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Critique of the Concept of Corporate Social Responsibility - Essay Example

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Critique of the Concept of Corporate Social Responsibility

The problems associated with calculating the cost is further complicated by the ideological issue of the redistribution of wealth. The re-channeling of wealth from corporate customers to the public welfare is a de facto tax that is instituted by an unelected private individual (Friedman). This task has been given to the government and any private firm that enters into this practice may end up alienating customers, losing shareholder support, or building resentment among market segments that the firm does not spend the money on. It is not the business manager’s role to seek social justice at the expense of the stakeholders.
The practice of determining what constitutes social good, and what the cost or benefit is will lead to a conflict between the stakeholders. No one in he firm and no other group is in a position to make that decision. ...Show more
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Summary

Corporate social responsibility (CSR) is a vague term that forces a coalition of interests (the stakeholders) to take positive action to promote the public good and as such cannot be approached objectively…
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