Corporate soical responsibility CSR

College
Essay
Miscellaneous
Pages 5 (1255 words)
Download 0
Corporate social responsibility (CSR) can be defined as the "economic, legal, ethical, and discretionary expectations that society has of organizations at a given point in time" (Carroll and Buchholtz 2003) The traditional view about the objective of any organisation is that the organisation's primary responsibility is towards the owners or shareholders…

Introduction

The objective of this paper is to discuss the responsibilities as perceived by Milton Friedman (1970) and to counter his views by attributing the different view points of for and against the businesses assuming social responsibilities.
The economic responsibilities of a business organisation covers the expectations of the society that the organisations will manufacture goods and services which are needed by the customers and offer these goods and services to the customers at reasonable and affordable prices. The organisations have the additional responsibility of functioning more efficiently to be more profitable keeping the interests of the shareholders in mind (Carroll A.B, 1979).
The legal responsibilities of the business organisations focuses on the behaviour of the organizations to follow the various laws and regulations framed by the government with respect to the monitoring of the competition among different business entities. These regulations may relate to the rights of the consumers and product quality, environmental laws and employment laws concerning the conduct of the business. In 2003 Schwartz and Carroll further sub-divided the legal domain. ...
Download paper
Not exactly what you need?

Related papers

corporate responsibility
The chief business drivers are:…
Corporate Ethics & Corporate Social Responsibility
But the policy of the government to increase private participating in the education sector has set off a controversy with some sections of the society welcoming it while others have raised concerns over it. This paper is a study of corporate social responsibility in the context of increasing privatization of schools in the country. It also takes a look at whether education can be equated with…
Corporate Social Responsibility & Corporate Engagement
Corporate social responsibility, though very important, may rarely come without a serious concern for better financial performance or increased market share. In other words, studies reveal that managers are more likely to opt for investment in social ventures if they are certain of monetary gains. Since in most cases social responsibility is closely linked with better financial performance, thus…
Corporate soical responsibility CSR
The objective of this paper is to discuss the responsibilities as perceived by Milton Friedman (1970) and to counter his views by attributing the different view points of for and against the businesses assuming social responsibilities.…
Corporate Social Responsibilty (csr)
Instead of these hiccups its business as usual for the companies and Chinese government because of the foreign exchange revenue. Since the citizens didn't come under the stakeholders list companies ignored their protests. CSR should always be a part of corporate strategies that shows social responsibilities are as important as profit maximisation.…
Corporate Social Responsibility: Pressures
The challenges presented are a daily concern for those in charge of corporations. Indeed, corporate directors and officers can no longer concern themselves with simply maximising wealth for shareholders. Reacting to a variety of pressures, they must now account for broader social demands and sharpened public expectations. The field of Corporate Social Responsibility is now a fundamental one in the…
Corporate Social Responsibility
Corporate Social Responsibility …