Evaluation: Ethical Perspectives on Social Responsibility

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Evaluation: Ethical Perspectives on Social Responsibility This paper evaluates Cohen’s article on social responsibility and considers how his perspective and ideas align in comparison with other management experts including Drucker and Friedman. Some key components that are included in the evaluation are: • A definition of the concept of social responsibility. • What Cohen identifies as the social responsibility of a business to the workers, stakeholders, and society as a whole. • How Cohen’s perspective of the social responsibility of business aligns with the perspective of Drucker. • How Cohen’s opinion of the social responsibility of business compares with the opinion of Friedman. • Finally, an identification of which of the expert opinions best aligns with the current business climate promoting a ‘green environment and why. Social Responsibility The basic definition of social responsibility is that all companies should embrace more than just the focus of maximizing profits, and should have as part of their business model the goal to have a positive impact upon the society in which they operate. (Investopedia, 2014) Some businesses believe that social responsibility can only be applied to individuals and not to a corporation or business entity, and that the social responsibility of business is only to maximize the profits of the company for the shareholders of the organization. By maximizing the profits of a business, society as defined by these companies, is benefiting because the business is successful adding value to the entire society in which the company is operating. Cohen’s Beliefs Cohen was a student of Peter Drucker and thus understandably his beliefs on social responsibility align with those of Druck... ... middle of paper ... ....iisd.org/business/issues/sr.aspx Knowledge@Wharton. (2012). Why companies can no longer afford to ignore their social responsibilities. Time, May 28 Mackey, J. (2011). What conscious capitalism really is. California Management Review, 53(3), 83-90. Krishan, G.V., & Wei, Y. (2012). Do small firms benefit from auditor attestation of internal control effectiveness? Auditing, 31(4), 115-137. doi:10.2308/ajpt-50238 Rethinking the social responsibility of business. (2005) Retrieved on April 11, 2014 from http://reason.com/archives/2005/10/01/rethinking-the-social-responsi/print Saco, R.. (2008). Social Irresponsibility. Journal for Quality & Participation, 31(3),39-40. Social Responsibility Definition. (2014). Definition of ‘social responsibility’. Retrieved on April 11, 2014 from http://www.investopedia.com/terms/s/socialresponsibility.asp

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