes offer their citizens good wages and help support the environment by not polluting suppliers want their business to remain Teufel and owners of course when our financial return for an excellent profit the most common reason against social responsibility is that critics feel the main purpose of a corporation is just to make a profit for their stakeholders non profit should be the only institutions concerned about society not a for-profit business critics state that for most companies to participate in a socially responsible way they need to spend more of their firm's money and in the end are costing their shareholders a profit for example if a company is going to import ingredients from a developing nation instead of using a well-known source then the added cost of

23 thoughts on “Business Ethics: Corporate Social Responsibility

  1. We are an HR Analytics company based out of Bangalore . Pexitics stands for People Excellence Indicator Analytics.
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  2. As an economist and a political scientist a business's only reason to survive is to benefit the shareholders it's not to make the environment better it's not to give you benefits it's not to give you a job. It is to benefit the people that invested and story

  3. "for many years corporations were only concerned about making money" that has never been more true than now. I would argue that there is no more social responsibility than there was 10, 20, 100, or a 1000 years ago.

  4. Please i would like to invite you to share this cause anything would help

  5. Nice overview. But, the super thick Philly voice-over accent is a bit odd. Couldn't you use a VO without such a distracting accent?

  6. You did a great job on this topic! Corporate Social Responsibility must be taken very seriously and I was thoroughly impressed with the video.

  7. Here an article on Corporate Responsability in International Law. You might find it interesting:

  8. its not businesses concern of making society better, it comes from demand of society for benefits from existence of the business, so in order to keep profits, growth and good relationship with consumers and society business implements CSR. Basically, it just another business tool from which not only shareholders benefit, but also the other stakeholder groups, such as: customers, employees and etc.

  9. The Argument against CSR is that critics believe that main purpose of a corporation is to make profits for their SHAREHOLDERS not stakeholders. Just a slight but important correction. 

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