Organizations should engage in socially responsible behavior in order to meet international rules and regulations, human rights doctrines and environmental laws. The law is a guarantor of social stability. The ethical and moral law provides for collective safety and security…
And often the law demonstrates our imperfections and uncertainties. Socially responsible behavior is crucial for companies because they, above all, should embody social principles and ideals that must not be violated easily or at all (Beauchamp & Bowie 2003).
Organizations should engage in socially responsible behavior because it is a core of business and fair economic relations. We could not live in a community in which taking what one wants had no consequences. So the socially responsible behavior based on law is both a set of structures for social stability and a set of moral guideposts. Individuals rarely cross the border from legal to illegal behavior. But crime is a fact of our everyday life. Organizations should engage in socially responsible behavior because it drives their actions and strategic directions. "Establishing CSR allows a firm to take corrective action by punishing employees who do not comply with company standards and rewarding those who do. For instance, precepts such as 'do not give wrong information ..., do not look for reciprocity" (Boatright 1997, p. 54). When a man assumes responsibility for managing the marketing behavior of a large corporation, he is dealing with every business law of the land, from antitrust to post office regulations. Socially responsible behavior is a framework of business activities and long-term relations.
2. Friedman once said 'The social responsibility of firms is to make a profit' (Friedman 1970). Critically evaluate this view given the challenges faced by organisations today to manage a variety of stakeholders.
Friedman's statement is based on the unique nature of business and trade relations. The primary aim of any corporations is to make a profit and increase revenues. A company cannot exist without financial resources and marketing activities (even a non-for-profit organizations need financial donations and giving). For many companies, adoption of social responsibilities is no longer a matter of option for major enterprises if the business is to be relevant to the new social progress concerns and social value changes. The business concept offers a conceptual framework for integrating the firm's relationship to its ultimate environment. The main problem is that organizations cannot use personal gains and profit maximization priorities dealing with diverse stakeholders. Friedman is right that social responsibility of a firm of a profit but any company operates in a complex environment and becomes a part of this environment. Companies are forced to follow ethical and moral values as an extension of traditional management and marketing concepts with redefinitions of mission, service, consumer, product, and profit (Boatright, 1997). Companies are obliged to care for the public welfare, especially the interests of shareholders and other "owners" of corporate property, by telling the truth and by resisting unethical propositions. The principle is veracity (truth telling); the assumption about consequences is that airing a grievance will lead to conflict resolution and that all parties, including society per se, will be better off if legal and moral norms are adhered to. The capacity to reflect seems quite limited in this case. The responsibility of business is to manage variety of stakeholders including employees, customers and community. Even if there is a conflict between professional responsibilities ...
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