The Importance Of Corporate Social Responsibility

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Fleming and Jones, in their book, The end of CSR, fundamentally question the existence of Corporate Social Responsibility because they think it ‘never really began’ (Fleming and Jones, 2013). The reason for the authors’ abovementioned stance is highlighted in the quote where they assert that ‘social value is subordinated to economic rationality’ in capitalism (Fleming and Jones, 2013). The current government provisions follow the same logic and try to outsource education, healthcare in order to implement business ontology and maximize profit. They agree with Friedman’s view on capitalism that businesses do not have social responsibilities. Therefore, every action of business is taken to fulfill its ‘sole purpose’ (Friedman). They consider that CSR evolved to pursue the same goal practices, including ‘marketing, branding, recruitment and employee motivation’. The writers agree with the purpose of practicing CSR because they support Aristotle’s view about “doing well by doing good” (Aristotle). Although, by pursuing CSR the corporations will gain ‘competitive advantage’ there are many reasons against it. Firstly, there is an intrinsic tussle between the company’s primary function (reducing cost, capital control, and profit maximization) and to be socially responsible (Fleming and Jones, 2013). The private sector’s goals substantially differ from the government’s and the third sector’s. The current researches show the interrelationship between financial performance and CSR. However, if firms were not considered to make only more profit by CSR practices, researchers would not need to examine solely the IV. Quadrant (Enlightened self-interest) of the BAIM model on implemented CSR practices (Fleming and Jones, 2013). Secondly, prope... ... middle of paper ... ...aunch independent researches in this area. However, as these schools are dependent on corporate donations, it is not very likely to happen. They draw our attention to the fact that criticizing the regulations will not do a lot but people should question the ‘possibility of transforming the dynamics to a new form of social reproduction’(Fleming). They also conclude that CSR functions as parasite because it ‘undermines the protest of stakeholders’. They offer to create more win-win situations, ‘having to alter fundamentally the nature of the corporate form and the dominance of economic rationality’. Focusing on the reduction and transformation of III. Quadrant (corporate social irresponsibility) into IV. Quadrant (enlightened self-interest). Until real efforts are made to tackle the most crucial problems engulfing the CSR practices, CSR cannot be taken seriously.

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